Two major cryptocurrency exchanges have just added support for a recently launched zero-knowledge (ZK) altcoin.
In a new post X, Coinbase, the leading US cryptocurrency exchange, states that it allows trading of the crypto asset Brevis (BREV).
Binance, the world’s largest crypto exchange by volume, says it has also added support for the digital asset.
BREV, the native token of the Brevis blockchain project, is used for staking, proof of payments and decentralized governance.
The Brevis altcoin project aims to improve the utility of blockchain 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 website,
“Brevis is an intelligent ZK coprocessor that allows smart contracts to read from full on-chain historical data, such as states, transactions, and events, from Ethereum and other chains, decode it with developer-specified logic, and execute customizable calculations in a completely trustless manner.
The blockchain can hand off the computing tasks to Brevis for fast and inexpensive computing. Brevis then generates a ZK proof for the calculation results, which can be transparently verified on-chain, providing a data-driven user experience for decentralized applications (dApps).
Brevis raised $7.5 million in a seed round from leading venture capital firms such as 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 capitalization of $110.1 million.
BREV is trading at $0.44 at the time of writing.
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