By
Chainwire
May 27th, 2024
The launch of ECC by Polyhedra Network will significantly complement the Expander ZK Proof ecosystem.
Polyhedra Network (ZK), a fast-growing web3 project focused on unlocking the exponential improvements to computational power and cross-platform interoperability via Zero-Knowledge (ZK) systems, has announced the launch of a new tool to complete its ecosystem. Earlier on Friday, Polyhedra Network announced the launch of the open-source Expander Compiler Collection (ECC).
According to the announcement, the ECC allows users to seamlessly transform gnark circuits into efficient layered formats, thus enabling web3 developers to build secure interoperable applications.
“Tailored for GKR protocols, ECC ensures fast and effective proof generation by natively translating your code to layered circuits,” the Polyhedra Network team noted.
The Polyhedra Network team highlighted that the ECC tool was made possible by the Consensys gnark project. Furthermore, the Ethereum ecosystem is the leading DeFi ecosystem, with more than $64 billion in total value locked (TVL), which is easily interoperable with other chains.
🎉 ECC’s compatibility with existing circuit language is a pivotal leap forward. Join us at Expander as we propel cryptographic proofs into the future. Be part of this groundbreaking journey—join the ZK innovation with Polyhedra Network (ZKJ)!
— Polyhedra Network (@PolyhedraZK) May 31, 2024
Market Impact on Polyhedra Network
According to the latest crypto data provided by Coinmarketcap, Polyhedra Network (ZK) had a market cap of about $72 million and an average 24-hour trading volume of around $28 million. The small-cap altcoin takes pride in more than 254k holders according to on-chain data, with the top ten addresses holding controlling more than 92 percent of the ZK’s total supply.
The launch of the Expander Compiler Collection will play a crucial role in the mass adoption of the ZK token, and other products by Polyhedra Network. Some of the notable projects by Polyhedra Network include the Proof Cloud, zkBridge service, and Gaming, among others.
Earlier this month, the Polyhedra Network announced the launch of the open-source zero-knowledge proof (ZKP) dubbed Expander.
Notably, the Expander project is compatible with Apple M3 max machine among others as it can prove 4,500 Keccak-f performance per second.
“The performance of Expander opens the possibility for the creation of many ZK applications that are compatible with Ethereum,” the Polyhedra team noted.
Bigger Picture
The development of multichain infrastructure has significantly eased the mass adoption of web3 projects and digital assets. As Coinspeaker previously noted, Polyhedra Network is well poised to scale the multichain infrastructure development after it secured $20 million at a valuation of $1 billion.
Notably, Polyhedra Network is backed by reputable web3 investors such as Binance Labs, Animoca Brands, Polychain Capital, Mapleblock Capital, Emirates Consortium, UoB Ventures, OKX Ventures, and Hashkey Capital among others.
As a result, Polyhedra Network supports more than 25 blockchains and partnered with over 80 ecosystem partners. According to the company’s official website, Polyhedra’s zkBridge has securely facilitated more than 20 million messages.