Place/Date: - January 28th, 2021 at 10:41 am UTC · 4 min read
Contact: Findora, Source: Findora
FINDORA announced the investment in the startup LZMicro in the amount of two million US dollars, as part of its strategic investment to achieve the expansion of its fast-growing ecosystem.
LZMicro is a leading integrated circuit design company and ZK-as-a-service provider, made up of experienced doctors from Harvard and Maryland Universities, with extensive experience in integrated circuit design, multi-party computing and ASIC component production. LZMicro has offices and teams in Silicon Valley, Shanghai and Beijing.
LZ Micro, as Findora Ecosystem’s partner, is offering a new category of computing hardware for cloud, edge and IoT industries called Privacy-Preserved Processing Unit (PPU). PPU aims at delivering data asset inter-operability using very large scale ICs for Trusted Data Transactions in both digital and decentralized economy.
One of the main reasons for investing in this startup is its focus on optimizing zero-knowledge testing and hardware acceleration, technological foundations aligned with FINDORA’s goals to bring verifiable computing to mass production-level scale.
Regarding the investment grant given by Findora to LZ Micro, the Findora team pointed out:
“To be very excited to be able to support a startup that has a very clear mission of the existing needs in the market for reliable data transactions in the new digital economy of which Findora is part of it”.
“Their business approach and their innovation to offer new, more efficient hardware products focused on privacy, are some of the technological pillars that convinced us of LZ Micro to support them.”
FINDORA’s technology is based on zero-knowledge tests to provide an efficient way for users to perform complex operations with fully encrypted data, ensuring complete confidentiality and immutability.
With this new investment, FINDORA places a step forward in the offer to the market offered by LZ Micro to accelerate the adoption of its technology on a massive scale within traditional companies and their strategic partners of the Blockchain ecosystem.
FINDORA expects to provide the world’s first confidential ledger products under the name “zkLDB,” which comes preloaded with a comprehensive suite of privacy-preserving auditing tools that are fully compliant and enable advanced auditability.
The FINDORA’s open financial network has been built from the ground up to address many of the “pain points” of traditional finance. This is achieved using a vast and advanced tech stack based partly on blockchain, featuring the latest zero-knowledge proofs (zk-SNARKS, ZK-Rollup), accumulators (RSA) and Pederson homomorphic commitments and much more.
It has been just over a year since FINDORA revealed the achievements of its technology in Zero Knowledge Proof that allows it to efficiently verify complex statements in just milliseconds, which are 25 times smaller than any other proof of knowledge system zero without confidence with comparable verification times.
If you are developing a project that generates added value to the Blockchain ecosystem and you want Findora to support you with its Research Grant Program, you can go to this link to learn more details about it.
Founded 2017, FINDORA is backed by the research of renowned academic institutions such as Stanford University and was founded by the late John Powers, a visionary who previously served as CEO of Stanford University’s $25b endowment fund.
A market leader in zero-knowledge proof and multi-party computation technologies with strong distributed system engineering capability, FINDORA’s core mission is to power confidential and auditable applications with breakthroughs in cryptography, blockchain, and efficient authenticated data structures.
Founded in 2020, LZMicro has a mission to be the world’s first reliable full-stack computing IC and solution provider. Its innovative PPU and PPU platform can be widely used in various markets, such as finance, banking, insurance, government regulation, healthcare, pharmacy, and IoT.
Its founding team includes renowned chip design experts who have the resources to establish LZMicro as an industry benchmark.