Backed by leading investors

Research Paper

Confidential ERC20 Framework using Fully Homomorphic Encryption (FHE)

Empowering ERC20 tokens with FHE to unlock a plethora of confidential use cases in payments and beyond.

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FAQs

Is FHE too early to be production ready?

​​While it is true that FHE requires intensive computation and cannot support use cases that require scale (such as training ML models on top of encrypted data), it is currently fast enough to support smart contract use cases. This is because not all the operations within a smart contract are confidential, and the waiting period for producing new blocks provides enough time for the computation needed.

What is Inco’s TPS?

Typically, TPS (transactions per second) is measured using standard ERC-20 transfers. In our case, it will be based on confidential ERC-20 transfers, which involve FHE-based operations such as addition, subtraction, comparison, and conditional multiplexing (select). We anticipate that mainnet will support at least 10 TPS using a single GPU. It’s important to highlight that FHE computations are parallelizable, allowing for horizontal scaling. Furthermore, we expect FPGA hardware acceleration to enhance scalability by an additional factor of 10-100x over time.

Is FHE post-quantum secure?

The TFHE scheme is based on lattice cryptography, which has been endorsed by the National Institute for Standards and Technology (NIST) to be resistant to quantum computers.