Fun

Cryptography startup Zama raises $73M to protect data privacy

News Feed - 2024-03-07 08:03:00

Helen Partz12 hours agoCryptography startup Zama raises $73M to protect data privacyMulticoin Capital and Protocol Labs led a $73 million raise for a new cryptography startup which aims to make the “entire internet encrypted end-to-end.”2191 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksFrench cryptography startup Zama is moving forward with ambitious plans to enable computation on encrypted data without decryption by securing $73 million in a Series A funding round.


Led by major industry investors Multicoin Capital and Protocol Labs, the raise aims to promote the use of Zama’s Fully Homomorphic Encryption (FHE) technology, CEO Rand Hindi announced on March 7.


Described by Hindi as the “holy grail of cryptography,” Zama’s FHE aims to make data privacy a standard feature on the internet while still enabling information processing in operations like cloud computing.


“Imagine you have a secret message that you want to keep hidden, but you also need someone else to do some math with it without ever seeing the actual message,” Zama’s chief technology officer Pascal Paillier told Cointelegraph.


FHE is like a “magical box” where you can put your secret message, Paillier noted, adding that users are able to lock the box once the message is inside. He stated:“The magic part is that someone else can still do the math on the locked box, without ever opening it or seeing your secret. When they"re done, you can unlock the box and see the result of the math, with your message still safe and secret inside.”A visualization of Zama"s FHE technology. Source: Zama


According to Paillier, Zama has already onboarded several significant clients since its foundation in 2020, including Shiba Inu, which is using Zama’s tech to “construct an entire network state.” SHIB adopted a new FHE-enabled privacy infrastructure in late February 2024, aiming to improve on-chain privacy.


Related:Sam Altman’s Worldcoin ordered to stop collecting data in Spain


“By making FHE more accessible and efficient for developers to use, Zama wants to eventually empower businesses to leverage cloud computing and other technologies without compromising on privacy,” Paillier said. This approach involves creating user-friendly tools, libraries, or platforms that integrate FHE into everyday digital services, making it easier for firms to adopt this advanced encryption without needing specialized knowledge, he added.


Zama CTO also emphasized that the company’s solution has made a breakthrough in terms of a tradeoff between on-chain transparency and off-chain privacy.


Developers can deploy the “best of both worlds,” or execute confidential smart contracts on encrypted data without sacrificing either confidentiality or composability, Paillier noted.


Magazine:Real-life Doge at 18: Meme that’s going to the moon# Blockchain# Business# Smart Contracts# Privacy# Internet# EncryptionAdd reactionAdd reaction

News Feed

Mt Gox Creditors Asked to Approve a Settlement Proposal Drafted by Coinlab
Mt Gox Creditors Asked to Approve a Settlement Proposal Drafted by Coinlab On January 15, the public was made aware of a deal between the firm Coinlab Inc., the
Venture Capitalist Bill Gurley Prefers Ethereum to Bitcoin, Takes Personal Position in ETH
Venture Capitalist Bill Gurley Prefers Ethereum to Bitcoin, Takes Personal Position in ETH Venture capitalist Bill Gurley has taken a personal position in ether because he “
DEX adoption needs greater capital efficiency — PancakeSwap product lead
Zoltan Vardai13 hours agoDEX adoption needs greater capital efficiency — PancakeSwap product leadThe lack of options trading liquidity is one of the most pressing issues of current DeFi protocols.913 Total views16 Tota
Helen Partz50 minutes agoNational Australia Bank joins crypto exchange boycott, cites ‘scams’National Australia Bank is the latest bank to announce blocks on certain cryptocurrency exchanges, citing the high risk of
US Court of Appeals reboots HEX manipulation case against Binance.US
Tom Mitchelhill2 hours agoUS Court of Appeals reboots HEX manipulation case against Binance.USA panel of three judges has partially reversed a class-action lawsuit that alleged Binance.US and CoinMarketCap manipulated th
US Senate Majority Leader to speak at crypto event for Kamala Harris
Turner Wright5 hours agoUS Senate Majority Leader to speak at crypto event for Kamala HarrisSenator Chuck Schumer and 10 Democratic senators sided with Republicans to pass a resolution overturning an SEC rule on banks ho
Arijit Sarkar26 minutes agoCrypto influencer arrested in Hong Kong for JPEX associationHong Kong police reportedly arrested crypto influencer Joseph Lam (Lin Zuo), who goes by the username ‘jolamchok’ on Instagram, f
Will Bitcoin Drop Even Lower? Here’s What Experts Predict
Este artículo también está disponible en español. Bitcoin is experiencing a severe downturn over the past few days. After trading above $96,000 on Monday, its price slipp
Pro Football Star Receives Half of His $13 Million Salary in Bitcoin
Pro Football Star Receives Half of His $13 Million Salary in Bitcoin Carolina Panthers offensive lineman Russell Okung said he has been paid in bitcoin after ask
Dogecoin Must Hold This Support Or Risk Crashing To $0.015, Analyst Warns
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
XRP Price Shoots For 20% Surge To $2.51 Amid Pullback To Breakout Zone
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Turner Wright4 hours agoAppellate judge denies Sam Bankman-Fried’s request for immediate release from jailThe motion from Sam Bankman-Fried’s lawyers will now go to a three-judge panel, with less than four weeks befo