SAN FRANCISCO, December 8, 2022 /PRNewswire/ — ScalingX, a global developer community and accelerator dedicated to advancing Web3 and blockchain technologies, with a focus on scaling technologies such as Zero-Knowledge Proof (ZKP), today announced an incubation program to help relevant start-ups to gain initial traction.

The 12-week long incubation program called zkTech Camp aims to facilitate broader adoption of zero-knowledge technology in the Web3 and blockchain space. One of the eligibility criteria is that start-ups make use of a variation of ZKP technology. Eligible startups will not only get $100–500k Financing on a per-project basis, but you’ll also be offered a range of support and consultation on all aspects of starting a project, including branding and strategy, the token economy, market making and recruiting talent. The timeline and further details of the zkTech Camp will be announced on the official ScalingX channels after the announcement.

A zero-knowledge proof makes it possible to test the validity of a statement without revealing the statement itself. The technology is central to the vision of a more secure, private, and decentralized modern web, or Web3, for its user-permissioned scalability and privacy use cases.

In fact, many believe that ZKP is one of the major innovations that will drive the continued evolution of blockchain. However, the adoption of ZKP technology has not yet accelerated. Evidenced by the relatively small number of developer repositories and commits on Github: 1,317 repositories and 322,000 commits, compared to 57,207 and over a million when searching Ethereal-Developer related activities.

Lack of knowledge is one of the main hindering factors, among others. Founded by individual investor and entrepreneur Forbes 30-under-30 Chichi Hong and experienced venture capitalist and entrepreneur jayden weiScalingX works to lower the barrier to entry of this technology for the world’s most talented developers and entrepreneurs.

“Leveraging industry experience and connections, ScalingX offers full-cycle incubation services to connect the dots for entrepreneurs. We are pleased to announce the zkTech Camp to take our first step in bringing the ‘X’ factor to the development frontier. Web3,” Hong commented.

Hong is a passionate blockchain investor who has led investments in many notable Web3 projects, including Dfinity (seed round), Circle, CertiK (seed round), and Partisia. And Wei, an early adopter Bitcoin Y EtherealHe was previously the CEO of renowned blockchain venture capital Collinsstar Capital. Both also recognized from his experience a serious disconnect between the western and eastern ecosystems of the crypto world. Western countries led by the US currently lead technological innovation and the creation of new companies, while Asian countries have a larger population of crypto enthusiasts and highly educated investors. Therefore, another general mission of ScalingX is to help forge closer ties between the two ecosystems to ensure that promising projects gain the support of major venture capitalists and gain access to a truly global community.

In just a month since its inception, ScalingX has already run several online workshops and Twitter Spaces talks and panels with tech-savvy speakers and executives from top blockchain projects. Moving forward, ScalingX also plans to host hackathons, matchmaking roadshows, conferences, and other online and offline events to grow its community and ultimately facilitate truly powerful applications of cutting-edge blockchain technologies.

About ScalingX

ScalingX is a global developer community dedicated to the development of Web3 and blockchain technologies, with a focus on Zero-Knowledge Proof (ZKP) technology. Our goal is to promote the adoption of blockchain technology around the world through education. We support early-stage Web3 startups by helping them with talent recruitment, networking, fundraising, project incubation, public relations and branding, community building, and more. We are fully committed to building a more scalable, transparent, secure, and decentralized network of tomorrow.

Website: https://www.scalingx.xyz/
Github: https://github.com/scalingx/
Twitter: https://twitter.com/scaling_x

SOURCE ScaledX