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CRYPTO NEWS DESK — 2023-06-23

Securing Web3 With Zero Trust: Empowering Data, Smart Contracts, and AI on the Blockchain With Mind Network


In the rapidly evolving world of Web3, where data security and privacy are paramount, innovative solutions are needed to protect sensitive information and establish trust within the decentralized ecosystem. This sponsored article delves into the concept of Zero Trust and explores how it serves as the foundation for a revolutionary platform called Mind Network. By


Securing Web3 With Zero Trust: Empowering Data, Smart Contracts, and AI on the Blockchain With Mind Network

In the rapidly evolving world of Web3, where data security and privacy are paramount, innovative solutions are needed to protect sensitive information and establish trust within the decentralized ecosystem. This sponsored article delves into the concept of Zero Trust and explores how it serves as the foundation for a revolutionary platform called Mind Network. By combining the principles of Zero Trust with cutting-edge encryption techniques, Mind Network aims to empower users, developers, and businesses to secure their data, smart contracts, and AI models on the blockchain. Mind Network recently closed its seed round fundraising, led by Binance Labs and co-invested by SevenX Ventures, HashKey Capital, Arweave SCP Ventures, etc. Mind Network was incubated by Binance Incubation Camp Season 5 and selected into Chainlink BUILD Program.

The Rise of Zero Trust Security

Traditional security paradigms in Web2 environments relied on the assumption of trust within a centralized infrastructure. However, the increasing frequency of data breaches and cyberattacks has exposed the vulnerabilities inherent in this approach. Enter Zero Trust Security, a modern strategy built on the principle of 'never trust, always verify.' Zero Trust assumes that breaches have either already occurred or are imminent, prompting the need for continuous verification of every request, irrespective of its origin.

Zero Trust Principles for Enhanced Security

Zero Trust Security operates on several core principles that ensure robust data protection and access control: Verify Explicitly: Each request, regardless of its source, must be explicitly authenticated, authorized, and verified before granting access. Use Least-Privilege Access: Access permissions are granted at the most minimal level necessary, reducing the risk of unauthorized access and potential data breaches. Assume Breach: Zero Trust assumes that breaches are inevitable, which prompts continuous monitoring, verification, and mitigation measures throughout the system.

Challenges in Web3 Security and Why Zero Trust

The decentralized nature of Web3 introduces unique security challenges that demand innovative solutions. These challenges include:

Data Privacy and Ownership

Web3 emphasizes individuals' control over their personal data, financial transactions, and user interactions. However, existing applications often lack proper encryption and access control support, risking user privacy.

On-Chain Data Protection

Exposing wallet addresses and smart contract interactions in public ledgers poses security threats and potential financial losses. Protecting this data is crucial to maintaining user trust in decentralized systems.

Decentralized Storage Risks

Decentralized storage systems rely on untrusted node operators to store and compute data, creating potential vulnerabilities and compromising data confidentiality.

Trust and Reliability

Ensuring trust and reliability in decentralized systems during computation and state updates is vital to prevent financial losses and maintain the integrity of the network.

Why does Web3 need Zero Trust?

Data Ownership and Privacy challenge needs to remove intermediary or superuser who is assumed to be trusted. It meets the second principles of Zeo Trust to use least-privilege access. Zero Trust assumes breaches are inevitable, which is the foundation to On-Chain Data Protection challenge. Zero Trust can promote verification explicitly to Decentralized Storage Risks challenge. Therefore, a Zero Trust implementation is demanded in Web3.

Introducing Mind Network: Empowering Web3 Data Security

Mind Network is a pioneering platform that brings Zero Trust principles to the Web3 landscape. Built on the foundation of a Zero Trust Data Lake, Mind Network focuses on securing data, smart contracts, and AI models in a decentralized manner. By utilizing Zero Knowledge Proof (ZKP) and the patented Adaptive Fully Homomorphic Encryption (AFHE) technique, Mind Network enables end-to-end encrypted computation and storage for on-chain private data. Mind Network offers a comprehensive set of solutions designed to enhance security and privacy in Web3 applications:

Encrypted Read and Write Solution

Developers can securely connect their decentralized applications (dApps) to Mind Network, enabling encrypted read and write operations on sensitive data. Encrypted data remains inaccessible to Mind Network and its node providers, ensuring privacy and security.

Encrypted Content Sharing Solution

Mind Network enables the secure sharing of encrypted data between dApps using tokenized access control. This solution is invaluable in data marketplaces, private subscription services, and other scenarios requiring controlled data sharing or monetization.

