Binance Labs Invested in Zircuit Layer 2 Solution
The venture arm of the largest cryptocurrency exchange, Binance Labs, has invested an undisclosed amount in the second layer solution for scaling Ethereum Zircuit.
Zircuit is a layer 2 solution that is compatible with the Ethereum Virtual Machine and can be compared to similar projects such as ZKsync, Scroll and Linea.
In Zircuit, the so-called “sequencer” is responsible for organizing transactions into blocks. However, before the Zircuit sequencer combines transactions into blocks, it carefully checks their consequences.
It uses artificial intelligence to check whether each transaction is a hack or not. Transactions that are hacks are not included in blocks. Instead, they are quarantined, says Zircuit co-founder and former Quantstamp executive Martin Derk.
Founded in mid-2022, Zircuit is currently in the testing phase. The main network will be launched in the coming months. The project has already raised more than $3.5 million. Launch partners include companies such as Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, LayerZero.
