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Home»TRADING NEWS»Zama raises $73 million for fully homomorphic encryption technology
TRADING NEWS

Zama raises $73 million for fully homomorphic encryption technology

By Crypto FlexsMarch 7, 20242 Mins Read
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Zama raises  million for fully homomorphic encryption technology
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outline

French cryptocurrency startup Zama has secured $73 million in a Series A funding round led by Multicoin Capital and Protocol Labs. This funding will support Zama’s mission to enable computation on encrypted data without decryption and enhance data privacy on the Internet.

Fully homomorphic encryption (FHE)

  • innovative technology: Zama’s FHE technology allows data to be processed and calculated in an encrypted state, ensuring privacy and security.
  • Data Privacy Revolution: FHE aims to make data privacy a standard feature of the Internet, allowing operations like cloud computing to be performed on encrypted data.

Use cases and clients

  • important customer: Zama has onboarded notable clients, including Shiba Inu, which leverages Zama’s technology to enhance on-chain privacy.
  • Advancing privacy infrastructure: SHIB has adopted Zama’s FHE-enabled privacy infrastructure to improve privacy while maintaining the integrity of network state.

future prospects

  • Strengthening developer capabilities: Zama aims to make FHE more accessible and efficient for developers, allowing businesses to leverage cloud computing and other technologies without compromising privacy.
  • User-friendly solution: Zama is developing user-friendly tools and platforms that simplify the adoption of advanced encryption methods by integrating FHE into digital services.

Zama’s Breakthrough

  • Balancing transparency and privacy: Zama’s solution provides a groundbreaking way to balance on-chain transparency and off-chain privacy, allowing confidential smart contracts on encrypted data.

conclusion

Zama’s successful funding round highlights the growing demand for advanced encryption solutions for data privacy. With its innovative FHE technology, Zama is poised to revolutionize the way data is processed and protected on the Internet.

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