OP
by BSCN
September 12, 2024
OP Succinct features a two-step integration process that can upgrade any OP Stack chain in just one hour, with minimal code required.
Succinct Labs and OP Labs have partnered to launch OP Succinct—a zero-knowledge proof (ZK proof) solution designed to improve transaction finality and reduce gas costs. This technology aims to outperform standard optimistic rollups and enhance the overall performance of the Optimism protocol.
Zero-knowledge proofs (ZK proofs) are cryptographic protocols that allow one party to prove the truth of a statement without revealing any other information. Succinct Labs and OP Labs aim to make transactions faster, cheaper, and more secure by integrating ZK proofs into the Optimism protocol.
The newly developed OP Succinct uses a two-step integration process that requires minimal coding and fits easily into existing OP Stack deployments.
This upgrade, according to Succinct Labs, can be completed in just one hour. The platform also maintains compatibility with rollup-as-a-service setups, offering a streamlined path to upgrading OP Stack chains with ZK proofs.
Optimism, a leading Layer-2 scaling solution for Ethereum, currently uses optimistic rollups to bundle transactions. These rollups reduce the burden on the Ethereum network, allowing for faster and cheaper transactions while maintaining the security of the Ethereum mainnet.
However, the existing system relies on a “7-day fraud-proof window,” meaning users have to wait for up to a week for transaction validation in case of disputes. This creates delays and higher costs in some cases.
OP Succinct, developed in close collaboration with OP Labs, reportedly improves upon this process. It eliminates the need for the extended fraud-proof window by leveraging ZK proofs to reduce the time required for transaction finality.
According to Succinct Labs, the new solution is not only faster but also more cost-effective. It reduces transaction costs to as little as 0.5 to 1 cent—compared to the 1.34 cents on OP Mainnet and 1.11 cents on OP Sepolia.
OP Succinct’s biggest feature is its seamless integration process. Succinct Labs designed the solution to be modular and easy to implement, with minimal code changes needed for any OP Stack chain. This reportedly allows projects utilizing the Optimism protocol to quickly adopt the new ZK proof system without significant disruption to their existing operations.
Succinct Labs emphasized that OP Succinct was built with the goal of long-term scalability.
Last March, Succinct Labs secured $55 million in seed and Series A funding, led by Paradigm, a major player in the crypto space. The funding round also saw participation from prominent investors like Robot Ventures, Bankless Ventures, and ZK Validator, as well as key figures from Polygon and EigenLayer.
The funds will be used to advance the ZK-proof technology aiming to enhance security in blockchain applications while safeguarding privacy.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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