Binance Labs, the investment arm of the world’s largest cryptocurrency exchange Binance, has announced a strategic investment in Brevis, a ZK-coprocessor platform designed to enable new, verifiable use cases for decentralized applications (dApps) by facilitating secure, off-chain computations over historical blockchain data.
Binance Labs Chief Investment Officer Andy Chang touted the platform’s potential to expand blockchain capabilities without additional trust requirements in a statement. “The current smart contract landscape offers very simple computational capabilities and limited data access,” Chang said. “Brevis’ asynchronous architecture significantly enhances blockchain functionality, aligning with Binance Labs’ mission to support early-stage innovations that pave the way for Web3 adoption.”
“We are excited to have Binance Labs’ support as we accelerate our efforts to redefine verifiable computation on Web3,” said Michael Tung, Co-Founder of Brevis. “This investment allows us to bridge the gap between off-chain computation and on-chain trust, opening up new possibilities for data-driven decentralized applications.”
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/breaking-binance-labs-announces-new-cryptocurrency-project-invested-in-as-the-market-rises/