CDS Startups For Proof Marketplace The =nil; Raises $22M

For Proof Marketplace The =nil; Raises $22M

The =nil; Foundation Raises $22 Million

To develop its Proof Marketplace, which will enable cryptosystems to outsource the creation of zero-knowledge (ZK) proofs, the Ethereum research and development company =nil; Foundation has raised $22 million. The fundraising round led by Polychain Capital intends to decentralize and simplify the development of zero-knowledge projects.

What is ZK?

ZK cryptography has become increasingly common in the blockchain industry, with use cases ranging from data compression to privacy and security. The technology allows a so-called verifier to “prove” the truth of a statement by generating a series of letters and symbols known as a “ZK proof“.

Challenges in Zero-Knowledge Technology

Numerous cryptocurrency protocols now depend on zero-knowledge technology, from privacy chains like Zcash and Mina to Ethereum scaling schemes like zkSync and Starknet. But because producing proofs is an expensive, technically challenging, and time-consuming activity, ZK protocol developers frequently encounter difficulties.

Such obstacles make it more difficult to construct ZK platforms, whose dependability typically predicts the notion that anyone can produce ZK proofs as a means of decentralizing trust. Many ZK platforms today produce the proofs themselves or contract out the work to carefully vetted partners. Therefore, negating the majority of the technology’s claimed advantages in the name of bootstrapping.

Proof Marketplace and ZK Proofs

Protocols that require ZK proofs will be able to pay dependable third parties to produce them using the Proof Marketplace. For instance, a ZK blockchain bridge can pay a third party through the Proof Marketplace to create proof demonstrating the condition of the bridge.

The Proof Marketplace by =nil; allows projects from many ecosystems to buy and sell proofs because it is generally blockchain-independent. However, =nil; Foundation it appears that the technology was developed as a necessary step before eventually developing its own ZK-based blockchain ecosystem.


Written by

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Vega Ventures Leads Strategic Investment in BurgerCities for Web3 Gaming and Metaverse Development

Vega Ventures Leads Strategic Investment in BurgerCities for Web3 Gaming and Metaverse...

Web3 Game Studio Pomerium Secures $20 Million In Angel Investment

Web3 game studio Pomerium announced receiving $20 million in angel investment from...

Crypto Project Worldcoin Raises $115 Million in Series C Funding Round

Crypto project Worldcoin attracted attention with the 9-digit funding it raised in...

An Exclusive Angel Round Secured by RedStone Oracles with Support from Leading Web3 Builders

An Exclusive Angel Round Secured by RedStone Oracles with Support from Leading...