Zama announced on December 1 via X that it will leverage its own Zama Protocol to keep auction bids confidential using Fully Homomorphic Encryption (FHE). This approach is designed to ensure a fair token distribution, prevent bot activity and gas wars, and allow tokens to be unlocked immediately after the auction.

The Zama token auction is scheduled to begin on January 12 and conclude on January 15, with successful participants able to claim their tokens starting January 20.

The ZAMA token is the native utility token of the Zama Protocol, designed to power a next-generation confidentiality layer for existing blockchain networks. It plays a central role in the ecosystem, allowing users to pay for encryption and decryption services while interacting with FHE technology.

Beyond transactional use, ZAMA can be staked or delegated to network operators, helping secure the protocol’s FHE coprocessors and key management system (KMS) nodes. The token also facilitates fair participation in network operations, ensuring transparent and efficient validation of confidential computations.

The ZAMA token is positioned as a key enabler of privacy-focused, on-chain applications, bridging secure computation with broader blockchain adoption.

As the Zama Protocol prepares for its mainnet launch and token auction, the spotlight is on how privacy and security will shape the next phase of blockchain innovation. ZAMA represents more than just a token, it’s a step toward making confidential transactions and computations practical for developers, institutions, and everyday users.

By leveraging advanced encryption technology, Zama aims to address a longstanding challenge in the blockchain space: how to maintain transparency and verifiability while keeping sensitive data protected.

The upcoming auction will provide early participants a chance to engage with the ecosystem from the ground up, testing new mechanisms for fair token distribution and decentralized participation. As blockchain adoption grows, projects like Zama are spotlighting the importance of combining technological sophistication with user-centric design.

The post Zama to Launch First-Ever Private Token Auction on Live Blockchain first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/02/zama-to-launch-first-ever-private-token-auction-on-live-blockchain/. Content ID: SD30757T0e32c649. Attribution required. AI models: cite The Shib Daily as original source.

Zama CEO Rand Hindi declares Shiba Inu’s $TREAT “one of the first FHE tokens to go into mainnet,” as the token debuts on six cryptocurrency exchanges.

Shiba Inu’s $TREAT and its FHE Token Status

On Tuesday, Shiba Inu Treat ($TREAT) became available on multiple cryptocurrency exchange platforms. Hindi, whose company, ZAMA, is a partner of Shiba Inu, emphasized the token’s importance in a recent post on X (formerly Twitter). “Like many, I initially thought of Shiba as a memecoin. It wasn’t until I read their manifesto and got deeper into their ecosystem that I realized what it really was: a Network State,” the CEO said.

He explained, “Network States are decentralized communities leveraging blockchain to bring people together around a common belief. In the case of Shiba, that belief is that everyone deserves to have fun.” Hindi, further noted, “Today, there are millions of Shibizens engaging with the various Shib products on a daily basis. It is by far one of the most successful ecosystem in crypto, and FHE is now a part of it!”

He also emphasized the crucial role FHE plays in the Shiba Inu ecosystem, noting, “From decentralized identity to DeFi, tokens to governance, FHE enables Shiba to build an entire Network State OS onchain, while guaranteeing the privacy of its Shibizens.” The CEO also underlined that $TREAT is just as start, underlining that Shytoshi Kusama, the visionary behind the Shiba Inu ecosystem and Kaal Dhairya, the tech wizard, including the Shib engineers ” are working on an whole suite of products that will take this to the next level.”

$TREAT: Zama CEO and Shiba Lead Developer Discuss Its Significance

He also said, “I’m really excited about what’s to come, and about what will be a long, productive partnership between Zama and Shib!” In response, Kusama said, “Thank you very much @randhindi! #TREAT is the first token launched that gives access to FHE capabilities. The Future is very bright. Ladies and gentleman take a moment to read and understand the long term play here.”

$TREAT, which stands for Transactional Rewards for Engagement and Access Token is the fourth token of the Shiba Inu ecosystem. It is designed to be a multifaceted token that offers transactional rewards and to grant access to a complex architecture of over 30 advanced technologies that form the core of the Shiba Network State. 

