“A blockchain platform called Fhenix was able to raise $7 million in venture capital funding. The seed funding round was led by Multicoin Capital and Collider Ventures, with participation from several other investors including Node Capital, Bankless, HackVC, TaneLabs, and Metaplanet.
The newly acquired capital will be used to launch the public testnet of the Fhenix Network in the coming year and to further develop applications within the ecosystem.
These advancements in the blockchain industry will be a central topic of discussion at the Benzinga Future of Digital Assets conference scheduled for November 14. The conference aims to provide insights into the evolving landscape of digital currencies and the challenges they pose on a global scale.”
“Fhenix is designed to fill a crucial void within the Ethereum ecosystem, particularly in safeguarding commercially sensitive information,” stated Guy Zyskind, the founder of the startup. Zyskind, who also serves as the CEO of SCRT Labs, highlighted Fhenix’s role in building trust among users to store sensitive data securely on public blockchains, while also offering developers the necessary tools to process and utilize this data.”
“The Fhenix platform runs on the fhEVM, which is an extension of the Ethereum Virtual Machine (EVM). This extension makes it easy for developers to incorporate Fully Homomorphic Encryption (FHE) into their work.
Originally developed by the cryptography company Zama, this protocol has been integrated into the Fhenix Network as part of a strategic partnership.
After successfully launching a private developer network in July, Fhenix is now preparing to introduce its official public testnet called ‘Renaissance’ in the first half of 2024. This move is intended to create a playground for developers, fostering a dynamic ecosystem that promotes the widespread adoption of Fully Homomorphic Encryption (FHE) technology in the blockchain industry.”
