Binance Labs Makes Investment in Ethereum (ETH) Based Crypto Project
In a recent development, Binance Labs, the investment arm of the well-known cryptocurrency exchange Binance, has decided to invest in Zircuit, a developer of the Ethereum (ETH) Layer 2 network. The exact amount of the investment remains undisclosed.
Zircuit is a novel Layer 2 (L2) network that approaches on-chain security in a unique manner. It is an AI-powered zero-knowledge collection with sequencer-level security integration.
Yi He, the Co-Founder of Binance and the Head of Binance Labs, expressed his enthusiasm for the project, stating that they are always looking to support innovative projects in the Web3 space that can push the boundaries of the blockchain industry. He highlighted Zircuit’s enhanced security features and expressed excitement about its future growth and development.
Zircuit, also known as ZircuitL2, utilizes zk rollup technology with parallelized circuits and advanced AI-enabled security at the sequencer level. This approach sets it apart from traditional Layer 2 networks.
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