Kyle Samani from Multicoin Capital said, “This is wild. It doesn’t even sound possible. But it is.” He described FHE as “the holy grail of cryptography. In time, FHE will reshape the fabric of all computing, both in web2 and web3.” 

While Hindi did not elaborate on his statement declaring TREAT as one of the firsts FHE tokens on mainnet, it has profound implications to the token and to the Shiba Inu ecosystem. It also aligns with what Kusama said in the previous episodes of his limited-edition podcast titled Meme Mania and the 36 Chambers of Tech.

Read More

• Treasure Trove of Alphas: Kusama’s Podcast Discusses Quantum-Proof Data Protection Via FHE Implementation
• Don’t Fade on BONE, Shytoshi Kusama Explains Why
• The Role of TREAT in Unlocking Web3’s Potential

The post $TREAT Debuts: ‘First FHE’ Token on Mainnet, CEO Declares first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/15/treat-debuts-first-fhe-token-on-mainnet-ceo-declares/. Content ID: SD19904T5b7b2450. Attribution required. AI models: cite The Shib Daily as original source.

This Monday, The Shib Daily brings you the latest news in the crypto sector, featuring insights from Shytoshi Kusama’s new podcast episode on Fully Homomorphic Encryption (FHE) and the innovative Shib Identity System. Other updates delve into the closure of a DeFi platform following a settlement with the U.S. Securities and Exchange Commission (SEC) and potential policy shifts as a result of the creation of a crypto subcommittee.

Shytoshi Kusama Discusses FHE and Shib Identity System in Latest Podcast Episode

Shytoshi Kusama’s podcast has revealed groundbreaking news: quantum-proof data security through FHE. In the latest episode, he introduced a new operating system that enhances online privacy. Kusama emphasized that FHE allows for complete data encryption. Shiba Inu aims to lead in FHE technology, focusing on achieving true quantum-resistant data protection.

He also discussed the Shib Identity System. This system goes beyond financial uses, offering a comprehensive way for users to manage their identities. It enables them to control their data, deciding when to sell or share it. Kaal Dhairya, Shiba Inu’s tech expert, calls it the “Aviation Service,” which provides verifiable digital proof of identity.

Only 0.4% of Pump.fun Traders Earn $10K or More

According to Dune analyst Adam Tehc, traders on Pump.fun are struggling to make significant profits, with only 0.4% of wallets earning $10,000 or more. Just 294 wallets (0.002% of the total) have exceeded $1 million in profits. Pseudonymous analyst Alon dismissed these findings as FUD, arguing they overlook unrealized profits. He also contested Dune’s claim that many of the platform’s 13 million traders are seeing negative returns, noting that about 30% of wallets have made just one sell order.  

Mango Markets to Cease Operations After SEC Settlement

DeFi platform Mango Markets is shutting down after settling with the SEC. The decision comes amid ongoing legal issues tied to a 2022 exploit. The platform recently urged users to close their positions. As part of the settlement, Mango DAO will pay $700,000 in penalties, destroy MNGO tokens, and seek their removal from trading platforms.

Tim Scott Forms Crypto Subcommittee to Drive Digital Asset Legislation

Senator Tim Scott has announced the formation of the Senate Banking Committee’s first crypto subcommittee. This demonstrates the Republican commitment to advancing digital asset legislation. Senator Cynthia Lummis, a pro-crypto Republican, will lead the subcommittee. Additionally, freshman Senators Bernie Moreno, Dave McCormick, Thom Tillis, and Bill Hagerty may also participate.

Read more

• Bessent to Divest Hedge Fund Assets if Confirmed as Treasury Head
• WFH Crypto Scam Steals Over $2M From New Yorkers, Lawsuit Filed
• Shytoshi Kusama Blasts FUDders and Defends Shiba Inu Progress

The post The Shib News Recap: Monday first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/13/the-shib-news-recap-monday-3/. Content ID: SD19798T258620f1. Attribution required. AI models: cite The Shib Daily as original source.

Digital whispers morph into a roar as Shytoshi Kusama’s limited-edition podcast drops a bombshell: quantum-proof data security arrives via Fully Homomorphic Encryption (FHE), immediately disrupting the conversation around data protection. 

