New York, NY, May 23, 2024, Chainwire
Horizen Labs is proud to announce the official launch of zkVerify, a dedicated zero-knowledge proof verification network designed for settlement optimization.
The launch of zkVerify comes at a critical time when blockchain networks are increasingly seeking efficient and scalable solutions to meet the demands of high transaction volumes and complex operations.
In recent years, web3 developers have adopted modular solutions to optimize the core functions of blockchain protocols (execution, consensus, data availability and settlement) as individual functions. Modular architectures propose a more efficient alternative to monolithic chains, combining these features in a single protocol. zkVerify has a unique architecture as the most efficient ZK modular solution for the settlement layer that reduces security costs by decoupling proof verification from settlement in the L1s.
Horizen Labs estimates that $47 million will be spent on proof verification in 2023 for zk-rollups alone, and industry studies anticipate that zk proof generation will become a $10 billion market by the year. 2030. zkVerify eliminates the cost and complexity of computationally intensive proof verification for developers by building with zk-rollups, proposing a critical unlock for the scalability and adoption of decentralized applications. Initially, zkVerify can be used to verify Ethereum and L2 proofs with a 91% cost reduction and will quickly expand to support multiple blockchain architectures. As zk-rollups continue to gain adoption as critical scaling infrastructure, zkVerify is introducing a new proof verification standard for zk-rollups of any type at any settlement layer.
zkVerify Key Features
- Fast modularized process: It allows blockchain networks to offload the computationally heavy and expensive process of proof verification, allowing them to focus on their core functionalities and stay ahead of their competition.
- Cost-effective test verification: It reduces the cost of proof verification by up to 91%, a change that could have saved ZK Rollups more than $42.8 million in 2023 alone.
- Simplified and easy integration: It seamlessly integrates with existing blockchain ecosystems and multiple SNARK testing schemes, minimizing technical overhead with a developer-friendly environment.
“The zkVerify platform is not just about reducing costs – it is about enabling innovation and scalability in a way that was not possible before,” said Rob Viglione, co-founder and CEO of Horizen Labs, “by downloading proof verification , we enable developers to optimize settlement through a modular approach, unlocking more resources and value for both developers and users.”
zkVerify is available on Testnet Designed for seamless integration with existing blockchain networks, zkVerify minimizes technical overhead and provides a developer-friendly environment for test verification across a wide range of zk-rollups and settlement layers. Created by Horizen Labs, the development studio behind the EVM-compatible Horizen network, zkVerify can also be used by builders within the Horizen ecosystem. Leading zk and web3 projects such as Gevulot, Caldera and Gateway.fm will be some of the first networks to use zkVerify for proof verification.
zkVerify is now available on testnet and can be accessed via Web3. Developers are invited to explore how zkVerify can improve their operations and contribute to the scalability of their projects.
About Horizen Laboratories
Founded in 2019, Horizen Labs is a leading blockchain technology company specializing in zero-knowledge cryptography. Dedicated to scaling decentralized networks, Horizen Labs is elevating blockchain technology to unprecedented levels of efficiency. By focusing on the development of next-generation modular architectures, Horizen Labs is setting new standards for performance, security and cost-effectiveness. Horizen Labs is trusted by industry giants like Yuga Labs, Animoca Brands, and Offchain Labs. Additionally, it is the development company hired by Ape DAO and Horizen DAO to develop leading projects like ApeChain and Horizen. Horizen Labs is a globally distributed team with offices in Milan and New York.
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ContactSenior Public Relations Managerjose adamsserotonin[email protected]
This article was originally published on Chainwire.
