In the ever-evolving blockchain world, the issues of interoperability and scalability remain major challenges. Polyhedra Network (ZKJ) presented as a project that tries to offer innovative solutions.
This article will discuss Polyhedra Network (ZKJ) in detail, including its definition, the technology used, tokenomics, and the current price of ZKJ.
What is Polyhedra Network (ZKJ)?
Polyhedra Network (ZKJ) is a blockchain project focused on improving computing power and interoperability between blockchain networks.
Its main goal is to bridge the gap between Web2 and Web3 applications so that they can connect to each other securely, efficiently, and without the need for trust in third parties.
The core of this project is zkBridge, a cross-chain solution that enables trustless transactions and data exchange between blockchains. This technology also serves as a testbed for Polyhedra's zero-knowledge proof system, called Gemini.
Beyond blockchain, the project is also developing the ZK interoperability protocol that can connect Web2 and Web3. With this approach, Polyhedra opens up significant opportunities to bring Real World Assets (RWA) into the Web3 ecosystem.
The Technology Behind Polyhedra Network (ZKJ)
Polyhedra Network (ZKJ) is known as one of the projects that is seriously developing zero-knowledge proof technology.
Here are some of the key technologies that form the foundation of this project:
1. zkBridge: Blockchain Interoperability Solution
zkBridge is the Polyhedra Network's core protocol, enabling multiple blockchains to communicate with each other without intermediaries. This system allows for more secure transfers of assets, messages, and data between chains.
The advantage of zkBridge is its trustless nature. This means users don't need to trust third parties, as validation is performed through cryptographic proof. Even if one part of the network is compromised, the overall system remains secure.
2. Gemini Zero-Knowledge Proof System
Gemini is Polyhedra Network's zero-knowledge proof system designed to generate proofs more quickly and efficiently. This technology enables transaction verification without revealing sensitive data, thus preserving user privacy.
With the support of advanced algorithms and the use of specialized hardware, Gemini is one of the backbones of Polyhedra in delivering large-scale ZK solutions.
3. Web2 and Web3 Bridge
One of Polyhedra Network's grand visions is to connect the Web2 and Web3 worlds. Through ZK technology, data and assets from traditional systems can be integrated into the blockchain without compromising security and privacy.
This approach opens up many new use cases, from enterprise data integration to onboarding real-world assets into the crypto ecosystem.
ZKJ Token and Its Functions
ZKJ token is a crypto asset used in the Polyhedra Network ecosystem. This token plays a vital role in supporting network operations and incentivizing contributors.
Some of the main functions of the ZKJ token include:
- Support incentive mechanisms in the ecosystem.
- Encourage community and developer participation.
- Be part of network governance and utilities.
With this role, ZKJ is not just a speculative token, but also part of the Polyhedra Network infrastructure.
Tokenomics Polyhedra Network (ZKJ)
The ZKJ token distribution structure is designed to support the long-term growth of the project:
Foundation Reserves: 15%
Community, Airdrop, and Marketing:15%
Ecosystem dan Network Incentives: 32%
Core Contributors: 10%
Token Purchasers (Private Sale): 26%
Token Purchasers (Pre-TGE): 2%
With the status of token unlock as follows:
Tokens already in circulation: 416.4 millions ZKJ (41.64%)
Locked token: 583.64 millions ZKJ (58.36%)
The large number of locked tokens indicates potential future volatility, especially during the unlock period.
ZKJ Price Today
Based on the latest data, ZKJ price today is in the range $0.045-$0.046, with:
All-time high (ATH): $4,01
All-time low (ATL): $0,036
Currently, the price of ZKJ is still around 98.85% below ATH, but already about 27.88% above its lowest price.
This condition indicates that ZKJ is still in a low price phase, with both high upside potential and downside risks.
Read Also: What is Codatta (XNY)? AI & Big Data Token Listing on Bittime
Conclusion
So, what is Polyhedra Network (ZKJ)? In short, Polyhedra Network is a blockchain project focused on interoperability, zero-knowledge proofs, and Web2 to Web3 integration.
With zkBridge technology and the Gemini system, this project offers a real solution to the cross-network problem that has been a challenge in the blockchain world.
Although the current price of ZKJ is still far from its ATH, the strong technological foundation makes Polyhedra Network still interesting to monitor.
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