6 days ago
Zama, a cryptography institution pioneering afloat homomorphic encryption (FHE) for blockchains, said it raised $57 cardinal successful a bid B circular co-led by Blockchange Ventures and Pantera Capital.
The squad said the fundraise pushes Zama’s full superior raised to implicit $150 cardinal and values it astatine implicit $1 billion, making the steadfast the archetypal unicorn progressive with FHE.
Fully homomorphic encryption is simply a mode of keeping information backstage adjacent portion it's being used, making it particularly invaluable for delicate applications successful blockchain and AI. The funding, which comes arsenic Zama's nationalist testnet opens for use, volition spell toward the mainnet introduction, increasing its ecosystem adoption, and probe efforts.
The Zama protocol allows developers to physique encrypted decentralized applications (dapps) without needing heavy cryptographic expertise. Use cases tin scope from confidential stablecoin issuance and plus tokenization to backstage individuality verification and governance successful web states, according to a connection shared with CoinDesk. It besides has uses extracurricular the blockchain environment, specified arsenic wellness attraction and defense, wherever unafraid computation connected encrypted information is progressively crucial.
“Zama is commercializing an wholly caller generational exertion that could redefine however confidentiality is handled successful the blockchain and, ultimately, successful each of unreality computing,” Ken Seiff, co-managing spouse of Blockchange Ventures, said successful the statement.
“This is our 3rd and largest concern successful Zama. Not since I archetypal saw Ethereum successful 2014, person I seen a institution commercializing an wholly caller exertion that could beryllium arsenic foundational to our planetary exertion infrastructure.”
Zama's series A round, successful which it raised $73 million, was led by Multicoin Capital and Protocol Labs.
Read more: Cryptography Firm Zama Raises $73M for 'Fully Homomorphic Encryption' Apps
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