Succinct

PROVE Price

About Succinct (PROVE)

Succinct is an applied cryptography project that provides infrastructure for the generation and verification of Zero Knowledge proofs.

• The project offers SP1, a Zero Knowledge virtual machine (zkVM) designed to simplify the development of verifiable applications.
• It operates the Succinct Prover Network, a decentralized marketplace where provers compete to generate proofs for users and applications.
• Succinct collaborates with major ecosystem partners, including Google and Coinbase, to integrate cryptographic guarantees into production environments.

What Is Succinct

Succinct is a platform dedicated to making Zero Knowledge technology accessible and scalable for the internet. Its primary value proposition lies in the SP1 zkVM, which allows developers to write programs in standard languages like Rust and generate Zero Knowledge proofs for them. This removes the need for specialized knowledge of complex cryptographic circuits.

Value in the system is driven by the demand for cryptographic proofs. The PROVE token is utilized through a dual mechanism of payments and staking. Applications pay for proof generation in PROVE, while provers must stake the token to participate in the network's decentralized auctions. As more rollups, blockchains, and verifiable applications integrate with Succinct, the demand for proof generation is designed to scale with the growth of the ecosystem.

What Makes Succinct Unique

• SP1 zkVM: A high-performance, general-purpose virtual machine that enables developers to use familiar programming languages to create Zero Knowledge proofs.
• Decentralized Prover Marketplace: Unlike centralized proof generation services, Succinct's Prover Network allows for a competitive, open market of provers, ensuring efficiency and resistance to censorship.
• High-Profile Partnerships: Succinct has documented collaborations with Google Quantum AI for elliptic curve research and Coinbase for adding Zero Knowledge proofs to the Base network.
• Quantum Resistance: The technology is designed to address future security threats, as demonstrated by research into proving quantum vulnerabilities using the SP1 infrastructure.

What Can You Use Succinct for?

• Protocol Service Fees: Users and DeFi applications use PROVE to pay provers for generating cryptographic proofs.
• Staking Rewards: Token holders can participate in delegated staking to support provers and earn a portion of the generated fees and foundation incentives.
• Network Participation: Provers stake PROVE to earn the right to participate in concurrent auctions for proof requests.
• Governance: Stakeholders will eventually use PROVE to vote on proposals and update network parameters, transitioning from a centralized security council to a community-led system.

How Does Succinct Work?

Succinct utilizes Zero Knowledge proofs, a method that allows one party to prove a statement is true without revealing the underlying data. The core of the system is SP1, which functions as a virtual machine that executes code and generates a corresponding validity proof.

The Prover Network operates as a marketplace where provers compete via auctions to fulfill proof requests. When an application needs a proof, it submits a request denominated in PROVE. Provers, who have collateralized their participation via Proof of Stake mechanisms, bid to generate the proof. The system ensures that the resulting proof is verifiable on Ethereum or other supported chains, providing cryptographic certainty of the correctness of the computation.

Team Info and Investors

The project is supported by the Succinct Foundation, which provides early incentives for network participation and ecosystem bootstrapping. While the specific names of individual founders are not detailed in primary documentation, the project is overseen by a security council during its initial phases. Succinct's technical development has attracted significant institutional interest, with partners like Google, Coinbase, and Polygon actively utilizing its infrastructure for cryptographic verification.

Where can you buy Succinct?

PROVE tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Succinct is Binance, where the most active trading pair PROVE/USDT has a trading volume of $361,655.20 in the last 24 hours. Other popular options include Coinbase Exchange and Gate.

What is the daily trading volume of Succinct (PROVE)?

The trading volume of Succinct (PROVE) is $5,706,787.86 in the last 24 hours, representing a -42.10% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Succinct (PROVE)?

Succinct (PROVE) reached an all-time high of $1.71 and an all-time low of $0.1735. It’s now trading -88.50% below that peak and 13.30% above its lowest price.

What is the market cap of Succinct (PROVE)?

Market capitalization of Succinct (PROVE) is $38,294,566 and is ranked #529 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of PROVE tokens (200 Million tokens are tradable on the market today).

What is the fully diluted valuation of Succinct (PROVE)?

The fully diluted valuation (FDV) of Succinct (PROVE) is $196,382,388. This is a statistical representation of the maximum market cap, assuming the maximum number of 1 Billion PROVE tokens are in circulation today. Depending on how the emission schedule of PROVE tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Succinct compare against its peers?

With a price decline of -7.50% in the last 7 days, Succinct (PROVE) is underperforming the global cryptocurrency market which is down -4.80%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add Succinct (PROVE) to MetaMask?

Adding Succinct (PROVE) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import PROVE as a token. You can copy PROVE’s contract address (0x6bef15d938d4e72056ac92ea4bdd0d76b1c4ad29) and import it manually, or if you've installed MetaMask's chrome extension, add PROVE to MetaMask with one click on CoinGecko.

Add PROVE to MetaMask.