Zama SAS, a pioneering open-source cryptography startup, has successfully closed a $73 million round of funding for its cutting-edge fully homomorphic encryption (FHE) technology. The Series A round, which was led by Multicoin Capital and Protocol Labs, featured participation from Metaplane, Blockchange Ventures, VSquared, Stake Capital, and renowned blockchain innovators such as Juan Benet, Anatoly Yakovenko, and Gavin Wood.
FHE technology is an innovative encryption technique that allows computations to be performed on encrypted data. With the increasing need for robust data protection without compromising data utility, Zama’s FHE technology aims to address this demand. While companies already encrypt data during storage and transfer to prevent unauthorized access, encrypted data needs to be unscrambled before applications can perform computations. This creates a vulnerability where hackers can gain access to sensitive data. FHE technology eliminates this weak spot by enabling applications to utilize encrypted data directly.
Zama is committed to making FHE technology accessible to developers through a suite of open-source cryptographic libraries and tools. By doing so, they hope to facilitate the development of a new generation of privacy-preserving applications. The startup is primarily focused on implementing FHE in the blockchain and artificial intelligence industries. One of their recent offerings, fhEVM, is a groundbreaking confidential smart contract protocol designed for Ethereum Virtual Machine-compatible blockchains. This protocol allows on-chain state and transaction data to be processed while remaining encrypted, presenting a significant advancement in data security within the blockchain sector.
Zama’s CEO, Rand Hindi, envisions a future where data privacy is guaranteed by design. With the recent funding, Zama plans to expand its team of cryptography experts and continue advancing FHE technology. The support and experience provided by investors such as Multicoin and Protocol Labs will be instrumental in bringing FHE to the blockchain market.
While Zama is not the sole participant in the FHE technology space, competition exists from industry giants like Intel and IBM, as well as startups such as Vaultree and Cornami. These players are also exploring the cryptographic benefits of FHE technology and developing their own solutions.
With the new funding, Zama aims to recruit talented engineers, software developers, and cryptography researchers. Their goal is to maintain their open-source libraries and develop a new class of FHE applications. Through their innovative approach to data privacy, Zama is poised to revolutionize the way organizations protect sensitive data in the digital age.
An FAQ section based on the main topics and information presented in the article:
1. What is Zama SAS?
Zama SAS is an open-source cryptography startup focused on developing fully homomorphic encryption (FHE) technology.
2. What is fully homomorphic encryption (FHE) technology?
FHE technology is an innovative encryption technique that allows computations to be performed on encrypted data directly, eliminating the need to unscramble the data before performing computations.
3. Why is FHE technology important?
FHE technology addresses the increasing need for robust data protection without compromising data utility. It enables applications to utilize encrypted data directly, preventing unauthorized access to sensitive data.
4. What industries is Zama primarily focused on?
Zama is primarily focused on implementing FHE technology in the blockchain and artificial intelligence industries.
5. What is fhEVM?
fhEVM is a confidential smart contract protocol designed for Ethereum Virtual Machine-compatible blockchains. It allows on-chain state and transaction data to be processed while remaining encrypted, enhancing data security in the blockchain sector.
6. Who are some of the investors in Zama’s recent funding round?
Zama’s recent funding round was led by Multicoin Capital and Protocol Labs. Other investors included Metaplane, Blockchange Ventures, VSquared, Stake Capital, and renowned blockchain innovators like Juan Benet, Anatoly Yakovenko, and Gavin Wood.
7. Who are Zama’s competitors in the FHE technology space?
Zama faces competition from industry giants like Intel and IBM, as well as startups such as Vaultree and Cornami, who are also exploring FHE technology and developing their own solutions.
8. What are Zama’s plans for the future?
With the recent funding, Zama plans to expand its team of cryptography experts, advance FHE technology, recruit talented engineers and software developers, and develop a new class of FHE applications.
Definitions for key terms and jargon:
– Fully Homomorphic Encryption (FHE): An encryption technique that allows computations to be performed on encrypted data directly.
– Blockchain: A decentralized and distributed digital ledger used to record transactions across multiple computers.
– Confidential Smart Contract Protocol: A protocol that allows for the execution of smart contracts while keeping the underlying state and transaction data encrypted.
– Ethereum Virtual Machine (EVM): A runtime environment for executing smart contracts in the Ethereum blockchain.
Suggested related links:
– Multicoin Capital
– Protocol Labs
The source of the article is from the blog lokale-komercyjne.pl