Fhenix successfully raised $7 million in a seed round to develop the first Fully Homomorphic Encryption-based blockchain, addressing crucial issues of data privacy and fairness in the blockchain industry.

Target Information

Fhenix is pioneering the development of the first Fully Homomorphic Encryption (FHE) blockchain, known as fhEVM, aimed at providing end-to-end encryption for public blockchain transactions. The platform promises transformative changes in the way data confidentiality and security are managed within blockchain networks, utilizing advanced cryptographic techniques to ensure that even the nodes involved in transaction execution cannot access user data.

This innovative approach marks a significant leap from traditional blockchain technologies, which often expose transaction details to miners and other network participants. By leveraging FHE, Fhenix seeks to maintain complete confidentiality and eliminate Miner Extractable Value (MEV), addressing a critical flaw in current blockchain systems.

Industry Overview

In Israel, Fhenix is situated at the forefront of a burgeoning cryptographic landscape that blends advanced technology with a rich pool of local talent. With a robust history of innovation and expertise, Israel has produced some of the leading figures in cryp