CandleFocus Solana-based confidential computing startup acquires Web2 competitor
2024-11-04
Author: Content Editor
Arcium, a Solana-based confidential computing startup, has acquired Web2 competitor Inpher. The terms of the deal were not disclosed. The acquisition comes after Stripe's acquisition of Bridge, raising hopes for increased mergers and acquisitions in the crypto market. Arcium, previously known as Elusiv, aims to create fully confidential applications onchain. The CEO of Arcium, Yannik Schrade, emphasized the importance of confidential computing in mitigating the risk of data breaches and highlighted the expertise of the Inpher team in cryptography. Inpher, which raised $14 million since 2016, marketed itself as a service for private and secure interaction with AI. The acquisition seeks to further develop practical technology and research in the Solana ecosystem.
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