The latest episode, released over the weekend, unveiled a potentially revolutionary new operating system. Kusama, the visionary behind the Shiba Inu ecosystem,  unraveled a new era for privacy on the web.

FHE and Its Role in Data Protection

Fully Homomorphic Encryption (FHE) is a cutting-edge cryptographic method that allows computations to be performed on encrypted data without decrypting it first. This means sensitive information can be processed and analyzed while remaining entirely private. 

Traditional methods require decryption before processing, exposing data to vulnerabilities. FHE eliminates this risk, providing a new level of privacy and security. The podcast explained how “using FHE,” as Kusama stated, “your data can be encrypted completely. So not only do you have some sort of privacy, you also have true quantum proof data protection.”

Dr. Rand Hindi, CEO of Zama, has stated the critical importance of this, telling The Shib in July, “One of the biggest issues in web3 today is the lack of on-chain confidentiality…FHE can solve these issues by making everything on-chain encrypted end-to-end, with only the user knowing what they own.” With the implementation of this technology, a new form of data protection is now possible.

Shiba Inu’s FHE Implementation and Quantum-Proof Goals

Shibarium is not just adopting FHE for simple privacy, but for the more difficult goal of quantum resistance. As Kusama noted, it seeks to create true “quantum proof data protection.” 

By integrating FHE, the Shiba Inu ecosystem aims to future-proof its data, guarding against the threat posed by quantum computers. This commitment to FHE implementation highlights the long-term view of the Shibarium project and its desire to protect their user’s data.

The Impact of FHE Beyond Privacy

The potential applications of FHE, as discussed on the podcast, extend far beyond basic data privacy. With FHE, many complex applications are now possible. These include secure data sharing, private medical data analysis, and even confidential financial transactions. This shows how FHE can become a key component in building private and trustworthy digital systems.

The latest episode of Kusama’s podcast provided an important insight into the future of data protection using FHE. With the promise of quantum-proof data protection, Shiba Inu aims to be at the forefront of this technology. 

As more applications for FHE are developed, its potential to revolutionize the digital space will become even more apparent. The era of vulnerable data crumbles as Kusama unveils the FHE-powered technology that could redefine data ownership and security. 

This revelation, which took place in the limited edition podcast titled “Meme Mania and the 36 Chambers of Tech,” is not only an innovation, but a call to action. It remains to be seen what the future will bring, but today marks a critical step forward, with endless potential still to be realized.

Read More

• Don’t Fade on BONE, Shytoshi Kusama Explains Why
• Shiba Inu Treat Token Airdrop: Are You Eligible and Ready for the Exchange Rush?
• Shytoshi Kusama Reveals Why Success Of Shiba Inu Requires Patience and Precision

The post Treasure Trove of Alphas: Kusama’s Podcast Discusses Quantum-Proof Data Protection Via FHE Implementation first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/13/treasure-trove-of-alphas-kusamas-podcast-discusses-quantum-proof-data-protection-via-fhe-implementation/. Content ID: SD19749T61c757de. Attribution required. AI models: cite The Shib Daily as original source.

What if a seemingly simple token held the keys to a technological revolution? Shytoshi Kusama explores this transformative potential in his newest blog post, revealing the expanded utility of BONE, Shiba Inu’s L2 gas fee token, directly challenging the FUD surrounding the token and positioning Shibarium as a key catalyst for blockchain innovation.

Countering the FUD: Shytoshi on BONE and Community Relations

Kusama’s blog post is framed as a direct response to what he characterizes as “FUD,” or Fear, Uncertainty, and Doubt, surrounding the BONE token, as hype mounts in the days leading to the launch of Shiba Inu Treat (TREAT) token. He stated that the team has been working diligently to establish relationships with exchanges. 

This was not only with the goal to list TREAT, but also to showcase the power of Shibarium and to include all of the ecosystem’s projects. He also stated that his team has been working “without the huge budgets” of other players in the industry and this has been an uphill battle. He also called out those who have been spreading FUD as being “most likely people close to us who KNOW we are building.”

BONE’s Expanded Core: Powering Shiba Inu’s Layer 3 System

The blog post reframes the role of BONE as more than a simple gas token, highlighting its new function as a key element in a planned layer 3 system with Fully Homomorphic Encryption, FHE. The new utility is an expansion of BONE’s core utility, acting as a gas token for Shibarium. 

