OKX Ventures, a subsidiary of a leading Web3 technology firm and cryptocurrency exchange, has provided funding for Polyhedra Network's Series A round. The network is developing an advanced framework associated with Web3, addressing concerns such as privacy, interoperability, and upgradeability through enhanced zero-knowledge (ZK) proof technology.

Polyhedra Network's zkBridge protocol establishes a trustless cross-chain infrastructure for interoperability between Layer 1 and Layer 2. By utilizing ZK-proof technology, zkBridge enables the recipient chain to validate specific state transactions from the forwarding chain, enhancing security and reducing on-chain authentication costs.

The zkBridge Mainnet Alpha, launched by Polyhedra in early 2023, offers interoperability with over twenty Layer 1 and 2 blockchains, including Bitcoin, BNB Chain, Ethereum, and Arbitrum. Protected by Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) technology, zkBridge is hailed as the first trustless, efficient, secure, and widespread cross-chain interoperability protocol.

Polyhedra Network introduced innovative services in 2023, including deVirgo, an allocated proof mechanism expediting proof generation and recursive proofs, thus reducing zkBridge's on-chain proof authentication costs. Additionally, zkBridge extended its Bitcoin messaging protocol using ZK-proof technology to establish trustless interoperability within the Bitcoin ecosystem.

Dora Yue, Founder of OKX Ventures, expressed excitement about investing in Polyhedra Network's interoperability platform. She praised the company's expertise in developing advanced ZK-proof procedures like deVirgo and paraPlonk, which balance ZK interoperability and upgradeability. OKX Ventures is committed to supporting Polyhedra Network's mission of seamlessly connecting the Web2 and Web3 sectors, thereby expanding the user base.

Established with $100 million in capital, OKX Ventures aims to identify promising blockchain-focused initiatives globally while fostering innovation in cutting-edge blockchain technology to promote global industry expansion.