Crypto VCs Crown New Unicorn as Confidentiality Startup Zama Raises $57M at $1 Billion Valuation

Come on, startup cryptography with an open code with the aim of bringing complete privacy to public blockchains, raised $ 57 million in the Financing of the series B, led by Pantera Capital and Blockchange Ventures. The district is pushing Zama’s estimate of more than $ 1 billion, making it the first company that works in an advanced encryption to hit a unicorn status.

Founded in 2020, it dares to publicly publish privacy blockchains without endangering transparency or audit. The most recent funding comes with the launch of its public testnet “confidential” blockchain protocol, which enables developers to build encrypted smart contracts and decentralized applications.

“We are focused on financial applications, especially payments,” said executive director, Director of Rand Hindi Decipheses. “It is clear from all our conversations to the IS publishers of Stabiblecoin and people who use Stablecoine that they want to be confidential in a chain payment.”

While encryption is at the center of the blockchain industry, homomorphic encryption Allows users to encrypt data that can then be processed without decryption, allowing the Crypto Currency Issue, stabilcoinior payments on public blockchaini without discovering details about the transaction world.

Fully homomorphic encryption, or FHE, “allows you to re -complicate the condition using encrypted data,” Hindi explained. “This means you have the same level of public verification, but without the need for seeing real data, making [it] Effectively the only confidentiality technology that is safe and publicly verifiable. “

Hindi said that they would be close first to launch on Ethereum Net in July before moving to other blockchains with a virtual machine.

“We have chosen Ethereum because it is a canonical chain in which there is a lot of stable stability. So it makes sense to first have a layer of confidentiality,” he said. “The transition from Ethereum to others Evm The chains will happen pretty quickly because it’s the same beam. “

As regards SaltworksHindi said that near the integration of 2026, using a double approach.

“First, we have to adjust our SVM technology to revise it, what it takes time,” Hindi said. “Secondly, the expectation of Solana developers in connection with performance is that they can do hundreds, if not thousands of transactions per second. Once we are able to support the salt speed, we will launch there.”

Unlike controversial tools for privacy like Mixers of coinsThe target of governments and the implementation of the law, Hindi said that the zamine approach focused on encrypted content, maintaining the transaction itself.

“WITH Tornado cashMake a transaction unnoticed, but the content is public, “he said.” Fhe, on the other hand, hides the data on the chain, not a trace of transaction. You can see who has communicated with whom, but you cannot see their balance, amounts, etc.

The key feature in the protocol, Hindi explained, is what the momentum calls “programming confidence”, which gives developers control over the one who can decipher the chain information within a smart contract.

“For example, Stablecoin issuer could allow the user to see his own balance, but also a compliance officer,” Hindi said. “The nearby protocol is basically not imposed – it is completely on the developer to decide which compliance rules want to follow.”

This level of surgery, Hindi said, is the last part needed for a wide acceptance of blockchain technology.

“The question used to be performance, but Solana and Slower-2 networks solved it. Now that the confidentiality has been solved, it means that we can start building all financial applications on the coast, without worrying about speed or privacy-which it is necessary if you want to adjust things like global payments,” he said.

After years of working in cryptography, Hindi said that the blur of a unicorn status was felt late.

“Honestly, it’s great to see incredible investors and builders who are now taking care of confidentiality. It’s a battle I have struggled with for more than a decade,” he said.

Edited Andrew Hayward