{"id":28013,"date":"2024-03-21T19:30:46","date_gmt":"2024-03-21T19:30:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/zk-proofs-startup-succinct-secures-55-million-round-led-by-paradigm\/"},"modified":"2024-03-21T19:30:46","modified_gmt":"2024-03-21T19:30:46","slug":"zk-proofs-startup-succinct-secures-55-million-round-led-by-paradigm","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/zk-proofs-startup-succinct-secures-55-million-round-led-by-paradigm\/","title":{"rendered":"ZK proofs startup Succinct secures $55 million round led by Paradigm"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/succinct-zk-proofs-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/succinct-zk-proofs-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/succinct-zk-proofs-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/succinct-zk-proofs-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Paradigm leads a $55 million round for zero-knowledge proofs startup Succinct.<\/span><\/li>\n<li><span style=\"font-weight: 400\">The funding was for the platform\u2019s Seed and Series A rounds.<\/span><\/li>\n<li><span style=\"font-weight: 400\">It attracted venture firms Robot Ventures and Bankless Ventures and angels Sreeram Kannan and Sandeep Nailwal from Eigenlayer and Polygon respectively.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Succinct, a crypto startup that wants to make zero-knowledge (ZK) proofs accessible to any developer, has secured $55 million funding from top venture investment firms.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a <a href=\"https:\/\/blog.succinct.xyz\/series-a\/\" target=\"_blank\" rel=\"noopener\">blog announcement<\/a> the startup published on Thursday, tech investment firm Paradigm led the financing across Succinct\u2019s Seed and Series A round.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The financing attracted participation from among others, Robot Ventures, Bankless Ventures, and Geometry. Angel investors included Eigenlayer\u2019s Sreeram Kannan, <a href=\"https:\/\/coinjournal.net\/news\/tag\/polygon\/\">Polygon<\/a> co-founder Sandeep Nailwal, Dev Ojha from <a href=\"https:\/\/coinjournal.net\/osmosis\/\">Osmosis<\/a> and Celestia co-founder John Adler.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Making ZK proofs accessible to developers<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The Succinct team noted that ZK proofs are <a href=\"https:\/\/coinjournal.net\/news\/zircuit-new-zk-rollup-backed-by-pioneering-l2-research-launches-public-testnet\/\">gaining traction across the blockchain ecosystem<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This includes in scaling, interoperability and privacy developments. However, most developers still find ZK proofs \u201ctoo complex\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Succinct aims at lowering this barrier using its zkVM, SP1, and decentralized prover network.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>SP1 is the first 100% open-source zkVM performant enough to rival custom ZK circuits<\/em>,\u201d the startup wrote.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>With SP1, developers can use ZK with normal programming languages, reuse existing crates and libraries, and iterate quickly with auditable and maintainable code. SP1 shows that an extremely optimized, general-purpose system can match the performance of hand-written, specialized approaches that have historically been the only option<\/em>,\u201d the platform noted in the blog announcement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Celestia, Wormhole, Lido, Near and Gnosis are among blockchain networks that currently tap into Succinct\u2019s infrastructure to build their ZK-enabled applications.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/zk-proofs-startup-succinct-secures-55-million-round-led-by-paradigm\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Paradigm leads a $55 million round for zero-knowledge proofs startup Succinct. The funding was for the platform\u2019s Seed and Series A rounds. It attracted venture firms Robot Ventures and Bankless Ventures and angels Sreeram Kannan and Sandeep Nailwal from Eigenlayer [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":28014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28013"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=28013"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/28014"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=28013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=28013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=28013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}