News
Succinct and OP Labs team up on ZK rollups
Published
2 months agoon
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adminSuccinct Labs and OP Labs have collaborated on a zero-knowledge proofs solution that significantly improves transaction finality and gas costs compared to optimistic rollups.
On Sept. 11, Succinct Labs announced its partnership with OP Labs, a startup contributing to the development of the Optimism (OP) protocol, to create OP Succinct.
OP Succinct by Succinct Labs and OP Labs
Paradigm-backed Succinct and OP Labs’ collaboration on OP Succinct combines the general-purpose zero-knowledge virtual machine SP1 with OP Stack to deliver a zkEVM rollup.
With this new solution, upgrading OP Stack chains to utilize zero-knowledge proofs is now cheaper and faster. According to Succinct Labs, OP Succinct is also highly customizable.
“The modular design of the OP Stack makes it easy to convert an OP Stack rollup to a ZK rollup. OP Succinct’s two-step integration requires minimal code and easily fits into existing deployments–including rollup-as-a-service setups,” Succinct Labs posted on X.
Fast finality and lower gas costs
The ZK rollup development adds to the growing layer 2 scaling solutions ecosystem, with off-chain transaction proofing offering fast finality and reduced gas costs.
OP Labs and Succinct Labs, which secured $55 million in Paradigm-led funding rounds in March 2024, are bringing this to the market with OP Succinct.
Being able to upgrade an OP Stack to use ZKPs within an hour vastly improves the fraud-proof window of seven days applicable to standard optimistic rollups. Proving costs are also at 0.5 to 1 cent, compared to higher costs of 1.34 cents on OP Mainnet and 1.11 cents on OP Sepolia.
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Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump
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November 7, 2024By
adminGensler has been on the forefront of those actions, being openly skeptical of cryptocurrencies. Just last month, he reiterated his views haven’t changed. Speaking at NYU’s School of Law in Manhattan in October, he said: “With all respect, the leading lights of this field in 202[4] are either in jail or awaiting extradition right now.”
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Blockchain
Eclipse launches public mainnet of first SVM L2 on Ethereum
Published
9 hours agoon
November 7, 2024By
adminEclipse Foundation announced on Nov. 7 that Eclipse, a Solana Virtual Machine-powered layer-2 on Ethereum, had launched its public mainnet.
The milestone is a key step in Eclipse’s quest to bring the best of both Ethereum (ETH) and Solana (SOL) to users, Eclipse Foundation said in a press release.
Vijay Chetty, CEO of Eclipse, noted that bridging these leading networks for decentralized applications and finance could drive a new wave of ecosystem development. Key areas likely to see growth from increased dApp activity include DeFi, consumer applications, and gaming.
“Eclipse is uniquely positioned as the first solution to bridge the gap between Solana and Ethereum, offering a powerful platform that caters to both communities. Our goal is to empower developers from both ecosystems to build and scale their dApps like never before, unlocking new opportunities across the largest networks in the industry.”
Vijay Chetty.
Eclipse’s launch of the layer-2 public mainnet follows its developer-focused mainnet release in October. Since then, the platform has expanded its ecosystem by integrating projects such as Orca, Nucleus, and Save.
Developers on Eclipse can utilize Solana’s parallel execution capabilities and Ethereum’s liquidity and security, alongside access to Ethereum’s vast user community and asset base. Eclipse’s architecture enables developers to leverage the Solana Virtual Machine for scaling and enhanced user experiences.
As a result, Eclipse aims to eliminate the previous fragmentation that required developers to choose between the two ecosystems.
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Bitcoin
Benjamin Cowen Issues Bitcoin Alert, Says Potential Plunge ‘That Scares People’ Incoming – Here’s His Outlook
Published
14 hours agoon
November 7, 2024By
adminWidely followed analyst Benjamin Cowen is issuing a warning on Bitcoin (BTC) as the flagship crypto asset trades near its all-time high.
In a new video, Cowen tells his 820,000 YouTube subscribers that Bitcoin could turn bearish around one month after the US general election.
“I just want to put that out there as one potential outcome that following the election, there’s going to be a lot of really bold calls as to what will happen. And what I think could happen is a drop sometime in early December that scares people. And I think it might be around the time of the labor market release [Non-Farm Payroll report is scheduled for December 6th].”
According to Cowen, Bitcoin could drop somewhere between 12% to 46% from the current level if the bearish scenario plays out.
“What is unclear to me right now is whether that drop by Bitcoin is just back-testing this [around $65,000] and then going up in 2025 or if it’s back-testing down here [around $40,000] and then going up. That is what I still remain somewhat unsure of…”
At time of writing, Bitcoin is trading at $73,813, down about 2% from its all-time high of around $75,400.
The widely followed analyst says that his envisaged Bitcoin correction in December would likely be temporary if it happens.
“I could envision a scenario where after the political outcomes are all decided if Bitcoin doesn’t immediately move up and then it starts to crash people might assume that the cycle is over. But it could very well just simply be the soft landing scenario…
…you could get a situation where you know Bitcoin sort of falls here and then rallies on up to new all-time highs in 2025.”
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