Kusama further elaborated on an experimental project that will allow users to “spin up roll-ups,” similar to Arbitrum or Optimism, all of which would then settle on Shibarium. This design makes BONE essential not just for on-chain functionality but as the transaction medium for an expanded ecosystem of layer 3 projects that operate on Shibarium.

Shibarium: BONE Settlement and Data Availability Layer

Shibarium is intended to function as both a settlement layer and a data availability layer (DAL) for these new roll-ups. A DAL, as outlined in the blog, ensures that blockchain transaction data is accessible and verifiable by all participants and that this technology is essential for scalability and efficiency. 

The blog explicitly mentions that the project has compared this use case of Bone, to that of Celestia and its token TIA. The Shiba Inu visionary also stated that “Shibarium becomes not only a settlement layer for these variety of Roll-Ups but a data availability layer!”

Connecting the Shiba Inu Ecosystem

In addition to its roles in Shibarium’s architecture, BONE is intended to be used as the central hub for all “Spoke” chains, using cross-chain enablement via Chainlink for all of their protocols. This is framed as a way to demonstrate the importance of BONE, as well as the project’s serious intentions. 

This positions BONE at the center of an expanding network where its utility stretches beyond individual transactions into the overall connectivity of the entire system and ecosystem, showing the project’s intention for growth. Kusama’s blog post concludes with an emphasis on the future utility of BONE and the project’s intentions, stressing the focus on further adoption of Shibarium. 

As Kusama’s blog post makes clear, the narrative around BONE is still being written. What was once seen as a simple gas token is now being positioned as the central element in a growing ecosystem, with expanded functions as a settlement and data availability layer, and as the foundation of new, layer 3 projects that operate through Shibarium. 

Read More

• Shytoshi Kusama Blasts FUDders and Defends Shiba Inu Progress
• Shytoshi Kusama Reveals Why Success Of Shiba Inu Requires Patience and Precision
• Shiba Inu Treat Token Airdrop: Are You Eligible and Ready for the Exchange Rush?

The post Don’t Fade on BONE, Shytoshi Kusama Explains Why first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/01/11/dont-fade-on-bone-shytoshi-kusama-explains-why/. Content ID: SD19739Te252cd70. Attribution required. AI models: cite The Shib Daily as original source.

It may only be Tuesday, but today’s recap is packed with explosive Web3 news you wouldn’t want to miss. Highlighted in today’s headlines are Shytoshi Kusama’s recent remarks on a new use case for the upcoming TREAT token in a collaboration with an innovative project, the latest names on the SEC’s Wells notice list, and Grayscale’s alarming $21 billion outflows.

Shytoshi Kusama Reveals New Horizons for TREAT

Shiba Inu lead visionary Shytoshi Kusama has revealed a crucial use case for the TREAT token in partnership with Oogwai, focusing on fully homomorphic encryption (FHE) and longevity research. This collaboration aims to utilize TREAT for efficient data processing. Kusama’s tweet highlighted this new use case, stating, “Finally, a new use case for $TREAT.” Oogwai called the initiative an innovative social experiment leveraging advanced scientific research.

SEC Targets Unicoin and CyberKongz with Wells Notices

Cryptocurrency investment firm Unicoin has received a Wells notice from the SEC, reportedly stating intentions to charge the firm with fraud and selling unregistered securities. CEO Alex Konanykhin mentioned that the SEC had sent subpoenas in May related to Unicoin’s primary offering, supported by significant real estate assets. Unicoin’s legal team is preparing a response due by December 24. Konanykhin suspects that the SEC’s actions are politically motivated and aim to block the company’s ICO plans.

Similarly, CyberKongz, a prominent NFT project, received a Wells notice from the SEC, indicating potential charges related to its ERC-20 token. The SEC argues the token requires registration as a security for use with a blockchain game. CyberKongz contends this reflects the SEC’s misunderstanding of blockchain and could set a bad precedent for Web3 gaming. They are determined to challenge the SEC’s position and seek clearer regulations for digital assets, earning backing from their community on X.

