As a researcher who has been deeply immersed in the blockchain ecosystem for years now, I must say that the collaboration between Succinct Labs and OP Labs to create OP Succinct is nothing short of revolutionary. With my fingers crossed, I’m eagerly waiting for this zkEVM rollup to hit the market.
Collaboratively, Succinct Labs and OP Labs have developed a system for zero-knowledge proofs which enhances the confirmation of transactions and reduces gas expenses more effectively than optimistic rollups do.
On September 11th, I was thrilled to learn about my partnership between Succinct Labs and OP Labs, a pioneering startup in the Optimism (OP) protocol’s advancement. Together, we are embarking on an exciting journey to develop OP Succinct.
OP Succinct by Succinct Labs and OP Labs
The partnership between Paradigm-supported Succinct Labs and OP Labs sees them integrating the all-purpose, zero-knowledge virtual machine SP1 with OP Stack. This fusion aims to create a zkEVM scaling solution.
By implementing the latest approach, it’s now more affordable and quicker to update OP Stack blockchains for zero-knowledge proof usage. As stated by Succinct Labs, the OP Succinct solution is also exceptionally adaptable.
According to Succinct Labs’ post on X, the modular construction of the OP Stack allows for simple transformation of an OP Stack rollup into a ZK rollup. The two-step integration of OP Succinct necessitates only a small amount of code and can seamlessly blend with existing implementations – even in rollup-as-a-service configurations.
Fast finality and lower gas costs
Developing ZK rollups contributes to the expanding ecosystem of layer 2 scaling solutions, providing swift confirmation of transactions off-chain and thereby decreasing gas expenses.
In March 2024, OP Labs and Succinct Labs, having raised a total of $55 million in funding rounds led by Paradigm, plan to introduce their new venture, OP Succinct, to the public market.
Being able to upgrade an OP Stack to use ZKPs within an hour vastly improves the fraud-proof window of seven days applicable to standard optimistic rollups. Proving costs are also at 0.5 to 1 cent, compared to higher costs of 1.34 cents on OP Mainnet and 1.11 cents on OP Sepolia.
Read More
Sorry. No data so far.
2024-09-11 23:20