In today's rapidly developing blockchain and artificial intelligence landscape, data privacy and security have become core challenges. Traditional encryption methods often require decryption during data computation, leading to security vulnerabilities. Mind Network aims to build a more secure and private Web3 internet through Fully Homomorphic Encryption (FHE) technology. What is Fully Homomorphic Encryption (FHE)? Encryption is the process of converting data into code to prevent unauthorized access. Traditional encryption requires decryption for computing, which can expose data during the process. FHE allows for any computation to be performed directly on encrypted data (ciphertext) without decryption, ensuring that data remains encrypted throughout its entire lifecycle of transmission, storage, and processing. The theoretical foundation of FHE dates back to 1978, but it only became practical in recent years after Craig Gentry proved its feasibility in 2009, thanks to advancements in algorithms and hardware. The value FHE brings to Web3 and AI: Web3 emphasizes decentralization, transparency, and user control, but also introduces new challenges in data privacy. FHE addresses these issues in the following ways: Privacy-preserving smart contracts: In applications such as decentralized finance (DeFi), smart contracts can be executed without exposing data.
Secure voting: Decentralized governance systems can facilitate private voting, ensuring individual choices are not made public while still allowing accurate result tallying.
Confidential transactions: Cross-chain transfers and other transactions can remain private, protecting user identities and transaction details.
For AI, FHE is especially important. Training machine learning models often requires access to raw data, which can infringe on privacy. FHE allows for models to be trained on encrypted data, enabling organizations to collaborate on AI projects without disclosing sensitive information. Mind Network's mission and vision: Mind Network is the first infrastructure project to apply FHE to Web3, aiming to create a 'zero-trust internet' that ensures data remains encrypted throughout its lifecycle. The HTTPZ protocol they developed is an extension of HTTPS, ensuring that data also remains encrypted during processing. Key products of Mind Network include: AgenticWorld: An AI agent secure interaction platform where all communications and computations are encrypted via FHE.
MindChain: A blockchain designed for secure AI agent interactions, ensuring the privacy of on-chain data and computations.
FHEBridge: A solution for confidential cross-chain transfers, allowing assets to move between blockchains without exposing sensitive information.
These tools not only enhance security but also open up new application scenarios that were previously unattainable due to privacy constraints. Industry support and future outlook: Mind Network has raised over $12.5 million in funding, with investors including Binance Labs, HashKey Capital, Animoca Brands, and Chainlink, and has received grants from the Ethereum Foundation. Partnerships with industry leaders such as Zama further solidify its position in the FHE innovation field. As quantum computing approaches, traditional encryption methods may become obsolete, making FHE particularly important as a quantum-resistant solution. The work of Mind Network is expected to revolutionize privacy protection in Web3 and AI, paving the way for applications such as private DeFi, secure AI training, and decentralized governance.
Project positioning: Privacy computing infrastructure based on FHE (Fully Homomorphic Encryption) technology, the first "HTTPZ Zero Trust Internet Protocol" Token symbol: $FHE | Current price: $0.0749 | Market cap: $16.6M | FDV: $74.9M Investment rating: 🟡 Medium risk - Technological innovation is leading, but regulatory uncertainty is high.
B2B services: FHE verification, cross-chain bridge, SDK licensing fees.
Token economy: $FHE used for gas fees, governance voting, AI-Agent staking incentives.
June 2023: Seed round $2.5M (Binance Labs, SevenX, HashKey, etc.)
September 2024: Pre-A Round $10M (Animoca, Cogitent, ArkStream, etc.)
Total funding amount: $12.5M, reasonable valuation multiple 6×.
Technological leadership: First-mover advantage in the FHE space, relatively complete product matrix.
Institutional endorsement: Support from top-tier institutions such as Binance Labs, Animoca, etc.
Supply advantage: Team locked for 8 months, limited short-term selling pressure.
Ecosystem activity: 2.2 million wallet users, actual product implementation.