5ireChain is deployed with an encryption algorithm that will outsmart existing threats in classic computing. As a blockchain ecosystem that will host a myriad of sensitive data on-chain, security of the network is given priority. 5ire is using a homomorphic encryption scheme to secure the data in its blockchain network.
With Homomorphic Encryption, 5ireChain will Overcome all Threats
Among other things, the integrity of a network is based on its ability to secure its perimeters and withstand the threats of the day.
The security of data flowing through a network can be secured with cryptography, a feature that enables only the receiver to decrypt a message from a sender. This closed loop functionality is widely deployed across different layers of security apparatus in computer networks. Blockchain is not an exception here, it uses cryptography to secure the gigantic pool of data flowing through it.
The most commonly used cryptography involves the encryption of data with a secret key, after which the encoded message and secret key is sent to the receiver. While this serves as a considerable security measure, it still comes with its flaws. In the event that the message is intercepted en route to the receiver, both the secret key and the encoded message falls into the hands of the burglar.
As with the computing world, the race is unending, protocols are developed and discarded just in time to be ahead of its flaws. Cryptography is known to be not much different. A new model of cryptography is here to change what we all know about encryption.
5ireChain is deployed with this new model of cryptography— Homomorphic encryption. In homomorphic encryption, encrypted messages are processed without decrypting it. This ensures that privacy is ensured as well as security.
Homomorphic encryption scheme ensures that the result of computation on an encrypted data results in a ciphertext which would be equivalent to the ciphertext of a plaintext obtained through performing the same computation on the unencrypted data. In other words, this encryption model hides a message from an observer without altering the meaning.
The ability to process a ciphertext of an encrypted message and get a result that will be the same as when processing a plaintext reveals a relationship between a data in its encrypted and decrypted form. A truly secure homomorphic encryption scheme not only performs a computation on an encrypted message but also hides the relationship between the plaintext and ciphertext.
In industries such as blockchain that hails security without sacrificing privacy, homomorphic encryption will be the trailblazer. 5ireChain is a sustainability driven blockchain ecosystem with vision aligned with the UN 2030 Sustainable Development Agenda.
In a bid to secure its ecosystem, and overshadow existing security threats, 5ire adopted a safer encryption protocol. 5ire believes it will drive the paradigm shift from the for-profit to the for-benefit initiative while leading the world through the 5th industrial revolution. With a novel consensus protocol and the newest encryption model, 5ire is not only poised to stay faithful to its ambition, but also with the capacity to pull it off.
In the midst of all uncertainties of the possibility of a perfectly secured network, what remains certain in the computing world however, is that there is a threat nearby. 5ire eliminates all fears by staying ahead of the game with state-of-the-art security models. With homomorphic encryption, hardware RoT and quantum resistant blockchain infrastructure, 5ireChain will withstand future threats in the computing world.
By ensuring security on-chain, 5ireChain will provide a secure haven for developers and creators in its ecosystem. More so, in the march towards sustainability, security can be an undermining factor if not properly taken care of. This is why 5ireChain, in the pursuit of a sustainable future, can’t be less secured.