Succinct Labs and OP Labs jointly launch Succinct to solve ZK Rollups problems

BlockBeats news, on September 12, Paradigm-backed startup Succinct Labs announced on Wednesday that it has been working with OP Labs, a major contributor to the Optimism protocol, to "solve" the problem of ZK Rollups.

"Over the past few months, we have worked closely with the OP Labs team to build OP Succinct, a seamless way to upgrade any OP Stack chain to use zero-knowledge proofs within 1 hour."

Succinct Labs raised $55 million in seed and Series A rounds led by Paradigm in March of this year. The company said its new method is much faster than "standard optimistic rollups", which has a "7-day fraud proof window" and an average transaction cost of only "a fraction of a cent"