Zama, a confidentiality startup focusing on fully homomorphic encryption for blockchain, has raised $57 million in Series B funding, achieving a valuation exceeding $1 billion. This funding round, led by Pantera Capital and Blockchange Ventures, coincided with the launch of Zama's public testnet and new blockchain protocol that facilitates encrypted smart contracts and decentralized applications. Zama aims to enhance payment confidentiality on public blockchains while ensuring compliance with regulations. The startup's technology enables encrypted data processing without requiring decryption, thus maintaining transaction transparency while hiding transaction details. Zama plans to first launch on the Ethereum network, targeting expansion to other Ethereum Virtual Machine-enabled blockchains subsequently. The CEO emphasized that this technology allows for scalable global retail payment solutions without sacrificing privacy or performance, addressing a significant challenge in the blockchain ecosystem.

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