Summary
TLDR: Fully homomorphic encryption (FHE) allows for processing encrypted data without decryption, enhancing data security and privacy in sectors like Web3. FHE enables new use cases in blockchain, unlike zero-knowledge (zk) technology. Fairblock is developing a decentralized system for managing FHE decryption keys to make the technology more accessible. Developers have multiple privacy solutions to choose from, each with different trade-offs. Fairblock aims to facilitate and accelerate other builders in the blockchain space.
Key Points
1. Fully homomorphic encryption (FHE) allows for processing encrypted data without decryption, enhancing data security and privacy, and enabling secure data analysis and decentralized services.
2. FHE technology in blockchain allows developers and users to control which assets they want to keep private on-chain, opening up new use cases such as on-chain gaming, voting, and auctions.
3. FHE technology differs from zero-knowledge (zk) technology in that it can perform computation on encrypted data without revealing or knowing the data points, providing a higher level of data security and supporting a wider range of use cases.