KR1 invests $200K in zero-knowledge proofs service Starks Network

CryptoNinjas » KR1 invests $200K in zero-knowledge proofs service Starks Network

KR1, a crypto & blockchain asset investment company, today announced its latest investment with the company investing a total of USD $200,000 in the Starks Network (STN) project. KR1 took part in Stark’s seed funding round, which was led by IOSG Ventures and Hypersphere Ventures.

Project: Starks Network

Starks Network enables computation and analysis of personal data without sending them to third parties, preventing private data from being stolen or misused.

The Starks Network enables a novel approach of Self-Sovereign Data and Self-Proving Computation and uses a zk-STARK based virtual machine for general-purpose computations, providing Zero-Knowledge Proofs as a Service (ZKPaaS) to other parachains in Polkadot or Kusama. As such, the network could become a backbone as a confidential computation infrastructure for the ecosystem in the future.

“Starks is a research-driven project coming out of academia and we are excited to support such a skilled team on their mission to bring data securely into blockchain applications while preserving users’ privacy. This opens up new opportunities and will help push the development of the blockchain space forward.”
– George McDonaugh, Managing Director and Co-Founder of KR1

CryptoNinjas » KR1 invests $200K in zero-knowledge proofs service Starks Network