It was the events at Binance Square that gave me the opportunity to gain an in-depth understanding of the MindNetwork project.
As AI has become one of the hottest narratives in this bull market, I am also pondering what concepts or highlights in AI could serve as key fuel for this round of the bull market?
The series of technologies and visions proposed by Mind Network has given me more imagination about the future of AI and blockchain integration.
🔥First, let me introduce the project 😉
Mind Network is a Web3 project focused on Fully Homomorphic Encryption ($FHE) and is backed by Binance Labs. They are building a future-oriented quantum-resistant data encryption infrastructure that keeps data encrypted throughout its entire lifecycle, truly realizing 'cryptographic computing'. They have already garnered support from well-known institutions including Binance Labs (Yzi Labs), Animoca Brands, Hashkey, Chainlink, Cogitent, and others. In 2023, they completed a $2.5 million seed round financing, followed by a $10 million Pre-A round in 2024, totaling $12.5 million in funding, showcasing impressive strength.
🔥My personal understanding of FHE ⬇️
Mind Network utilizes FHE (Fully Homomorphic Encryption) technology to enable data to be computed while in an encrypted state, without the need for decryption throughout the entire process. This means that the data owner can maintain privacy while enjoying the value brought by AI and other applications. This has great prospects for decentralized storage, AI computing sharing, cross-chain collaboration, data assets, AI agents, and other scenarios.
For example, when we talk about on-chain AI now, if data is made public and transparent once it is on-chain, the transactions are clear, but the confusion it brings is that many enterprises and users cannot accept data being directly exposed; however, if data can be uploaded after being encrypted, AI or other applications can compute directly on the encrypted data, and the results can then be decrypted and used by the data owner, it would completely resolve the contradiction between 'usability' and 'privacy'.
Moreover, I see the HTTPZ protocol as a "fully encrypted network layer protocol": it does not only protect the transmission path (like traditional HTTPS), but also end-to-end encrypts the entire link of transmission, storage, and computation. Coupled with the computational protection of FHE, it ensures that data is never exposed from start to finish. This could bring greater breakthroughs for future AI agent collaboration, cross-chain computing, decentralized authentication, personal data sharing benefits, and other directions or applications!
To be honest, I think Mind Network cleverly combines AI, cryptographic computing, and blockchain. It is not merely focused on the FHE technology, but is trying to promote the implementation of a standard for a 'trustworthy AI network'. If this direction can be accepted by more and more developers and projects, it could truly open a new chapter for on-chain AI.
🔥To summarize
The FHE technology adopted by Mind Network is a "cryptographic bridge" connecting AI and the on-chain world, allowing data to be 'used but invisible', truly safeguarding privacy and sovereignty.
It can be imagined that this brings greater inspiration to individuals or institutions deeply harmed by Web2 who are wary of security and privacy, allowing their data to truly become an asset, an asset that won't leak and can generate returns, rather than being fearful of many issues such as security and privacy!
I am optimistic about this direction and look forward to Mind Network becoming an important piece of the bull market narrative. In the future, a decentralized AI ecosystem based on FHE could truly achieve a smart world where 'everyone can participate and data is never leaked'.