Mind Network, a pioneering Absolutely Homomorphic Encryption (FHE) infrastructure platform, has introduced a brand new undertaking to boost cross-chain $USDC transfers in partnership with Circle and Chainlink. The collaboration contains the discharge of the earliest encrypted layer for $USDC transfers throughout chains whereas leveraging FHE. The platform disclosed this initiative in a current X put up.
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Mind Network Collaborates with Circle and Chainlink to Develop Encrypted Layer for $USDC Transfers
Mind Network’s newest innovation takes under consideration its Absolutely Homomorphic Encryption (FHE) know-how’s implementation for the Cross-Chain Switch Protocol (CCTP). The combination permits privacy-preserving, compliant, and encrypted $USDC transactions throughout numerous blockchains. This is not going to require any changes to the current CCTP infrastructure. With the distinctive FHE-based encryption, Mind Network permits establishments and shoppers to hold out $USDC transactions between totally different ecosystems corresponding to Arbitrum, Polygon, and Ethereum. Concurrently, the delicate switch knowledge, together with token quantities and pockets addresses, will stay utterly confidential.
The important thing ingredient of this initiative is the mixing of Mind Network with the CCIP of Chainlink. It serves as CCTP’s core transport layer, dealing with the relay of burning and minting directions of $USDC between blockchains. Moreover, the FHE overlay of Mind Network successfully encrypts such directions with out making shifts within the canonical logic of the protocol. This lets CCTP function normally whereas blurring transfer-level metadata in relation to public view.
This endeavor is particularly important for builders and establishments. By merging FHE and Zero-Data Proofs, Mind Network delivers instruments to allow compliant privateness. This results in verifiable transactions that fulfill regulatory requirements with out revealing personal particulars. Aside from that, establishments are permitted to configure the system, permitting selective disclosure in keeping with particular audit or authorized circumstances. On this respect, the initiative maintains each confidentiality and transparency.
Delivering Confidential and Compliant DeFi Transfers on Polygon, Arbitrum, Ethereum, and Extra
Based on Mind Network, the noteworthy use circumstances of the distinctive encrypted $USDC switch layer embody confidential DeFi transfers. Together with that, the undertaking additionally contains institutional treasury actions and ZKP-based compliance. Equally, it takes under consideration programmable disclosures of privateness and stealth addressing. Furthermore, the real-world property’ settlement throughout chains is one other good thing about this improvement. At present, the encrypted bridge of Mind Network is already engaged on Polygon, Arbitrum, and Ethereum. Moreover, it can quickly help extra chains primarily based on CCIP’s enlargement.
