On April 17th, the Zero-Knowledge Proof (ZK) infrastructure development team Polyhedra Network reached a strategic cooperation with Google Cloud to respond to the growing demand for this technology in the Web2 and Web3 markets. Both parties will open Polyhedra's cutting-edge research and proprietary algorithms to global developers through Google Cloud's Zero-Knowledge as a Service. With Google Cloud, global developers can efficiently execute large-scale specific proofs, achieving Performance optimization while ensuring reliability.
The significance of this collaboration is that Polyhedra can leverage the powerful computing performance of Google Cloud to handle massive web3 tasks. It can simplify the process of generating zero-knowledge proofs, allowing developers to use Polyhedra's innovative zero-knowledge proof technology to directly execute code in the cloud. It can also abstract complex proofs, allowing developers to focus on application construction and enjoy customizable underlying infrastructure.
At the same time, The First released an official statement that the ZK/USDT trading pair will be launched at 16:00 (UTC + 8) on May 23, 2024. As the latest project of OKX Jumpstart, ZK landed on multiple first-tier exchanges such as OKX, Bitget, and Gate on the same day as TGE. As of the time of writing, ZK is currently trading at 3.55 USDT, showing a relatively stable growth trend after overcoming the short-term selling pressure of airdrops. Including the latest completed strategic round of financing, Polyhedra Network's disclosed historical financing total has reached $45 million.
Why can Polyhedra Network be favored by so many celebrity VCs? Why can its valuation continue to rise? Today, let's briefly understand the full stack zero-knowledge proof protocol Polyhedra Network.
What is ZK (Polyhedra Network)?
Bitcoin, as the original blockchain technology, is constantly evolving. Since the emergence of the Ordinals protocol, its ecosystem has been rapidly expanding. In order to further strengthen the Bitcoin ecosystem, the market urgently needs a solution to achieve seamless interoperability between Bitcoin and its Layer 2 network, as well as interoperability between the Bitcoin ecosystem and other blockchain ecosystems such as Ethereum.
In order to address this interoperability requirement, Polyhedra Network has launched a Bitcoin cross-chain messaging protocol based on zkBridge. This innovative solution expands the functionality of Bitcoin, enabling it to seamlessly interoperate with various blockchain networks, including various Layer 1 and Layer 2 blockchain networks.
Polyhedra is a zk underlying technology service provider led by Binance Labs and Polychain Capital. Its zkbridge zero-knowledge proof cross-chain bridge has become the most widely cited zkp cross-chain bridge, with over 1,200,000 + on-chain interaction addresses and 9,000,000 + txns.
Polyhedra Network is building the next generation of secure, scalable, and interoperable Web3 infrastructure through advanced zero-knowledge proof technology. The team has developed and deployed multiple new generation zk-SNARK protocols, which have improved performance by several orders of magnitude compared to existing solutions on the market. Polyhedra's interoperability solution zkBridge has connected more than 25 blockchain networks and can use zero-knowledge proofs to verify the validity of cross-chain messages. Under the guarantee of zero-knowledge proofs, developers can build secure, scalable, and interoperable applications without additional trust assumptions.
In addition to ZK interoperability, Polyhedra Network also designed and implemented paraPlonk. In experiments, paraPlonk can provide acceleration for existing zkRollup systems. The paraPlonk protocol is a new generation of ZKP protocols based on Segregation-friendly and concise proof technology. Through the paraPlonk protocol, nodes in the cluster can jointly generate ZKP proofs in a way similar to joining a mining pool.
In the paraPlonk protocol, nodes in the cluster only need to broadcast and communicate a very small amount of data for proof generation. The paraPlonk protocol is compatible with Plonk and is a universal version of Plonk. It greatly reduces the communication overhead between distributed Plonk nodes while retaining all the advantages of Plonk. Therefore, any proof system based on Plonk can be migrated to paraPlonk with minimal modifications.
The protocol design of paraPlonk can also be compatible with other zero-knowledge proof systems (such as Marlin and Gemini). The Marlin and Gemini protocols were also invented by the founding members of Polyhedra Network, and the Marlin protocol is currently used in Aleo.
ZK (Polyhedra Network) Token Economics
According to public information, this is the fourth financing completed by Polyhedra Network in the past year.
Polyhedra Network's native token is $ZK, with a total supply of 1 billion tokens. The distribution strategy is as follows:
Core contributor 10% (100,000,000 ZK)
Foundation reserve 15% (150,000,000 ZK)
Community, Airdrop and Marketing 15% (150,000,000 ZK)
Investors 28% (280,000,000 ZK)
Ecosystem and network incentives 32% (320,000,000 ZK)
From the roadmap, Polyhedra Network expects to deliver multiple related achievements within 2024, including but not limited to:
Launch Polyhedra zero-knowledge proof generation service in the second quarter of 2024.
Enable basic smart contracts on Bitcoin using zero-knowledge proofs in Q3 2024, release zkVM compiler and zkVM Instruction Set Architecture (ISA).
Integrating PWS with existing zkEVM in Q4 2024...
The vision of Polyhedra Network is not limited to zkBridge, so its value cannot be measured by cross-chain interoperability protocols. Its value should come from the optimization potential of zero-knowledge proofs for various fields in the Web3 world.
In the long run, the Polyhedra Network after ZK TGE is moving towards a new narrative and opening a new chapter. In this process, it is expected that all parties involved in the operation of the ZK and Polyhedra Network ecosystem will also receive continuous value feedback.
