Binance Labs, the venture capital arm of the world’s largest cryptocurrency exchange Binance, is driving the integration of artificial intelligence (AI) technology with blockchain in its latest investment.
In a recent move, Binance Labs revealed its investment in the new Layer 2 network Zircuit. Zircuit’s infrastructure combines technology with zero-knowledge proofs to provide fast, cheap, and Ethereum Virtual Machine (EVM) compatible transactions.
Martin Derka, co-founder of Zircuit, noted that the network’s architecture is designed to improve efficiency while reducing operational costs.
The announcement also mentioned the “Build to Earn” program, which has gathered over 1,100 applications from developers and secured key partners. Once these partners’ products go live in the next few months, the pledged assets will exceed $3.5 billion.
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According to him, they created Zircuit after extensive scaling and security research required for such networks. He added that these improvements are based on a strong technical foundation aimed at providing security for over a billion new users for Ethereum.
“Binance Labs believes in supporting projects that drive Web3 innovation and promote the development of the blockchain industry,” said He Yi, co-founder of Binance and head of Binance Incubator.