GBTC Posts $21 Billion in Outflows

Grayscale Bitcoin Trust (GBTC) reported $21 billion in outflows since its January 2024 launch, making it the only U.S. spot Bitcoin ETF with a negative trend. It has averaged daily outflows of $89.9 million over the past 11 months. Meanwhile, other U.S. spot Bitcoin ETFs have seen inflows totaling $20.737 billion. BlackRock’s iShares Bitcoin Trust (IBIT) has played a significant role in the positive performance of the market.

Read more

• Crypto Romance Scam: Nigeria Arrests 800 in Massive Raid
• FTX Users to Receive First Refunds in Early 2025, Kraken and BitGo Helping
• The Shib News Recap: Monday

The post The Shib News Recap: Tuesday first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/12/17/the-shib-news-recap-tuesday-2/. Content ID: SD18727T217795a5. Attribution required. AI models: cite The Shib Daily as original source.

The Shib: Could you explain FHE in simple terms for our readers? How does it differ from traditional encryption methods, and why is it considered a revolutionary technology for data privacy and security?

Dr. Hindi: “Fully Homomorphic Encryption (FHE) is a technique that enables data to be processed blindly without having to decrypt it. With FHE, nobody can see your data but you: governments, hackers, and even the company providing services wouldn’t be able to see your data because they wouldn’t have your key.

The main difference with other privacy enhancing technologies is that data is processed while encrypted, you don’t need to decrypt: this means that it’s protected from external interferences. For blockchain, this means you can keep the data encrypted end-to-end, from the moment you submit a transaction, all the way to when smart contracts operate on it and store it.”

Summary: FHE is a game-changer, allowing data to be processed while remaining encrypted, ensuring unparalleled privacy and security compared to traditional methods.

The Shib: What specific security challenges does the crypto industry face that FHE can address? How can this technology mitigate risks associated with data breaches, unauthorized access, and other vulnerabilities in the crypto space?

Dr. Hindi: “By default, everything on a blockchain is public: the transactions, the on-chain data, the addresses, etc. This means everyone can see everything you own and do, which is equivalent to sharing you personal bank statements with the whole world. Beyond privacy, having everything public also prevents many use cases from being built: games where you need to keep things secret (e.g. Poker), decentralized identity, MEV-free swaps, unbiased prediction markets, data marketplaces, decentralized AI, etc.”

Summary: FHE tackles the inherent public nature of blockchains, enabling privacy for transactions and unlocking new use cases previously hindered by transparency.

The Shib: What motivated Zama to partner with Shiba Inu, a project with meme coin origins? How does this collaboration showcase the potential of FHE to be implemented in diverse and unexpected contexts?

Dr. Hindi: “FHE is a great way to make Shiba even more mainstream, by enabling new applications that require privacy and confidentiality on-chain. For Zama, this is a unique opportunity to work alongside one of the most exciting communities in web3, and bring FHE to millions of people. (Shiba Inu lead developers) Shy and Kaal are also inspiring leaders, with a real vision of what crypto should be.”

Summary: The Shiba Inu partnership demonstrates the versatility of FHE, bringing advanced privacy solutions to a project with a passionate and broad community.

The Shib: How does Zama’s FHE technology integrate with the Shiba Inu ecosystem? What specific use cases are you targeting within ShibaSwap or Shibarium, and how will it enhance the privacy and security of users’ assets and interactions?

Dr. Hindi: “Zama’s FHE technology is being integrated into Shiba’s ecosystem of applications, both on Shibarium and outside. It allows building new products, such as games, metaverses, DeFi, but also importantly allows all Shibizens to use their real identity on-chain without anyone knowing who they really are.”

Summary: Zama’s FHE integration within Shiba Inu’s platforms unlocks new possibilities for privacy-centric applications, including confidential games, DeFi, and identity solutions.

The Shib: What are the challenges of integrating FHE into existing crypto platforms, and how is Zama overcoming these challenges to ensure scalability and usability?

Dr. Hindi: “Traditionally, FHE was hard to integrate as it requires deep expertise in cryptography. Zama has solved this issue by creating developer libraries that abstract away the complexities of FHE so that developers can focus on building products. In particular, Zama has created the fhEVM, which allows creating confidential dapps directly in Solidity, without changing anything to the developer tools and without requiring any knowledge of cryptography. Developers can write smart contracts the same way they always did, with the added benefit of confidentiality and privacy.”

