In a strategic move to bolster its zero-knowledge technology development, Polygon Labs has acquired Toposware, a zero-knowledge (ZK) engineering startup. The deal is aimed at integrating Toposware’s expertise with Polygon’s ongoing projects to advance the entire ZK community. Polygon Labs Targets Zero-Knowledge Tech Leadership With Toposware Buy On Tuesday, Polygon stated in a blog post […]
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Succinct Labs Raises $55M to Propel Zero-Knowledge Proofs Into Mainstream Development
On Thursday, Succinct Labs, a startup dedicated to democratizing zero-knowledge proofs, unveiled that it had secured million in funding through both seed and Series A rounds. Paradigm took the lead in this financial boost, with additional support from entities like Robot Ventures, Bankless Ventures, Geometry, and ZK Validator, among others. Succinct Labs Nets M […]
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LBank Labs Invests in QED: Unleashing Bitcoin’s Full Potential with Zero-Knowledge Proofs
PRESS RELEASE. LBank Labs has achieved a new milestone by participating in the million funding round for QED. This innovative venture is poised to revolutionize the Bitcoin ecosystem with its groundbreaking zk-Native blockchain protocol. The funding round, spearheaded by Arrington Capital, saw contributions from renowned venture capital firms such as Starkware, Draper Dragon, Blockchain […]
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QED Secures $3 Million in Funding to Propel Fully Trustless Zero-Knowledge Applications Across the Bitcoin Ecosystem
PRESS RELEASE. HONG KONG —February 26, 2024 – QED, the world’s first zk-Native blockchain protocol, announced today it has raised million in a funding round led by Arrington Capital with participation from several prominent venture capital firms and companies including Paper Ventures, Starkware Draper Dragon, Blockchain Builders Fund, Lbk Labs, Valhalla Capital, Edessa Capital […]
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Polygon Unveils ‘Type-1’ Prover Upgrade, Promising to Transform EVM Chains With Zero-Knowledge Proofs
Polygon Labs has rolled out its latest innovation, the “Type-1 prover.” This upgrade could introduce a new era for Ethereum Virtual Machine compatible chains, enabling the generation of zero-knowledge proofs while ensuring transaction costs plummet. Polygon Unveils ‘Type-1’ Prover to Enhance Ethereum’s Ecosystem Polygon Labs has launched the Type-1 zkevm prover upgrade. Developed in collaboration […]
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Near Foundation and Polygon Labs Partner to Build Zero-Knowledge ‘Prover’ for WASM Chains
Near Foundation and Polygon Labs recently announced that they would build “a zero-knowledge (ZK) prover for WASM blockchains.” For WASM chains using the zkWASM prover, settling transactions will be more efficient and cost-effective with maximum security guarantees.
Transaction Settling More Efficient and Cost-Effective
Near Foundation, the organization supporting the development of the NEAR ecosystem, has partnered with Polygon Labs to “build a zero-knowledge (ZK) prover for Webassembly (WASM) blockchains or zkWASM for short.” According to a joint press release, the two entities’ zkWASM prover, which is set to be launched in 2024, is positioned “to lead the market among other wasm provers.”
For WASM chains using this prover, the settling of transactions will be more efficient and cost-effective with maximum security guarantees. Commenting on Polygon Labs’ decision to partner with Near Foundation, co-founder Sandeep Nailwal said:
“We are proud to collaborate with NEAR on this exciting research initiative to further drive the development and adoption of ZK technology. The zkWASM prover maximizes developer customizability, which means projects will be able to select from a number of provers when building with CDK, whether that’s launching or migrating an EVM [Ethereum Virtual Machine] chain, or building a WASM chain for closer Ethereum alignment and access to liquidity.”
Bringing Zero-Knowledge Proofs to Web3
As explained in the press release, the availability of a zkWASM prover means NEAR validators will significantly simplify validator requirements which in turn leads to “better scalability and increased decentralization for the NEAR Protocol.”
