zkPass has announced its plans to partner with Polyhedra Network. Details of the partnership are unavailable; however, it is clear that the partnership will be strategic in nature. The goal is to boost interoperability between Web2 and Web3 ecosystems. Moreover, Polyhedra Network and zkPass are aiming to revolutionize the way in which verification for private data is done.
The community has responded positively to the development, with most of them saying that this is indeed a great step.
This is not the first time that either of them has looked to make an advancement. For instance, Polyhedra Network earlier this year announced successfully raising $10 million in a funding round that was led by Binance Labs along with Polychain Capital. The funding round for Polyhedra Network was simultaneously supported by dao5 and Animoca.
Specifically speaking, the news regarding the funding round dates back to February 2023. It still holds relevance because Polyhedra Network is only stepping up the way it moves forward.
To dig a little deeper into that development, Luke Pearson from Polychain Capital backed their move of supporting Polyhedra Network by stating that they look to push boundaries on zk infrastructure, posing innovation as the key element in the Web3 sphere. Luke acknowledged that what inspires them to support such projects is the understanding of well-oiled architecture facilitating operations across different chains to connect blockchain ecosystems. Needless to say, all this is to build financial technology that can be utilized by the next generation.
Funds raised by Polyhedra Network at that time are reportedly deployed in undertaking growth initiatives, onboarding engineering talent, and facilitating research for the zk protocol. Products so far developed by Polyhedra Network are zkBridge and zkDID, with both qualifying as the next-generation zkSNARK protocols.
zkPass is not far behind in the matter. The goal of the current partnership with Polyhedra Network is to verify private data. This aligns with what zkPass has been up to in recent days. As a matter of fact, the key features of zkPass are to preserve privacy, enhance compatibility, guarantee verifiability, and boost data diversity.
One of the most recent accomplishments by zkPass is winning the Build The Block contest organized by Binance Labs. Thanking the community for voting in their favor, zkPass said that they were excited about receiving the incubation opportunity and investment offer. The investment won from Binance Labs by zkPass will be directed to enable them to scale the business and their operations to the next level.
The grand finale of Build the Block was hosted on June 02, 2023, with a total of 12 promising projects attempting to make it big. The competition was head-to-head so were the votes. It was finally zkPass who were crowned champions of Build the Block.
Some viewers called it a cool event, while others said that they were excited to see the next edition of the event.
zkPass and Polyhedra Network joining hands is a great step, showcasing their commitment to the community for interoperability and verification of private data.
Source: https://www.cryptonewsz.com/zkpass-announces-partnership-with-polyhedra-network/