Introduction

Mind Network is an “HTTPZ” infrastructure utilizing Fully Homomorphic Encryption (FHE) to propel Web3 into a new era of quantum resistance and end-to-end encryption. It provides unique solutions for data sovereignty, fair consensus, private voting, secure cross-chain transmission, and trusted AI.

Financing Background

Financing Background (Source: https://www.rootdata.com/Projects/detail/Mind%20Network?k=NTMyMQ%3D%3D)

Mind Network has conducted two rounds of financing. The seed round, which raised $2.5M, was held on June 29, 2023, and included participation from Binance Labs, SevenX Ventures, and HashKey Capital, among others. The Pre-A round, which raised $10M, was held on September 27, 2024, and included participation from Animoca Brands, MH Ventures, ArkStream Capital, Cogitent Ventures, and others.

Team Members

Team Members (Source: https://www.rootdata.com/Projects/detail/Mind%20Network?k=NTMyMQ%3D%3D)

The core team of Mind Network consists of co-founder and CEO Christian Pusateri, co-founder George, and CSO Dennis Song.

Christian Pusateri was previously the sales lead at BurstIQ and worked at IoTeX. George was a solution architect at Alibaba Cloud and a data science manager at Barclays. Dennis Song was a security engineer at Microsoft Corporation. The team has a strong mix of Web3 experience, traditional investment banking, and software company experience.

Ecological Partners

Ecological Protocols (Source: mindnetwork)

Several protocols have already been established to cooperate with Mind Network. In addition to FCN, FDN, and other derived protocols, external protocols that are already online include ZAMA, InfStones, Lumoz, Roam, Rivalz Network, CARV, Chainlink, and other well-known protocols. Those that are not yet online include Pendle, Manta Network, Solv Protocol, StakeStone, and others.

What Does Mind Network Want to Change?

Most AI or POS networks, typically use native token staking and delegation to validators, followed by a consensus-based voting mechanism. Mind Network believes these networks face three major challenges:

• Consensus Security:
  Voting mechanisms typically require validators to independently validate and then broadcast the validation results to the network, reaching a consensus based on those results. This works well in decentralized networks with many independent nodes, like Ethereum. However, in networks with fewer nodes, there is a lot of cheating and manipulation in the voting process, i.e., mimicking and influencing the results of other validators.

• Data Security:
  AI networks are data-intensive. In many use cases, miners and validators need to handle personal data, sensor data, transaction data, and other high-value data, generating sensitive output predictions or analyses. These input and output data must be protected, especially in decentralized networks, so high-value data can be processed securely in production.

• Crypto Economics Security:
  Many AI or POS networks rely on their tokens to ensure consensus and slash validators when they fail to meet their obligations. However, their tokens may be subject to price volatility, which could lead to security issues across the entire network.

Traditional Voting Mechanism (Source: docs.mindnetwork.xyz)

What is HTTPZ?

Mind Network is based on an “HTTPZ” infrastructure. HTTPZ is a protocol that uses Fully Homomorphic Encryption (FHE) to provide end-to-end encryption, ensuring privacy between transmission, storage, and computation. HTTPZ uses Fully Homomorphic Encryption (FHE) specifically designed for this new era. It supports end-to-end encryption throughout the entire lifecycle of data (transmission, storage, and computation), ensuring privacy at every step.

Unlike HTTPS, which only protects data during transmission, HTTPZ ensures that data remains encrypted at all times. Using FHE, data is not decrypted even when processed in servers or the cloud. This guarantees privacy without relying on intermediaries or trust.

Main Features of HTTPZ:

• Computation powered by FHE (Fully Homomorphic Encryption)
• End-to-end encryption
• Zero-trust architecture
• Decentralization and blockchain integration
• Quantum resistance

HTTP vs HTTPS vs HTTPZ (Source: docs.mindnetwork.xyz)

Core Product

MindV

Introduction

MindV is an innovative FHE (Fully Homomorphic Encryption) infrastructure designed specifically for AI. It introduced the world’s first FHE-based voting solution to ensure secure consensus in AI and Proof-of-Stake (PoS) networks. By granting re-stakers voting power proportional to their re-staked assets, MindV enhances network security and fosters a fairer governance environment across systems.

• Decoupling Voting and Re-staking
  MindV decouples voting rights from re-staking rights through Total Governance Value (TGV), allowing users to earn $vFHE by holding staked assets. This makes governance participation across multiple networks risk-free while improving consensus security. Currently, partnerships with networks such as Puffer, Manta Network, and Etherfi have brought the TGV total to $4 billion.

• Delegation and Centralized Voting
  MindV supports participants through its delegation and voting center features, enabling seamless participation in decentralized governance while maximizing returns. Users can delegate vFHE to specific centers to receive daily rewards or register as voters without holding vFHE, ensuring broad accessibility. These features provide dual income sources, allowing participants to earn both as voters and delegates, while offering early advantages like increased rewards and the opportunity to receive future airdrops, making governance both impactful and rewarding.

