Succinct will launch PROVE token as the native asset of ZK proof network

Mars Finance News: According to The Block, Succinct, backed by Paradigm, announced the launch of the PROVE token as the native asset for its Ethereum-based zero-knowledge proof (ZKP) verification network. The network aims to build a decentralized marketplace connecting proof requesters with proof generators, supporting use cases such as blockchain verification, cross-chain bridges, and AI computing. The PROVE token will serve as the network's payment medium and core security incentive mechanism, used to pay proof generators, stake economic collateral, and participate in governance (such as adjusting network parameters). If provers fail to submit proofs on time or act maliciously, their staked tokens will be confiscated. Currently, the Succinct verification network is in the second stage of testnet, with version 2.5 about to be launched in preparation for mainnet deployment. In 2024, its core development team, Succinct Labs, completed a $55 million Series A funding round, led by Paradigm.