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As reported by CoinDesk, Fhenix, a modularized blockchain, has raised $7 million in a seed funding round co-led by Multicoin Capital and Collider Ventures, with participation from Node Capital, Bankless, HackVC, and others. The funds raised will be used for the testnet launch scheduled for Q1 2024 and the ecosystem application development.
Fhenix is powered by fully homomorphic encryption (FHE) and aims to bring computation over encrypted data to EVM smart contracts and enable the deployment of confidential smart contracts. Its fhEVM allows Ethereum developers to integrate FHE into their smart contracts and perform encrypted computation of data. The blockchain utilizes a modular design and can be integrated into all blockchain's data layers and protocol types.
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