The investment and startup support division of the largest cryptocurrency exchange in the world is moving forward with its latest investment in the integration of artificial intelligence (AI) technology with blockchain.
In a recent announcement, Binance Labs revealed its investment in Zircuit, a new Layer-2 (L2) network that incorporates AI-powered “sequencer level” security. Zircuit’s L2 technology combines rollup infrastructure with zero-knowledge proofs to facilitate fast, cost-effective, and Ethereum Virtual Machine (EVM)-compatible transactions.
Martin Derka, the co-founder of the project, stated, “Zircuit has its roots in cutting-edge research on scaling and security. By building on a strong technical foundation, we are enhancing the safety of Ethereum for the next wave of users. We are excited to have Binance Labs join us on this journey.”
The network’s design aims to streamline circuits and merge proofs to enhance efficiency and reduce operational expenses. Zircuit’s “Build to Earn” initiative has already evaluated more than 1,100 applications and has secured partnerships with key industry players. With its mainnet launch on the horizon, the network has already amassed over $3.5 billion in staked assets.
Yi He, Co-Founder of Binance and Head of Binance Labs, commented, “At Binance Labs, we are committed to supporting projects that drive innovation in Web3 and propel the blockchain industry forward. With its focus on sequencer level security, Zircuit offers a more secure L2 solution, and we are eager to witness its continued growth and development.”
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