Binance has announced that it will invest in Delphinus Lab, powered by the first open source zkWASM virtual machine. This move of the leading exchange includes especially supporting the next generation Web3 applications.
Binance invests in EVM developer Delphinus Lab
Binance Labs announced its investment in Delphinus Lab, the infrastructure provider with the first open source zkWASM virtual machine. This virtual machine (VM) allows developers to develop applications using zero-knowledge (ZK) encryption in WebAssembly (WASM) environments.
Delphinus Lab aims to grow the next generation Web3 DApp ecosystem. For this purpose, it offers a special application-based rollup service that builds on the novel zkWASM application developed.
We're excited to announce we've invested in @DelphinusLab!
Delphinus Lab is an infrastructure provider that has implemented the first known open-source zkWASM virtual machine that supports trustless computation and application SDKs.https://t.co/geWtkfBShm
— Binance Labs Fund (@BinanceLabs) August 21, 2023
Meanwhile, the investment will be used for the development of zkWASM Hub, Delphinus’ zkWASM-based application rollup platform. This platform offers automated proofing and batch processes specifically for Web3 application development.
Binance Labs is the venture capital and launchpad arm of Binance. By investing in Delphinus Lab, the company is supporting an infrastructure provider that brings the zkWASM virtual machine to life. ZkWASM technology enables developers to create zero-knowledge (ZK) applications using their preferred programming language and deploy them in WebAssembly (WASM) supported environments. The combination of ZK technology with WASM increases the security and privacy of applications. It also provides a more reliable and decentralized digital environment.
Press releases
Yi He, Co-Founder of Binance and Binance Labs, made the following statements in the official announcement:
At Binance Labs, we are committed to supporting projects that build critical infrastructure to support the growth of Web3 applications. Delphinus Lab’s zkWASM implementation will herald a new wave of attracting Web2 developers into the Web3 landscape. We look forward to Delphinus Lab’s leadership in the zkWASM space and drive widespread adoption of Web3 applications among developers and end users.
Sinka Gao, Founder and CEO of Delphinus Lab, said the following about the investment and future plans:
Our zkWASM Hub offers an optimized multi-chain execution layer that allows developers to easily deploy and manage their WASM-based applications in a dynamic rollup environment. Our goal is to enable the next generation of Web3 DApps that embrace the resilience of Web2 and embrace the decentralized and reliable nature of Web3. We are excited to partner with a leading player, Binance Labs, and look forward to the adoption of WASM-based applications.
About Delphinus Lab
Delphinus Lab presents the first implementation of an open source zero-knowledge virtual machine designed to support WASM. Thus, it is at the forefront of zkWASM innovation in the Web3 space. cryptocoin.comYou can take a look at the prominent Binance Labs investors, which we have referred to as, on this page.