Privacy-Preserving Computation Solution

Developers can perform privacy-preserving computations on encrypted data within Mind Network. This allows for various use cases, including executing order books, credit evaluations, medical research, and legal protection.

Secure Data Verification Solution

Mind Network provides a solution for verifying users' encrypted data and computation results. This allows decentralized applications (dApps) to verify specific rules without accessing the content, ensuring the integrity of social connections, voting results, asset positions, risk scores, and more.

Secure Data-Driven Smart Contracts Solution

Mind Network collaborates with Chainlink to address data transfer limitations from off-chain to on-chain smart contracts. Encrypting data and performing computations on encrypted inputs ensures privacy and security for use cases such as trading signals, financial models, on-chain gaming, and more.

Securing AI Models with Mind Network's Zero-Trust Solution

Mind Network's Zero-Trust AI Solution offers robust protection for AI models, mitigating the risk of unauthorized manipulation and ensuring end-to-end security. Enabling encrypted input and output safeguards against unpredictable damage to financial markets and user interests. Mind Network's Zero-Trust AI Solution defends against unauthorized manipulation and addresses additional risks. It can potentially mitigate model collapse, preventing decreased accuracy and biased outputs over time. Furthermore, it tackles the challenge of 'proof of human data,' verifying the authenticity and integrity of training datasets. By adopting this secure framework, AI models can operate with transparency and trust, bolstering confidence in AI-driven systems across industries. Mind Network's Zero-Trust AI Solution provides a reliable foundation for deploying AI models in finance, healthcare, and other domains. It promotes responsible AI adoption, safeguarding against potential harm and ensuring the integrity of decision-making processes.

Use Cases for Mind Network

dWeb Use Case: Mind Network serves as a secure data lake for decentralized web applications, allowing them to persist front-end data using decentralized storage while accessing encrypted data from Mind Network. This use case applies to UGC platforms, social and gaming platforms, DeFi, and middleware protocols. TradFi Use Case: Traditional financial institutions can leverage Mind Network to generate risk profiles for crypto investor customers while preserving their privacy. By encrypting customer wallet lists and combining them with on-chain data, risk assessments can be performed without compromising user confidentiality. This use case extends to areas like fraud detection, compliance, and anti-money laundering (AML). AI Use Case: Mind Network addresses privacy protection challenges in social networks by combining encryption and social relationships. For instance, photos can be pre-processed, encrypted, and stored on Mind Network, giving users control over their data and access based on their social connections. DeFi Use Case: Mind Network enhances transparency and control in trading platforms by encrypting trading positions and order books, enabling secure and private trading without exposing sensitive information. This use case applies to spot, derivative, dark pool, and cross-chain exchanges.

Team

The Mind Network team comes from a solid background, with special mentions for the CTO, George, who was a researcher at Cambridge University and has had his research in cryptography adopted by the United Kingdom government and high-street banks, and Dennis, the CSO, is the first white hat hacker to hack Tesla in 2014. The rest of the team is assembled with serial entrepreneurs, award-winning scientists, and Web3 marketing veterans.

Investors and Partners

Mind Network has closed its seed round fundraising. This round is led by Binance Labs and co-invested by Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Meridian Capital, etc. Mind Network was incubated by Binance Incubation Camp Season 5 as the only data project and selected into Chainlink BUILD Program. Even early, Mind Network established strong partnerships with Binance, Chainlink, Consensys, and Arweave. It acquired early supporters, including well-known global banks, insurance companies, and various dApps and protocols.

Final Recap

Mind Network's innovative Zero Trust Data Lake presents a groundbreaking solution for securing data, smart contracts, and AI in the Web3 ecosystem. By implementing Zero Trust principles and leveraging advanced encryption techniques, Mind Network empowers users, developers, and businesses to maintain privacy, protect sensitive information, and establish trust within the decentralized landscape. Mind Network paves the way for a more secure and privacy-focused Web3 future with its comprehensive suite of solutions.

For more information about Mind Network, please reach out to us on:

Website: https://mindnetwork.xyz/ Twitter: https://twitter.com/mindnetwork_xyz Medium: https://mindnetwork.medium.com/ Gitbook: https://mind-network.gitbook.io/mindnetwork/ Github: https://github.com/mind-network Discord: https://discord.gg/UYj94MJdGJ Telegram: https://t.me/MindNetwork_xyz         This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

— Media of Bitcoin News - Daily Bitcoin News

Keywords: Sponsored, Mind Network



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