Second Live has announced a strategic partnership with Polyhedra Network. The objective of the partnership is to boost Web3 by implementing a robust infrastructure. Polyhedra Network brings to the table a lot of experience along with zk-proof protocols, that is, zero-knowledge protocols.
The offering is extremely crucial as it provides cross-chain infrastructure that is not just efficient but also trustless. The deployment will be specifically for layer-1 and layer-2 interoperability. More details are awaited to be made public by Second Live.
The development follows Polyhedra Network raising $10 million in February this year. The funding round was co-led by Polychain Capital and Binance Labs. Making this moment interesting is the fact that the Polyhedra Network once again raised funds worth $15 million. The funding round was led by Polychain, the same venture that led the previous funding round along with Binance Labs.
Irrespective of the kind of development that Polyhedra Network has made, all of them have had the same goal, boost Web3 through zk-proof. zkBridge facilitates cross-chain assets and the transfer of data so that operations like interoperability and scalability can stand strong on the foundation. Also to mention, a lot of emphasis is on privacy to make sure that more users come on board without worrying about their pieces of information – majorly personal that must be kept secured by all the networks.
zkBridge is backed by the understanding of its Co-Founder, James Zhang, who explains that it utilizes the capabilities of proof constructions to check the validity of consensus among different blockchains. James has further stated that combining both of them offers strong security without the involvement of an assumption from outside the ecosystem. It also brings down on-chain verification costs.
The mechanism is backed by Sparkle Ventures, ABCDE, and Kucoin Ventures, to mention a few. It has been in the testnet phase for the last 6+ months. If reports are to be believed, then the community can soon expect to have the alpha launch.
The reason all this is important is because Second Live and Polyhedra Network entering into a strategic partnership opens all such opportunities for Second Live. It is unclear if the ventures backing the mechanism will, in one or another, extend a direct intent to partner with Second Live. It is a sure-shot chance that Second Live will have all the capabilities available for its ecosystem following the conclusion of the strategic partnership agreement.
Moving forward, Polyhedra Network plans to integrate zkBridge into more blockchain networks and launch API – Application Programming Interfaces. Another launch that is being planned is SDK, which is Software Development Kit.
As for the crypto market, BTC and ETH have jumped higher in the last 24 hours. BTC is at $29,484.10, and ETH is at $1,879.99. Both tokens are aiming to cross the much-expected mark of $30k and $2k, respectively, before the current year ends.