What is the Polyhedra Network?

The Polyhedra network is an infrastructure built using zero-knowledge proof (ZKP) technology to achieve privacy and interoperability. In cryptography, zero-knowledge proof (ZKP) is a way to prove something is true without revealing the data.

The ZKP technology requires two parties, the prover and the verifier. The Polyhedra network conducts transactions between the sending and receiver chains. Using zkSNARKs, the prover convinces the receiver chain that a particular state transition occurred on the sender chain.

Polyhedra is designed with APIs and SDKs, allowing developers and institutions to integrate its infrastructures into their applications.

The network has also developed protocols, such as the zkBridge, for cross-chain interoperability, a Distributed Proof generation system for scalability, and a zkDID feature for decentralized identity. It has also built applications like Ghostor that promote user privacy.

History of Polyhedra

On November 7, 2022, eight researchers released a paper on trustless cross-chain bridges and the practical application of the concept. The authors were Tiancheng Xie, Jiaheng Zhang, Zerui Cheng, Fan Zhan, Yupeng Zhang, Yongzheng Jia, Dan Boneh, and Dawn Song.

The Polyhedra project was launched on March 3, 2023, as a full-stack suite of ZKP-based solutions in the Web3 space. The researchers developing the project were from UC Berkeley, Tsinghua University, and Stanford University.

The project partnered with Galxe in April 2023 to launch its loyalty point program. The event was geared toward creating and engaging its community. It incentivized users’ engagement and contributions on the zkBride platform through ZK tokens. That same month, the zkBridge mainnet alpha was also launched.

By the end of 2023, the project had completed integrations on the Arbitrum, BSC, opBNB, and Bitcoin blockchains.

On February 21, 2023, the Polyhedra network raised $10 million in a funding round led by Binance Labs and Polychain Capital. In April of the same year, Polychain Capital led another funding round worth $15 million. March 14, 2024, the project raised another $20 million in a strategic funding round led by Polychain Capital, valuing the company at $1 billion.

Core components

Source: Polyhedra Whitepaper

Zero-knowledge Proof (ZKP)

Zero-knowledge proof technology is a cryptographic method in which the prover can prove to the verifying party that they know a value without revealing it. This is used when privacy and security are paramount for verifying sensitive data.

This concept is similar to proving that a locked safe contains a valuable item without opening it or disclosing its contents. A prover can demonstrate that they have the lock combination to a safe by performing a task without revealing the combination.

The Polyhedra project uses ZKP to verify transactions without revealing the details of the transaction itself. This ensures that the integrity of the transaction is maintained while the parties’ privacy is not compromised. This is the underlying concept behind Polyhedra’s protocols and platforms like zkBridge and Ghostor.

Block Header Relay Network

In Polyhedra, the ZKP infrastructure consists of the block header relay network and the updater contract. The block header relay network consists of interconnected nodes that operate a function called RelayNextHeader. This function takes the state of the updater contract as input, denoted by ( LCS{r-1} ) and ( blkH{r-1} ).

Then, it retrieves the next block and ensures it conforms with the previous block header in the sequence. To confirm the new block’s validity, the node inscribes a ZK proof ( \pi ) on the new block to show it has been accepted. This is then transmitted to the updater contract on the receiving chain.

The protocol integrated a round-robin system to avoid a potential collision and ensure proofs are submitted in an orderly. The system also aims to financially incentivize the nodes for successfully validating transactions using part of the fees incurred in the transaction.

Updater Contract

The updater contract is part of the recipient blockchain and serves two essential functions. The first is the HeaderUpdate function, accessible to any block header relay node.

This function allows nodes to submit what they believe to be the following block header, along with an accompanying ZK proof. If the submitted block and proof pass the necessary checks, the contract updates the state of the recipient chain to reflect the new block header. It also requires the node to pay a fee as a deterrent against denial-of-service (DoS) attacks.

The second function is the GetHeader function, which allows the receiver contract to retrieve a block header at a specific height. This process usually involves assisting third-party applications (dApps) and users relying on up-to-date and accurate blockchain data.

Light Client Protocol

The Polyhedra light client protocol is designed to work with blockchains that run light client protocols. This allows the light client to interact without requiring the storage and verification of the entire blockchain.

