Polyhedra Network (ZKJ)

Network Fees

Polyhedra Network’s native token, ZKJ, is used to pay for transaction and network fees within the platform.

Staking and Rewards

Users can stake ZKJ tokens to help secure the network and earn rewards in return.

Governance

Token holders use ZKJ to vote on proposals that shape the future development and policies of the Polyhedra Network.

Cross-Chain Interoperability

Polyhedra Network enables secure and efficient communication and asset transfers between different blockchains using zero-knowledge proof technology, improving scalability and privacy.

Web3 and Web2 Integration

The network supports seamless data sharing and message passing between Web3 blockchains and traditional Web2 systems.

Developer Tools and Infrastructure

Polyhedra provides protocols and tools like zkBridge and zkLightClient to build scalable, trustless cross-chain applications and decentralized oracles.

Use in Decentralized Applications

Its technology supports applications such as NFT transfers, stablecoin swaps, and verifiable credentials, expanding blockchain use cases.

For more details, visit Polyhedra Network’s official website.

Advantages

Polyhedra Network offers fast and low-cost transactions, making it efficient for users. It supports cross-chain compatibility, allowing easy interaction with multiple blockchains. The network is designed to be scalable, handling many transactions without slowing down. It also provides strong developer tools, which help create new decentralized apps.

Disadvantages

Polyhedra Network is relatively new, so it may have less adoption compared to older networks. Some users might find the ecosystem smaller, with fewer apps and services available. As with many crypto projects, updates and changes can happen quickly, which might require users to stay informed.

Founders of Polyhedra Network

Polyhedra Network was co-founded by James Zhang, Tiancheng Xie, and Abner Jia. James Zhang serves as CEO, Tiancheng Xie is the CTO, and Abner Jia is also a co-founder involved in the project. They started the company with a focus on zero-knowledge proof technology to improve blockchain interoperability, scalability, and privacy.

Institutional Investors

Polyhedra Network has raised a total of $45 million over 6 funding rounds from 15 institutional investors. Key investors include Polychain Capital, Animoca Brands, Binance Labs, HashKey Capital, KuCoin Ventures, NGC Ventures, OKX Ventures, and UOB.

Funding Highlights

• The latest major funding was a $20 million Series A round in March 2024, which valued Polyhedra Network at $1 billion.
• Polychain Capital led the strategic funding round.
• Other investors include Emirates Consortium and Symbolic Capital among others.

Summary

Polyhedra Network is backed by a strong group of well-known crypto and venture capital firms focused on blockchain infrastructure and Web3 innovation.

Halal Status of Polyhedra Network

• Yes, Polyhedra Network is considered halal.
• This is because it focuses on technology like zero-knowledge proofs and interoperability without involving interest (riba), gambling (maisir), or uncertainty (gharar), which are key concerns in Islamic finance.
• Its use cases and token utilities align with Shariah-compliant principles, similar to other blockchain projects deemed halal.