Confidential computing might become the next big thing in blockchain technology, potentially unlocking up to $1 trillion in new capital for the cryptocurrency market.
Advancements in privacy technologies, such as fully homomorphic encryption (FHE), are seen as key to attracting substantial new investment into crypto. Remi Gai, the founder of Inco, believes that these innovations could be crucial for bringing in the next trillion dollars.
Speaking at the FHE Summit 2024, Gai explained:
“There’s a huge opportunity to unlock more value because what we’re building will help creators develop new applications. By enhancing confidentiality, we’re expanding what’s possible in Web3. Many Web2 applications can’t operate in Web3 because they lack this level of privacy.”
Gai’s company, Inco, is focused on creating solutions based on FHE, aiming to add a new layer of confidential computing to blockchain technology.
Summary Review: Confidential computing and advancements like fully homomorphic encryption (FHE) are poised to significantly impact the cryptocurrency market. These technologies could unlock up to $1 trillion in new investment by enhancing privacy and enabling more complex applications in the Web3 space. As these innovations develop, they may play a crucial role in bridging the gap between current Web2 applications and the evolving needs of Web3, potentially transforming the landscape of the crypto ecosystem.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
