Polyhedra Network, a leading Web 3 infrastructure provider renowned for its pioneering zero-knowledge protocol, zkBridge, has successfully concluded a funding round totaling $20 million, resulting in a valuation of $1 billion, as announced in a press release on Thursday.Â
Spearheaded by Polychain Capital, the round witnessed enthusiastic participation from prominent backers including Animoca Brands, Emirates Consortium, Mapleblock Capital, Hashkey Capital, UoB Ventures, Symbolic Capital, Longhash Ventures, MH Ventures, Arkstream Capital, and Web3Port Foundation.
The cornerstone of Polyhedra Network’s offerings lies in leveraging zero-knowledge proofs, ensuring enhanced security and scalability for users. These cryptographic protocols enable the verification of blockchain statements without revealing any sensitive information, underscoring the platform’s commitment to privacy and integrity.
With a remarkable track record of over 20 million cross-chain transactions spanning 25 blockchain ecosystems, zkBridge employs immutable zero-knowledge proofs to validate sender-chain states and consensus, thereby ensuring trust and transparency at every stage.
Eric Vreeland, Polyhedra Network’s Chief Strategy Officer, emphasized the transformative potential of blockchain technology, asserting that zero-knowledge technology serves as the linchpin for unlocking its full capabilities.
The substantial capital infusion will fuel Polyhedra’s ambitious global expansion initiatives and talent acquisition efforts, marking the fifth successful financing round for the company within the last two years.
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