Can Homomorphic Encryption Improve Blockchain Security?

2024-3-8 18:03

In the cryptocurrency industry, the quest for enhanced security measures is perpetual. One promising development on this front is fully homomorphic encryption, a revolutionary form of encryption that could significantly bolster the security of blockchain technology. 

Amid growing concerns over data privacy and cybersecurity, Paris-based startup Zama’s recent funding success highlights the growing interest and investment in this cutting-edge technology.

Is Homomorphic Encryption the Solution?

Zama has raised $73 million in a Series A funding round led by crypto venture fund Multicoin Capital and Filecoin creator Protocol Labs. This infusion of capital reflects the industry’s recognition of fully homomorphic encryption’s potential to transform data privacy and security. 

According to Zama’s CEO, Rand Hindi, the technology allows computations on encrypted data. In doing so, it offers a new approach to maintaining data privacy across various sectors, including blockchain and artificial intelligence.

Blockchain technology, best known for underpinning cryptocurrencies like Bitcoin, has been heralded for its ability to provide secure, transparent transactions. However, as the technology has proliferated into other applications, concerns over its vulnerability to sophisticated cyber-attacks have emerged. 

Read more: Deploying Blockchain Infrastructure: Challenges and Solutions

How Fully Homomorphic Encryption Works. Source: Galois

Fully homomorphic encryption solves this critical challenge by allowing data to remain encrypted during processing. This advanced form of encryption could be a game-changer for blockchain, enhancing its security by protecting data not only in storage and transmission but also when people use it.

This adds a vital layer of security, ensuring that sensitive information remains protected at all times, addressing one of the significant vulnerabilities of blockchain technology.

However, the broader implications of Zama’s work are far-reaching. By making fully homomorphic encryption “extremely easy to use,” as Hindi points out, developers without deep knowledge of cryptography can integrate this advanced security measure into their applications. 

Eventually, this democratization of high-level encryption could significantly accelerate the adoption of safer and more secure data practices across industries. The increasing frequency and sophistication of cyber-attacks highlight the urgent need for enhanced security measures.

Read more: What is Zero-Trust Architecture? A Guide to Blockchain Security

With its myriad applications, from finance to supply chain management, blockchain benefits immensely from integrating fully homomorphic encryption. Indeed, this latest technology ensures that it can continue to offer a secure, decentralized platform for transactions and data storage.

The post Can Homomorphic Encryption Improve Blockchain Security? appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

SherLOCK Security (LOCK) на Currencies.ru

$ 0.1387 (+1.71%)
Объем 24H $13
Изменеия 24h: 10.06 %, 7d: -33.06 %
Cегодня L: $0.1387 - H: $0.1387
Капитализация $0 Rank 3458
Доступно / Всего 0 LOCK / 4.969m LOCK

security encryption blockchain homomorphic improve beincrypto attacks

Источник: beincrypto.com

security encryption → Результатов: 57


Фото:

GlobalBase Security, Speed Upgraded, Gearing Up for Market Volatility

GlobalBase has the welfare of advanced and beginner traders in mind with ongoing maintenance and upgrade efforts routinely conducted on its platform. The global cryptocurrency trading company has announced that this series of overhauling measures include encryption techniques that large financial firms worldwide utilize in an effort to provide top-tier account security. Moreover, the platform’sRead More

2021-5-8 16:11


Security and encryption expert Securosys integrates with R3’s Corda Enterprise

Securosys, a market leader in cybersecurity and encryption, announced today it has partnered with enterprise blockchain software firm, R3, to provide signing key security for customers. As part of the partnership, the two companies have delivered packaged integrations between Securosys HSM and Corda Enterprise nodes, covering the major cryptographic keys demanded by some joint enterprise […] CryptoNinjas: Security and encryption expert Securosys integrates with R3’s Corda Enterprise

2019-10-24 18:23


Фото:

Microsoft’s open-source election software now has a bug bounty program

Microsoft has announced a bug bounty program for its open-source election software ElectionGuard, allowing researchers to uncover vulnerabilities and help bolster election security. Available as a software development kit (SDK), ElectionGuard aims to make voting tamper-proof by leveraging encryption to “enable a new era of secure, verifiable voting.

2019-10-21 09:04


Фото:

US and UK pressure Facebook for backdoor access to WhatsApp messages

The tug of war between privacy and security has come to the fore again. This time, the US, the UK, and Australia are making a case against end-to-end encryption (E2EE), calling on Facebook to delay its plans to implement the privacy feature across its messaging apps until “there is no reduction to user safety and without including a means for lawful access to the content of communications to protect our citizens.

2019-10-4 12:39


Google’s Quantum Computer Developments Raises Doubt On Bitcoin’s Security Over The Long Haul

Stories of Google having built a quantum computer in early September led to a number of debates on how long it will take before Bitcoin (BTC’s) encryption is finally cracked. In an uploaded photo on the official NASA website (which was taken down shortly), Google seems to have built a 53 qubit quantum computer and […]

2019-10-3 17:23


Фото:

Crown Sterling Sues Black Hat USA Conference For Being Heckled

Crypto startup Crown Sterling has filed a lawsuit against security conference Black Hat USA for reportedly being booed and heckled while the startup gave a presentation. To be fair to the hecklers, Crown Sterling's presentation was on the discovery of "quasi-prime numbers" and featured the startup's announcement of its "legitimate multi-dimensional encryption technology."

2019-8-27 19:24


Neutro ICO

The Neutro Protocol solves the trilemma of scalability, security and decentralization, allows for anonymous transactions and eradicates the need for centralized oracles. Neutro users can create a decentralized version of almost any real-world market that exists now only in a centralized system that we all use currently.

2019-5-15 14:13


Tkeycoin DAO ICO

TCD Corporation (formerly Holding BR) is an IT company engaged in the development of modern solutions for the economic and public spheres of activity. Since October 2017, TCD Corporation has been designing and developing a new cryptographic decentralized platform - "Tkeycoin DAO" for payment systems, banking and financial sector.

2018-7-12 22:56


BeANKH ICO

BeANKH aspired to develop an approach based on Blockchain technology to save the individual human personalities securely on a blockchain. The idea is that the decentralized storage and encryption will provide for the security of personal data, making the digital personality not only readily available, but also tamper-proof.

2018-7-3 19:57


дальше еще 8 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Binance Labs Enters DeSci Space with BIO Protocol Investment

Binance Labs supports BIO Protocol, pioneering decentralized science (DeSci) to transform research funding and ownership through blockchain-powered BioDAOs. The post Binance Labs Enters DeSci Space with BIO Protocol Investment appeared first on BeInCrypto.