.jpg "ZEROBASE Raises $5M for Privacy-Preserving ZK Network")
[5:43 AM · Oct 19, 2024] – ZEROBASE, a pioneering real-time zero-knowledge (ZK) proof network, has announced the successful closure of a $5 million seed funding round. This investment will fuel the development of a privacy-preserving compute network specifically designed for ZK use cases, addressing critical infrastructure challenges and paving the way for widespread adoption of this transformative technology. The round was backed by a prominent consortium of investors, including IDG Capital, Binance Labs, Lightspeed Faction, Dao5, Matrix Partners, Symbolic Capital, and others.
The Growing Need for ZK Proof Infrastructure
The demand for ZK proofs is exploding, driven by the increasing need for privacy, scalability, and security in Web3 and beyond. Projections indicate that Web3 services will require nearly 90 billion ZK proofs to be executed by 2030, with a market-wide capacity requirement of 83,000 transactions per second, rivaling even established payment networks like Visa. This burgeoning demand translates into a projected market size of $10 billion for ZK proof generation by 2030, highlighting the significant opportunity for innovative solutions like ZEROBASE.
ZEROBASE: Proving the World, One Proof at a Time
ZEROBASE is designed to be the fastest, most secure, and privacy-focused ZK prover network available. It offers a unique combination of features that set it apart from existing solutions:
- Unmatched Speed: ZEROBASE generates proofs in under 400 milliseconds, enabling large-scale ZK applications at a fraction of the cost and time compared to current alternatives.
- Unwavering Privacy: Leveraging Trusted Execution Environments (TEE), ZEROBASE ensures complete confidentiality of computations and data, making it the only prover network that truly protects sensitive information.
- Robust Decentralization: Built on a distributed compute architecture, ZEROBASE eliminates single points of failure, ensuring resilience and scalability across a global network of nodes. Consensus times under one second maintain the decentralized nature of the network.
- Seamless Integration: ZEROBASE offers a simple, one-click integration via its API and smart contracts, making it easy for developers to incorporate ZK proofs into their applications.
- Composable Compliance: ZEROBASE's unique framework allows organizations to interact with Web3 applications while adhering to regulatory and compliance standards, preventing market fragmentation and fostering broader adoption.
Addressing Real-World Challenges with ZK Technology
ZEROBASE's capabilities extend beyond blockchain, offering solutions for various industries:
- Decentralized Finance (DeFi): Enabling private transactions, confidential trading platforms (zkDarkPool), and secure identity verification (zkKYC).
- Artificial Intelligence (AI): Facilitating model training on private data sets while preserving confidentiality.
- Biotechnology: Protecting sensitive research data while enabling secure collaboration among researchers.
- Governance: Ensuring voting integrity and privacy through zkGovernance solutions.
Empowering the ZK Ecosystem
Beyond its core prover network, ZEROBASE is committed to fostering the growth of the ZK ecosystem:
- Open-Source ZK Library: ZEROBASE is developing an open-source ZK library based on its decryption-enabled ZK framework, making this powerful technology more accessible to developers.
- Node Operator Program (Coming Soon): Individuals with CPU or GPU resources will be able to contribute to the network as node operators, earning fees for each proof generated.
- Custom Circuit Development: ZEROBASE offers end-to-end custom circuit development services for a wide range of applications across various sectors.
Looking Ahead
ZEROBASE is poised to become a critical infrastructure component for the future of Web3 and beyond. With its focus on speed, privacy, and decentralization, ZEROBASE is empowering developers, businesses, and individuals to unlock the full potential of zero-knowledge cryptography. The company plans to further enhance its prover network with proprietary acceleration algorithms for all major proof systems, decentralize its node network, and expand its presence across key L1 and L2 ecosystems.
About ZEROBASE
ZEROBASE is a real-time ZK proof network providing privacy and access to the fastest decentralized computing infrastructure in the world. Founded by Salus, ZEROBASE is committed to making zero-knowledge cryptography accessible, scalable, and efficient for everyone.
Compiled by CMO Intern team
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