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Automata Network Launches With $1M in Funding to Help Keep Dapps Private
The seed round was jointly led by KR1, Alameda Research, IOSG Ventures, Divergence Capital and Genesis Block Ventures.
Updated Sep 14, 2021, 1:47 p.m. Published Mar 8, 2021, 4:00 p.m. 1 min read
Decentralized service protocol Automata Network has announced its official launch, backed by a $1 million investment.
- The seed funding round was co-led by various blockchain and decentralized protocol investors, including Genesis Block Ventures, IOSG Ventures and Sam Bankman-Fried's Alameda Research.
- Automata Network provides what it calls "middleware-like" services for decentralized applications (dapps), helping them maintain privacy while allowing frictionless integration onto platforms like Ethereum and Polkadot.
- The protocol harnesses a cryptographic scheme called "oblivious RAM" to conceal data access patterns, while its privacy relayer will offer functionalities such as tamper-proof data sourcing and anonymous voting.
- Automata will attempt to "capture an immediate market demand for privacy-preserving DeFi applications without having to rewrite them," according to IOSG partner Xinshu Dong.
See also: SecretSwap Is the Secret Network’s Answer to DeFi Privacy
Higit pang Para sa Iyo
Andrew Gault, the venture capitalist who funded the quantum hardware labs now threatening bitcoin, says the industry is looking in the wrong place. Google's own security team moved in the same direction in March.
Ano ang dapat malaman:
- Security experts warn that the most urgent quantum threat to bitcoin and the broader financial system is not wallet keys but the encrypted authentication data already moving between institutions and being quietly harvested today.
- Adversaries are pursuing a “harvest now, decrypt later” strategy, stockpiling encrypted interbank messages, payment records and...
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