Illia Polosukhin, a co-founder at NEAR Protocol, said her organization is thrilled to collaborate with Polygon Labs and is hopeful this will bring the advantages of zero-knowledge proofs to Web3.
Through the zkWASM prover, the NEAR Protocol is brought closer to Ethereum which in turn makes it possible for WASM networks to access liquidity. Eventually, chains will also have access to shared liquidity in a single ecosystem of Cloud Development Kit (CDK)-deployed chains through “an in-development interoperability layer.”
What are your thoughts on this story? Let us know what you think in the comments section below.
Zero-Knowledge WaaS a Prospective Standard Configuration for Web3 Application-Layer Products — Pengyu Wang
According to Pengyu Wang, the founder of Particle Network, developer solutions known as zero-knowledge wallet-as-a-service (ZK-WaaS) embody Web3 principles and “are highly performant” which in turn makes them “an evergreen solution that will become the industry standard.” Wang also points to how zero-knowledge technology helps ensure a core principle of Web3, asset sovereignty for end users, is upheld.
‘Complexities Associated With Traditional Web3 Wallets’
In written answers sent to Bitcoin.com News, Wang also pointed to how WaaS can turn out to be a developer solution that ultimately brings the masses to Web3. According to the Particle Network founder, this is due to the fact that WaaS wallets are not burdened with the “complexities [often] associated with traditional Web3 wallets.”
When asked about some of the complexities stopping prospective users from seeking to utilize Web3 wallets, Wang identified three main contributing factors. One of these factors relates to the perceived complexity of managing and safeguarding private keys and seed phrases. Poor user experience as well as the multiple signature requirement for on-chain transactions are the other two contributing factors.
Meanwhile, in the rest of his written answers sent to Bitcoin.com News via Linkedin, Wang also shared his views on intent-centric design in Web3 wallets and why this should concern both users and developers of decentralized applications. He also touched on how Web2 companies can better prepare for Web3 integration. Below are the rest of Pengyu Wang‘s answers to the questions sent.
Bitcoin.com News (BCN): For most users, wallets are where their Web3 journey begins, storing digital assets, facilitating transactions, and acting as users’ digital identities. What are some of the attributes of wallets you think contribute to complicating user interactions?
Pengyu Wang (PW): Some of the key issues that contribute to the complexity for users include:
- Private Key Complexity: Managing and safeguarding lengthy private keys and seed phrases can be daunting, especially for newcomers, creating security concerns.
- Poor User Experience: Many wallet interfaces lack user-friendly designs and essential features, making the user experience less intuitive and frustrating for those seeking easy access to NFTs or native token swaps.
- Multiple Signatures: Users often encounter multiple signature requirements during on-chain transactions. For instance, a simple USDC to ETH swap may involve a two-step process, adding friction to the user interaction. Streamlining this process can reduce friction and enhance the user experience.
BCN: What’s wallet-as-a-service (WaaS) and in what ways does it help developers build Web3 experiences accessible to not-so-crypto-savvy users? Also, how does it compare to the normal decentralized exchange or centralized exchange-based wallets?
PW: WaaS is a developer-friendly solution for seamlessly integrating Web3 wallets into native platforms, enhancing accessibility for all users. It appeals to non-crypto users as well by removing complexities associated with traditional Web3 wallets. Particle Network’s MPC-TSS technology provides users with a non-custodial embedded wallet, superior to centralized exchange (CEX)-based wallets.
Compared to conventional decentralized exchange (DEX) or CEX-based wallets, WaaS offers distinct advantages:
- Swift Onboarding: Particle’s WaaS enables new users to access Web3 in just 20 seconds, thanks to social logins integrated directly into the application’s interface. This is a significant improvement over traditional wallets, which can take several minutes to set up.
- Customization: Developers have the flexibility to tailor WaaS to suit their specific business requirements. They can seamlessly integrate it with their platform, incorporating features such as transaction capabilities and NFT displays.
- Enhanced User Efficiency: WaaS boosts user efficiency for on-chain transactions by eliminating the need to leave a dApp for transaction signatures. Users enjoy a seamless experience without switching to third-party external wallets, improving overall usability in Web3 applications (eg: Web3 mobile games).
