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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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UK startup Optalysys launches blockchain servers using fully homomorphic encryption technology.
Gate News bot news, the British startup Optalysys, focused on secure computing, has launched what is claimed to be the world's first blockchain server capable of processing data on a large scale without the need for decryption.
The company's LightLocker node is a server that uses fully homomorphic encryption (FHE), a mathematical technique that allows computations to be carried out on encrypted data without compromising the encryption.
Last year, several companies raised funds to explore the application of FHE in the cryptocurrency field. Optalysys stated that its server hardware is specifically designed for blockchain encryption, providing a more cost-effective alternative to expensive and inefficient GPU systems, with energy consumption reduced by 40%.
Optalysys is headquartered in Leeds, UK, and was founded in 2013 by CEO Dr. Nick New and CTO Robert Todd. The company completed its Series A funding round of £21 million ($28 million) in July 2023.
Source: CoinDesk