Mind Network and IoTeX Partner to Bring Zero Trust Security to Decentralized Physical Infrastructure Networks
Mind Network, a zero trust web3 company, and IoTeX, a leader in the DePIN sector, today announced a partnership to bring zero trust security to decentralized physical infrastructure networks. The partnership will combine Mind Network’s patented zero trust framework with IoTeX’s leading DePIN infrastructure to create a more secure and user-centric way to manage physical assets.
Mind Network’s zero trust framework uses Zero Knowledge Proof (ZKP) and Adaptive Fully Homomorphic Encryption (AFHE) to enable end-to-end encrypted computation and storage for on-chain private data. This means that data can be shared and analyzed without ever being decrypted, which provides a high level of security and privacy.
IoTeX’s DePIN technology, including their off-chain computing infrastructure called W3bstream, uses blockchain to create a decentralized network of physical assets. This network can be used to track the ownership and location of physical assets, as well as the transactions that occur between these assets. W3bstream allows device data to be transferred from devices to EVM networks network in a secure and transparent way so that network participants in the network have equal access to the data.
The partnership between Mind Network and IoTeX will address the challenges of decentralized physical infrastructure networks, such as security, privacy, and scalability. By combining Mind Network’s zero trust framework with IoTeX’s DePIN technology, the partnership will create a more secure, private, and scalable way to manage physical assets.
This partnership is a major step forward for the DePIN space and web3 more broadly. It demonstrates the growing commitment to security and privacy in the Web3 ecosystem, and it paves the way for the widespread adoption of DePIN technology.
Here are some of the challenges of decentralized physical infrastructure networks that fully homomorphic encryption solves:
- Security: Fully homomorphic encryption can be used to encrypt data so that it can only be decrypted by authorized parties. This can help to protect data from unauthorized access and tampering.
- Privacy: Fully homomorphic encryption can be used to perform computations on encrypted data without decrypting it. This can help to protect the privacy of data, even when it is being processed by third parties.
- Scalability: Fully homomorphic encryption can be used to scale up DePIN networks to support a large number of participants and assets. This can help to make DePIN networks more efficient and cost-effective.
The partnership between Mind Network and IoTeX will address these challenges and make DePIN networks more secure, private, and scalable. This will help to accelerate the adoption of DePIN technology and its benefits for a variety of industries.
IoTeX is a modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains. It empowers developers to integrate Web3 into everyday life through innovations in connected smart vehicles, city mapping, green energy initiatives, super-charged fitness platforms, environmental data tracking, proof-of-presence applications, proof of humanity, and more. With the launch of W3bstream, the world’s first off-chain compute framework for smart devices and real-world data, IoTeX has become the leading Decentralized Physical Infrastructure Network (DePIN) technology provider, enabling vertical innovations for machines, humans, businesses, and dApps to interact with trust and privacy. Backed by a global team of 60+ research scientists and engineers, IoTeX combines its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware to connect billions of smart devices, machines and sensors and dApps across the physical and digital world.
About Mind Network
Mind Network is a Zero Trust (Zero Knowledge Proofs #ZKP + Fully Homomorphic Encryption #FHE) 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.