Polyhedra Network, a prominent Web 3 infrastructure provider known for its pioneering zero-knowledge protocol zkBridge, has successfully completed a $20 million investment round, resulting in a $1 billion value, according to a press release issued Thursday.
Polychain Capital led the round, which saw enthusiastic participation from major investors such as Animoca Brands, Emirates Consortium, Mapleblock Capital, Hashkey Capital, UoB Ventures, Symbolic Capital, Longhash Ventures, MH Ventures, Arkstream Capital, and the Web3Port Foundation.
The cornerstone of Polyhedra Network’s solutions is the use of zero-knowledge proofs, which ensures better security and scalability for customers. These cryptocurrencygraphic algorithms allow for the verification of blockchain assertions without disclosing any sensitive information, demonstrating the platform’s dedication to privacy and integrity.
With a track record of over 20 million cross-chain transactions across 25 blockchain ecosystems, zkBridge uses immutable zero-knowledge proofs to authenticate sender-chain states and consensus, maintaining confidence and transparency throughout the process.
Eric Vreeland, Polyhedra Network’s Chief Strategy Officer, stressed the revolutionary power of blockchain technology, claiming that zero-knowledge technology is the key to unlocking its full potential.
The considerable capital infusion will support Polyhedra’s ambitious worldwide expansion objectives and talent acquisition activities, marking the company’s sixth successful funding round in the previous two years.
