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Fhenix is a confidential smart contract platform based on Fully Homomorphic Encryption (FHE). It enables direct computation on encrypted data without decryption, protecting on-chain privacy. The platform provides fhEVM (FHE-extended EVM) and the CoFHE coprocessor, allowing Solidity developers to build encrypted applications such as private voting and confidential DeFi. Developers can seamlessly add encryption capabilities to existing smart contracts via the Fhenix SDK or by importing the FHE.sol library.
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About Fhenix
Fhenix, an Ethereum Layer 2 powered by Fully Homomorphic Encryption (FHE), has hit several milestones with long-term significance.
In 2023, Fhenix raised $7 million in seed funding led by Multicoin Capital and Collider Ventures, establishing early validation for FHE-based confidential blockchain infrastructure.
In 2024, the project completed a $15 million Series A round led by Hack VC, with participation from Amber Group, Primitive, GSR, Stake Capital, and Dao5. This funding accelerated development of its FHE coprocessor (CoFHE).
A strategic investment from Biprogy—one of Japan's largest IT service providers with annual revenues exceeding $2.6 billion—alongside TransLink Capital marked a pivotal enterprise adoption milestone, enabling Fhenix's first institutional deployment in the Japanese market for privacy-focused stablecoins and Web3 fintech.
Technically, Fhenix launched CoFHE, an off-chain computation layer that processes encrypted data and returns results to any EVM chain, live on testnets including Ethereum Sepolia, Arbitrum Sepolia, and Base Sepolia. This architecture eliminates the need for trusted hardware and allows developers to integrate FHE with a single Solidity import.
In 2025, Fhenix's research on threshold FHE decryption—led by Guy Zyskind and Professor Chris Peikert—was accepted as a Distinguished Paper at ACM CCS 2025, one of the most selective venues in applied cryptography. The paper demonstrated that threshold FHE decryption can scale, addressing a critical bottleneck in multi-party FHE systems.
Industry recognition followed: 1kx Research Partners noted that FHE is "very close" to large-scale application, reflecting growing confidence in the technology's maturity.
Guy Zyskind (Founder): MIT PhD in Applied Cryptography; founded Secret Network, pioneer in privacy-preserving blockchains; currently leading Fhenix to bring fully homomorphic encryption (FHE) to Ethereum.
Guy Itzhaki (CEO): Former Intel Director of Homomorphic Encryption and Blockchain Business Development; led Olympic Games Metaverse partnerships; MBA from Hebrew University; driving Fhenix's commercial strategy.
Fhenix has recently strengthened its research team by acquiring Sunscreen, a pioneer in fully homomorphic encryption (FHE) for blockchain. Ravital Solomon, founder of Sunscreen, joined Fhenix in July 2026 as Head of Research. She brings deep expertise in lattice-based post-quantum cryptography, encrypted smart contracts, and FHE compiler development. The acquisition combines Sunscreen's advanced compiler technology with Fhenix's CoFHE infrastructure, aiming to scale encrypted computation across Ethereum, Arbitrum, and Base. This move accelerates Fhenix's roadmap toward a quantum-safe privacy layer for mainstream blockchain applications.