Binance Labs Makes Investment in Zircuit to Enhance L2 Security with AIPowered Sequencer Technology
On June 11th, 2024, in George Town, Grand Cayman, Binance Labs, the investment and incubation division of Binance, has made a strategic investment in Zircuit, a cutting-edge zero-knowledge rollup platform with AI-enhanced sequencer-level security.
Zircuit is a revolutionary Layer 2 (L2) network that introduces a fresh approach to on-chain security. The platform prioritizes user protection through sequencer-level security and automated AI mechanisms that shield against smart contract vulnerabilities and malicious actors. By blending battle-tested rollup infrastructure with zero-knowledge proofs, Zircuit offers a fast, cost-effective, and fully EVM-compatible ZK rollup solution that ensures unparalleled security without compromising speed or compatibility. The platform’s efficiency is derived from breaking down circuits into specialized components and consolidating proofs, resulting in enhanced efficiency and reduced operational expenses.
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed his enthusiasm for the project’s innovative security features, stating, “At Binance Labs, we champion projects that push the boundaries in Web3 and propel the blockchain industry forward. With its sequencer level security integration, Zircuit is paving the way for a more secure L2 solution, and we are excited to witness its continued growth and development.”
As Zircuit gears up for the launch of its mainnet this summer, its ecosystem is already experiencing remarkable expansion. The network currently boasts over $3.5 billion in staked assets, and its “Build to Earn” initiative has attracted over 1,100 applications. Ethena, Renzo, Ether.fi, KelpDAO, Elixir, Ambient, Pendle, LayerZero, and other prominent partners are part of its launch lineup.
Dr. Martin Derka, Co-Founder of Zircuit, highlighted the platform’s foundation in advanced scaling and security research, stating, “Zircuit is the result of cutting-edge innovation in scaling and security. By building on a robust technical framework, we are making Ethereum safer for the next wave of users. We are thrilled to have Binance Labs join us on this journey.”
Zircuit, a ZK rollup platform with AI-driven sequencer-level security and parallelized circuits, is developed by a team of seasoned web3 security experts and PhDs in computer science, algorithms, and cryptography. The platform’s unique architecture combines performance and security seamlessly. For more information, visit zircuit.com or follow @ZircuitL2 on Twitter.
Binance Labs, the venture capital arm and accelerator of Binance, has a portfolio valuation exceeding $10 billion. With investments in 250 projects from over 25 countries across six continents, Binance Labs has achieved an impressive ROI rate of over 14X. Fifty of Binance Labs’ portfolio companies have successfully completed its incubation programs. For additional details, follow Binance Labs on social media platforms.
Contact:
Jessica Graber
Zircuit
[email protected]
