Ethereum-Based Fhenix Raises $7M to Develop Confidential Blockchain Using Fully Homomorphic Encryption
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Fhenix, an Ethereum-based confidential blockchain, raised $7M in a seed round led by Multicoin Capital.
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The funds will help Fhenix launch its public testnet in early 2023, following a private devnet launch in July 2022.
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Fhenix uses fully homomorphic encryption (FHE) to enable private transactions and smart contracts.
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Fhenix sees FHE as superior to zero-knowledge proofs for privacy and compatibility.
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Use cases include private DAO voting, blind auctions, confidential tokenization, and identity attestations.