In the blockchain, user profiles have personal data that is partially public even for identification. All transactions are recorded on the network, immutably. The solution to hiding public data in trading is Polyhedra Network.
Polyhedra Network is responsible for creating several layer 1 and 2 solutions in scalability and information security. Cross-chain technologies can connect different blockchains.
Zero knowledge proof
Polyhedra works based on the concept of Zero-Knowledge Proof (ZKP). In a negotiation in this environment, no party has access to personal data or anything that makes it possible to identify who is on the other side. The only information is the amount transacted.
It is as if, in an exchange of money between two people, only the envelope with the amounts was public, while the parties do not know each other. The blockchain records the transaction immutably, without identifying who sent and received the amounts.
This is one of the most effective privacy and security solutions for blockchain trading. To ensure that everything is compliant on Web3, zero-knowledge proof must be verifiable (validated), confidential and solid (which cannot be corrupted).
Cross-chain zkBridge
Another well-known feature of the network is that it is cross-chain. It's like a bridge, which connects several chains, for the most varied negotiations to be carried out, without leaving one network to enter another.
The solution to problems such as security protocols was zkBridge. Basically, it takes zero-proof knowledge from individual transactions to cross-chain transactions. As a result, little data is needed for validation and the scalability of negotiations increases, without losing security.
This cross-chain exchange takes place through the zkSnark protocol, with little data, without the two parties (or chains) needing to interact. In the end, negotiations are recorded in both chains, only with validations that they occurred.
Zero knowledge technologies
Polyhedra Network has developed several technologies with the zero knowledge concept. One of them is Virgo, a distributed proof system. It's as if he delegated the work of checking operations on the chain. This considerably increases the speed of trading while reducing gas fees.
Another is Pianist, which brings together several computers to increase the processing capacity of negotiations. This also contributes to the scalability of trading in a DeFi environment. After all, the increase in traffic on chains requires technologies that support more simultaneous users.
The zkDID solution brings together Web3 and Web2. This Polyhedra Network technology uses soulbound tokens (SBTs) linked to the user, but always hiding them, leaving only the necessary ones public on the chain.
Tokenomics
The ZK token is used to pay fees for cross-chain transactions. In addition, it stakes and grants participation in the chain's governance, when holders have the power to vote in meetings for improvements and enhancements to the platform.
The maximum supply is 1 billion tokens, distributed as follows: 15% to the community through airdrops, 32% to the ecosystem, 15% to reserves, 28% to purchase, and 10% to top contributors.
Learn more about cryptocurrencies
Polyhedra Network offers a security and privacy solution that has great potential for success in the crypto world. To invest in the native ZKJ token and other cryptocurrencies, visit the NovaDAX website. Sign up and diversify your portfolio!
