Binance Labs Announces New Investment in AI-Enabled Layer-2 Crypto Project – Crypto News – Crypto News
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Binance Labs Announces New Investment in AI-Enabled Layer-2 Crypto Project – Crypto News

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1 year ago

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The venture capital and incubation arm of the world’s largest crypto exchange is advancing artificial intelligence (AI) technology-focused integration with blockchain in its latest investment.

In a new announcement, Binance Labs says it has invested in Zircuit, a new Layer-2 (L2) network with AI-enabled “sequencer level” security.

According to the announcement, Zircuit’s L2 combines rollup infrastructure tech with zero-knowledge proofs with the aim of creating fast, low-cost, and Ethereum Virtual Machine (EVM)-compatible transactions.

Says the project’s co-founder, Martin Derka,

“Zircuit was born out of cutting-edge scaling and security research. We’re innovating on top of a deep technical foundation, and making Ethereum safer for the next billion users. We’re thrilled to have Binance Labs join us in this journey.”

The network’s architecture aims to break down circuits and consolidate proofs with the goal of improved efficiency and lowered operating costs.

According to the announcement, Zircuit’s “Build to Earn” program has reviewed over 1,100 applications, and has top industry launch partners. The network already has over $3.5 billion in staked assets with the launch of its mainnet approaching in the coming months.

Says Yi He, Co-Founder of Binance and Head of Binance Labs,

“At Binance Labs, we support projects that are innovating in Web3 and accelerating the blockchain industry. Through its integration of sequencer level security, Zircuit is providing a more secure L2 solution and we look forward to watching it grow and develop further.”

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