As a seasoned researcher who has witnessed the evolution of blockchain technology and privacy solutions over the past decade, I am genuinely intrigued by the Nillion network. The recent $25 million funding round, their second this year, is a testament to the growing interest in decentralized privacy platforms with optional blockchain components.
The Nillion network has secured $25 million in a new funding round to support its decentralized privacy platform, which offers an optional blockchain component. This marks the network’s second fundraising round this year, following a previous round in February.
On October 30th, Hack Venture Capital spearheaded the funding round, with additional backing from venture capital firms like Distributed Global and Hashkey, as well as influential figures such as Ansem, Arthur Hayes, Meltem Demirors, and industry leaders from Worldcoin, Injective, and Sei. Notably, this latest round has brought Nillion’s total funds raised to over $50 million.
The world’s first offchain Blind Computer
Nillion asserts it has constructed the globe’s inaugural Computer Designed for the Blind. This network boasts approximately 40 developers, situated within a Cosmos-based ecosystem. Contributors hail from Near, Aptos, Arbitrum, Mantle, IO.net, and Ritual, along with AI agents, data marketplaces, private DeFi analysts, and healthcare specialists.
As per information from CryptoMoon, numerous Nillion clients express interest in secure, quantum-encrypted services such as private data storage, confidential messaging, encrypted trading platforms, and related solutions. This is what Nillion stated in their official communication.
“Nillion was founded three years ago to build a future where high-value data can be secured through decentralization and privacy-enhancing technologies (PETs) such as secure multi-party computation (MPC) and homomorphic encryption.”
No blockchain? No problem
In a video shared on Near Protocol’s YouTube channel on October 10th, Lukas Bruell, one of Nillion’s co-founders, stated that when a computation is performed, the data remains openly accessible. However, with the advent of Nillion, they have developed a “secure computing environment,” keeping the data private during computations.
With Nillion, a network made up of multiple nodes can handle encrypted data without revealing its original content, instead producing an outcome.
Additionally, Alex Page, CEO of Nillion, shared with CryptoMoon in December 2022 that their Nil Message Compute technology can operate independently of a blockchain. Among its offerings, they also provide the Nada AI developer toolkit.
In January 2023, Nillion was among 12 other companies that graduated from the inaugural cohort (Cohort 0) of Web3 accelerator Beacon. Later in August 2024, it connected with the Aptos network.
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2024-10-30 16:02