The significance of this collaboration is that Polyhedra can leverage the powerful computing performance of Google Cloud to handle massive web3 tasks. It can simplify the process of generating zero-knowledge proofs, allowing developers to use Polyhedra's innovative zero-knowledge proof technology to directly execute code in the cloud. It can also abstract complex proofs, allowing developers to focus on application construction and enjoy customizable underlying infrastructure.
At the same time, The First released an official statement that the ZK/USDT trading pair will be launched at 16:00 (UTC + 8) on May 23, 2024. As the latest project of OKX Jumpstart, ZK landed on multiple first-tier exchanges such as OKX, Bitget, and Gate on the same day as TGE. As of the time of writing, ZK is currently trading at 3.55 USDT, showing a relatively stable growth trend after overcoming the short-term selling pressure of airdrops. Including the latest completed strategic round of financing, Polyhedra Network's disclosed historical financing total has reached $45 million.
Why can Polyhedra Network be favored by so many celebrity VCs? Why can its valuation continue to rise? Today, let's briefly understand the full stack zero-knowledge proof protocol Polyhedra Network.
What is ZK (Polyhedra Network)?
Bitcoin, as the original blockchain technology, is constantly evolving. Since the emergence of the Ordinals protocol, its ecosystem has been rapidly expanding. In order to further strengthen the Bitcoin ecosystem, the market urgently needs a solution to achieve seamless interoperability between Bitcoin and its Layer 2 network, as well as interoperability between the Bitcoin ecosystem and other blockchain ecosystems such as Ethereum.
In order to address this interoperability requirement, Polyhedra Network has launched a Bitcoin cross-chain messaging protocol based on zkBridge. This innovative solution expands the functionality of Bitcoin, enabling it to seamlessly interoperate with various blockchain networks, including various Layer 1 and Layer 2 blockchain networks.
Polyhedra is a zk underlying technology service provider led by Binance Labs and Polychain Capital. Its zkbridge zero-knowledge proof cross-chain bridge has become the most widely cited zkp cross-chain bridge, with over 1,200,000 + on-chain interaction addresses and 9,000,000 + txns.
Polyhedra Network is building the next generation of secure, scalable, and interoperable Web3 infrastructure through advanced zero-knowledge proof technology. The team has developed and deployed multiple new generation zk-SNARK protocols, which have improved performance by several orders of magnitude compared to existing solutions on the market. Polyhedra's interoperability solution zkBridge has connected more than 25 blockchain networks and can use zero-knowledge proofs to verify the validity of cross-chain messages. Under the guarantee of zero-knowledge proofs, developers can build secure, scalable, and interoperable applications without additional trust assumptions.
In addition to ZK interoperability, Polyhedra Network also designed and implemented paraPlonk. In experiments, paraPlonk can provide acceleration for existing zkRollup systems. The paraPlonk protocol is a new generation of ZKP protocols based on Segregation-friendly and concise proof technology. Through the paraPlonk protocol, nodes in the cluster can jointly generate ZKP proofs in a way similar to joining a mining pool.
In the paraPlonk protocol, nodes in the cluster only need to broadcast and communicate a very small amount of data for proof generation. The paraPlonk protocol is compatible with Plonk and is a universal version of Plonk. It greatly reduces the communication overhead between distributed Plonk nodes while retaining all the advantages of Plonk. Therefore, any proof system based on Plonk can be migrated to paraPlonk with minimal modifications.
The protocol design of paraPlonk can also be compatible with other zero-knowledge proof systems (such as Marlin and Gemini). The Marlin and Gemini protocols were also invented by the founding members of Polyhedra Network, and the Marlin protocol is currently used in Aleo.
ZK (Polyhedra Network) Token Economics
According to public information, this is the fourth financing completed by Polyhedra Network in the past year.
- In February 2023, Polyhedra Network completed a $10 million financing, led by Binance Labs and Polychain Capital, with participation from Animoca Brands, Dao 5, ABCDE Capital, and others.
- In April 2023, Polyhedra Network completed another $15 million PreA round financing, led by Polychain Capital, with participation from ABCDE Capital, Sparkle Ventures, HashKey Capital, Foresight Ventures, Kucoin Ventures, NGC Ventures, and Arcane Group.
- In January 2024, Polyhedra Network also completed Series A financing, the specific amount was not disclosed.
Polyhedra Network's native token is $ZK, with a total supply of 1 billion tokens. The distribution strategy is as follows:
Core contributor 10% (100,000,000 ZK)
Foundation reserve 15% (150,000,000 ZK)
Community, Airdrop and Marketing 15% (150,000,000 ZK)
Investors 28% (280,000,000 ZK)
Ecosystem and network incentives 32% (320,000,000 ZK)
From the roadmap, Polyhedra Network expects to deliver multiple related achievements within 2024, including but not limited to:
Launch Polyhedra zero-knowledge proof generation service in the second quarter of 2024.
Enable basic smart contracts on Bitcoin using zero-knowledge proofs in Q3 2024, release zkVM compiler and zkVM Instruction Set Architecture (ISA).
Integrating PWS with existing zkEVM in Q4 2024...
The vision of Polyhedra Network is not limited to zkBridge, so its value cannot be measured by cross-chain interoperability protocols. Its value should come from the optimization potential of zero-knowledge proofs for various fields in the Web3 world.
In the long run, the Polyhedra Network after ZK TGE is moving towards a new narrative and opening a new chapter. In this process, it is expected that all parties involved in the operation of the ZK and Polyhedra Network ecosystem will also receive continuous value feedback.