Operational Model

Mind Network has a layered structure: Re-staking layer, Consensus layer, and Security layer. The specific framework is as follows:

• Mind Network Hub
  Subnets are AI or PoS networks that use Mind Network’s FHE validation services and become part of the ecosystem. These can either be hubs built from scratch on Mind Network or existing networks that adopt Mind Network’s validation services.

• Security Layer
  The core security service of Mind Network’s FHE validation network is composed of multiple independent FHE validators.

• Consensus Layer
  This is the backbone of Mind Network. It is a Rollup chain developed in collaboration with AltLayer and EigenDA to ensure consensus on the FHE validation process and also to protect the remote staking ledger interacting with users.

• Re-staking Layer
  This layer accepts Ethereum, BTC, and AI ecosystem staking from various chains and networks via remote staking. It also acts as a re-staking market, offering different re-staking tokens to secure Subnet networks.

Layered Structure (Source: docs.mindnetwork.xyz)

vFHE

vFHE is an ERC-20 token on the Mind Chain representing voting rights within Mind Network. It allows participation in governance to ensure consensus and data security in AI and PoS networks. vFHE can be earned by holding related re-staked assets or participating in Mind Network’s delegation and voting.

Utility of vFHE

By holding vFHE, users gain various powers within Mind Network, including:

• Mind Network Airdrops:
  Users receive token airdrops directly from Mind Network as a reward for participation.

• Partner Network Consensus Validation Rewards:
  Users can earn rewards in the form of airdrops from partner networks by participating in their consensus validation.

• Original Staking Rewards:
  Users holding vFHE tokens continue to earn rewards from original LST/LRT asset projects.

• vFHE Distribution
  Mind Network utilizes vFHE tokens to allow users to participate in governance and voting across various partner networks. The total distribution of vFHE tokens is divided into two parts:

1. Token Governance Value (TGV): Tokenizing the voting rights of re-staking partners.
2. Voting on the Hub: Including delegation and direct voting.

FHE Bridge

FHE Bridge is a cross-chain solution powered by FHE, integrated with Chainlink CCIP. This innovative approach addresses the urgent need for enhanced security and privacy in Web3, creating a safer environment for users, institutions, and developers. FHE Bridge offers enhanced security in various scenarios:

• Banking Chain to Public Chain: Securely connecting traditional financial systems to public blockchains, facilitating seamless transactions while protecting sensitive financial data.
• CBDC Chain to Public Chain: Enabling the integration of central bank digital currencies (CBDCs) into the public blockchain world, ensuring privacy and security of digital assets.
• Public Chain to Public Chain: Promoting secure cross-chain interactions between different public blockchains, expanding the scope of decentralized finance (DeFi), and allowing free movement of digital assets.

Mind Lake SDK

Mind Network uses the Mind Lake SDK to protect the privacy of client users. The Mind Lake SDK leverages Mind Lake’s encrypted storage and privacy computing functions to provide secure data management.

Mind Lake is the backbone of Mind Network. All data is end-to-end encrypted at the client SDK level, ensuring that plaintext data never leaves the user’s device. The encryption mechanism ensures that only the data owner can access their plaintext data. Additionally, Mind Lake’s powerful privacy computing capabilities allow for the computation and querying of encrypted data.

Design Principles

• Encryption and decryption occur on the user’s side. The SDK executes encryption and decryption algorithms locally, such as on the user’s browser or trusted local computer.
• The SDK sends the encrypted data to Mind Lake. Mind Lake stores the encrypted data, and the SDK queries the encrypted data from Mind Lake.
• Encrypted data can be shared, and users can query others’ encrypted data once they are granted permission.
• Using the SDK, developers only have access to encrypted data and cannot access the plaintext data in the dapp (unless the user shares it).

Recent Activity

Mind Network launched the CitizenZ Passport event, which is not only an important airdrop credential within the Mind Network ecosystem but also unlocks Voter voting rights. This allows users to participate in FHE-based voting and contribute to ecosystem development.

dAPP Page (Source: dapp.mindnetwork.xyz)

Users can obtain vFHE and CitizenZ Passport credentials by completing tasks, staking, and other methods. Future potential airdrops will be based on the number of Passports and vFHE in the user’s account. In addition to potential airdrops, CitizenZ Passport holders will also be eligible for whitelist opportunities from partners.

Conclusion

Mind Network is a blockchain project focusing on data privacy protection and decentralized storage. It employs cutting-edge encryption technologies (such as homomorphic encryption, zero-knowledge proofs, etc.) to achieve secure data sharing and privacy computing, with widespread applications in finance, healthcare, and corporate data collaboration. At the same time, the native token supports payments, incentives, and governance functions, aiming to build a decentralized ecosystem that prioritizes both data security and collaboration.