State of Zero Knowledge Report [November 2023]

Cryptomeria Capital
4 min readNov 22, 2023


Cryptomeria Capital is proud to announce our annual “State of Zero Knowledge 2023” report created together with our research partners: Linea, Scroll, zkSync, Taiko Labs, Manta Network, O(1) Labs, AltLayer, Starknet, Kroma Network, Kakarot zkEVM, Cysic, IOSG Ventures, SpaceShard and INTMAX with the special thanks to our intellectual partner Arthur D. Little and our media partners Starknetics, Metaverse Post and ZK Seasons.


In the fast-paced world of technology, staying ahead of the curve is not just an advantage; it’s a necessity. Our latest report takes a deep dive into the dynamic evolution of the industry, raising critical questions that demand our attention. As we navigate through this transformative landscape, it becomes imperative to dissect the challenges that lie ahead.

The Technological Landscape

In the face of rapid technological advancements, the industry encounters multifaceted challenges. From cybersecurity concerns to regulatory intricacies, understanding and addressing these hurdles is crucial for sustainable growth. Our report meticulously reviews the current projects shaping the industry. From innovative startups to established enterprises, we analyze the diverse array of initiatives that contribute to the sector’s vibrancy.

Zero-Knowledge Proofs: A Game-Changer in Data Security

One standout in our exploration is the potential of Zero-Knowledge proofs to revolutionize data security. These cryptographic powerhouses have far-reaching implications. Our report delves into the intricate applications of ZK in diverse industries, shedding light on its transformative impact.

Looking Forward: A Strategic Vision

Navigating the future requires a strategic vision. Cryptomeria Team outlines a roadmap for industry stakeholders, offering strategic insights to harness the potential of emerging technologies and overcome the challenges that lie ahead.

Prognosis on Zero-Knowledge (ZK) Technology in 2024

As part of our commitment to staying at the forefront of technological trends, Cryptomeria Team presents a forward-looking prognosis on Zero-Knowledge (ZK) technology in 2024. Explore our insights into how ZK protocols are poised to redefine security and privacy paradigms, offering unparalleled solutions to emerging challenges.


As we stand on the precipice of unprecedented change, understanding the nuances of industry evolution is paramount. Cryptomeria Team’s comprehensive report serves as a guide for industry professionals, providing a roadmap to navigate challenges and capitalize on opportunities in the ever-evolving landscape.

We’re especially excited that the research is co-authored with our partners:

Scroll (, the community-first, native zkEVM built upon Ethereum — designed for scaling without sacrificing security, developer, or user experience

SpaceShard, an R&D blockchain lab, with a focus on Zero-Knowledge Proof technology, that supports blockchain primitives on all fronts

INTMAX, the most secure hyperscaling solution in Ethereum

Linea, a developer-ready ZK rollup that enables the next generation of Ethereum builders.

zkSync, a Layer-2 protocol that scales Ethereum with cutting-edge ZK tech.

Taiko Labs, decentralized, Ethereum-equivalent (Type 1) ZK-EVM.

Kroma Network, a pragmatic, adaptive, and user-friendly Layer 2 solution.

Manta Network, the first EVM-equivalent ZK-application platform that is scalable and secure through Celestia DA and Polygon zkEVM.

O(1) Labs, the catalyzers of a new generation of applications powered by zero-knowledge cryptography

AltLayer, a decentralized interlayer for rollups.

Starknet, a decentralized layer-2 network that enables Ethereum to scale securely and dapps to achieve unlimited scale for transactions and computation.

Kakarot zkEVM, an Ethereum Virtual Machine written in Cairo.

Cysic, the hardware for ZKP acceleration.

IOSG Ventures — a community-friendly and research-driven early-stage venture firm.

We also like to thank our intellectual partner Arthur D. Little and our media partners ZK Seasons, Metaverse Post, and Starknetics.

To access the full version of these insights, read the complete report HERE. Stay informed, stay ahead.

Cryptomeria Capital is an early-stage VC firm based in Dubai with a presence in Singapore and Hong Kong. The firm believes decentralized projects, cryptocurrencies, and Web 3.0 will dramatically reshape economic relations and focus on ventures, tokens, and projects related to blockchain technology and crypto assets. Cryptomeria Capital supports transformation by providing early-stage financing for ambitious projects in a rapidly developing industry.

The firm has a corporate partnership with Axon Partners Group, an international consulting and investment firm that has backed over 50 companies and trades on the BME Growth Market under the ticker “APG”.

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Cryptomeria Capital

Passionate about the future of decentralized technology, we are investing in early stage projects