Injective

DeFi

Arthur

Apple

The Nillion network has secured $25 million in a new funding round to support its decentralized privacy platform, which offers an optional blockchain component. This marks the network’s second fundraising round this year, following a previous round in February.
Hack VC led the Oct. 30 round, which was further supported by venture capitalists, including Distributed Global and Hashkey, as well as key opinion leaders such as Ansem, Arthur Hayes and Meltem Demirors and industry leaders from Worldcoin, Injective and Sei. Nillion has now raised more than $50 million in total.
<h2 id="the-world-s-first-offchain-blind-computer">The world’s first offchain Blind Computer</h2>
Nillion claims to have built the world’s first Blind Computer. There are over 40 builders in the ecosystem, which is hosted on Cosmos. They include developers from Near, Aptos, Arbitrum, Mantle, IO.net and Ritual, among others AI agents, data marketplaces, private DeFi and healthcare analysts.
According to a statement shared with Cointelegraph, Nillion clients seek private data storage and computation in the form of quantum secure messaging, encrypted trading platforms and similar solutions. Nillion said in its statement:
<blockquote>
 “Nillion was founded three years ago to build a future where high-value data can be secured through decentralization and privacy-enhancing technologies (PETs) such as secure multi-party computation (MPC) and homomorphic encryption.”&nbsp;
</blockquote>
Related:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/traumatic-apple-id-hack-shows-pitfalls-centralized-identity" rel="noopener noreferrer nofollow" target="null" text="null" title="null">My traumatic Apple ID hack showed pitfalls of centralized identity</a>
<h2 id="no-blockchain-no-problem">No blockchain? No problem</h2>
Nillion co-founder Lukas Bruell explained in a video&nbsp;<a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=_-vjoEpLyIk&amp;t=32s" rel="noopener noreferrer nofollow" target="null" text="null" title="null">posted</a>&nbsp;to Near Protocol’s YouTube channel on Oct. 10, “Whenever you run a computation the data is actually fully exposed,” until Nillion created a “private cloud environment.”
Using Nillion, a decentralized network of nodes can process the encrypted information without seeing the underlying data and generate output.
<figure><img alt="Privacy" src="https://s3.cointelegraph.com/uploads/2024-10/0192da30-0f60-791e-bdd5-46912b351f3b" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/nillionnetwork/status/1797636643102560348" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://x.com/nillionnetwork/status/1797636643102560348">Nillion</a>
 </figcaption>
</figure>
Furthermore, Nillion CEO Alex Page&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/successful-decentralization-doesn-t-need-blockchains-nillion-ceo" rel="noopener noreferrer nofollow" target="null" text="null" title="null">told Cointelegraph in December</a>&nbsp;2022 that its Nil Message Compute&nbsp;technology will&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/successful-decentralization-doesn-t-need-blockchains-nillion-ceo" rel="noopener noreferrer nofollow" target="null" text="null" title="null">work without a blockchain</a>&nbsp;as well. Other products it offers include the Nada AI developer toolkit.
Nillion&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sandeep-nailwal-backed-web3-accelerator-launches-demo-day-for-first-cohort" rel="noopener noreferrer nofollow" target="null" text="null" title="null">graduated with 12 other</a>&nbsp;companies from Web3 accelerator Beacon’s “Cohort 0” in January 2023. In August 2024, it&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/aptos-network-integrates-nillion-privacy-preserving-apps" rel="noopener noreferrer nofollow" target="null" text="null" title="null">integrated with the Aptos</a>&nbsp;network.
Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/worldcoin-fined-dmm-bitcoin-system-face-ban-asia-express/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Worldcoin fined again! Crypto store clerk runs off with $500K cash: Asia Express</a>
&nbsp;

Nillion network raises $25M for decentralized privacy solutions

Table of Contents

Cointelegraph

Other articles published on Oct 30, 2024

Chainlink and Major Market Players Launch AI-Powered Initiative to Tackle Unstructured Data in Fi...

Paxos CEO Urges Kamala Harris and Donald Trump to Prioritize Stablecoin Regulation

Binance Launches “Binance Wealth” for High-Net-Worth Clients and Wealth Managers

MrBeast’s $23M crypto insider scam allegations

GoldenCat Teams Up with Gate in an Exciting Vote Campaign: Let's Aim for the Top!

Is PEPE Price Ready to Skyrocket? Key Support Holds for Major Move!

Join our free newsletter for daily crypto updates!