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About Psy Protocol
Psy Protocol is a zero-knowledge Layer 1, formerly QED Protocol. It targets the throughput ceiling created by redundant execution: every node re-verifies every transaction and state is global, so write conflicts grow with users. Psy uses the PARTH state model, giving each user a separate CSTATE tree per contract; users execute contract functions locally and generate proofs, and the network verifies proofs instead of re-running logic.
Realms shard proof collection, Proof Miners recursively aggregate them into a single block proof with recursive SNARKs, Coordinators hold contract code and checkpoints, and DA Miners store fine-grained state and answer availability challenges with proofs. Consensus, called PoUW, directs compute to aggregation. Account authorisation is defined by SDKeys, which can encode multisig, spending limits or agent logic; contracts compile through the Dapen toolchain into circuits, with a function-tree root acting as a whitelist.
Psy Protocol (formerly QED) is a PoW-based blockchain network. Its key milestones include: completing a $6 million seed round led by Blockchain Capital in 2023, which provided initial resources for R&D; officially launching its public testnet in September 2025, demonstrating a novel architecture combining client-side zero-knowledge proofs with a horizontally scalable state model (PARTH) to achieve internet-scale throughput while maintaining Bitcoin-level security; and subsequently achieving 521,000 TPS in internal benchmarks, with a $100,000 bounty offered for independent verification of this performance claim. These events mark the project's evolution from concept to a publicly testable network, with the TPS bounty representing a significant step toward transparent, verifiable performance claims.
In August 2026 Psy Protocol opened its public testnet with an interaction guide, after raising $9 million in total, a $6 million seed plus $3 million more, from investors including Blockchain Capital, Paper Ventures and Protagonist. The testnet claims a peak of 521,000 TPS, and the design stays on proof of work, trading energy for neutrality and censorship resistance rather than deriving trust from a validator set.
Architecturally, Psy Protocol's PARTH splits transactions into units that execute in parallel, with block times growing logarithmically as load rises. Zero-knowledge proofs are generated locally on user devices, and the network receives only encrypted state deltas and proofs, so sensitive data never leaves the device. Account identity is expressed as a programmable zero-knowledge circuit, or software-defined key, letting users choose signing schemes and security policies and letting AI agents transact without a human custodian holding a private key. The team says the design also removes MEV and gas auctions.
Psy Protocol will turn testnet throughput into reproducible benchmarks, finish developer tooling and an agent account standard before mainnet, and find first real load in private payments and agent settlement.
Carter Feldman — Founder & CEO; background in reverse engineering and security research, founded Psy Protocol (formerly QED Protocol) in 2023, $9M raised to date.
Tony Lu — Co-founder.
Yingmeng Ren — Head of Marketing.