Succinct Network officially released the project's white paper today, and this article will give you a quick overview of the core content of the white paper.
Source: SuccinctLabs
Compiled by: Nicky, Foresight News
Succinct Network is a decentralized zero-knowledge proof (ZK Proofs) network that reduces blockchain verification costs and delays by separating transaction execution from verification. Its core technology, SP1 zkVM, enhances performance by 10 times through GPU optimization and efficient recursion, achieving compatibility with the Ethereum Virtual Machine (EVM) and providing solutions for cross-chain bridging, instant fund withdrawal, and more. Below are the key points from the (Succinct Network white paper).
Succinct Network is a permissionless protocol that cleverly utilizes cryptoeconomic incentives, aiming to elevate global proof capabilities to new heights. The birth of this protocol marks an important step forward in the field of decentralized, secure, and trustworthy verification.
Looking back at history, Bitcoin allowed anyone to become a miner and participate in the excavation and construction of the blockchain; Ethereum further promoted this trend, allowing anyone to become a staker and contribute to the security and stability of the blockchain. Now, Succinct Network once again leads the trend, enabling anyone to become a prover, utilizing their computing resources to provide verification services for the blockchain world.
However, in today's digital world, verifiable resources are particularly scarce. While centralized intermediaries can provide a certain level of verification services, they often require users to incur trust costs. On the other hand, decentralized systems, despite having higher security and credibility, face numerous challenges in scalability. To address this issue, zero-knowledge proofs (ZK) have emerged. They ensure the accuracy and security of verification through mathematical methods, bringing a new way of verification to the blockchain world.
Currently, the ZK field is in a period of rapid development. On one hand, proof systems are constantly being optimized and improved, with significant enhancements in performance and efficiency. On the other hand, zero-knowledge virtual machines (zkVM) like SP1 are transforming ZK from specific applications to general applications, providing secure and trustworthy verification services for more fields. Succinct Network is the promoter and leader of this trend.
To consolidate global proof capabilities into a seamless, unified layer, Succinct Network has proposed two new concepts: global distributed proof clusters and proof competitions.
The global distributed proof cluster is a collection of distributed provers composed of hardware teams, data center operators, and home devices that are spread across the globe, collectively providing verification services for the blockchain world.
Proof competitions are competitive auction activities that encourage more provers to join the network through a transparent pricing mechanism and competitive incentive measures, promoting decentralization and scalability of the network.
Succinct Network is not only applicable to various existing ZK applications, such as rollups, cross-chain bridges, and identity verification, but also provides ample space and possibilities for more innovative applications that may emerge in the future. With the promotion of Succinct Network, ZK technology will continue to develop and improve, contributing more power to the prosperity and development of the blockchain world.