Binance Labs, the investment and support division of Binance, recently disclosed its financial backing of Zircuit, a cutting-edge Layer 2 (L2) network that implements zero-knowledge rollup technology coupled with AI-driven sequencer-level security.
Zircuit, a zk rollup system with parallelized circuits and AI-powered security at the sequencer level, has captured the attention of Binance Labs. The platform aims to bolster blockchain security through the use of sequencer-level security and AI-based technologies to deter potential breaches and malicious activities such as hacking of smart contracts. By combining a unique hybrid architecture that merges a dependable rollup structure with zero-knowledge proof, Zircuit has created a swift, cost-effective ZK rollup that seamlessly integrates with EVM.
This innovative approach prioritizes user security without compromising on speed or compatibility. Zircuit operates at an exceptional performance level by breaking down circuits and accumulating proofs, resulting in enhanced efficiency and speed.
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed optimism towards Zircuit, emphasizing Binance Labs’ commitment to supporting projects that advance Web3 and blockchain technology. She highlighted the significance of sequencer-level security in fortifying L2 security at Zircuit and eagerly anticipates the lab’s continued growth and progress.
While Zircuit is gearing up to launch its mainnet in the upcoming summer, the network has already made substantial strides. With over $3.5 billion in staked assets and more than 1,100 applications received for the “Build to Earn” program, Zircuit has already secured partnerships with prominent platforms such as Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, and LayerZero.
Dr. Martin Derka, Co-Founder of Zircuit, expressed his excitement about the partnership with Binance Labs, highlighting that Zircuit was developed based on the latest advancements in scaling and security research to enhance Ethereum’s security for a wider audience.
The funding provided by Binance Labs underscores the confidence in Zircuit’s potential to enhance blockchain reliability and efficiency. As Zircuit progresses towards the mainnet launch, it is poised to become a key player in the industry, attracting attention from investors and individuals interested in blockchain technology. The innovative solutions introduced by Zircuit are expected to shape the future of Ethereum and similar platforms.