George Town, Grand Cayman – June 11th, 2024 – Chainwire
Binance Labs, the investment and development division of Binance, has recently put funds into Zircuit, a cutting-edge zero-knowledge rollup network equipped with AI-powered sequencer-level security.
Zircuit, a fresh Layer 2 (L2) platform, brings a unique perspective to on-chain security. The network shields users with sequencer-level security and automated AI features that protect against potential smart contract vulnerabilities and malicious entities. By merging battle-tested rollup technology with zero-knowledge proofs, Zircuit’s hybrid structure offers a rapid, cost-effective, and fully EVM-compatible ZK rollup, ensuring top-notch security without compromising on speed or compatibility. Zircuit’s efficiency stems from breaking down circuits into specialized components and combining proofs, resulting in enhanced performance and reduced operational expenses.
Yi He, Co-Founder of Binance and Head of Binance Labs, commented: “At Binance Labs, we back projects that push the boundaries of Web3 and drive progress in the blockchain sector. With its focus on sequencer level security, Zircuit is paving the way for a more secure L2 solution, and we are excited to witness its continued growth and evolution.”
As Zircuit gears up for the launch of its mainnet this summer, its ecosystem is already showing remarkable expansion. The network currently boasts over $3.5 billion in staked assets, and its “Build to Earn” initiative has attracted over 1,100 applications. Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, LayerZero, and other partners are part of its initial launch.
Dr. Martin Derka, Co-Founder of Zircuit, stated: “Zircuit is the result of cutting-edge research in scaling and security. We are building on a strong technical foundation to enhance Ethereum’s safety for future users. We are thrilled to have Binance Labs onboard for this journey.”
About Zircuit:
Zircuit is a ZK rollup network with AI-enabled sequencer-level security and parallelized circuits. Developed by a team of web3 security experts and PhDs in computer science, algorithms, and cryptography, Zircuit’s innovative architecture blends performance and security seamlessly. To learn more, visit zircuit.com or follow @ZircuitL2 on Twitter.
About Binance Labs:
Binance Labs, the venture capital arm and accelerator of Binance, has grown to a value of over $10 billion. With a portfolio spanning 250 projects from 25 countries across six continents and a return on investment rate exceeding 14X, Binance Labs is a leading force in the industry. Fifty of Binance Labs’ portfolio companies have successfully completed their incubation programs. For more information, follow Binance Labs on X.
Contact:
Jessica Graber
Zircuit
[email protected]
