Original title: Paradigm-backed startup Succinct and OP Labs aim to solve ZK rollups

Original author: RT Watson

Original source: https://www.theblock.co/

Compiled by: Mars Finance, Daisy

Paradigm-backed Succinct Labs announced that it has partnered with OP Labs, a major contributor to the Optimism protocol, to work on “solving” the ZK rollups problem.

Paradigm-backed startup Succinct Labs announced on Wednesday that it has been working with OP Labs, a major contributor to the Optimism protocol, to “solve” the ZK rollups problem.

“Over the past few months, we have worked closely with the OP Labs team to develop OP Succinct, a seamless way to upgrade any OP Stack chain to use [zero-knowledge proofs] in under 1 hour,” Succinct said in a post on the X Platform.

Optimism is Ethereum's Layer 2 scaling solution, designed to provide faster and cheaper transactions while maintaining the security and compatibility of the Ethereum mainnet. It uses optimistic rollups to package multiple transactions into one, thereby reducing the load on the Ethereum network, reducing transaction fees and speeding up processing time.

Succinct Labs, which raised $55 million in a seed and Series A round led by Paradigm in March, says its new approach is significantly faster than “standard optimistic rollups,” which have a “seven-day fraud proof window,” and that OP Succinct’s average cost per transaction is “a few cents.”

“OP Succinct was built in close collaboration with OP Labs,” Succinct said in a blog post. “From the beginning, the OP Labs team built the OP Stack to be modular and provide paths to support a variety of validity mechanisms (not just optimistic failure proofs). OP Succinct’s two-step integration requires minimal code and is easily adaptable to existing deployments — including Rollup-as-a-Service setups.”

Scaling Solutions

Layer 2 scaling solutions were created to solve the scalability and transaction speed issues that plague Layer 1 blockchains. Rollups are one of the available Layer 2 solutions, including zero-knowledge rollups or ZK rollups.

ZK rollups use cryptographic proofs to verify the validity of batched transactions off-chain. This approach eliminates the need for dispute periods and provides faster transaction finality and lower gas fees than optimistic rollups.

In June this year, OP Labs released fault proofs on the Layer 2 blockchain OP Mainnet. The fault proof system allows Ether and ERC-20 tokens to be withdrawn from OP Mainnet without relying on a trusted third party, which allows users to challenge and revoke invalid withdrawals. Fault proofs are a mechanism on the Ethereum Layer 2 network that allows users to dispute potential fraud or erroneous transactions.

Previously, OP Mainnet did not have failure proofs, which meant that users needed to trust the operator to submit the accurate state root to the mainnet.