Binance Labs, the venture capital and incubation arm of Binance, has announced an investment in Zircuit. It is a Layer 2 (L2) network utilizing zero-knowledge rollup technology with AI-enabled sequencer-level security.
We’ve invested in @ZircuitL2Zircuit is a zk rollup with parallelized circuits and AI-enabled security at the sequencer level. Read more👇https://t.co/HEjFrFgJB6
— Binance Labs Fund (@BinanceLabs) June 11, 2024
Zircuit Enhances Blockchain Security with AI and Zero-Knowledge Tech
Zircuit is a fresh blockchain platform that will improve on-chain security. It uses sequencer level security along with automatic Artificial Intelligence based systems to prevent hacking of smart contracts and other malicious activities. It adopts a novel hybrid architecture which integrates reliable rollup structure with zero-knowledge proof. It makes it a fast, low-cost ZK rollup that is fully compatible with EVM.
This approach is as secure as it can get for the users while not sacrificing speed or compatibility. Zircuit works at a very high-performance level by disaggregating circuits and accumulating proofs, which makes its functioning faster and more efficient.
Yi He, Co-Founder of Binance and Head of Binance Labs, showed positive attitude towards Zircuit and mentioned that Binance Labs invests in the projects that can develop the Web3 and blockchain technology. She stressed that sequencer-level security enhances L2 security at Zircuit and is eager to see the lab further develop and expand.
Zircuit is set to unveil its mainnet in the summer, but the ecosystem is quite far already ahead. The network currently has more than $3.5 billion in staked assets. The “Build to Earn” program has garnered more than 1,100 applications. Some of the launch partners include Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, and LayerZero.
Zircuit Secures Funding from Binance Labs for Mainnet Development
The Co-Founder of Zircuit, Dr. Martin Derka, expressed his joy and enthusiasm about having Binance Labs as partners. He explained that Zircuit was created from the latest scaling and security research. It intended to further secure Ethereum for a more extensive audience.
This funding round by Binance Labs in Zircuit is a massive vote of confidence in the project’s ability to improve blockchain reliability and efficiency. As for the further development and the approaching mainnet, Zircuit has all the potential to become one of the significant players in the sphere. Both investors and people interested in the development of blockchain technologies. They are carefully monitoring how innovations by Zircuit will shape the development of Ethereum and other similar platforms.