Phala Network announced on January 8 that it has deployed the first Layer 2 Op-Succinct rollup system on Ethereum. This project is the result of a collaboration with Succinct Labs and Conduit.
This new rollup aims to improve Ethereum’s scalability and performance by using Op-Succinct technology to optimize transaction speed, cost, and security.
Phala Network Launches Op-Succinct Rollup, Enhancing Ethereum Scalability
Op-Succinct integrates two technologies: Optimistic Rollups (Op) and Zero-Knowledge Proofs (ZK). Optimistic Rollups help improve the scalability of blockchain networks, while ZK proofs provide cryptographic assurance that verifies the validity of transactions.
By combining the two, Op-Succinct helps Ethereum process transactions faster, cheaper, and still ensures a high level of security.
“Developed through Succinct’s ZK expertise, this system enhances Ethereum’s scalability by providing low-cost rollups, fast execution, and high security,” Phala explain.
However, despite the announcement, there has been no positive impact on the PHA Token. In fact, over the past 24 hours, the Token has dropped nearly 6%.
Phala Network operates as a parachain in Polkadot. By migrating to Ethereum, Phala provides developers with a more secure and economical way to perform cryptographic computation.
Phala’s infrastructure enables secure and verifiable computation, making it easier for developers to transition from Web2 to Web3.
Phala also launched Phala Cloud on January 8, a secure platform for AI applications. Phala Cloud supports both CPU and GPU TEEs (Trusted Execution Environments), providing flexible billing and easy deployment. This breakthrough opens the door to decentralized AI agents.
Phala Network is famous as the execution platform for AI Web3, allowing artificial intelligence to recognize and interact with blockchain. Its polynomial system solves the challenges of AI implementation, providing a platform where developers can create impactless and trustworthy AI agents.
These agents are seamlessly integrated with on-chain smart contracts through AI-Agent Contract, ensuring safe and reliable interaction.
Furthermore, ai16z built its open source AI agent framework, Eliza, based on Phala’s TEE network. The latest announcement from Phala comes as there is growing attention on AI agents in the web3 space.
