Binance and Coinbase Abruptly Add Support for New ZK Proof Altcoin

Two top crypto exchange platforms just added support for a newly launched zero-knowledge (ZK) proof altcoin.

In a new X post, top US crypto exchange Coinbase says it is enabling trading of the crypto asset Brevis (BREV).

Binance, the world’s largest crypto exchange by volume, says it’s also added support for the digital asset.

BREV, the native token of the Brevis blockchain project, is used for staking, proof payments and decentralized governance.

The Brevis altcoin project aims to enhance blockchain utility by providing streamlined, off-chain processing using ZK proofs. ZK proofs can be used to verify transactions or other data on a network without revealing the underlying information.

Says the project’s website,

“Brevis is a smart ZK coprocessor that empowers smart contracts to read from the full historical on-chain data, such as states, transactions, and events, from Ethereum and other chains, decode them with developer-specified logic, and run customizable computations in a completely trustless way.

Blockchain can offload computation tasks to Brevis for fast and low-cost computation. Brevis then generates a ZK proof for the computation results, which can be seamlessly verified on-chain, providing a data-driven user experience for decentralized applications (dApps).”

Brevis raised $7.5 million in a seed round from high-profile VCs like Polychain Capital, YZi Labs (formerly Binance Labs), HashKey Capital, IOSG Ventures and Bankless Ventures.

Brevis, built on the Base and BNB Chain blockchains, is the 418th largest crypto project with a market cap of $110.1 million.

BREV is trading for $0.44 at time of writing.

Generated Image: Midjourney