Succinct's Open-Source zk Tools Gain Traction, Secures $55M Funding
Succinct, a provider of zk infrastructure, has gained traction with its open-source tools. The company's technology is already employed by several projects, and it has secured significant funding.
Succinct's offerings include zkVM and SP1, a fully open-source zkVM that rivals custom ZK circuits. This allows developers to use zero-knowledge proofs with normal programming languages. The company launched the Succinct Prover Network in February, enabling anyone to build blockchain applications secured by cryptographic truth.
Succinct's infrastructure is currently used by notable projects such as Celestia, Wormhole, Lido, Avail, Near, and Gnosis for zk-enabled applications. The company's goal is to make zero-knowledge proofs accessible to all developers.
Succinct has raised $55 million in funding led by Paradigm, with participation from Robot Ventures, Bankless Ventures, Geometry, ZK Validator, and angel investors. The company continues to make strides in making zero-knowledge proofs more accessible and user-friendly.
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