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HomeFunding Polyhedra network secures $20 Million in funding

[Funding Alert] Polyhedra network secures $20 Million in funding

Polyhedra Network is developing cutting-edge zero-knowledge proof technologies to establish a Web3 infrastructure. ZK Bridge, a zero-knowledge interoperability protocol, was developed by Polyhedra Network, which raised $20 million at a $1 billion valuation.

Polyhedra Network is developing cutting-edge zero-knowledge proof technologies to establish a Web3 infrastructure. ZK Bridge, a zero-knowledge interoperability protocol, was developed by Polyhedra Network, which raised $20 million at a $1 billion valuation.

Animoca Brands, Emirates Consortium, Mapleblock Capital, Hashkey Capital, UoB Ventures, Symbolic Capital, Longhash Ventures, MH Ventures, Arkstream Capital, and Web3Port Foundation were among the investors in the round, which was led by Polychain Capital.

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With the money, the company hopes to strengthen itself as the leading zero-knowledge organization and encourage the use of trust-minimized interoperability on a global scale.

Polyhedra Network is developing cutting-edge zero-knowledge proof technologies to establish a Web3 infrastructure. With the help of zero-knowledge proofs, its interoperability solution, zkBridge, establishes connections between more than 25 blockchains and validates cross-chain messages. Without making any additional assumptions, developers working with Polyhedra Network may design safe, scalable, and compatible applications.

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Across the more than 25 blockchains that zkBridge connects, it has so far safeguarded over 20 million cross-chain transactions, including millions of messages sent.

“Blockchain technology is revolutionary because it allows for individuals and institutions to transact without a trusted intermediary,” said Eric Vreeland, chief strategy officer of Polyhedra Network, in the release. “Zero-knowledge technology is the key to unlocking blockchain’s full potential,” he added.

ABOUT Polyhedra Network

Polyhedra Network’s zkBridge, at the forefront of blockchain interoperability, increases cross-chain communications efficiency by utilizing zkSNARKs. With its strong solution for preserving consistent and accurate blockchain states across many platforms, this unique technology guarantees safe and smooth updates between blockchain networks. In terms of blockchain technology, it is revolutionary because it improves efficiency and security.

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