Binance Labs, the venture capital and incubation arm of Binance, has recently announced an investment in Zircuit, an Ethereum Layer 2 network developer. This investment is said to be an undisclosed amount and aims to support Zircuit in its mission to enhance on-chain security through innovative technology.
Zircuit is described as an AI-powered zero-knowledge collection with sequencer-level security. Unlike traditional Layer 2 networks, Zircuit takes a unique approach to on-chain security by implementing advanced security measures. This includes parallelized circuits and AI-enabled security at the sequencer level, making it a more secure L2 solution.
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed support for Zircuit and its innovative approach to blockchain technology. He stated that Binance Labs is committed to supporting projects that drive innovation in the Web3 space and accelerate the growth of the blockchain industry. He believes that Zircuit has the potential to make significant strides in enhancing on-chain security.
In a tweet announcing the investment, Binance Labs highlighted Zircuit’s use of zk rollup technology and its focus on sequencer-level security. This tweet emphasized the importance of investing in projects that are pushing the boundaries of blockchain technology and exploring new ways to improve security measures on the blockchain.
It is important to note that the information provided by Binance Labs about their investment in Zircuit is not intended as investment advice. The purpose of this investment is to support Zircuit in its development and growth as it works towards creating a more secure Layer 2 network for Ethereum.
Overall, Binance Labs’ investment in Zircuit demonstrates the company’s commitment to supporting innovative projects in the blockchain space. By backing Zircuit and its unique approach to on-chain security, Binance Labs is contributing to the advancement of blockchain technology and helping to create a more secure and efficient ecosystem for decentralized applications.
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