An on-chain secret computing project called Arcium, situated in Bern, Switzerland, has secured $5.5 million in investment.
Investors
- Anatoly Yakovenko
- Keone Han
- Coinbase
- Heartcore financing
- Longhash VC
- L2 Iterative Ventures
- Staking Facilities
- Smape Capital
- Everstake
Use of funds
The money will be used by the business to increase its development activities.
About Arcium
Providing efficient, verifiable, and trustless encrypted processing, Arcium is a parallelized secret computing network co-founded by Yannik Schrade, Lukas Steiner, Julian Deschler, and Nicolas Schapeler. To enable processing on encrypted data, Arcium develops Multiparty processing Execution Environments (MXEs), which integrate homomorphic encryption, MPC, zero-knowledge proofs, and other techniques. There will be two stages to its mainnet journey: a Private Incentivized Testnet and a Public Testnet. By guaranteeing optimal network performance for the development of scalable, confidential applications, they will provide the groundwork for Arcium. By the time the mainnet launches, the business hopes to have created an environment that will enable all on-chain apps to access a customized encrypted state and solve the basic constraint of blockchain technology.