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Zero-knowledge proof technology continues to attract attention and funding as Binance Labs emerges as the latest entity to invest in ZK-proof-based infrastructure created by Delphinus Lab.
Binance’s venture capital division has declared a strategic investment in Delphinus Lab’s zero-knowledge WebAssembly (zk-WASM) virtual machine. The zk-WASM is being recognized as the first known open-source virtual machine that accommodates ZK computation and application software development kits.
Cointelegraph can exclusively disclose that Binance Labs is committing $2.2 million to Delphinus Lab, with the capital intended to support the ongoing advancement of its application rollup platform, zkWASM Hub, which will offer automated proving and batching services for Web3 applications.
We’re thrilled to announce our investment in @DelphinusLab!
Delphinus Lab is an infrastructure provider that has launched the first known open-source zkWASM virtual machine that enables trustless computation and application SDKs.https://t.co/geWtkfBShm— Binance Labs Fund (@BinanceLabs) August 21, 2023
WebAssembly (WASM) remains a crucial component of the broader internet as a virtual machine that permits code from widely-used programming languages to run natively in web browsers. WASM was developed through a collaboration involving Google, Mozilla, Microsoft, and Apple in 2017.
The infrastructure aims to support the creation of ZK applications across various developer languages that can be deployed in WASM-compatible environments. ZK-proof technology is widely recognized for enhancing the security and privacy of decentralized applications.
The zkWASM Hub will also enable developers to integrate GitHub applications into its ecosystem via its auto-compilation and updating service.
Related: Zero-knowledge proofs coming to Bitcoin, overhauling network state validation
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Binance Labs further indicated that Delphinus Lab has developed several application-specific software development kits in various languages for multiple applications. This encompasses dynamic programmable nonfungible tokens, fully on-chain games, high-performance trustless Central Limited Order Book (CLOB), and trustless oracles.
A statement from Delphinus Lab founder and CEO Sinka Gao emphasized the firm’s aspirations to foster the creation of Web3 decentralized applications that merge Web2’s “robustness” with Web3’s “decentralized, trustless” characteristics:
“Our zkWASM Hub introduces a streamlined multi-chain execution layer for developers to easily deploy and manage their WASM-backed apps in a dynamic rollup environment.”
Binance Labs also mentioned that it aims to allocate its venture funds into the broader ecosystem, concentrating on projects that enhance scalability while exploring application layers that could attract more users to Web3.
The spokesperson added that its investment strategy focuses on innovative technology and essential infrastructure to drive new sectors. This includes modular blockchain, liquid staking decentralized finance protocols, and ZK-proof solutions.
Related: Are ZK-proofs the answer to Bitcoin’s Ordinal and BRC-20 problem?
As Cointelegraph has extensively examined, ZK-proof technology has proven to be pivotal in scaling the Ethereum ecosystem. Numerous notable companies, including Consensys, Polygon, and ZK-proof pioneers StarkWare, have been at the forefront of ZK-powered technologies and infrastructure development.
Decentralized Web3 data service Space and Time is utilizing ZK-proof technology to cryptographically validate information queries within its ecosystem. The firm’s Proof of SQL generates a succinct non-interactive argument of knowledge, or SNARK, cryptographic proof of a query within its decentralized data network, enabling users to trust that a data query is accurate and has not been altered.
Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains: Polygon Miden founder
