Dialectic Announced Strategic Investment and Partnership with Suterusu
Dialectic has joined Defi Alliance, FBG, and smartBCH in supporting the important work of Suterusu.
Suterusu, the world’s first Layer-2 privacy protection protocol that does not require a trusted setup, has received a strategic investment from Dialectic.
Dialectic praised “we’ve been very impressed by their ability to adapt and evolve the protocol very quickly.”As a multi-chain maximalist. We believe that in the world of Web 3, Suterusu’s adaptability to multiple chains and technological innovations will enable them to surpass most current privacy solutions to become truly valuable privacy race leaders.
One of the world’s largest cryptocurrency funds based in Switzerland, Dialectic was founded by Ryan Zurrer, a former Polychain partner, and now manages more than $1 billion. Ryan is an early investor in Dfinity, Polkadot, a board member of Filecoin Foundation, and former head of investment at Web3.
Suterusu built a Layer-2 privacy protection protocol based on the original ZK-ConSNARK technology. It does not require a trusted setup ceremony which has been a big criticism to other zk-proof based solutions, and the proofs generated have near constant size with limited overhead generated through large input, and both proof generation and proof verification times have been reduced by over an order of magnitude compared to previous state-of-the-art benchmarks. The core technical papers were presented at one of the three flagship meetings of the International Society of Cryptography, the top meeting of the field of cryptography, known as Omicron 2021.
Since its launch, Suterusu has seen a surge in transactions, with more than $260 million in transactions after two months, 4.6 K +unique users, and over 2.4 million service fees.
