• Ticker: PROVE
• Network: Ethereum
• Category: Zero-Knowledge, Infrastructure, Scaling

About PROVE

PROVE is an ERC-20 token on the Ethereum network, and the native utility token of the Succinct Prover Network, a decentralized marketplace for generating zero-knowledge proofs (ZKPs) a decentralized marketplace for generating zero-knowledge proofs (ZKPs). In this network, requesters such as ZK applications, rollups, base-layer blockchains, cross-chain bridges, and off-chain compute systems use PROVE to pay provers for generating zero‑knowledge proofs that verify computations without revealing the underlying data. Provers must stake PROVE to participate and earn rewards for completed proofs. PROVE is also used for protocol governance and can be delegated to provers, allowing token holders to earn a share of network fees.

Key points

• Decentralized ZK Marketplace: Succinct connects proof requesters (developers) with a global network of Provers who compete in reverse auctions to generate ZKPs, ensuring efficiency and low costs.
• Payment: $PROVE serves as the medium of exchange. Developers pay in PROVE for the service, and Provers are compensated in PROVE for delivering valid and timely proofs.
• Security & Staking: Provers must stake PROVE tokens as collateral to participate. If they fail to deliver a proof on time, their stake can be slashed, aligning incentives and maintaining network reliability. Token holders who don't run a prover node can delegate their stake to earn rewards.
• Developer-Friendly: The network utilizes the SP1 zkVM, allowing developers to write provable code in familiar languages like Rust, dramatically simplifying the use of ZK technology.
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FAQs

• What is PROVE used for?

PROVE is used as a payment rail and a security mechanism for the Succinct Prover Network. Its utility is tied directly to the demand for verifiable computation: every time a blockchain, bridge, or application needs a ZKP, they must use $PROVE to pay the network. By staking PROVE, you contribute to the network's security and earn a fraction of the fees generated.

• How does PROVE work?

The token is an ERC-20 asset on Ethereum. It powers a two-sided marketplace:

1. Demand Side: Developers and blockchains submit proof requests, denominated in PROVE.
2. Supply Side: Provers, who have staked PROVE, compete to compute these requests. Staking PROVE acts as a guarantee that the prover will act honestly and deliver the proof quickly.

• How can I buy PROVE on Bitso?

1. Log in to your Bitso account or sign up if you don’t have one.
2. Go to “Buy/Sell” and select PROVE as the token you want to purchase.
3. Choose any available fiat currency (MXN, ARS, BRL, COP, or USD) as your base.
4. Enter the amount, review the details, and confirm your transaction.

You can track the token’s performance directly in the app.

Tokenomics

The PROVE tokenomics are designed to incentivize the supply of computational power needed for ZKPs, ensuring network reliability and security. The maximum supply is capped at 1 billion tokens. A significant portion of its long-term value comes from the locking of tokens via staking (as collateral by provers and through delegation) and its use for all network payments, which creates a closed-loop value cycle.

Example use case

Imagine a cross-chain bridge needs to securely verify that a deposit happened on Ethereum before releasing funds on another blockchain. Instead of relying on a trusted third party, the bridge submits a proof request to the Succinct Prover Network, paying in $PROVE. A Prover generates the necessary ZKP, backed by their staked PROVE collateral. The $PROVE token facilitates this entire trustless transaction, making the bridge faster and more secure.

Disclaimer

This Help Center article is for informational purposes only and does not constitute investment advice. Please conduct your own research (DYOR) and assess your risk tolerance before trading. As always, invest responsibly and stay informed.