BCN: Users tend to expect absolute sovereignty over their assets and information. Your company Particle Network recently unveiled the upgraded V2 of its WaaS solution with zero-knowledge technology. Could you tell our readers more about how this upgrade helps to ensure confidential transactions, login, and other interactions?
PW: By introducing zero-knowledge proof (ZKP) technology into our existing product suite, we’re enabling users to experience Confidential Login and Confidential Transactions. The Confidential Login feature ensures user login privacy by concealing the connection between their Web2 identities and wallet addresses. Users only need to plug into Particle Network and their activity will be protected with ZKP when using them. This approach aligns with our vision for Web3 wallet infrastructure, which goes beyond signature and private key management to encompass comprehensive data protection.
Regarding Confidential Transactions, our approach focuses on safeguarding user privacy at the address level rather than the asset level. This also enhances user transaction privacy through the use of one-time, temporary addresses, effectively preventing any linkage without the necessity for additional smart contracts or consensus layer forks.
BCN: Do you believe that ZK-WaaS will at some point become the standard configuration for Web3 application-layer products? If yes, can you share reasons to support your position on this issue?
PW: Absolutely, and here’s why. Our ZKwaas solution covers all the bases—Efficiency, Privacy, and Intelligence.
- Efficiency: We maintain user-friendliness with social logins, an efficient onboarding method for new users.
- Privacy Protection: With ZK technology, we are able to ensure absolute asset sovereignty for end users, which is a core principle of Web3.
- Intelligence: Our modular ZKwaas combined with Account Abstraction offers intelligent user interactions, including gasless transactions, session keys and other operations
In essence, it embodies Web3 principles, supports mass adoption, and is highly performant, therefore making it an evergreen solution that will become the industry standard.
BCN: According to various media reports, your WaaS solution has garnered more than 15 million users in about a year. What do you think helped you achieve this milestone?
PW: Our success can be summarized in three key points:
- Emergence of Pan-User Web3 Applications: The proliferation of pan-user Web3 applications, especially high-quality games and innovative social products, has been instrumental. These applications attract a broad audience, including existing Web2 users, driving demand for our B2B2C Wallet-as-a-Service products.
- Focused and Developer-Centric Approach: Our unwavering focus on WaaS has allowed us to effectively address both developers’ and end-users’ needs. We employ MPC-TSS technology for non-custodial security and offer a Smart WaaS solution. This not only benefits end-users with session keys and gasless transactions but also ensures developers’ concerns regarding security and privacy are addressed comprehensively.
- Strategic Partnerships: Strong industry connections, forged through partnerships with networks like BNB Chain, Linea, NEAR, Sei, and zkSync, as well as infrastructure partners like CertiK and Biconomy, have played a significant role in our growth.
BCN: What’s Intent-Centric Design in wallets, and why should decentralized app developers and users care about it?
PW: The need for intent-centric design arises from two key factors:
- Empowering User Autonomy: In the crypto industry, user empowerment is fundamental, granting control over assets, data, and information. However, this autonomy requires users to actively manage every minor on-chain operation, which can become cumbersome.
- Complex Interactions: With the evolution of the industry, blockchain scenarios have grown more intricate, involving numerous authorizations and subjective judgments. Users now face increased demands, such as setting gas fees and adjusting slippage.
Intent-centric design aims to preserve user autonomy while relieving the user from having to actively manage the underlying processes. Users only need to specify the start and end of their requirements, shifting user interactions from a transaction-based to a demand-based model.
BCN: In recent years, a growing number of Web2 companies have started experimenting with Web3 solutions to streamline their processes and strengthen their connections with users. Can you briefly discuss how Web2 companies can better prepare for Web3 integration and if WaaS is one tool that can help them in this endeavor?
