Fhenix Raises $15 Million to Advance Confidentiality in Blockchain

, a layer-2 blockchain developer, has raised $15 million in a funding round led by Hack VC. The company intends to further develop its homomorphic encryption for confidentiality solutions.Fully homomorphic encryption is the process of converting data ciphertext. It allows you to work with encrypted data without first having to decrypt it. Developers can use smart contracts to encrypt parts of their Solidity-based applications.

FHE is the most elegant solution to the problem of encryption because, unlike existing confidentiality solutions based on zero knowledge technology, it allows for end-to-end computation of encrypted data.”a technical partnership with EigenLayer around the development of FHE Coprocessors. These coprocessors are designed to delegate computational tasks that require handling sensitive data, away from a host chain.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum Layer 2 Fhenix, focused on confidentiality, raises $15 million in Series A fundingFhenix, an Ethereum Layer 2 network developer focused on confidentiality, has raised $15 million and launched its testnet.
Source: TheBlock__ - 🏆 464. / 53 Read more »