Today, we are excited to announce our investment in Fhenix, the first blockchain with Fully Homomorphic Encryption (FHE).
(This is a participation in a $7.5M funding round with Multicoin Capital as the lead investor.)
Encryption of data on public blockchains has been one of the biggest challenges in blockchains. Many data, such as funds transfers, personal data, should not be made public on a blockchain. Encryption of sensitive data is essential for mass adoption of Web3.
Fhenix makes sensitive data securely available on the public blockchain and provides developers with tools to compute that data for the first time. They feature fhEVM, a set of extensions for the Ethereum Virtual Machine (EVM). It allows developers to seamlessly integrate FHE into their workflow and create cryptographic smart contracts in Solidity without cryptographic expertise.
(The fhEVM protocol was developed by Zama, an open-source FHE solution provider.)
Two “Guy”s founded Fhenix.
Guy Zyskind is one of the best leading experts in the Crypto space who has been working on on-chain confidentiality for a long period. He founded Enigma and was one of the first to try on-chain crypto using MPC technology. He later founded Secret Network, which provides on-chain encryption using Intel's SGX Trusted Execution Environment (TEE).
Another Guy is Guy Itzhaki, former Director of Intel's FHE & Blockchain division. He has decades of experience in cybersecurity and secrecy.
In addition to these two, Zama, a proven FHE developer, and an FHE expert, joined Fhenix.
We believe they are the best team to solve on-chain confidentiality issues.
We are very excited to support Fhenix as they take on the challenge of solving a problem critical to the entire ecosystem.
Fhenix launched a private devnet in July 2023; if you are a developer interested in the devnet and would like early access, please click here.
Fhenix
- Sep 26, 2023
- Investments