What is the biggest pain point of doing things on-chain? It's the loss of privacy. When you buy a coin, transfer money, or participate in a vote, everything is exposed on the Blockchain. Others can see at a glance how much you have in your Wallet and when you spent it.

This also leads to many truly valuable scenarios being unable to move on-chain - banks are hesitant to come, healthcare is hesitant to come, and businesses are also hesitant to come. Because who would want to lay bare their clients' privacy and their company's secrets for everyone to see?

The fhEVM launched by Zama addresses this pain point. It is an Ethereum Virtual Machine with homomorphic encryption capabilities. In simple terms, the smart contracts you write on it can directly handle encrypted data. Others can help you compute, but they cannot see your details, and the final result is still correct.

For example, if you want to trade in DeFi. On regular Ethereum, everyone can see how much you bought, when you bought it, and even be targeted by bots for sandwich attacks. But on fhEVM, the transaction amount and account can be encrypted, so others can't see it, and bots have no way to intervene.

Another example is voting. In the past, on-chain voting was public and transparent, but everyone could see who voted for whom. With fhEVM, it is possible to achieve anonymous voting, verify the results, and ensure privacy without losing fairness.

I believe the value of fhEVM lies in completing the puzzle of privacy. It is not about creating concepts, but about allowing on-chain applications to be closer to the needs of the real world. Only in this way can Web3 potentially transform from a coin speculation game into an infrastructure capable of supporting truly large scenarios like finance, healthcare, and AI.

So, if Ethereum is the operating system of the Blockchain, then fhEVM is like its privacy upgrade patch. With it, on-chain can truly move towards large-scale applications.
#ZamaCreatorProgram fhEVM