The Polyhedra light client protocol compiles its transactions into zk-SNARK circuits, which can prove that the executions are correct. This lets the receiver chain side verify the light client protocol’s execution with little effort.

The zkLightClient integrates ZKP technology with LayerZero’s messaging protocol. This allows developers to utilize ZKP technology when building cross-chain applications efficiently.

Features of the Polyhedera Ecosystem: zkBridge and Proof Cloud

zkBridge

Source: Polyhedra Website

The Polyhedra zkBridge is an advanced cryptographic protocol that uses zk-SNARKs to transfer tokens, data, and NFTs between chains securely. It promotes privacy and security by verifying transactions across blockchain networks without revealing underlying transaction data.

The protocol uses the block header relay network to retrieve, prove, verify, and send blocks to the updater contract. The updater contract acts as a light client, maintaining the state of the sender chain and updating it with new block headers as they are validated.

The zkBridge leverages zero-knowledge proofs to improve the compatibility between blockchains, allowing for efficient transfers of assets and data. This will enable Polyhedra to provide tools to improve interoperability in the crypto space.

Proof Cloud

Source: Polyhedra Website

The Proof Cloud platform is a cloud-based service created in a collaboration between {polyhedra and Google. It is designed to allow ZKP-based protocols and applications to scale in environments that require privacy and security.

The platform uses Google Cloud’s Blockchain Node Engine to streamline ZK workloads for proof generation and reduce complexities. The reduced complexity would allow developers to focus on creating and launching applications. The partnership with Google Cloud also explores a potential ZKP integration with Google Cloud’s Vertex AI, which could lead to privacy-focused machine learning solutions.

The platform allows developers to generate ZK proofs, leveraging Polyhedra’s algorithms and Google Cloud’s infrastructure. This would enable the project to meet the growing demand for ZK technologies, providing ZK-as-a-service on Google Cloud.

zkBridge NFT

The ZkBridge NFT feature on Polyhedra utilizes the zkBridge’s cross-chain NFT transfer capability to move NFTs across different blockchain networks. Users must collect information such as the NFT’s token address, token ID, recipient’s address, and destination chain on the sender chain to use the platform.

The user fills in the needed information and initiates an NFT transfer, which requires creating a zkProof for the block header of the sender chain. The receiver chain’s updater contract verifies this proof, ensuring the transfer’s integrity.

The receiver uses the redeem feature to complete the transfer when the transfer has been verified. The user must collect and paste the sender transaction hash to trigger the zkReceive function. The function calls the source chain ID, source block hash, and zkProof to decode the payload and complete the transfer.

zkBridge Message

The zkMessenger or Greenfield zkMessenger, is a communication protocol introduced by Polyhedra Network in collaboration with BNB Greenfield. This is the first cross-chain data availability solution that integrates BNB Greenfield with zkBridge technology.

It facilitates sending Web3 emails across various blockchain networks with the same ease as web2 email services. It also ensures data protection through the combined security features of BNB Greenfield and ZK proof.

The messaging protocol was released to aid developers and open new avenues for secure and efficient cross-chain communication within the decentralized ecosystem.

Gaming: Legend Game

The Star Legend game is an omni-chain gaming infrastructure powered by zkBridge designed to meet the needs of Web3 users. The game’s premise features an element called “LEGEND,” which can manipulate space-time.

Players can summon characters known as Resonators with traces of the LEGEND element. These Resonators are initially drawn on blockchains with low gas fees and rapid finality, like opBNB, with hidden features.

Players must use zkBridge to transfer these hidden features to other chains, such as BNB, Polygon, Arbitrum, Mantle, and more, to activate these hidden features. This grants access to exclusive utilities and privileges.

Polyhedra Ecosystem

The Polyhedera ecosystem consists of a network of Web3 projects, each contributing unique functionalities to the overall goal of interoperability. At the center is the zkBridge that leverages the efficiency of zero-knowledge proofs.

Then, there is Animoca Brands, a collection of entities that develop blockchain games, traditional games, and other products. Similarly, Arena of Faith introduces a competitive tournament-centric MOBA game, incorporating play-to-earn elements and AI to enhance the gaming experience.

The ecosystem also includes Aspecta, an AI-powered identity network that supports builders. Arbitrum offers a Layer 2 scaling solution for Ethereum, emphasizing development on the blockchain. Babylon focuses on securing the decentralized economy.

