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Cryptocurrency News Articles
Karak Taps Space and Time as Its Zero-Knowledge Coprocessor Solution
Jul 31, 2024 at 11:10 pm
Karak is tapping into Space and Time as its zero-knowledge coprocessor solution to power the trustless slashing and rewards for its Distributed Secure services.
Karak, a multi-chain restaking platform, has announced the integration of Space and Time's zero-knowledge (ZK) proofs solution to power trustless slashing and rewards for its Distributed Secure Services (DSSs).
According to an announcement shared with CoinDesk, Space and Time's integration will provide a crucial security layer for decentralized services within the Karak ecosystem. Built on Ethereum (ETH), Karak is a layer-2 project that aims to bolster user protection via universal security.
A ZK proofs solution for DSSsSpace and Time is a decentralized data warehouse that functions as a verifiable compute layer for blockchain and artificial intelligence applications. The platform offers a ZK proofs solution that scales, making it suitable for integration with smart contracts, large language models and enterprises.
Karak will utilize this technology for its DSS, which uses restaked assets to ensure security for various providers, including data availability marketplaces and zero-knowledge coprocessors. Space and Time's fast on-chain proofs will enable developers to quickly build and deploy DSSs on the platform.
In addition, Space and Time is also building its own distributed secure service on Karak, which will enhance the platform's ZK-compatible indexing solution and allow the Space and Time community to run indexing nodes.
Coinbase and Pantera Capital back KarakKarak, which recently closed a $48 million Series A round at a $1 billion valuation, counts Coinbase and Pantera Capital among its backers. The funds will be used to accelerate the development of Karak's universal security layer for Ethereum and the broader crypto community.
Karak aims to create a universal restaking layer that integrates the global crypto economy, including every asset and blockchain network.
“Many assets have lower opportunity costs versus ETH, meaning the Distributed Secure Service (DSS) has an easier and much more viable path to sustainable yields. In an ETH-only environment, a DSS has to compete against every ETH yield opportunity with a new, novel risk profile,” Karak wrote on X.
Karak's partners in the restaking ecosystem include Swell, ether.fi, Renzo, Kelp and Puffer Finance.
Wormhole was the first DSS onboarded to Karak, and the platform recently expanded its solution to offer native staking for Maker (MKR).
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