The startup operates a decentralized platform that utilizes identity-based encryption, witness encryption, and fully homomorphic encryption (FHE) to enable pre-execution privacy and conditional decryption of transactions. This technology allows users to encrypt their transactions with specific conditions for decryption and execution, ensuring secure and controlled data access.
Funding
$2.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GVFounders
Product
Problem
Web3 applications often lack adequate confidentiality, exposing sensitive transaction data and user information to malicious actors and front-running attacks. Existing privacy solutions often require users to migrate to new platforms, fragmenting liquidity and creating usability challenges.
Solution
Fairblock provides a dynamic confidentiality network that enables pre-execution privacy and conditional decryption of transactions within existing decentralized applications. By leveraging threshold identity-based encryption (tIBE) and other multi-party computation (MPC) schemes, Fairblock allows developers to integrate encryption directly into their applications, protecting sensitive data until predetermined on-chain conditions are met. The Fairblock network, called FairyRing, generates threshold encryption and decryption keys, enabling applications to process encrypted transactions natively and expand the design space for confidential DeFi, AI, and gaming applications.
Target Audience
Primary users are Web3 developers building DeFi, NFT, gaming, and AI applications who require confidentiality solutions to protect user data and prevent malicious exploitation.
Features
- Dynamic confidential computing powered by MPC and customizable cryptography
- Threshold IBE for pre-execution mempool privacy and information access control
- Support for threshold FHE (CKKS) and SPDZ for computation over encrypted data
- FairyRing, a decentralized key generation chain, to generate decryption keys
- FairyKit, a module that enables confidential computing for applications within the Fairblock ecosystem or across external chains
- Integration with Arbitrum Stylus for WASM runtime support and efficient cryptographic processing
- Compatibility with major L1 and L2 blockchains, including Ethereum, Cosmos, and Solana
- Support for programmable decryption conditions, such as block height, asset price, or smart contract calls