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Irreducible, a German startup specializing in zero-knowledge proof (ZKP) generation services, has successfully raised $24 million in a Series A funding round. The round was co-led by Paradigm and Bain Capital Crypto. The funding is expected to enhance Irreducible's hardware/software co-design capabilities, which utilize FPGA chips to deliver faster ZKP generation. The interest in ZKPs is rooted in their potential to transform internet security and privacy, with some industry experts predicting that the market for ZKP generation could surpass that of crypto mining.
German crypto startup Irreducible raises $24m series A https://t.co/F1zaeFQ4sj
Irreducible, which provides zero-knowledge proof generation services powered by FPGA chips, raised a $24M Series A co-led by Paradigm and Bain Capital Crypto (@yogita_khatri5 / The Block) https://t.co/j1tuWCLeLv https://t.co/3jOmSR5hoZ https://t.co/ZOzeer2dpR
Thrilled to double down on @IrreducibleHW. I've long believed that Zero Knowledge Proofs (ZKPs) will change the internet, and that ZKP generation will be a bigger market than crypto mining. Irreducible's hardware/software co-design will give us the fastest ZKPs. Accelerate. https://t.co/sr6NNUR31I