Mind Network and BNB Greenfield Partner to Bring Fully Homomorphic Encryption to Web3
Under the terms of the partnership, Mind Network will apply its Zero Trust framework with cutting-edge Fully Homomorphic Encryption (FHE) techniques to BNB Greenfield’s web3 storage solution. This will allow BNB Greenfield to offer a more secure, private, and dynamic storage solution to its users.
BNB Greenfield feels that certain areas of crypto, such as credit, real-world asset tokenization, and data are inadequately innovated. They are focusing on revolutionizing data ownership to empower users with unprecedented control over their information. BNB Greenfield provides users with enhanced autonomy to create, own, share, execute, and trade their valuable data assets.
When asked about the partnership, Mind Network co-founder Mason Song replied: “We are thrilled to partner with BNB Greenfield to provide them with a more dynamic storage solution. BNB Greenfield is an exciting decentralized storage solution and we are confident that our partnership will help them to further their growth.”
FHE facilitates computations directly on ciphertext, enabling end-to-end encryption for user data. This ensures that data remains encrypted throughout its entire lifecycle, mitigating concerns about data breaches. Even if service nodes are compromised, user privacy remains securely protected through encryption. The leaked ciphertext remains indecipherable to potential hackers because the decryption key is securely stored within the data owner’s wallet.
Here are the broad points of the partnership:
- Increased security: FHE can help to protect sensitive data from unauthorized access.
- Improved privacy: FHE can help to keep user data private, even when it is stored on the blockchain.
- Increased scalability: FHE can help to scale Web3 applications by allowing them to process data more efficiently.
The collaboration between Mind Network and BNB Greenfield opens up new possibilities for developers to construct highly secure Web3 applications. This partnership empowers developers to create robust applications that can handle, collaborate, and trade private data with utmost confidence in its security and privacy. It is a major milestone for the industry and highlights the growing importance of FHE for Web3.
About Mind Network
Mind Network is the first FHE Restaking Layer for POS and AI Networks. Our framework operates as an FHE validation network, bringing secure computation and consensus to AI, DePIN, EigenLayer AVS, Bittensor Subnet, and many critical POS networks. Mind Network’s solution has found initial product-market-fit with projects such as IO.Net, MyShell, Bittensor, AIOZ, Nimble AI, ChainLink, Connext and more adopting its solution. It has achieved 650k+ active users and 3.2M+ transactions processed on its testnet.
Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, Comma3, SevenX, and received an Ethereum grant to conduct research on practical implementations for FHE technology on Ethereum.
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