[PRESS RELEASE – Please Read Disclaimer]
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,offering a new category of computing hardware for cloud, edge and IoT industries called Privacy-Preserved Processing Unit (PPU). LZMicro has offices and teams in Silicon Valley, Shanghai and Beijing.
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”
With this new investment, 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 a blockchain, featuring the latest zero-knowledge proofs (zk-SNARKS, ZK-Rollup), accumulators (RSA) and Pederson homomorphic commitments and much more.
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.
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.