Zama Confidential Blockchain Raises $57M
Zama, a privacy-focused blockchain project, raised $57 million in a Series B round with a valuation exceeding $1 billion. This funding round, led by Pantera Capital and Blockchange, coincides with the announcement of Zama’s testnet launch on July 1. Co-founder Rand Hindi highlights Zama's innovative Fully Homomorphic Encryption (FHE) technology, which allows developers to create 'confidential smart contracts.' Zama acts as a confidentiality layer across existing blockchains, providing end-to-end encryption and programmable privacy. The technology utilizes multi-party computation and zero-knowledge proofs for enhanced privacy. Currently, Zama supports 20 transactions per second but aims to increase this significantly by using dedicated hardware. Initially focused on the Ethereum ecosystem, Zama plans to expand to other platforms like Solana and is designed to be quantum-resistant.
FAQ
❓ What is unique about Zama's Blockchain Protocol?
Zama uses Fully Homomorphic Encryption to offer confidential smart contracts and end-to-end encrypted transactions.
❓ Who led the funding round for Zama?
The funding round was led by Pantera Capital and Blockchange.
❓ What is FHE in the context of Zama?
FHE, or Fully Homomorphic Encryption, enables operations on encrypted data without decryption, enhancing security and privacy.