New York, Friday, November01, 2024 – Zero-knowledge (ZK) prover network ZEROBASE developed by Salus, said it had raised $5 million in a funding round aimed at expanding privacy-preserving compute infrastructure for ZK applications.
Major investors, including Binance Labs, Lightspeed Faction, and Matrix Partners, are backing this initiative, positioning ZEROBASE to meet the high demand projected in the ZK space.
With Web3 services anticipated to generate close to 90 billion ZK proofs by 2030, the market for such proofs is estimated to reach $10 billion.
ZEROBASE’s prover network aims to handle complex computational requirements, offering an impressive capacity for secure, real-time proof generation at scale, while maintaining user privacy through trusted execution environments (TEE) that guarantee confidential computation.
ZEROBASE also highlighted the network’s ability to address critical ZK challenges in speed, cost, and scalability.
ZEROBASE achieves proof generation in under 400 milliseconds, significantly outpacing current solutions and offering a cost-effective option for enterprises.
It emphasized that the network’s architecture and tamper-proof data handling make it a resilient solution for diverse applications, from AI to dark pools.
In a move to promote industry-wide ZK adoption, ZEROBASE plans to launch an open-source ZK library based on a decryption-enabled framework, facilitating broader applications in Web3.
By integrating with Layer 1 (L1) and Layer 2 (L2) ecosystems, ZEROBASE aims to bring ZK technology to a variety of real-world applications, marking a step forward in blockchain scalability and privacy.
