George Town, Grand Cayman, June 11, 2024, Chainwire
Binance Labs, the incubation and venture capital arm of Binance, has invested in Zircuit, a zero-knowledge rollup with AI-enabled sequencer-level security.
Zircuit is a new Layer 2 (L2) network that introduces a novel approach to on-chain security. The network protects users with sequencer-level security and built-in automated AI mechanisms that protect against smart contract exploits and malicious actors. The network's hybrid architecture, which combines battle-tested rollup infrastructure with zero-knowledge proofs, results in a fast, low-cost, fully EVM-compliant ZK rollup to provide unparalleled security to users without sacrificing speed or compatibility. More specifically, Zircuit's performance comes from breaking down circuits into specialized parts and adding tests, achieving greater efficiency and lower operating costs.
Yi He, co-founder of Binance and head of Binance Labs, said: “At Binance Labs, we support projects that are innovating Web3 and accelerating the blockchain industry. Through its sequencer-level security integration, Zircuit provides a more secure L2 solution and we look forward to seeing it grow and develop further.”
As Zircuit prepares to debut its mainnet this summer, its ecosystem is already demonstrating impressive growth. The network currently hosts more than $3.5 billion in assets at stake and its “Build to Earn” program has attracted more than 1,100 applications. Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, LayerZero and others are among its launch partners.
“Zircuit was born from cutting-edge security and scaling research. We are innovating on a deep technical foundation and making the next billion users safer. “We are delighted to have Binance Labs join us on this journey,” said Dr. Martin Derka, co-founder of Zircuit.
About Zircuit
Zircuit is a ZK rollup with AI-enabled sequencer-level security and parallelized circuits. Created by a team of web3 security veterans and PhDs in computer science, algorithms and cryptography, Zircuit's unique architecture combines the best of both worlds of performance and security. For more information, visit zircuit.com or follow us on Twitter/X @ZircuitL2
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs has grown to be worth over $10 billion. Its portfolio covers 250 projects from more than 25 countries on six continents and has a return on investment rate of more than 14 times. Fifty of the Binance Labs portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.
ContactJessica Graberzircon[email protected]
This article was originally published on Chainwire.
