FairBlock Network, is a promising project focused on revolutionizing blockchain technology, Fairblock enables users to seamlessly encrypt their transactions with a set of conditions for decryption and execution. Let’s take a closer look at their achievements and what it means for the crypto community.
FairBlock Network’s Fundraising Rounds:
FairBlock announced the conclusion of its PRE SEED round on October 5, 2023, with $2.5 million raised from prominent funds in the market, including well-known development teams such as DoraHacks, Robot Ventures…
The PRE SEED round was led by Galileo, along with notable investors like Reverie, Lemniscap, Dialectic Capital, Robot Ventures, GSR, Chorus One, and DoraHacks.
Key Features and Benefits of FairBlock Network:
Fairblock is building the infrastructure that can enable pre-execution privacy and conditional decryption. Fairblock enables users to seamlessly encrypt their transactions with a set of conditions for decryption and execution. Developers can leverage this framework to empower their protocols with a fuzzy logic for decryption and execution of transactions without exposing the contents of on-chain data before or during execution. Fairblock uses advanced cryptography schemes such as identity-based encryption, witness encryption, and soon fully homomorphic encryption for verification of conditions and decryption of transactions in a decentralized way.
FairBlock Network’s fundraising rounds provide a unique opportunity for individuals to contribute to the development of a project that seeks to revolutionize the crypto industry. With its focus on scalability, interoperability, privacy, and security, FairBlock Network aims to address key challenges faced by existing blockchain networks. As we await further developments, it will be intriguing to see how FairBlock Network shapes the future of blockchain technology and contributes to the wider adoption of cryptocurrencies.