HashKey Capital Insights shared a comprehensive article explaining both the challenges and paradigm-shifting potential of Fully Homomorphic Encryption (#FHE). We were happy to contribute to this article alongside other prominent Web3 FHE projects.
We're going to break it down for you and give you the takeaways.
1⃣ The big takeaway: FHE is the Holy Grail of Cryptography for a reason. It is changing the way we secure data across platforms, painting an almost unbelievable new era for data privacy.
2⃣ The primary limitations of FHE DevEx: 1) Easy front-end language 2) A fully functional FHE compiler 3) FHE schemes are too slow
3⃣ New solutions to these limitations: 1) Web3-specific FHE compilers offer the best performance without hardware accelerators 2) New FHE libraries that leverage the popular Web3 programming languages 3) Zama's toolkit exposes homomorphic operations as precompiled contracts
4⃣ ZKPs & FHE - a match made in privacy heaven. FHE allows anyone to perform computation on encrypted data. ZKPs allow one to prove something is true without revealing the underlying information itself. This is how they work together: 1) Making sure the ciphertext meets the requirements of the encryption scheme 2) Submitting a proof that an input plaintext satisfies a given application's conditions 3) The validator node needs to prove they've correctly executed the FHE computation
5⃣ ZKPs of ciphertext. ZKPs like SNARKS and STARKS do not rely on lattice cryptography; FHE does. This means that FHE is 'post-quantum'. In other words, ZKPs alone are not resistant to quantum computing attacks, but FHE is.
6⃣ The hardware problem. FHE on existing hardware is inefficient and not scalable in a decentralized way. Verifiable FHE solves this by allowing the computing party to submit a ZKP for proof of honest execution of transactions.
Fully Homomorphic Encryption (FHE) is a game-changer in data security, enabling computations on encrypted data without revealing its content. A critical tool for privacy in the digital age.
At the core of #FHE is the ability to perform arithmetic operations on encrypted numbers and get an encrypted result, which, when decrypted, matches the result of operations as if they were done on plain data.
The implications of #FHE are vast-secure voting systems, confidential medical records analysis, private financial transactions, and more. Anywhere data privacy is paramount, FHE can be the solution.
Big shoutout to our incredible 46K Minders for the support during the #ZeroTrustBridge campaign with BNB Chain! It has been a fruitful week for #MindNetwork. Check out the poster below for more details.
#Mind101: How does #ZeroTrustBridge (ZTB) address the compliance issue?
The enhanced security and privacy of ZTB allows entities to achieve regulatory compliance. Here are two ways in which ZTB helps TradFi:
1. ZTB is used to encrypt and process KYC/AML data, ensuring constant protection even during processing. This meets regulations requiring banks to safeguard customer data.
2. ZTB is used to protect sender/receiver information so that information regarding the trade is not easily traceable but can still be verified by regulators/authorities. #MindNetwork
#Mind101: What can #ZeroTrustBridge (ZTB) do? Zero Trust Bridge connects diverse blockchain networks, creating countless opportunities:
- Bank Chain to Public Chain: Merge finance & blockchain securely. - CBDC Chain to Public Chain: Safely integrate central bank digital currencies. - Public Chain to Public Chain: Enable smooth, confidential cross-chain asset flow.
Mind Network's "Zero Trust Special" incentivized campaign is now available on @Galxe! By completing #MindNetwork simple tasks during the product development phase, you'll gain a thorough understanding of the #ZeroTrust Bridge and earn loyalty points.#Web3 #Binancelabs
Introducing Zero Trust Bridge: Reinventing Security in Web3
In a digital world marked by constant innovation, maintaining the security of user data has never been more crucial. Furthermore, users will require significantly heightened confidence in the safety of their funds when engaging in on-chain/cross-chain financial activities network. In response to this industry need, Mind Network is proud to announce its latest groundbreaking solution — the Zero Trust Bridge. This remarkable product is set to transform the landscape of web3, bridging the gap between traditional finance, central bank digital currencies (CBDCs), and public blockchains with an unprecedented focus on security. Background: Existing Problems with Cross-Chain Bridges and TradFi Entering Web3 The world of cryptocurrency and blockchain technology has seen incredible growth over the past decade. However, this rapid expansion has brought with it a host of challenges, particularly in the realm of cross-chain bridges. Traditional bridges often lack the robust security measures required to protect user data, making them vulnerable to malicious actors. As the digital ecosystem continues to evolve, the need for reliable cross-chain protection becomes increasingly evident. From TradFi’s perspective, their clients want access to digital assets, but current security standards are not sufficient. Mind Network is helping to craft the next generation of security standards and practices for the internet and digital assets. What is Zero Trust Bridge? Zero Trust Bridge (ZTB) is a cutting-edge solution designed by Mind