Mind Network

The company is developing a Zero-Trust layer for Web3, utilizing Fully Homomorphic Encryption (FHE) to enable computation on encrypted data without needing to decrypt it. This core technology, which they are advancing to create a new protocol dubbed "HTTPZ," aims to provide end-to-end encryption for the entire data lifecycle—during transmission, storage, and computation. Mind Network's infrastructure is designed as a restaking layer to bring secure computation and consensus to various networks, including Proof-of-Stake (PoS) chains, AI networks, and Decentralized Physical Infrastructure Networks (DePIN). The business model revolves around providing this FHE validation network as a service, allowing other platforms to ensure the security of their operations and the privacy of their user data. Clients include decentralized applications, AI projects, and enterprises handling sensitive information.

The company's product suite includes Mind Lake, a decentralized data lake with an SDK for end-to-end data encryption, and MindV, a voting solution based on FHE for secure network governance. The native token, $FHE, facilitates the ecosystem by paying for secure computations, activating AI agents, and enabling governance participation. Since its inception, Mind Network has secured a total of $12.5 million in funding over two seed rounds. The first round in June 2023 raised $2.5 million with participation from Binance Labs, HashKey Capital, and SevenX Ventures. A subsequent round in September 2024 brought in an additional $10 million, led by investors like Animoca Brands and Moonhill Capital. The firm was also part of Binance Labs' Incubation Program and the Chainlink BUILD Program, and has received two research grants from the Ethereum Foundation for its work on FHE. Keywords: Fully Homomorphic Encryption, FHE, Web3 security, Zero-Trust layer, data privacy, decentralized AI, restaking layer, PoS networks, DePIN security, encrypted computation, data lake, blockchain security, consensus security, HTTPZ, Mind Lake, Christian Pusateri, George Shao, Mason Song, Binance Labs, Animoca Brands, Chainlink BUILD