PW: Facilitating Web2 companies in harnessing Web3 technology has been a core part of our mission. In addition to the previously mentioned WaaS features that ease the transition for Web2 users, we would like to highlight a real-world example involving Moongate, a non-fungible token (NFT) ticketing platform. They teamed up with offline events like ethereum (ETH) Singapore, ETH HK, and GM Vietnam to implement an NFT ticketing system.
They utilized our WaaS, enabling email login and fiat currency purchases for these NFT tickets. These tickets are sent to non-custodial wallets created by our service, fulfilling three needs simultaneously:
– Event organizers looking for Web3 features with a smooth ticketing experience.
– Web2 users at offline events find it user-friendly.
– Web3 users are able to acquire NFT assets easily.
What are your thoughts about this interview? Let us know what you think in the comments section below.
Manta Network Joins Forces With Web3 Consortium To Advance Zero-Knowledge Technology
Blockchain technology, albeit disruptive, has a few lingering problems that are holding it back from achieving mass adoption. Legacy blockchain networks often face criticism for their lack of scalability, interoperability, and slow throughput rates. While some progress has been made in these areas, a lack of privacy has emerged as another critical concern that needs to be addressed rapidly.
Thanks to the rapid advancement in technology, Zero-Knowledge (ZK) has emerged as a potential solution to all the problems that currently inhibit the blockchain industry. Since ZK is a relatively recent introduction, most of the blockchain universe isn’t fully aware of its potential. Realizing this, 22 Web3 and ZK companies recently formed a coalition to advance zero-knowledge to support scalability and mainstream adoption of Web3 through the ZPrize competition.
In this context, Manta Network, the Polkadot-based plug-and-play privacy protocol for Web3 and one of the core sponsors of the ZPrize competition, has announced that it is joining forces with Mina Protocol to sponsor ZPrize’s “Open Division” competition.
Manta Network and Mina Protocol will award the prize to projects that focus on maximizing throughput and minimizing latency of operations on client-type devices and blockchain-based Virtual Machines (VMs), specifically the WebAssembly (WASM) runtime. Along with sponsoring the Open Division event, both Manta and Mina teams will collaborate to solve the multi-scalar multiplication (MSM) and number-theoretic transform (NTT) operations, which are prerequisites ZK computations.
Shoumo Chu, a Manta Network Co-founder and Core Contributor, clarifies, “We have chosen to be the architect and sponsors in the open division because we truly care about WASM ZKP performance. We view the WASM ZKP performance as the ‘last mile problem’ for mass ZKP adoption. In order to get massive ZKP and privacy adoption, we have to get ZKP prover integration with popular wallets, and having improved WASM, prover performance is the way forward.”
Competition To Accelerate Zero-Knowledge Development
The ZPrize competition is an open-to-all competition with million in awards to raise awareness and accelerate the advancement of Zero-Knowledge technology to facilitate a wide range of use cases. There are several categories in the ZPrize competition, each catering to different aspects of advancing Zero-Knowledge technology.
Several companies, funds, and foundations are sponsoring the ZPrize competition. These organizations include 0xPARC, Aleo, The Algorand Foundation, Aztec Protocol, Anoma, CoreWeave, Celo, DZK, Ethereum Foundation, Espresso Systems, Findora, Harmony One, Manta Network, Kora, Mina Protocol, Polychain Capital, Polkadot Pioneers Prize, Polygon, RISC0, Trapdoor Tech, and Zero Knowledge Validator.
In this competition, participants will build open-source projects that benefit the blockchain world as a whole while competing for cash prizes. The primary goal of the ZPrize competition is to increase awareness of zero-knowledge cryptography’s potential while improving the performance of key general algorithms and increasing the diversity and availability of low-level libraries for cryptographic proofs.
According to Alex Pruden, the COO of Aleo & Founder of the ZPrize initiative, “The sponsors of ZPrize not only represent an industry but a united community of believers in this technology. We share a collective desire to turn these exciting academic ideas into a deployed reality. With the ZPrize, we’re advancing the state-of-the-art to form the bricks of the technological foundation that will scale and secure the next-generation web.”
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Samsung SDS to Use Zero-Knowledge Proofs on Business Blockchain
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