Binance Labs, the venture capital arm of Binance, has joined the ranks of investors in the Zero-Knowledge Proof (ZK-proof) technology, as it allocates a significant investment to Delphinus Lab’s ZK-proof-powered infrastructure.
The highlight of this development is Binance Labs’ strategic injection of $2.2 million into Delphinus Lab. This funding will bolster the ongoing advancement of Delphinus Lab’s application rollup platform, known as zkWASM Hub.
This platform is designed to provide automated proving and batching services specifically tailored for Web3 applications.
At the core of this innovation lies the zero-knowledge WebAssembly (zk-WASM) virtual machine, which is being heralded as a groundbreaking open-source virtual machine.
It boasts the distinctive feature of supporting ZK computation and application software development kits. The zk-WASM Hub’s purpose is to streamline the development of ZK applications across various developer languages, seamlessly deployable within the WebAssembly-supported environments.
The technology’s potential to enhance the security and privacy of decentralized applications through ZK-proof technology is highly anticipated.
A remarkable facet of the zkWASM Hub is its capability to facilitate the distribution of GitHub applications within its ecosystem.
This is achieved through an automated compilation and updating service, which adds to its user-friendly and versatile nature.
Delphinus Lab has taken strides in implementing application-specific software development kits across diverse languages and applications.
This includes dynamic programmable non-fungible tokens, fully on-chain games, high-performing trustless Central Limited Order Book (CLOB), and trustless oracles.
The founder and CEO of Delphinus Lab, Sinka Gao, articulated the aspiration to merge the robustness of Web2 with the decentralized and trustless attributes of Web3, fostering the creation of advanced decentralized applications within the zkWASM Hub.
READ MORE: Binance Contemplates Legal Action Against Former Payment Provider
Binance Labs’ investment orientation encompasses a broad spectrum of innovations aimed at scalability and user onboarding to Web3.
This approach aligns with their exploration of projects supporting modular blockchain, liquid staking decentralized finance protocols, and ZK-proof solutions.
Notably, ZK-proof technology has played a pivotal role in scaling the Ethereum ecosystem, with influential players such as ConsenSys, Polygon, and StarkWare pioneering its adoption.
An exemplar of ZK-proof’s application is seen in the decentralized Web3 data service Space and Time.
Here, ZK-proof technology is utilized to cryptographically validate information queries within the ecosystem.
Through Proof of SQL, succinct non-interactive arguments of knowledge (SNARK) cryptographic proofs are generated, assuring users of query accuracy and integrity in the decentralized data network.
The collaboration between Binance Labs and Delphinus Lab underscores the enduring significance of ZK-proof technology in shaping the future of decentralized applications and Web3 ecosystems.
Binance Contemplates Legal Action Against Former Payment Provider
Crypto Industry Adapts to Bear Market
Ripple Labs vs. SEC: Appeals Process Sparks Debate Over Ongoing Legal Case