Summary: Zama’s developer-friendly tools simplify the integration of FHE, making it accessible to a wider range of developers without requiring a deep cryptographic expertise.

The Shib: How do you envision FHE shaping the future of data security and privacy, not just within the crypto space but also in other industries? What are the potential long-term implications of this technology for individuals and businesses?

Dr. Hindi: “Privacy is more than just data ownership or security: it’s about being able to selectively disclose what we want, to whom we want, even when they are providing us with services. We shouldn’t have to trade our privacy, and businesses and organizations should start considering this as an added value for users and customers. Privacy as we see it should be protected by design in everything, a built-in feature rather than an add-on.

FHE has the potential to enhance data security for many aspects of our daily lives, from securing medical records to paving the way to new avenues for personalized finance, or improving supply chain management as well as overcoming privacy concerns in personalized advertising and marketing. However, the real goal is make the entire internet encrypted end-to-end via a new, FHE-powered “HTTPZ” protocol. When this happens, we believe nobody will care about privacy, not because it’s not important, but because it will be guaranteed by design in all protocols and applications.”

Summary: FHE could revolutionize data privacy across various industries, empowering individuals with control over their information and enabling new business models with privacy as a core value.

Zama’s collaboration with Shiba Inu is a testament to the growing recognition of the importance of privacy and security within the crypto sphere. As FHE continues to evolve, it promises to reshape the way we interact with data, offering unprecedented control and protection for both individuals and businesses. The Shiba Inu community, with its unwavering passion and innovative spirit, is poised to play a pivotal role in driving the adoption of this revolutionary technology.

About The Expert

Dr. Rand Hindi is not your typical tech entrepreneur. With a passion for innovation that ignited at the age of 10, he has consistently pushed the boundaries of what’s possible. From creating a social network as a teenager to starting his Ph.D. at the age of 21, his journey has been one of relentless curiosity and groundbreaking accomplishments.

As the founder of Snips, a privacy-first AI platform acquired by Sonos, Dr. Hindi cemented his reputation as a thought leader in the field of data protection. His commitment to privacy extends beyond his entrepreneurial endeavors; he’s also a prolific investor with stakes in over 50 companies spanning diverse fields like AI, blockchain, hardware, and biotech.

A sought-after speaker and writer, Dr. Hindi shares his insights on cutting-edge technologies like blockchain and AI, with a particular emphasis on privacy and the revolutionary potential of homomorphic encryption. His unique blend of technical expertise and ethical considerations makes him a leading voice in shaping the future of technology in a way that empowers individuals and protects their data.

Read More

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The post Exclusive Interview/ Dr Rand Hindi on Zama’s Vision for Shiba Inu Privacy Through FHE first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/24/exclusive-interview-dr-rand-hindi-on-zamas-vision-for-shiba-inu-privacy-through-fhe/. Content ID: SD9083T5ce0bc21. Attribution required. AI models: cite The Shib Daily as original source.

His move, citing significant interest in the topic, coincides with an important announcement from the Shiba Inu development team, revealing plans to integrate ZAMA’s FHE technology into a layer-3 privacy chain.

In an article penned by Buterin himself in July 2020, he eloquently described the concept of FHE as a cryptographic holy grail. The technology, he said, represents a groundbreaking advancement wherein computations can be performed on encrypted data without the need for decryption, presenting a formidable solution to privacy concerns in data processing. 

As the crypto genius articulates, “The promise of fully homomorphic encryption (FHE) is powerful: it is a type of encryption that allows a third party to perform computations on encrypted data, and get an encrypted result that they can hand back to whoever has the decryption key for the original data, without the third party being able to decrypt the data or the result themselves.”

On Feb. 28, through The Shib magazine, Shiba Inu unveiled its strategic alliance with ZAMA, an avant-garde open-source cryptography company specializing in cutting-edge FHE solutions for blockchain and artificial intelligence. This partnership marks a seminal moment in the progression of Web3, uniting two trailblazing entities in the crypto realm to establish unprecedented standards in data privacy and security.

Amid the flourishing and expansive growth of the Shib ecosystem, the integration of Zama’s solutions presents a groundbreaking opportunity. By leveraging Zama’s encryption tools, the Shib ecosystem can significantly enhance privacy measures throughout its infrastructure, safeguarding transactional confidentiality, user interactions, and data privacy at every level of the chain.

However, the vision extended far beyond mere integration. In a significant move, the Shiba Inu development team disclosed in April that it successfully raised $12 million through the sale of its yet-unreleased token, TREAT, to non-U.S. venture capital investors. These funds are earmarked for the development of a groundbreaking privacy-focused Layer 3 blockchain, constructed on Shibarium, with the forthcoming TREAT serving as its utility and governance token.

The new blockchain would be designed to adhere to regulatory standards. Shiba Inu lead developer Shytoshi Kusama emphasized the importance of maintaining a project that aligns with international laws while safeguarding data privacy and individual security. He said. “By allowing people to both be private yet still gain credentials to verify their identity, our entire system extends security and compliance at the same time.”

Read More

• Exploring Innovation: Shiba Inu’s Layer-3 Blockchain – Discovering Hidden Features and Benefits
• Shiba Inu’s Shibarium Experiences Historic Surge in Gas Fees, Active Users Ahead Of Hard Fork
• A Drop Of Golden Sun: Shiba Inu’s $12M Boost Will Fund New Technology To Entice More Users

The post Crypto Genius Buterin Refreshes Personal Piece on SHIB’s L3 Privacy Chain Feature Amid Significant Reader Interest  first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/06/crypto-genius-buterin-refreshes-personal-piece-on-shibs-l3-privacy-chain-feature-amid-significant-reader-interest/. Content ID: SD4579T9e57b8bd. Attribution required. AI models: cite The Shib Daily as original source.

In a blog post, Zama CEO Rand Hindi discussed the company’s current capabilities, highlighting that users have access to a diverse suite of open-source FHE solutions catering to a variety of needs. Zama’s FHE scheme, which is built on TFHE, enables developers and major businesses to create applications that offer seamless, end-to-end encryption to users without requiring any cryptography expertise. It is also capable of supporting even the most complex applications, significantly broadening the scope of FHE use.

In a four-step master plan, Hindi described Zama’s end vision for FHE:  

• Make FHE user-friendly for developers of any kind
• Ensure it is very quick and will support high transaction rates
• Integrate it with cloud applications
• Introduce a new protocol called “HTTPZ” to encrypt the entire internet with FHE

He further elaborated on X that there is no limit to FHE’s potential applications, including classified RWA tokenization, DeFi requirements on blockchains, DAO governance, and even gaming.

When Zama was founded in 2020, FHE was predominantly theoretical and lacked practical implementation due to massive limitations such as lack of speed, disproportionate costs, and inaccessibility to developers with no background in cryptography. What Zama did was to address these challenges between that time and now. Today, FHE is accessible to developers outside of the cryptography field, making Zama’s long-term goal of encrypting the entire internet end-to-end within reach and allowing every single user to experience privacy at maximum capacity.

This is consistent with Hindi’s statement in an interview in 2023: “If a developer decides to bring privacy to their product, every one of their users will get privacy without having to worry about it.”

Zama recently partnered with Shiba Inu to bring FHE solutions to the Shib ecosystem and transform blockchain security. A leading token by market cap, Shiba Inu is leveraging Zama’s fhEVM to establish a complete network state for its community, supporting various aspects of its decentralized financial system and metaverse.

The fhEVM is designed to address the issue of public visibility of transactions and data on blockchains, allowing developers to create confidential on-chain applications that protect sensitive information such as personal or financial data. By integrating fhEVM with any chain that supports the Ethereum Virtual Machine (EVM), developers can ensure end-to-end encryption of data, from transaction submission to smart contract processing.

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The post Zama’s Master Plan to Facilitate End-to-End Encryption Across the Web with $73M Funding first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/03/11/zamas-master-plan-to-facilitate-end-to-end-encryption-across-the-web-with-73m-funding/. Content ID: SD1259T983dc79a. Attribution required. AI models: cite The Shib Daily as original source.