What is Arcium? The security project has raised $9M

1. What is Arcium?

Arcium is a project within the Solana ecosystem aimed at providing a secure computing network parallel to the existing Solana blockchain.

The Arcium network uses a distributed architecture, comprising multiple nodes capable of performing Multi-Party Computation (MPC) tasks. These nodes work together to process encrypted data, ensuring that the integrity and security of the data are maintained throughout the computation process.

Each node contributes to the computation task without ever accessing the complete data, thereby ensuring security and protection against potential network threats.

2. How does Arcium operate?

Arcium operates as a separate network running parallel to the Solana blockchain. Users can send their transactions to the Arcium network, where the network is secured using zero-knowledge proofs.

These proofs are then sent to the Solana blockchain for verification. The blockchain can confirm the validity of the transaction without decrypting the underlying details.

3. What can be built with Arcium?

*Join Arcium's Incentivized Private Testnet*

Revolutionizing DeFi: Arcium is transforming DeFi by enabling the creation of secure and safe financial applications.

Secure Order Book: Utilize the Arcium network to encrypt transaction order details, protecting against market manipulation and minimizing risks from fraudulent activities. This ensures that large transactions can be executed without significantly impacting the market. This approach also nearly eliminates Maximum Extractable Value (MEV) and prevents transaction front-running, enhancing the integrity and fairness of transactions.
Blind Auction: With Arcium's encryption capabilities, auction bids can be placed securely, maintaining the competitiveness of auctions while protecting the privacy of the bid amounts.
Real-Time Prediction/Oracles: Using Arcium, predictions can be submitted in encrypted form, preventing influence from other inputs and allowing for objective aggregation of market data to improve the reliability of oracles.
Secure AMM: The platform enables the creation of Automated Market Makers (AMMs) where transaction details are encrypted, protecting the security of transactions and participants, thereby creating a trustworthy trading environment for users.
Secure lending and borrowing: Use Arcium to ensure that the details of lending and borrowing transactions are encrypted.

With these applications, developers can build applications that combine blockchain technology with high security standards. However, these are idealized applications. To confirm the security quality offered by Arcium, further observation and monitoring will be needed in the future.

3. Tokenomics

Arcium has not yet public information for tokenomics. Theblock101 will provide further updates when we have more information.

4. Team

Arcium is developed by the Elusiv team, consisting of key members as follows:

Julian Deschler: Co-Founder and Head of BD at Elusiv.
Yannik Schrade: Co-Founder and Technical Lead at Elusiv.
Lukas Steiner: Co-Founder and Software Engineer at Elusiv.

5. Investor

Arcium has raised a total of $9M through 2 rounds of Seed and Strategic funding with participation from renowned funds such as Coinbase Ventures, Jump, Big Brain Holdings, and others.

6. Roadmap

Arcium is currently in the development phase. The Elusiv team has launched a private testnet encouraged in May 2024.

This testnet allows developers to test Arcium's features and contribute to the project's development.

Additionally, the project's roadmap to mainnet will pass through 3 stages, including:

Public Testnet - Part 1: focusing on onboarding the first wave of users into the Arcium ecosystem through validator bootstrapping and introducing initial applications.
Public Testnet - Part 2: focusing on the network's staking mechanism, allowing users to delegate staking. At this stage, the project will release the first trial applications targeting traditional sectors such as healthcare, research, and finance.
Public Testnet - Part 3: this will be the final stage before the Mainnet launch. Additionally, the project will organize a hackathon competition to discover applications with innovative ideas to launch simultaneously with the project.

7. Conclusion

Above is the article about Arcium - a security project on the Solana network. Hopefully, you have gained useful information. If you have any questions, please leave them in the Bitcoin Vietnam group for assistance.

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