Gate News bot news, focusing on fully homomorphic encryption (FHE) open source encryption company Zama announced the completion of a $57 million Series B financing, led by Blockchange Ventures and Pantera Capital. This round of financing brings Zama’s total funding to over $150 million, with the company’s valuation exceeding $1 billion, making it the world’s first FHE unicorn.
This funding will be used to support the release of the mainnet, promote ecosystem adoption, and research how to expand financial applications that can handle thousands of transactions per second. Zama’s technology is capable of implementing secure smart contracts and encryption operations on public chains while protecting privacy without compromising scalability. The upcoming secure blockchain protocol (SBC) will support the development of privacy-preserving decentralized applications and will support Ethereum and Solana compatible chains.
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