Succinct Labs collaborates with OP Labs to build OP Succinct, addressing the challenges of ZK Rollups.
Powered by ChatGPTOdaily Planet Daily News: Zero-knowledge proof infrastructure company Succinct Labs announced on Wednesday that it has been collaborating with $OP Labs, a major contributor to the Optimism protocol, to focus on "solving" the issues of ZK Rollups. "Over the past few months, we have closely worked with the $OP Labs team to build $OP Succinct, which is a seamless way to upgrade any $OP Stack chain to use zero-knowledge proofs within 1 hour." Succinct stated that their new approach is much faster than "standard optimistic rollups," which have a "7-day fraud proof window" and an average transaction cost of "only a few tenths of a cent". (The Block) Earlier in March, Succinct completed a $55 million financing (including seed and Series A rounds), led by Paradigm, with participation from Robot Ventures, Bankless Ventures, Geometry, ZK Validator, and several angel investors.