[September 12th, 2024] – Fhenix has integrated Celestia’s decentralized data availability (DA) network and TIA token into its Layer 2 network, which supports Fully Homomorphic Encryption (FHE). This partnership improves Fhenix’s ability to provide scalable, privacy-first decentralized applications (dApps) while ensuring efficient, secure data handling. The collaboration is a major step in expanding privacy-preserving use cases on Ethereum, including finance, gaming, and private voting systems.
Unlocking secure data handling for privacy-focused dApps
Fhenix is a Layer 2 solution that enables Fully Homomorphic Encryption (FHE) on Ethereum and they have integrated Celestia’s modular data availability network and its TIA token to improve the scalability and privacy of its decentralized applications (dApps). Celestia’s decentralized architecture makes transaction data accessible and verifiable, providing a scalable solution for managing secure data on Fhenix’s network.
The TIA token serves as the backbone for incentivizing participants who verify and maintain data integrity across Celestia’s network. By leveraging this integration, developers on Fhenix can now execute privacy-focused smart contracts while benefiting from secure, cost-efficient data availability. This is crucial for use cases in decentralized finance (DeFi), gaming, and confidential voting, where the protection of sensitive information is paramount.
“Fhenix’s goal is to bring FHE to the masses and we are constantly working on innovative ways to do so. A key component of our strategy is to integrate a DA (data availability) solution that will enable us to reduce the cost of FHE computation. The addition of Celestia to the Fhenix stack means a flexible, scalable platform for confidentiality-enabled application developers.”
—Fhenix CEO and Co-Founder Guy Itzhaki
The collaboration follows Fhenix’s recent $15M Series A funding and the launch of its confidentiality-focused Ethereum Layer 2 testnet. These developments signal Fhenix’s commitment to expanding privacy solutions for Ethereum developers, ensuring that data privacy and decentralization remain at the forefront of the blockchain ecosystem.
Why this matters
Fhenix’s integration of Celestia’s DA network and TIA token marks a significant step forward for privacy-preserving technologies on Ethereum. As more applications require secure data handling, particularly in sensitive sectors like finance and governance, Fhenix provides a scalable, cost-efficient platform for developers building privacy-first dApps.
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Makena Walsh, Content Manager
