IoTeX launches confidential computing hardware stack

The latest functionality to join the DePIN stack is written in Rust and will allow developers to compute encrypted data

article-image

Jakub Krechowicz/Shutterstock modified by Blockworks

share

Hardware and chip technology provider ARM Research and Web3 platform IoTeX have brought confidential computing of encrypted data to IoTeX’s DePIN stack.

DePIN, short for decentralized physical infrastructure networks, is designed so that contributors can build out decentralized infrastructure for any individual or company to use in return for financial compensation. 

The latest functionality to join the DePIN stack will be confidential computing, allowing developers to compute encrypted data. This new framework is written in Rust.

Dr. Xinxin Fan, IoTeX co-founder and head of blockchain, told Blockworks that confidential computing is a hardware-backed security and privacy enhancing technology designed specifically for protecting data as it’s in use.

This means that a computation system will be able to derive knowledge from encrypted data without ever revealing what the information inside is. Although there are similarities between confidential computing and zero-knowledge proofs, Fan notes that there are differences. 

“Zero-knowledge technology roots its security in mathematics, whereas confidential computing relies on specific security features of hardware,” Fan said, adding that he believes confidential computing is “much more efficient” than zk proofs. 

Read more: Zero-knowledge proof systems have room for improvement, say cryptography researchers

IoTeX’s indoor security camera, Ucam, will be the first physical proof of concept for this collaboration. Ucam users will not need to expose their private home information to manufacturers. 

This is a step towards both personal privacy and privacy on a larger scale, IoTeX explained in a blog post. Individuals no longer need to give unencrypted data to manufacturers or cloud service providers. Organizations, on the other hand, will be able to collect insights without exposing the private information of their clients through trusted node servers.

Using Ucams as an example, security providers will be able to share insights on home invasions with a security firm without having to show the security firm the actual images of their client’s homes, IoTeX said. 

Read more: ‘Drive-to-earn’ app aims to bootstrap ‘dynamic maps’ with crypto rewards

Another example of this would be Web3 health app Healthblocks. The company has licensed private fitness data and sent them to health researchers for analysis through private computing. This means that these researchers will be able to anonymously analyze data without knowing which client this information belongs to.

“This industry recognized Arm PSA certification establishes a solid security foundation for bringing smart devices to Web3 in a trustworthy manner, further revolutionizing the decentralized IoT industry and giving IoTeX a bigger lead within the Decentralized Physical Infrastructure Networks (DePIN),” Fan said. “It will also significantly challenge the corporations currently monopolizing the industry, such as Amazon, Google and Microsoft, to mention a few.”


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders

article-image

Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume

article-image

DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit