Blockchain Privacy Firm Integritee Raises $2M Ahead of Kusama Parachain Auction

By June 17, 2021Polkadot
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Integritee, a supplier of confidential computing tailor-made to the blockchain house that’s vying for a parachain slot within the forthcoming Kusama community auctions, has raised $2 million seed funding.

The fundraising was led by funding agency LD Capital, and included AU21, DFG, FBG and OKEx Blockdream Ventures.

Bidding for parachain slots throughout the Polkadot ecosystem is simply getting underway, with the first auctions beginning this week for Kusama, a extra experimental and easier-to-upgrade community than Polkadot, the extra enterprise-focused massive brother.

Switzerland-based Integritee’s $2 million seed spherical is to fund additional growth of the platform, co-founder Alain Brenzikofer mentioned, slightly than used for locking up tokens on Kusama as a part of a crowdloan strategy (a way for token holders to lend their DOT or KSM as collateral for the parachain lease in return for rewards).

“We is not going to be attempting to win one of many first only a few slots,” Brenzikofer mentioned in an interview. “We’re planning on doing a decentralized crowdloan and can quickly publish our tokenomics and incentives. Backside line is we are going to take part in each the Kusama and Polkadot slot auctions with a crowdloan, and we’re fairly assured to get in in a while.”

Integritee combines blockchain with hardware-based trusted execution (TE) environments, on this case Intel SGX, to resolve for confidentiality of knowledge and scalability.

TE on Polkadot brings a clear layer of public auditability to the method of distant attestation, a approach of checking that some machine is operating Intel SGX. Intel does this just for authorized entities which have a manufacturing license with them.

By way of scaling an already capacious Polkadot ecosystem, the ensures of SGX enable for TE-validated sidechains, slightly than counting on complicated encryption.

This enables for the decoupling of decentralized apps inside sidechains which are validated by TE, mentioned Brenzikofer, that means a a lot lighter consensus protocol since validators are already trusted and there’s much less networking overhead.

“We imagine that TEs as commodity {hardware} are a quick solution to a big marketplace for decentralized, confidential computing,” Brenzikofer mentioned. “So, confidentiality in a way more production-ready approach than utilizing numerous cryptography that’s nonetheless very tutorial and doesn’t generalize properly. We are able to carry confidentiality to blockchains much more effectively than with tech like zero data proofs, ring signatures, multi-party computation, absolutely homomorphic encryption.”

Brenzikofer says he understands the reluctance amongst some to just accept TE. Even with public auditability, there nonetheless must be belief within the producer, which is a weak hyperlink for decentralization fundamentalists.

“I believe that if we wish to scale, we have to discover these intermediate options which are higher than what we’ve got at present, however perhaps not so good as it may possibly get,” Brenzikofer mentioned.

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