MagnetAI is delighted to announce a strategic partnership with Mind Network, the first Fully Homomorphic Encryption (FHE) restaking layer for PoS and AI networks. Mind Network’s framework operates as an FHE validation network, providing secure computation and consensus for restaking, decentralized AI, bridges, and more.

By incorporating this technology, we will safeguard data across MagnetAI’s ModelFi protocol, enhancing the security of applications in our Model Store.

Building Trust and Reliability

Public data exposure in blockchain ecosystems is a significant concern. Mind Network’s FHE solution encrypts data in a way that allows third-party verification without revealing the actual data. This innovation is crucial for enhancing both computational efficiency and data security in decentralized AI systems.

At MagnetAI, we are committed to advancing the AI economy through ModelFi, which addresses the economic incentive challenges associated with creating and using AI services. Given the financial nature of these behaviors, ensuring the security of sensitive information is paramount.

By integrating Mind Network’s FHE technology, our partnership will not only enhance data security but also streamline the tokenization and execution of AI projects, encompassing AI models, AI agents, and knowledge. This collaboration opens new avenues for revenue generation and applications within the decentralized AI ecosystem.

Secure Data Sharing and Cloud Computing

Mind Network’s FHE enables secure data sharing with third-party AI service providers, allowing them to perform computations on encrypted data and return encrypted results. This capability allows MagnetAI to leverage external AI resources and expertise without risking data breaches or unauthorized access. By keeping the data encrypted, we ensure that sensitive information remains protected even when processed by external entities.

The partnership also enhances the security of cloud-based AI computations. By utilizing Mind Network’s FHE, MagnetAI can securely process encrypted data on cloud platforms, ensuring that data remains protected from potential breaches. This enables organizations to benefit from the scalability and efficiency of cloud computing while maintaining stringent data privacy standards.

Looking Ahead

We are excited about this partnership and the advancements it will bring to decentralized AI. Together, MagnetAI and Mind Network are committed to pushing the boundaries of secure and efficient AI technology.

We will be hosting our second MagnetAI Open House on July 8th in Brussels, where attendees can experience live demo of the MagnetAI product. We welcome you to join us and witness the future of decentralized AI firsthand!

About Mind Network

Mind Network is the first FHE Restaking Layer for PoS and AI Networks. Their framework operates as an FHE validation network, bringing secure computation and consensus to Bitcoin restaking, Decentralized AI, Bridges, EigenLayer AVS, Bittensor Subnet, and many critical PoS networks. Mind Network’s solution enables verifiable decentralized computation over encrypted data. It has achieved 650k+ active users and 3.2M+ transactions processed on its testnet.

Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, Comma3, SevenX, and received an Ethereum grant to conduct research on practical implementations for FHE technology on Ethereum.

Follow Mind Network on their Website, X, and Discord.

About MagnetAI

MagnetAI is pioneering the first ModelFi protocol, designed to create financial opportunities for AI creators, users, and investors through blockchain-based principles like tokenization, incentivization and monetization.

ModelFi transforms the AI economy through 3 primary components:

• Model Store: A user-friendly, decentralized AI marketplace that enables creators to monetize their AI products, including models, bots, agents, and knowledge bases.

• Model Economy: Allows creators to tokenize their AI projects, facilitating fractional ownership and benefits such as revenue sharing with "Model tokens."

• Model Network: Integrates Web2, Web3, and Virtual GPU nodes into a cohesive inference network that is ZKP-based and on-chain verifiable.

Discover more about how MagnetAI is shaping a new AI economy on our homepage: https://magnetai.xyz/

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