Succinct launches the mainnet and activates the PROVE token to promote the large-scale application of ZK technology.

[Coin World] The blockchain infrastructure project Succinct announced the deployment of the Succinct Prover Network's mainnet and the activation of its native PROVE token. The Succinct Prover Network provides a decentralized marketplace on Ethereum, allowing applications to submit zero-knowledge proof requests, with independent provers competing to validate these requests. It enables developers to use ZK technology without custom setups, aiming to simplify the construction of secure, transparent, and scalable encryption infrastructure.

The project stated in a statement that the system will support everything from Ethereum (which has prioritized ZK as a task on its roadmap) to high-speed rollups that process tens of thousands of transactions per second, for compute-intensive applications such as trading and AI agents.

Succinct Labs Chief Technology Officer John Guibas stated: "Our goal from the very beginning was to make the proof infrastructure accessible at internet scale. The transition from the white paper to a usable Mainnet in just eight months demonstrates what can happen when engineering and encryption come together and focus on a goal."

The architecture of the network utilizes off-chain execution and on-chain settlement - similar to Layer 2 design. Proofs are periodically published to Ethereum, allowing any user to independently verify. Users interact directly with off-chain components to enhance performance, while settlement is enforced on-chain.

PROVE Token serves as a medium of exchange and is the backbone of the network's incentive and security model. "PROVE Token provides the economic foundation for paying verifiers and securing the network, thus enabling a universal payment rail for all ZK-supported infrastructure," the project states. PROVE Token holders can also participate in governance, deciding on network parameters such as emissions, auction design, and fee structures.

Succinct Labs CEO Uma Roy stated: "With the Mainnet launch, Succinct is ready to support the next generation of applications requiring verifiable computation. We believe ZK proofs will become the standard for integrating encryption technology with the broader internet, and we are proud to lead this transition."

The network claims to support over 35 protocols, including Polygon, Mantle, Celestia, and Lido, having processed over 5 million proofs from 1,700 programs and secured a value of over 4 billion dollars.

In May of this year, Succinct announced SP1 Hypercube, a next-generation zkVM designed for real-time Ethereum proofs, which aligns with Ethereum's roadmap that prioritizes ZK-based scalability without sacrificing decentralization. The following month, Succinct completed a ZK proof pilot on the Mainnet of World Chain, paving the way for Layer 2 to ultimately become a ZK rollup.

In 2024, the core developers of the project, Succinct Labs, raised $55 million in a Series A funding round led by Paradigm.