Succinct Labs Launches SP1 zkVM Promising 10x Performance Boost and Cost Efficiency for Ethereum

Aug 8, 2024, 03:53 PM

Succinct Labs has announced the launch of SP1, a production-ready zero-knowledge virtual machine (zkVM) that promises significant improvements in performance and cost-efficiency. According to the company, SP1 is up to 10 times faster and cheaper than existing solutions, particularly for workloads like rollups. The benchmarks conducted by Succinct Labs indicate that the proving costs for average Ethereum blocks are just a few tenths of a cent per transaction. This development is expected to accelerate the adoption of ZK rollups, with every rollup potentially becoming a ZK rollup using SP1. The announcement marks a significant step forward in the zero-knowledge space, with further advancements anticipated in ZK proof verification.