In 2024, the technology industry will focus on investing in AI, as will the crypto industry. At the beginning of the bull market, we saw the outbreak of $WLD $RNDR $TAO, followed by the linkage of AI and DePin sectors. Although the current increase has retreated, it cannot be denied that AI is one of the key tracks that must be paid attention to in 2024.
The AI+DePIN network on the Solana chain has created a new model that emphasizes humanity and integrates into the Web3 world. Even Vitalik Buterin has recognized the team behind Privasea and is now studying its model in more depth. It is a star project!
I have introduced this project to you before, and in this issue, Lao Chen will take you to have a deeper understanding!
Privasea Project Introduction
Privasea is an AI + DePIN network enabled by FHEML. Privasea integrates FHEML technology into the distributed computing power crowdfunding network, and combines it with the self-developed DePIN mining machine to build a FHE (homomorphic encryption) computing power network that supports all L1 and L2. While providing scalable computing resources for AI tasks, it effectively reduces the risks of centralized data processing. In addition, Privasea plans to integrate its artificial intelligence network with the distributed storage chain BNB Greenfield, enabling users to store data in a distributed manner and enjoy greater flexibility and control.
What problem does Privasea solve?
1. Solved the core problems of inconsistent, opaque and insecure data information, solved information asymmetry, ensured data consistency, solved user data blind spots, information asymmetry and other problems
2. Provide developers with safe and fast tools. Through Privasea's API, developers can easily access this complex system and use its powerful functions to develop and deploy their own AI applications. These applications can use distributed networks to distribute computing loads while ensuring data integrity and security.
Privasea Project Advantages
1. Well-known exchanges such as Binance, OKX, and Gateio participated in the investment, and the current financing is considered very luxurious.
2. Hitting the AI+DePIN hot narrative (in the first half of 2024, the return rates of AI and DePIN were 71.6% and 58.7% respectively, ranking very high, second only to Meme and RWA)
3. Use FHE fully homomorphic encryption, an important encryption technology comparable to ZK
4. A brain + a computer + a USB can mine
5. Purchase nodes + NFT, eat multiple fishes, mining income, pledge multiples, and future airdrops
One of Privasea's core technologies is Fully Homomorphic Encryption (FHE), which is considered a gem in cryptography and even considered by many to be the ultimate solution.
Privasea Project Highlights
►The first AI+DePIN network using FHE
(1) Privasea uses FHE technology to provide data privacy and security, and uses AI and distributed network architecture to allow complex data processing and analysis while keeping the data fully encrypted. This means that users can perform machine learning and other advanced computing without exposing the original data, which is impossible in traditional cloud computing and subverts privacy computing.
(2) The Privasea platform adopts several advanced FHE schemes, such as TFHE and CKKS, which provide high data privacy protection while ensuring computational accuracy and efficiency.
(3) The TFHE scheme supports fast bit operations within a single instruction cycle, while the CKKS scheme optimizes the ability to process floating-point numbers, allowing Privasea to effectively support a variety of complex scientific research and commercial applications, such as financial analysis, medical data processing, and machine learning tasks.
(4) In the Privasea AI network, three different roles play a vital role in ensuring the smooth operation and interoperability of the ecosystem: data owners, Privanetix nodes, decryptors, and result receivers.
► Collaboration with Solana highlights the potential of Mass Adoption
Privasea pioneered the launch of the ImHuman application using FHE technology, which not only reflects the application of FHE in anti-sybil attacks, but also marks its mass adoption potential in the encryption field. Sybil attacks are a major threat in decentralized networks, especially in the field of airdrops!
Privasea plans to deploy its technology to the Solana network and become the first Proof of Human application on Solana. Solana's high performance and low latency make it an ideal blockchain platform to support Privasea's FHE technology and AI computing needs. This deployment will not only enhance the security of the Solana ecosystem, but also demonstrate the potential of FHE in Web3 applications.
By running on Solana, Privasea’s ImHuman application is able to more broadly verify user identities, ensuring the security and reliability of the network while protecting user privacy.
team
David Jia：
David Jiao is the founder and CEO of Privasea. Previously, he was the co-founder and CEO of NuLink and a system designer at Volvo Car Group.
Zhuan Cheng:
Zhuan Cheng is the co-founder and CTO of Privasea, CTO of NuLink, and previously the CTO of MAP Protocol.
Privasea Project Financing
Privasea has completed two rounds of financing:
On March 4, Privasea announced the completion of a $5 million seed round of financing. Early investors include Binance Labs, MH Ventures, K300, Gate Labs, 1NVST, Zephyrus Capital, etc.
On April 3, Privasea announced the completion of a strategic private equity financing, with participating investors including OKX Ventures, Laser Digital controlled by Nomura Group, and Tanelabs, an incubator invested by SoftBank.
PrivaseaSummary
Privasea, led by Binance and EURUSD, spans two popular tracks, AI+DEPIN. Traditional institutions also participated in the second round of financing. These institutions have a lot of money and a wide range of industries, which will be conducive to the large-scale implementation of Privasea applications!
Benchmarking IO.NET, the total amount is also 1 billion, IO also started with 1 billion, and it was reduced to 800 million. If it goes online, the market value of 200 million will definitely be no problem. The initial circulation is 10%, and the circulation of 100 million is unlikely to reach 10%.
By this calculation, there is no problem in opening at 2U (5 times the return). The market value of the DEPIN track and the AI track is seriously underestimated. If it rises, it is possible to reach a market value of 500 million (10 times the return) or 1 billion (20 times the return)!
