What is Succinct (PROVE)?

Deep Dive

1. Purpose & Value Proposition

Succinct addresses the complexity and cost of generating zero-knowledge proofs (ZKPs), a cryptographic method to verify data without revealing it. It functions as a decentralized, two-sided marketplace built on Ethereum. Applications (requesters) submit proof-generation jobs, and a global network of independent operators (provers) compete to fulfill them. This model lets developers access enterprise-grade ZK verification without building custom infrastructure, lowering the barrier for creating scalable and trustless applications (HTX).

2. Technology & Architecture

The protocol's technical core is the SP1 zkVM (zero-knowledge virtual machine), a 100% open-source engine written in Rust. A zkVM allows any program to be compiled into a format that can generate a verifiable proof of its correct execution. By supporting Rust—a language familiar to millions of developers—SP1 drastically simplifies ZK integration. The network uses an off-chain auction for matching requests with provers and on-chain settlement on Ethereum for finality and security (CoinTelegraph).

3. Tokenomics & Governance

The PROVE token has a total supply of 1 billion and serves three primary functions within the Succinct Prover Network. First, it is the payment medium: developers pay for proofs in PROVE, and provers earn it. Second, it enables collateralization and security: provers must stake PROVE, with funds at risk (slashing) for poor performance. Third, it grants governance rights, allowing stakers to vote on key network parameters and upgrades (HTX).

Conclusion

Succinct is fundamentally a decentralized verification layer that commoditizes zero-knowledge proof generation, powered by its SP1 zkVM and coordinated by the PROVE token. As ZK technology becomes central to scaling Web3, will Succinct's marketplace model become the default infrastructure for verifiable computation?