Binance Labs, the investment and development division of Binance, has recently made an investment in Zircuit, a Layer 2 (L2) network that utilizes zero-knowledge rollup technology combined with AI-powered sequencer-level security.
We’re excited to announce our investment in @ZircuitL2. Zircuit is a zk rollup platform with parallelized circuits and AI-based security at the sequencer level. Find out more here: https://t.co/HEjFrFgJB6
— Binance Labs Fund (@BinanceLabs) June 11, 2024
Zircuit is revolutionizing blockchain security by incorporating AI technology and zero-knowledge proofs. It employs sequencer-level security and AI systems to safeguard against smart contract hacks and other malicious activities. With its innovative hybrid architecture that merges a reliable rollup structure with zero-knowledge proof, Zircuit offers a fast and cost-effective ZK rollup that is fully compatible with EVM.
Yi He, the Co-Founder of Binance and Head of Binance Labs, expressed optimism about Zircuit’s potential. She emphasized that Binance Labs supports projects that advance Web3 and blockchain technology, highlighting the importance of sequencer-level security in enhancing Zircuit’s L2 security.
Zircuit is gearing up to launch its mainnet in the summer, with a significant ecosystem already in place. The network boasts over $3.5 billion in staked assets and has received more than 1,100 applications for its “Build to Earn” program. Notable launch partners include Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, and LayerZero.
Dr. Martin Derka, Co-Founder of Zircuit, expressed excitement about the partnership with Binance Labs, emphasizing that Zircuit is the result of cutting-edge scaling and security research aimed at bolstering Ethereum’s security for a broader audience.
Binance Labs’ funding of Zircuit demonstrates confidence in the project’s potential to enhance blockchain reliability and efficiency. As Zircuit prepares for its mainnet launch, it is poised to make a significant impact in the industry, attracting interest from investors and blockchain enthusiasts alike. The innovative advancements by Zircuit are closely watched as they shape the future of Ethereum and similar platforms.