OKX Ventures Invests in Cysic to Advance the ZK Revolution
SINGAPORE, May 24, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its investment in Cysic, which is a ZK (zero-knowledge) hardware acceleration company, and aims to expedite the generation of ZK proofs in a faster, more cost-efficient, user-friendly and decentralized manner.
Founded in August 2022, Cysic has quickly emerged as a trailblazer in the ZK hardware space with an ambitious objective: to deliver real-time ZK proof generation. The current slow pace of generating a ZK proof on a CPU has been a significant hurdle to the broad application of ZK techniques. Leveraging its expertise in ASIC design and GPU engineering, Cysic aims to address this hurdle by offering enterprise-grade ZK compute-as-a-service to an array of ZK projects.
Cysic’s ongoing efforts have been focused on specialized ASIC design for real-time ZK proof generation. As previously highlighted in Cysic’s blog post, the flexibility of the zkVM-based ASIC design enhances its final products, ZK Air and ZK Pro. With the compact size of a power bank or laptop charger, ZK Air can be connected to laptops, iPads, or even smartphones via a Type-C interface, thereby accelerating ZK proofs. ZK Pro, akin to traditional mining rigs, is designed to optimize ZK proof generation speed.
The funds raised from this round will be leveraged to bolster the company’s global expansion plans, hire new employees, and facilitate hardware production.
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About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
