Fhenix is ​​the first private blockchain to use advanced homophoric encryption (FHE) technology. The Fhenix development team is implementing its own EMV smart contract encryption capability, allowing calculations to be performed on encrypted data without the need for decryption.

Fhenix ​​features:

Fhenix offers developers pioneering technology to protect personal data and perform encrypted computations, enabling them to create a wide range of new and essential products for the Web3 industry. Also unique to the project is Fhenix’s modular design, which allows users to place sensitive data on public blockchains at all data levels.

If you are interested in learning more about the technical component of the project, you can study their documentation.

Team:

The project was founded by Guy Zyskind, founder of Secret Network, and is led by Guy Itzhaki, former director of Intel's Homophoric Encryption and Blockchain Group.

Investments:

• The project raised investments of $7 million in September 2023, led by Multicoin Capital and Collider Venture, Robot Ventures, Hack VC, Bankless Venture and other funds also took part in this funding round;
• In June 2024, the project attracted investments of $15 million from Hack VC, Gate.io, Amber Group, NGC Ventures, GSR and others.

Thoughts:

The project was launched a couple of months ago and has already received support from venture capital companies and the media. Fhenix is ​​developing its own technology, which commands interest among other blockchains and falls under the “Programmability. Scalability. Encryption." trend of the current crypto market. This may mean that in the future larger entities will become interested in the project and generate hype among Web3 market participants.

At this stage, we can take part in the project’s testnet, which the team might take into account in the future distribution of rewards. Note that this is a blockchain and can be classified as Layer 1, which is to say that participation in the testnet plays a significant role before the project enters the main network and launches its native coin. This is a separate blockchain and their token is to be used for gas, which means that if the project has a drop, it will be for actions in the test network or other community activities.

This is a test network and no investment is required when interacting with the blockchain. In the guide below we will show how to perform currently available activities in the project and qualify for a possible retrodrop: