@invincible1
I know by now you must have been hearing that @zama is ensuring the security of our data.
The question is, how do they do this?
The main technology used by @zama for ensuring data privacy is the FHEVM
What's FHVEM?
The FHEVM (Fully Homomorphic Encryption Virtual Machine) is a groundbreaking extension of the standard Ethereum Virtual Machine (EVM), primarily developed by @zama. Its purpose is to enable confidential smart contracts on public blockchains.
In a standard blockchain, all data (balances, inputs, logic, state) can be seen by everyoneon the blockchain. FHEVM changes this. It uses Fully Homomorphic Encryption (FHE) to allow computations to be performed on data that is encrypted without decrypting them.
A user encrypts their sensitive data (e.g., a bidding amount or a private balance) using a global public key provided by the FHEVM network. They then submit the resulting ciphertext to the smart contract. The network and validators only see the encrypted data.