Mind Network has successfully launched the first Fully Homomorphic Encryption (FHE) interface built on top of Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This testnet launch across Ethereum Sepolia, Arbitrum Sepolia, and Polygon Amoy is intended to demonstrate Mind Network’s privacy technology to financial institutions and other regulated intermediaries in the capital markets space. Mind Network’s FHE interface has achieved 650k+ active users and 3.2M+ transactions processed on its testnet.
Leveraging its cutting-edge encryption technologies, including FHE validation and the MindSAP protocol, Mind Network is integrating Chainlink CCIP to usher in a new era of cross-chain security for institutions.
Integrating CCIP and Pioneering Transactions Powered By Fully Homomorphic Encryption
Mind Network uses FHE to fortify cross-chain activity, thereby lowering security concerns and unleashing the value-flow of tokenized assets for web3 investors and financial institutions such as banks, exchange networks, and asset management firms.
By building this layer on top of Chainlink CCIP, Mind Network is not only bolstering the security of cross-chain communications and transactions, but also enabling a more trustworthy and user-centric Web3 ecosystem. Mind Network’s solutions bring quantum resistance to Web3, also ensuring it will remain secure years into the future as quantum computing scales.
Mind Network chose CCIP as its preferred cross-chain solution because it offers a foundational set of mission-critical features, such as:
- Time-tested security and reliability—CCIP’s consensus and messaging layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $10.5 trillion in onchain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and Smart Execution.
- Seamless integration—CCIP offers a unified cross-chain developer experience by providing a single, easy-to-integrate interface. Developers only need to integrate the CCIP Router onchain to start building secure cross-chain applications.
- Scalable architecture—CCIP eliminates the need for developers to write custom code for chain-specific integrations, while users can interact with any blockchain via a single interface.
- Future-proof—CCIP is built to support continuous updates, such as the integration of new blockchains, the introduction of advanced functionalities, and the addition of other defense-in-depth approaches to security. Thus, integrating with CCIP eliminates future switching costs should new cross-chain functionalities be needed.
“Chainlink Labs is excited to see Mind Network build on top of CCIP. Their fully homomorphic encryption layer can provide institutional users with advanced security solutions for cross-chain interoperability and staking, and fairness for proof-of-stake consensus networks.” – Sam Friedman, Principal Solutions Architect, Chainlink
Establishing a Strategic Alliance With Chainlink Labs
In addition to building a layer of enhanced Web3 data privacy for institutions on top of CCIP to help create a CrossFi ecosystem, Mind Network has also entered into a strategic alliance with Chainlink Labs, developers of the industry-standard decentralized computing platform, Chainlink. This collaboration will help support Web3 developers working with Mind Network technology by supporting them in enhancing their dApps with Chainlink’s mission-critical services.
“We’re extremely excited to officially announce this collaboration with Chainlink Labs and integration of Chainlink CCIP. Built on top of Chainlink’s decentralized computing platform, CCIP creates the ability to transmit data and its value securely and reliably between different blockchain networks. The implications are massive. In a world with CCIP, every bank, company, or app can have their own blockchain without the concern of siloing their data (and its value) or the fear of limited or null interoperability with other chains.” — Christian Pusateri, Co-founder, Mind Network
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About Mind Network
Mind Network is the first FHE Restaking Layer for AI Networks. Their framework operates as an FHE validation network, bringing secure computation and consensus to Decentralized AI, FHE Bridge, EigenLayer AVS, Bittensor Subnet, and many critical POS networks. Mind Network’s solution enables verifiable decentralized computation over encrypted data. It has achieved 650k+ active users and 3.2M+ transactions processed on its testnet. Mind Network is backed by Binance Labs, Hashkey, and Big Brain, is a member of the Chainlink BUILD program, and received an Ethereum Foundation Grant for their FHE research on Ethereum.
For more insights and updates on Mind Network’s innovations, visit their website and socials:
Website | Twitter | Medium | YouTube | Github | Gitbook | Discord | Telegram
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
