Binance Labs, the venture capital arm of Binance, has announced a strategic investment of $2.2 million in Delphinus Lab's zero-knowledge WebAssembly (zkWASM) virtual machine. This investment will support the ongoing development of Delphinus Lab's application rollup platform called zkWASM Hub, which aims to provide automated proving and batching services for Web3 applications.
Introducing zkWASM: A First-of-its-Kind Open-Source Virtual Machine
Delphinus Lab's zkWASM is being touted as the first known open-source virtual machine that supports ZK computation and application software development kits. This technology aims to facilitate the development of zero-knowledge (ZK) applications across different developer languages that can be deployed in WASM-supported environments.
Increasing Security and Privacy of Decentralized Applications
ZK-proof technology is widely recognized for its ability to enhance the security and privacy of decentralized applications (DApps). The zkWASM Hub will enable developers to distribute GitHub applications in its ecosystem through an auto compilation and updating service.
Delphinus Lab's Application-Specific Software Development Kits
Delphinus Lab has also implemented several application-specific software development kits in different languages across various applications. This includes dynamic programmable NFTs, fully on-chain games, high-performing trustless Central Limited Order Book (CLOB), and trustless oracles.
Bringing Robustness and Decentralization to Web3
Sinka Gao, the founder and CEO of Delphinus Lab, expressed hopes of creating Web3 decentralized applications (DApps) that combine the robustness of Web2 with Web3's decentralized and trustless nature. The zkWASM Hub aims to introduce a streamlined multi-chain execution layer for developers to easily deploy and manage their WASM-backed apps in a dynamic rollup environment.
Binance Labs' Investment Focus and Wider Ecosystem Impact
Binance Labs is looking to leverage its venture funds to support projects that enable scalability and onboard more users to Web3. The spokesperson noted that they are focusing on innovative technology, critical infrastructure, and solutions such as modular blockchains, liquid staking decentralized finance protocols, and ZK-proof solutions. This investment aligns with the growing influence of ZK-proof technology in scaling the Ethereum ecosystem.
ZK-Proof Technology Verifying Web3 Data Services
In related news, decentralized Web3 data service Space and Time is utilizing ZK-proof technology to cryptographically verify information queries within its ecosystem. The firm's Proof of SQL generates a SNARK cryptographic proof of a query within its decentralized data network, ensuring that users can trust the accuracy and integrity of the data query.
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