Succinct offers a decentralized network for the generation of zero-knowledge proofs (ZKP), enabling developers to efficiently utilize this technology.
What is Succinct?
Succinct is developing a decentralized prover network open to anyone who needs to generate or request ZKPs. The network functions as a marketplace where developers submit proof requests, and independent provers compete to fulfill them.
How the Succinct Prover Network Works?
The prover network operates as a two-sided marketplace where developers request ZK proofs and provers generate those proofs. Matching of requests and provers takes place through an auction system using fast Remote Procedure Calls (RPCs) to ensure swift execution and reliable verification on Ethereum.
The PROVE Token and Its Functions
PROVE is an ERC-20 token that is central to the Succinct network. It serves as payment for proof generation, enables participation in auctions, and allows users to delegate their tokens to provers to share in their earnings. The token also plays a critical role in the governance of the system.
Succinct aims to establish the infrastructure for cryptographic proofs, opening up new opportunities for developers and various domains. The transition to decentralized governance via the PROVE token actively involves the community in decision-making.
