Optalysys, a U.K.-based startup focused on secure computing, has introduced what it claims to be the world’s first server for blockchains that can process data at scale without decrypting it.
The firm’s LightLocker node is a server that uses Fully Homomorphic Encryption (FHE), a mathematical technique allowing computations to be performed on encrypted data without compromising the encryption.
The last year has seen a couple of firms raising money and exploring applications of FHE within the cryptocurrency space. Optalysys says its server hardware is purpose-built for blockchain encryption, and offers a cheaper alternative to costly and inefficient GPU-based systems, using 40% less energy.
Based in Leeds, England, Optalysys was founded in 2013 by Dr. Nick New (CEO) and Robert Todd (CTO). The firm raised a 21 million pound ($28 million) Series A in July 2023.
“For blockchain technologies to be adopted at scale, infrastructure that supports confidential computing is essential,” said CEO New in a statement.
“Traditional hardware solutions for encrypted blockchain are costly and inefficient. General-use chips are also not designed for the specific requirements of encrypted transaction processing,” New added.