Network that seamlessly combines the power of the Zero Trust Framework with cross-chain bridges. This innovative approach addresses the pressing need for enhanced security and privacy in web3, creating a safer environment for users, institutions, and developers alike. ZTB is built on the principles of ‘never trust, always verify’ data and upon the technology of fully homomorphic encryption and zero knowledge proofs. What Can ZTB Do? Zero Trust Bridge unlocks a world of possibilities when it comes to cross-chain interoperability, offering enhanced security in a range of scenarios: Bank Chain to Public Chain: Securely bridge traditional finance systems to public blockchains, fostering seamless transactions while safeguarding sensitive financial data.CBDC Chain to Public Chain: Facilitate the integration of central bank digital currencies into the world of public blockchains, ensuring the privacy and security of digital assets.Public Chain to Public Chain: Foster secure cross-chain interactions between different public blockchains, expanding the horizons of decentralized finance (DeFi) and enabling the free flow of digital assets. What’s the Vision of ZTB? At Mind Network, our vision for Zero Trust Bridge is ambitious yet attainable — to bring trillions of dollars into the realm of web3. With security at its core, ZTB has the potential to unlock unprecedented opportunities for individuals, institutions, and governments worldwide. How Does Zero Trust Bridge Work? Zero Trust Bridge achieves its mission through three essential components: Zero Trust Data, Zero Trust Transaction, Zero Trust Asset Zero Trust Data: Protecting sensitive user data, KYC information, messages, logs, risk profiles, and more, ensuring that privacy is maintained at every level.Zero Trust Transaction: Employing cutting-edge Fully Homomorphic Encryption-Dual-Key Stealth Address Protocol (FHE-DKSAP) to secure transactions on-chain and cross-chain, building an impervious barrier against unauthorized access.Zero Trust Asset: Safeguarding on-chain assets by preserving the integrity of tokens and transaction records, ensuring that assets remain secure and untampered with. Adding additional and mandatory security against smart contract breaches. How Does ZTB Address the Compliance Issue? Zero Trust Bridge is not only about security but also compliance. Through the use of Zero-Knowledge Proofs (ZK-Proofs), ZTB provides transparent and verifiable evidence of transactions, records, and data owned only by the user, allowing the user to generate proofs for regulatory requirements so that all interactions adhere to regulatory requirements. Bridging Web2 to Web3 In the ever-evolving landscape of web3, the introduction of Zero Trust Bridge is a genuine game-changer. Mind Network’s commitment to combining cutting-edge technology with a deep understanding of security and privacy issues has resulted in a product that stands as a beacon of innovation in the world of blockchain and cryptocurrency. With ZTB, we are ushering in a new era of trust and security, one where individuals, institutions, and governments can confidently participate in the digital economy of the future. About Mind Network Mind Network is a Zero Trust layer aiming to bring the next billion users and trillion dollars to Web3. Mind Network offers a security and data privacy solution that achieves true CrossFi scale, complying with regulatory requirements while staying true to Web3 principles of asset tokenization and individual data ownership.
Mind Network and BNB Greenfield Partner to Bring Fully Homomorphic Encryption to Web3
Today, let's dive into the innovative world of Mind Network, a platform that's redefining data security and privacy on Web3. Built on a foundation of Zero Trust Security principles, including Zero Knowledge Proof (ZKP) and Adaptive Fully Homomorphic Encryption (AFHE), Mind Network is taking data protection to new heights. Let's explore how Mind Network, in collaboration with BNB Greenfield, is pioneering the future of data security in the Web3 ecosystem. Mind Network: A Zero Trust Privacy Layer At its core, Mind Network serves as a Zero Trust Privacy Layer, offering robust security for your data, smart contracts, and AI within the Web3 environment. To fulfill the promise of Web3 in creating an internet that works for everyone, robust data privacy, quantum resistance, and dynamic data monetization capabilities must be woven into the infrastructure. Mind Network is among the pioneers bringing Adaptive Fully Homomorphic Encryption (AFHE) to Web3, pushing the boundaries of what's possible in data security and privacy. Mind Network’s integration of Greenfield Mind Network is applying its Zero Trust framework and cutting-edge Fully Homomorphic Encryption (FHE) techniques to BNB Greenfield's web3 storage solution. This integration enhances BNB Greenfield's storage services, making them more secure, private, and dynamic. This partnership holds several advantages: Increased Security: FHE protects sensitive data from unauthorized access.Improved Privacy: FHE ensures user data remains private, even when stored on the blockchain.Increased Scalability: FHE enhances the efficiency of Web3 applications, enabling more efficient data processing. Mind Network’s integration of BNB Greenfield represents a significant step forward in creating highly secure Web3 applications. This integration empowers developers to create