New Manifesto Details a Cooperative Approach to Enhancing Security and Privacy in Blockchain Applications
April 11, 2024, Dover, Delaware USA – Today marks the introduction of Fair Math's new project—a Collaborative Fully Homomorphic Encryption Ethereum Virtual Machine (Collaborative FHE-(E)VM). This initiative aims to bring together minds from around the world to improve the way privacy and security are handled on-chain. The importance of Collaborative FHE-(E)VM lies in its potential to revolutionize how we approach data privacy and security in blockchain applications. By enabling computations on encrypted data, it opens new possibilities for secure decentralized applications that protect user data by design.
Fair Math CEO Gurgen Arakelov says:
"Initially launched back in 2023, FHERMA challenges have brought together a wide range of people from different areas of Computer Science. The first winning solutions show how a competition-based approach really helps the open-source community to become better."
The company released a manifesto that outlines how anyone can join this community effort.
Key points of the manifesto include:
- An overview of web3 development trends and associated bottlenecks.
- A detailed comparison of the development processes via FHE and ZK circuits, demonstrating the advantages of FHE in certain scenarios.
- A plan for developing the Collaborative FHE-(E)VM through FHERMA challenges, focusing on a competition-based approach.
Fair Math CTO Nikita Kaskov added:
"In ZK field, we learned the hard way how time-consuming and frustrating development of circuit logic can be. In our manifesto, we explain how to leverage the underlying math to make FHE circuits development more efficient and straightforward."
For more information about the Collaborative FHE-(E)VM project.