Paradigm-backed startup Succinct Labs announced Wednesday that it is working with: Office
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Labs, a major contributor to the Optimism protocol, is working to “solve” ZK rollups.
“Over the past few months we’ve been working closely with OP Labs. “The team has built OP Succinct, a seamless way to upgrade any OP Stack chain to use zero-knowledge proofs in under an hour,” Succinct wrote in a post on X.
Optimism is a layer 2 scaling solution for Ethereum that aims to provide faster and cheaper transactions while maintaining the security and compatibility of the Ethereum mainnet. It uses Optimistic rollups to bundle multiple transactions into one, reducing the load on the Ethereum network, lowering transaction fees and reducing processing times.
Succinct Labs, which raised $55 million in a seed and Series A funding round led by Paradigm in March, says its new approach is much faster than “standard optimistic rollups” with a “seven-day fraud protection window” and costs “one-tenth of a cent per transaction” on average.
“OP Succinct was built in close collaboration with OP Labs, whose team built the OP Stack from the ground up to be modular and provide a path to support a variety of validation mechanisms (not just optimistic fallacy proofs),” Succinct said in a blog post. “OP Succinct’s two-step integration requires minimal code and fits easily into existing deployments, including rollup service setup.”
Scaling Solutions
Layer 2 scaling solutions are built to solve the scalability and transaction speed issues that hinder Layer 1 blockchains. Rollups are one of the available Layer 2 solutions, and include zero-knowledge rollups, or ZK rollups.
ZK rollups use cryptographic proofs to validate transactions deployed off-chain. This method provides faster transaction finality and lower gas costs than optimistic rollups, as it does not require a dispute period.
OP in June Labs has released a proof of error for its two-layer blockchain OP mainnet. The Proof of Fault system allows users to withdraw Ether and ERC-20 tokens from the OP Mainnet without the need for a trusted third party, allowing users to dispute and remove invalid withdrawals. Proof of Fault acts as a mechanism on the Ethereum Layer 2 network to allow users to dispute potentially fraudulent or incorrect transactions.
Previously, there was no proof of error on the OP mainnet, so users had to trust that operators would submit the correct state root to the mainnet.
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