Bitcoin’s blockchain is also represented in the Polyhedra ecosystem by projects like Atomicals Market and Bitmap, which provide marketplaces and explorers for Bitcoin-native assets.

Projects like BYTE CITY and BurgerCities explore the intersection of the metaverse and finance, offering platforms for digital collectibles and MetaFi applications. Blade Games and Bsquared Network further extend the ecosystem’s reach into gaming and Layer 2 solutions, showcasing the possible use cases for Polyhedra.

The BNB chain is also integrated into the ecosystem as a layer 1 and 2 project. Developers looking to build on Polyhedra are encouraged to submit details of their project to the Polyhedra Foundation.

What is the ZK Token?

The ZK token is the native token of the Polyhedra network, used for staking, governance, transaction fees, and cross-chain transacting. It was launched in March 2024 as an ERC-20 and BEP-20 token to provide economic security and incentivize the community.

The token has a total supply of 1 billion tokens and a circulating supply of 60 million. The tokenomics allocated 15% of the supply to community, airdrop, and marketing at the token generation event (TGE) with no cliff period and an unlock period spanning over 36 months

32% is allocated to incentivizing the network and ecosystem, with no cliff period and an unlock period over 36 months. 15% is assigned to the Foundation reserves, with no cliff period and an unlock period over 36 months.

26% is allocated to private sale token purchasers, with a cliff period of 24 months and an unlock period of 24 months. 2% is allocated to pre-TGE purchasers, with a cliff period of 1 month and an unlock period of 24 months. 10% is allocated to core contributors, with a cliff period of 24 months and an unlock period of 48 months.

Is the ZK Token a Good Investment?

The Polyhedra network uses the ZK token for service fees, cross-chain transactions, staking, economic security, and governance. It allows users to pay for privacy services, participate in network decisions, and secure transactions between blockchains.

These utilities optimally place the token for community engagement, market stimulation, and passive income generation. As one of the projects pioneering ZKP technologies, the Polyhedra token gives early investors potential access to future financial benefits.

ZK is the project’s governance token, allowing holders to participate in governance and determine the project’s future direction.

Risk Analysis

Advantages

The Polyhedra project is built for interoperability, scalability, and security. It allows the trustless transfer of data, messages, and assets, allowing developers to create numerous projects. The project also prioritizes privacy.

With ZKP technology, polyhedra offers privacy-preserving identity solutions and credential verification without compromising user privacy. It also uses the bride to verify transactions without the need for external parties.

Finally, while the Polyhedra project offers reduced costs, it aims to reduce the prices and achieve an affordable transaction.

Disadvantages

A significant disadvantage is the project’s complexity. Using recent zkSNARK protocols and recursive proofs can be complex for users and developers aiming to develop on the network. The technology is still growing, reducing the adoption rate since the users and developers are comfortable with the existing system.

While this project does not rely on third-party entities, it relies heavily on the new ZKP technology, which is still under development. This lack of track record can make the Polyhedra project unappealing to conservative participants.

Challenges

Despite the established security protocols, the network is not immune to attacks, especially attacks specifically designed for cross-chain bridges. Another disadvantage is the technical barriers to implementing distributed proof systems and compiling light client protocols with zk-SNARKs.

A significant challenge is the price volatility surrounding the whole crypto space. The project is also subject to legal stipulations that govern the space, adding a layer of uncertainty to daily operations.

Competitive analysis

Polyhedra and Bonsai are web3 projects aiming to increase ZKP adoption through trustless transitions. The Polyhedra Network is a set of tools for developers to build applications focused on interoperability, scalability, and privacy. It has developed innovative protocols and offerings like zkBridge and zkDID.

Although Bonsai is not as publicly known, it aims to provide limitless computing power using a ZK compressor. It offers developers of all languages the ability to create massive ZK provings.

Unfortunately, the project allows users to run unaudited code on the platform, as opposed to Polyhedra, which maintains the integrity of its code.

How Can You Own ZK?

Users can follow a simple process to own ZK tokens and become a part of the Polyhedra ecosystem.

Setup a Wallet

One way to own ZK tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the ZK Tokens

Once users have acquired ZK tokens, they can explore the Polyhedra ecosystem by staking ZK tokens, conducting cross-chain transactions, bridging, and participating in governance.

Take action on ZK

Users can trade the ZK token here.