As a seasoned crypto investor with a keen interest in web3 projects, I’m particularly excited about the latest development from Polyhedra Network (ZK). The launch of their new Expander Compiler Collection (ECC) is a significant step forward for this fast-growing project.
Expert: The rapidly expanding web3 initiative, Polyhedra Network (ZK), which aims to deliver enhanced computational capabilities and seamless cross-platform connectivity through Zero-Knowledge (ZK) technologies, has recently unveiled a new addition to its offerings. On a noteworthy Friday, the team behind Polyhedra Network introduced the open-source Expander Compiler Collection (ECC).
Based on the communication, the Efficient Circuit Consortium (ECC) empowers users to convert complex gnark circuits into streamlined layered structures. This transformation simplifies the process for web3 developers, allowing them to construct robust and compatible applications.
As a researcher on the Polyhedra Network team, I can explain that our system, ECC, is specifically designed to work with GKR protocols. It accomplishes this by converting your code into layered circuits in a swift and efficient manner for generating proofs. This native translation process enables us to ensure fast and effective proof generation.
The Polyhedra Network team pointed out that the creation of the ECC tool was facilitated by the Consensys gnark project. Additionally, the Ethereum network stands out as the premier DeFi ecosystem, boasting over $64 billion in total value secured (TVS), and offering seamless compatibility with other blockchains.
🎉 The compatibility of ECC with current circuit languages represents a significant advancement. Come join us at Expander as we push the boundaries further in the realm of cryptographic proofs. Be a part of this groundbreaking expedition—embrace the future of Zero-Knowledge technology with Polyhedra Network (ZKJ)!
— Polyhedra Network (@PolyhedraZK) May 31, 2024
Market Impact on Polyhedra Network
As a crypto market analyst, I’ve examined the current data from Coinmarketcap. The cryptocurrency project, Polyhedra Network (ZK), holds approximately $72 million in market capitalization and exhibits an average daily trading volume of around $28 million. This small-cap altcoin boasts over 254,000 individual holders based on available on-chain information. Notably, the top ten addresses collectively control over 92% of ZK’s entire token supply.
The introduction of the Expander Compiler Collection by Polyhedra Network is essential for the widespread use of the ZK token and other offerings from the company. Some prominent initiatives of Polyhedra Network are Proof Cloud, zkBridge service, and Gaming, to name a few.
As a data analyst, I’m excited to share that just last week, the Polyhedra Network unveiled their newest open-source innovation: Expander, a zero-knowledge proof (ZKP) system.
Significantly, the Expander project runs smoothly on Apple M3 max computers, delivering approximately 4,500 Keccak-f hashes per second.
“Our discovery with Expander paves the way for the development of numerous zero-knowledge (ZK) applications that can seamlessly integrate with Ethereum.”
Bigger Picture
The advancement of multichain technology has made it easier for web3 projects and digital assets to gain widespread acceptance. As reported by Coinspeaker, Polyhedra Network is particularly suited to expand the building of multichain infrastructure, having recently raised $20 million at a valuation of $1 billion.
Significantly, Polyhedra Network has the support of well-known web3 investors including Binance Labs, Animoca Brands, Polychain Capital, Mapleblock Capital, Emirates Consortium, UoB Ventures, OKX Ventures, and Hashkey Capital, among others.
I’ve invested in Polyhedra Network, a platform that currently supports over 25 different blockchains and boasts partnerships with over 80 ecosystem partners. According to their official website, their zero-knowledge bridge, zkBridge, has securely transferred over 20 million messages between these various networks.
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2024-05-31 17:09