According to BlockBeats, on September 12, Succinct Labs, a startup backed by Paradigm, announced that it has been working with OP Labs, a major contributor to the Optimism protocol, to solve the problems of ZK Rollups.
Succinct Labs said they worked closely with the OP Labs team to build OP Succinct, a seamless way to upgrade any OP Stack chain to use zero-knowledge proofs in under an hour.
Succinct Labs, which raised $55 million in seed and Series A funding rounds led by Paradigm in March, says its new approach is much faster than standard optimistic rollups, which have a seven-day fraud proof window and cost a fraction of a cent per transaction on average.
