- Two-step OP Succinct Integration
- OP Succinct Outperforms Standard Optimistic Rollups
- Succinct Labs Secures $55M in Series A Funding Round
Paradigm-backed startup Succinct Labs recently announced its collaboration with OP Labs, the main contributor to the Optimism protocol. Their partnership aims to solve ZK rollup issues.
Two-step OP Succinct Integration
The alliance's result, OP Succinct, is a method to upgrade any OP Stack chain to use ZK proofs within an hour. This new system features a two-step integration that requires minimal code changes and easily fits into existing deployments, including rollup-as-a-service setups.
OP Succinct Outperforms Standard Optimistic Rollups
Succinct Labs claims the new approach far surpasses standard optimistic rollups in speed. Standard optimistic rollups have a 7-day fraud-proof window and cost an average of a tenth of a cent per transaction.
Succinct Labs Secures $55M in Series A Funding Round
Succinct Labs successfully secured $55 million in Series A funding led by Paradigm. Other investors included Robot Ventures, Bankless Ventures, Geometry, ZK Validator, Polygon, and EigenLayer.
The partnership between Succinct Labs and OP Labs aims to enhance ZK rollup technology. With successful funding and support from key players, the new system promises significant improvements in transaction speed and efficiency.
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