This week we got the privilege to talk to Christian and Ashely, both pivotal members of the Mind Network team, who are building FHE solutions for the next generation of blockchain technologies.
We covered a range of topics in this great interview, read on for the details.
Introduction? 1 minute 30 seconds →
Dennis, one of the co-founders of Mind Network was on the team who first hacked a Tesla, and met Elon for his efforts. His co-founders Mason and George hold PhDs in computer science/cryptography.
Data links were one of the first use cases that the Mind Network team came up with. One way to think about this is that it’s an “FHE oracle” that sends offchain data onchain while encrypted.
Vitalik Buterin has stated that privacy is a huge problem that Ethereum still faces, and Mind Network rose to the challenge and using FHE pioneered a way to mask token types and volume between wallets during regular transfers. This led to Mind Network receiving an Ethereum Fellowship.
Key Management 8 minutes 5 seconds →
Key management is at the core of the stealth-sending solution that Mind Network has built and is based on having one private key and one global FHE key.
All of the key management has been abstracted away to make this sending process as simple as possible.
Flow of Stealth Sending Protocol 11 minutes 40 seconds →
Simply put, user 1 sends to user 2 but sends to a stealth address in between which generates the key pair. Then user 2 uses the key to decrypt the private key of the stealth address and can claim the stealth address, accepting the sent funds.
Use Cases of Stealth Addresses 17 minutes 50 seconds →
Chainlink CCIP Bridge was the first partnership. They were able to come away with a very valuable insight: from a regulatory perspective, ZK is not compliant, as it trusts a central prover to see all the data in an unencrypted state. FHE however is encrypted, but verifiable.
MEV is a big problem in blockchain and with the ability to send messages in an encrypted state, the risk of being front-run disappears.
Bridges are a huge weak point in crypto infrastructure and Mind Network is working with some of the foremost bridge companies to solve these issues.
Mind Lake 22 minutes 10 seconds →
First was used by CCIP by Chainlink. Simply FHE storage solution for sensitive data.
Mind Lake is limited by issues with decentralized storage.
There is an SDK for the Mind Lake that lets smart contracts interact with the data stored there.
Mind Layer 31 minutes 20 seconds →
FHE re-staking roll-up. This works by encrypting messages sent by nodes in a network, which increases decentralization and improves security. Functionally, encrypting the messages makes it so that validators will not copy each other’s work.
Back in 2023, Mind Network built a solution such that users of Chat-GPT could encrypt their prompts to not leak sensitive data stored in their prompts.
Proof of Intelligence: this is a far better metric for AI where the results are allowed to be more granular.
Hope to become a smaller Eigenlayer through their re-staked ETH token for AI builders given the PMF of FHE with securing AI.
Limitations 41 minutes 10 seconds →
Hardware is the largest limiter as it regulates the speed at which we can FHE. This will be solved in the coming years.
LLMs run on FHE are still out of reach because of this speed constraint. There is a huge demand for this as OpenAI faces lawsuits over where it sourced the data its models were trained on.
Future of Mind Network 48 minutes 5 seconds →
Go-To-Market is all about getting partners for existing products and getting ETH security from leading re-staking projects.
Big partnerships with AI x Crypto companies.
Decentralized CPUs/GPUs.
Join the Mind Network testnet (3m tnxs, and 700k users) here.
As we explored Mind Network's journey, from innovating stealth-sending protocols to addressing key management challenges, it's evident that their contributions are reshaping the landscape of privacy and security in blockchain. With promising partnerships, a robust roadmap, and a commitment to advancing decentralized computing, Mind Network is poised to lead the charge into a more secure and privacy-centric digital future.
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