Fhenix FHE-Based L2 Unveils New Testnet, Nitrogen

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As a seasoned crypto investor with a knack for spotting promising projects, I’ve been closely watching Fhenix and their latest development with bated breath. Having seen my fair share of blockchain upgrades, I must say that the Nitrogen testnet update by Fhenix L2 is nothing short of impressive. The new decryption capabilities, Parallel Decryptions mechanism, and Security Zones are game-changers in the realm of confidentiality and decentralization.

Through simple terms, the Fhenix team has revealed significant enhancements in their test network with the release of version 2, named Nitrogen. This upgrade includes enhanced decryption functions and moves us a step closer to the mainnet launch, bringing the blockchain one step further towards practical application.

Upgraded Nitrogen testnet by Fhenix L2 kicks off

Phoenix, an innovative blockchain that supports Programmable Encryption (FHE), recently made significant improvements to its test network, called Nitrogen. This update enhances the decentralization level within the Phoenix network by implementing Threshold Network, a technique used for secure decryption in a trust-minimized manner.

1/ Phoenix has received a significant enhancement!

Nitrogen elevates @FhenixIO’s decentralization, moving it from nothing to something substantial, all while enhancing its security and performance. Nitrogen seamlessly integrates with @CelestiaOrg below, offering the essential components for constructing Fully Homomorphic Encryption (FHE) applications on Ethereum. ✨

— Fhenix (@FhenixIO) November 20, 2024

The new feature in the enhanced testnet, known as the Parallel Decryption mechanism, introduces another exciting technological advancement. This mechanism streamlines lengthy and computationally intensive operations that Fully Homomorphic Encryption (FHE) schemes often require, by employing simultaneous decryption in an asynchronous manner. In doing so, it delivers the swift and smooth user experience that has become customary.

Users on the Nitrogen test network can enjoy the added advantage of Security Zones, which offer a versatile method for ensuring the security of decentralized apps (dApps). This feature allows dApps to be customized according to different needs regarding both security and speed.

Nitrogen supports two Security Zones. Zone 0 is the default setting that emphasizes security and implies less trust for the user, while Zone 1 prioritizes performance over security using a single local keyset held by the sequencer to process decryption.

Guy Itzhaki, CEO of Fhenix, emphasized the critical role this upgrade plays in achieving Fhenix’s goal of launching its public mainnet.

As a crypto investor, I’m thrilled about the progress of the Nitrogen testnet, marking a significant leap in developing a decentralized, censorship-free platform that prioritizes privacy through Fully Homomorphic Encryption (FHE). The addition of the Threshold Network, coupled with innovative features like Parallel Decryptions and Security Zones, empowers developers to construct robust confidential applications on Ethereum. This development brings us one step nearer to the anticipated launch of the Fhenix mainnet, which promises even more exciting opportunities in the realm of blockchain technology.

Previously reported by U.Today, Fhenix successfully raised a funding round of $15 million in June 2024, with the lead investment coming from esteemed venture capital firm Hack VC.

Fhenix testnet harnesses Celestia (TIA) as DA layer

1) In the new Fhenix test network, they’ve incorporated Celestia for data accessibility which helps lower transaction fees and boosts price consistency. Simultaneously, Nitrogen now provides an easy-to-use function that autonomously generates random numbers without any additional requirements.

As an analyst, I’ve been utilizing the foundational layer of Celestia (TIA) since the fourth quarter of 2024 to ensure data accessibility within the Fhenix ecosystem, as U.Today had earlier reported.

Nitrogen marks a substantial advancement in the journey towards a distributed platform that ensures on-chain privacy, offering considerable enhancements to network security, efficiency, cost, and user experience. The test network for Nitrogen demonstrates significant progress in decentralization, paving the way for a vibrant ecosystem of applications that utilize confidentiality features on Ethereum.

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2024-11-21 13:34