applications that handle, collaborate, and trade private data with utmost confidence in its security and privacy. Mind Network's Full Zero Trust Solution Web3, with its promise of decentralization and empowerment, also brings forth several security challenges. Some known security challenges in Web3 include data privacy and ownership, on-Chain data protection, and decentralized storage risks where data replication across untrusted nodes in decentralized storage systems poses confidentiality challenges. Additionally, there are also challenges in trust and reliability, compliance with regulation, data federation and also AI security where there is a need to safeguard AI solutions against unauthorized manipulation of input data and parameters is critical. Mind Network attempts to resolve these challenges through the formalization of its Full Zero Trust Solution into two parts: Zero Trust I/O and Zero Trust Computation. These components ensure data privacy and security across the entire decentralized infrastructure. Zero Trust I/O: This component focuses on protecting data input and output, ensuring that sensitive information remains confidential throughout its lifecycle. Zero Trust Computation: It addresses the secure processing of data on the decentralized infrastructure, protecting data during computation. Furthermore, Mind Network has introduced a patented Adaptive Fully Homomorphic Encryption (AFHE) technique, a key component of their Full Zero Trust Solution. AFHE accelerates encryption processes through algorithmic and engineering innovations, enabling end-to-end encryption for user data. Even if service nodes are compromised, user privacy remains secure because the decryption key is securely stored within the data owner's wallet. Conclusion In a world where data is increasingly valuable and vulnerable, Mind Network and BNB Greenfield are leading the charge to ensure that data privacy and security remain at the forefront of Web3 development.About Mind Network Mind Network is a Zero Trust layer aiming to bring the next billion users and trillion dollars to Web3. Mind Network offers a security and data privacy solution that achieves true CrossFi scale, complying with regulatory requirements while staying true to Web3 principles of asset tokenization and individual data ownership.
Hi Minders! September kicked off conference season and we were all over the world finding new partners and strengthening our bonds with existing ones! Here is the September recap! Key Highlights Recognition: Mind Network won first place at the Ethereum Singapore Hackathon with its ZK stealth wallet solution!We were a Silver sponsor at Token2049, hosted three events, participated in four others with more than 2000 audiences in total, and connected with many brilliant minds including a face-to-face chat with Vitalik.We attended Permissionless and gave an interview to the MetaMask teamWe were invited to attend and deliver a keynote speech at Messari’s Mainnet conference in NYCAs a strategic partner, Chainlink invited us to attend SmartCon in Barcelona and be a featured partner in their booth!We were tapped to build a new solution with Chainlink! Partnerships: We spent this month developing the many partnerships from August as well as beginning new partnerships with exciting tier one industry partners like Alchemy, Sui, Manta Network, and Arbitrum! Product: In continuing to build out our product portfolio, we are now partnering with Chainlink to design and implement a Zero Trust bridge infrastructure to protect on-chain transactions for financial institutions. More details to come in next month. Events: Permissionless 2 in Austin, TexasToken 2049 in SingaporeMessari Mainnet in New York City, NYSmartCon in Barcelona, Spain We are grateful for the support of our community and partners. We couldn’t have achieved so much without you. Data rights are human rights! About Mind Network The Zero Trust layer for Web3. Mind Network offers enterprise level data privacy and security, combined with zero-knowledge proofs (ZKP) and innovative Adaptive Fully Homomorphic Encryption (AFHE) technology, enabling individuals to have complete protection of their on-chain data, cross-chain interoperability, and artificial intelligence.Project Recognitions: Binance Labs Incubation Program Season 5 (the only data project) Ethereum Foundation Fellowship Program Chainlink BUILD Program Consensys Startup Program Team Composition: Mind Network has assembled a formidable team comprising accomplished leaders in their respective fields. The Chief Executive Officer, Mason, is an Ethereum researcher. The Chief Technology Officer, George, conducted research at Cambridge University, and his cryptographic research has been adopted by the United Kingdom government and major banks. Dennis, the Chief Security Officer, made history as the first white hat hacker to breach Tesla’s security in 2014. The rest of the team consists of seasoned entrepreneurs, acclaimed scientists, and Web3 marketing veterans. Investors and Partners: Mind Network has completed a $2.5 million seed funding round led by Binance Labs, with participation from notable investment firms such as SevenX Ventures, Comma3 Ventures, HashKey Capital, Big Brain Holdings, and Arweave SCP Ventures. Strategic partners include: Chainlink, Consensys, Arweave, IPFS, Polygon, Arbitrum, IoTex, and more.
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