Zero-Knowledge Proof Technology Gains Momentum with Binance Labs Backing Delphinus Lab’s ZK-Proof-Powered Infrastructure
Binance Labs, the venture capital arm of Binance, has joined the growing interest and investment in zero-knowledge proof technology by investing in the ZK-proof-powered infrastructure developed by Delphinus Lab. This strategic investment involves Binance Labs supporting Delphinus Lab’s zero-knowledge WebAssembly (zk-WASM) virtual machine, which stands out as the first publicly known open-source virtual machine designed to facilitate ZK computation and application software development kits.
In an exclusive reveal by Cointelegraph, it has been disclosed that Binance Labs is injecting $2.2 million into Delphinus Lab. This financial infusion will play a pivotal role in advancing the ongoing progress of Delphinus Lab’s application rollup platform, known as zkWASM Hub. This platform is geared towards furnishing automated proving and batching services for Web3 applications.
We're excited to announce we've invested in @DelphinusLab!
Delphinus Lab is an infrastructure provider that has implemented the first known open-source zkWASM virtual machine that supports trustless computation and application SDKs.https://t.co/geWtkfBShm
— Binance Labs Fund (@BinanceLabs) August 21, 2023
WebAssembly (WASM) continues to play a pivotal role throughout the broader internet landscape as a virtual machine enabling the execution of code from popular programming languages directly within web browsers. In 2017, a collaborative effort involving Google, Mozilla, Microsoft, and Apple led to the development of WASM.
The objective of this infrastructure is to facilitate the creation of Zero-Knowledge (ZK) applications across various programming languages, which can subsequently be deployed in environments that support WASM. ZK-proof technology is widely recognized for enhancing the security and privacy of decentralized applications.
The zkWASM Hub also offers a platform for developers to integrate GitHub applications into its ecosystem via an automated compilation and update service. Binance Labs has highlighted that Delphinus Lab has successfully implemented application-specific software development kits in multiple languages, spanning diverse applications. These encompass dynamic programmable nonfungible tokens, entirely on-chain games, high-performance trustless Central Limited Order Book (CLOB) systems, and trustless oracles.
Sinka Gao, founder and CEO of Delphinus Lab, emphasized the company’s vision for Web3 decentralized applications that combine the robustness of Web2 with the decentralized and trustless nature of Web3. According to Gao, “Our zkWASM Hub introduces an efficient multi-chain execution layer, allowing developers to seamlessly deploy and manage their WASM-backed apps within a dynamic rollup environment.”
Binance Labs also expressed its intent to invest venture funds into the broader ecosystem, focusing on projects that facilitate scalability and explore application layers to onboard more users into Web3. The spokesperson additionally mentioned that their investment emphasis centers on innovative technology and essential infrastructure for powering emerging sectors. This encompasses modular blockchains, decentralized finance protocols utilizing liquid staking, and ZK-proof solutions.
As extensively explored by Cointelegraph, ZK-proof technology has played a transformative role in scaling the Ethereum ecosystem. Prominent entities such as ConsenSys, Polygon, and ZK-proof pioneers StarkWare have been at the forefront of developing ZK-powered technologies and infrastructure.
Decentralized Web3 data service Space and Time leverages ZK-proof technology to cryptographically validate information queries within its ecosystem. The firm’s Proof of SQL generates a succinct non-interactive argument of knowledge (SNARK) cryptographic proof for queries within its decentralized data network. This empowers users to trust the accuracy and integrity of data queries, ensuring they remain unaltered.