According to Odaily, Horizen Labs has launched zkVerify, a dedicated zero-knowledge proof verification network designed specifically for settlement optimization. The company estimates that the cost of proof verification for zk-rollups on Ethereum alone reached $47 million in 2023. Industry research predicts that by 2030, zk proof generation will become a $10 billion market.
zkVerify eliminates the cost and complexity of computationally intensive proof verification for developers using zk-rollups. This presents a key unlocking solution for the scalability and adoption of decentralized applications. The launch of zkVerify is a significant step towards optimizing settlement processes and enhancing the scalability of decentralized applications. It also indicates the growing market potential for zk proof generation, which is expected to reach a substantial value by the end of the decade.