ZK-proof Web3 infrastructure developer gets backing from Binance Labs
Zero-knowledge proof technology continues to garner interest and investment as Binance Labs becomes the latest firm to invest in ZK-proof-powered infrastructure developed by Delphinus Lab.
Binance’s venture capital arm announced a strategic investment into Delphinus Lab’s zero-knowledge WebAssembly (zk-WASM) virtual machine. The zk-WASM is being labeled as the first known open-source virtual machine to support ZK computation and application software development kits.
Cointelegraph can exclusively reveal that Binance Labs is investing $2.2 million into Delphinus Lab, with the funds set to facilitate the ongoing development of its application rollup platform, zkWASM Hub, which will provide automated proving and batching services for Web3 applications.
We’re excited to announce we’ve invested in @DelphinusLab!
Delphinus Lab is an infrastructure provider that has implemented the first known open-source zkWASM virtual machine that supports trustless computation and application SDKs.https://t.co/geWtkfBShm
— Binance Labs Fund (@BinanceLabs) August 21, 2023
WebAssembly (WASM) remains an important cog across the wider internet as a virtual machine that allows code from popular programming languages to be run natively on web browsers. WASM was developed in a collaboration including Google, Mozilla, Microsoft and Apple in 2017.
The infrastructure aims to facilitate the development of ZK applications across different developer languages that can be deployed across WASM-supported environments. ZK-proof technology is widely touted to increase the security and privacy of decentralized applications.
The zkWASM Hub will also allow developers to distribute GitHub applications into its ecosystem through its auto-compilation and updating service.
Related: Zero-knowledge proofs coming to Bitcoin, overhauling network state validation
Binance Labs also noted that Delphinus Lab has implemented several application-specific software development kits in different languages across multiple applications. This includes dynamic programmable nonfungible tokens, fully on-chain games, high-performing trustless Central Limited Order Book (CLOB) and trustless oracles.
A statement from Delphinus Lab founder and CEO Sinka Gao highlighted the firm’s hopes to see Web3 decentralized applications created that combine Web2’s “robustness” with Web3s “decentralized, trustless” nature:
“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 noted that it was looking to employ its venture funds into the wider ecosystem with a focus on projects that enable scalability while looking into application layers that could onboard more users to Web3.
The spokesperson added that its investment focus was on innovative technology and critical infrastructure to power 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 explored at length, ZK-proof technology has proved to be influential in helping scale the Ethereum ecosystem. A number of prominent companies, including the likes of 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 using ZK-proof technology to cryptographically verify 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, allowing users to trust that a data query is accurate and has not been manipulated.
Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains: Polygon Miden founder