Web3Caff Research releases a comprehensive report on the ZKP hardware acceleration project Cysic: Can ASIC chips unlock its billion-dollar market?
ChainCatcher news, the Web3 industry research and analysis platform Web3Caff Research recently released an in-depth report on the ZKP hardware acceleration project Cysic. Web3Caff Research researcher Bob pointed out in the report that zero-knowledge proofs (ZKP) have a history of nearly 40 years and are widely used in privacy protection and layer two scaling in blockchain. However, due to high computational resource consumption and slow verification speeds, user growth is limited. Therefore, hardware acceleration has become a key solution. FPGA and GPU have already implemented multiple ZKP products, while the more performant ASIC is considered the "Mount Everest" of the industry due to high costs and uncertainties. Currently, Cysic, as the only team developing ZKP ASIC, has the potential to unlock a market worth billions.The report further points out that ZKP is one of the core technologies of Web3, and ZKP hardware acceleration is still in its infancy. Compared to Cysic, both the current industry methods of operating open-source code libraries to accelerate GPUs and building FPGA clusters are still in the early trial-and-error stage. Cysic provides a user-friendly ZKP acceleration solution and is currently the only product open for testing and pushing to the market, with its testnet having entered Phase 2. Its performance is claimed to be 5 to 10 times faster than GPU acceleration, with plans to launch the mainnet by the end of 2024. Additionally, Cysic's ZK-ASIC hardware products are highly anticipated, with two models expected to be launched in 2025, targeting both enterprise (B-end) and consumer (C-end) markets. Although there are doubts about ZK-ASIC within the industry, from a long-term development perspective, introducing ASIC to establish a ZKP "mining" model could be a key step in promoting ecological development.
