GettyImages 1192177960 New cryptographic technique could revolutionize web3 privacy

New cryptographic technique could revolutionize web3 privacy

-Privacy is a core concern in crypto, and the solution to this issue may lie in zero-knowledge proofs (ZKPs).
-ZKPs are a technique that allows for a transaction to be verified on a blockchain without the underlying data being shared.
-Fully homomorphic encryption (FHE) is even more promising in its potential to bolster privacy in web3.
-FHE allows for individuals to perform computations on encrypted data without needing to decrypt it.
-Sunscreen is a startup that aims to boost the development of FHE technology.
-Sunscreen just raised $4.65 million in a seed round led by Polychain Capital with participation from Northzone, Coinbase Ventures, dao5 and Naval Ravikant.
-In order for the tech to be useful in the privacy realm, Solomon thinks a new layer-one blockchain is needed.

 

 

GettyImages 1192177960 New cryptographic technique could revolutionize web3 privacy
New cryptographic technique could revolutionize web3 privacy 3

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