Succinct: Pioneer of the Decentralization Proof Network

Succinct, as an innovative company focused on Decentralization proof networks, stands out in the competitive market with its advanced ZKVM technology. The company has successfully completed two rounds of financing, raising a total of 55 million dollars, demonstrating strong development momentum.

Despite the intense competition in the ZKVM field, Succinct has successfully secured a leading position in this arena with its advanced technological advantages. The company's core goal is to simplify the application of zero-knowledge proofs, making them more convenient and user-friendly. Notably, several well-known blockchain projects such as Polygon, Celestia, and Avail have chosen to use Succinct's infrastructure to build their ZKP systems, which not only reflects the market's recognition of its technology but also provides the company with a stable source of income.

The core technology SP1 of Succinct is a high-performance, general-purpose zkVM that greatly simplifies the development process of zero-knowledge proofs. SP1 supports various blockchain applications, such as Rollups, co-processors, and light clients. It is implemented in the Rust programming language, providing maintainable code that significantly accelerates the development and deployment process. More importantly, SP1 excels in both performance and cost, being regarded as the fastest zkVM currently available. In actual blockchain workload tests, SP1 has demonstrated extraordinary performance, with its ZKP proof cost being an order of magnitude lower than other zkVMs and even circuits, making it both cost-effective and fast in practical applications.

The team has strong strength

The strength of the Succinct team is equally impressive. The company was co-founded by Uma Roy and John Guibas. Uma Roy serves as the CEO and holds a master's degree in computer science from MIT, having previously worked as an engineer at Gantry. John Guibas graduated from Stanford University, bringing a solid technical background to the company.

Financing Overview

The financing journey of Succinct is equally remarkable. In the seed round of financing, the company successfully raised $12 million, with participation from several well-known venture capital firms. The subsequent Series A round raised an impressive $43 million, attracting the involvement of more heavyweight investors. Both rounds of financing were led by top venture capital firm Paradigm, highlighting the high recognition of Succinct in the capital market.

Participation Opportunities

Currently, Succinct is conducting a closed testnet trial, with a total of 25,000 slots available. Although most slots have been allocated, there are still about 2,000 slots up for grabs. Participants can obtain activation codes by creating relevant content, interacting with official social media, or mentioning Succinct in discussions.

The task design of the testnet is relatively easy, mainly including answering questions and fun activities such as mini-games. Participants' goal is to accumulate stars, and it is generally believed that the more stars one has, the higher the proportion of airdrops they may receive in the future.

After obtaining the activation code, participants need to activate their accounts on the official website and first transfer 10 test tokens. After that, the project party will regularly transfer test tokens to the testnet address for participants to use.

The testnet activities include image recognition, quizzes, and various mini-games. Among them, image recognition and quizzes do not consume tokens, while other games require consumption. Since the number of tokens is limited each week, participants need to devise strategies to earn more stars with each token.

The community generally believes that completing weekly free tasks such as image recognition and answering questions, and then using the remaining tokens to play the Turbo game is a relatively balanced strategy. This method ensures basic star accumulation while also gaining additional income through gaming.