Originally published on: December 06, 2024
Zama, a leading cryptography company, has introduced a groundbreaking tool called the fhEVM Coprocessor on Ethereum’s Sepolia testnet. This innovative tool empowers developers to create confidential smart contracts on any blockchain platform.
The launch of the fhEVM Coprocessor on the Sepolia testnet on Dec. 6 marks a significant milestone for Zama, with plans for a full mainnet release in mid-2025. CEO Rand Hindi envisions a new era of blockchain applications that prioritize transparency while safeguarding user privacy.
According to Hindi, the implementation of the fhEVM native protocol has already paved the way for the development of robust blockchain infrastructures that strike a balance between transparency and privacy. This tool allows developers to deploy confidential smart contracts on non-FHE-enabled blockchains, addressing the privacy challenges faced by Web3 innovations.
Key features of the fhEVM Coprocessor include encrypted data processing, blockchain composability, and programmable privacy controls. With a performance capacity of around 20 transactions per second (TPS), the system has the potential to scale to hundreds or thousands of TPS in the future.
What sets the fhEVM Coprocessor apart is its utilization of Fully Homomorphic Encryption (FHE) technology, enabling encrypted data processing without decryption. This breakthrough simplifies the development of privacy-preserving decentralized applications (DApps) and allows developers to enhance privacy without extensive cryptographic expertise.
The practical applications of this tool range from private tokens and DeFi transactions to secure voting mechanisms and composable private identities. By revolutionizing privacy protection in blockchain, DApps, and smart contracts, Zama’s creation aims to democratize complex cryptographic solutions for developers worldwide.
Zama’s success has been underscored by its $73 million Series A funding round led by Multicoin Capital and Protocol Labs in March, solidifying its position as an industry trailblazer in blockchain privacy solutions.
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