Acurast has raised $11 million to develop a smartphone-based confidential compute network, enabling tamper-resistant execution on everyday consumer devices. This funding supports the launch of its mainnet on November 17, along with the native token ACU, leveraging billions of smartphones for secure, verifiable computations without data centers.
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Acurast secures $11 million from prominent investors including Ethereum co-founder Gavin Wood and Polkadot founder Gavin Wood, focusing on decentralized computing via smartphones.
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The project utilizes existing smartphone hardware for confidential computations, reducing costs and enhancing accessibility for developers worldwide.
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Over 150,000 phones have joined the network, processing more than 494 million transactions and deploying nearly 94,200 services, according to network data.
Acurast raises $11 million for smartphone confidential compute network revolutionizing secure data processing. Discover how this funding empowers tamper-proof execution on consumer devices and launches mainnet soon. Explore the future of decentralized computing today.
What is Acurast’s $11 Million Raise For?
Acurast’s $11 million raise funds the creation of a decentralized confidential compute network powered by smartphones, allowing secure and tamper-resistant data processing on consumer hardware. The investment, announced on a Thursday, comes from key figures like Ethereum co-founder Gavin Wood, Polkadot founder Gavin Wood, MN Capital founder Michael van de Poppe, and GlueNet founder Ogle. This capital will propel the project’s mainnet launch on November 17, introducing the native ACU token to facilitate network participation and rewards.
Acurast aims to harness the vast ecosystem of smartphones—described by founder Alessandro De Carli as the “most battle-tested hardware on earth”—to provide verifiable, confidential compute services at a fraction of traditional costs. By eliminating the need for expensive data centers, the platform democratizes access to secure computing, enabling developers to deploy services without intermediaries.
How Does Confidential Computing Work on Smartphones?
Acurast’s approach to confidential computing ensures that data processed on third-party smartphones remains private, even from device owners with physical access. The system achieves this through hardware-backed verification, where node software runs only on manufacturer-approved devices, preventing unauthorized modifications that could compromise data integrity.
Developers implement rigorous checks to confirm the smartphone operates genuine software aligned with security standards set by producers like Apple and Google. For instance, the Acurast processor application generates key pairs with hardware attestation, which must match official manufacturer signatures to validate participation. De Carli explains that mismatched attestations result in exclusion from the network, safeguarding against tampering with user data or execution environments.
This setup mirrors security protocols used in banking apps but extends them to decentralized applications. While custom firmware communities, such as those using Graphene OS, have bypassed similar restrictions in other contexts, Acurast’s design reportedly thwarts such attempts by enforcing signed attestations. Network data indicates strong adoption, with nearly 150,000 devices already contributing, handling over 494 million transactions and supporting almost 94,200 deployed services.
Acurast network data. Source: Acurast
De Carli emphasizes the platform’s potential: “We remove the gatekeepers, reduce the costs, and bring secure, trustless computation to anyone, anywhere, and all without a data center.” This innovation positions Acurast to lower barriers for blockchain and AI applications requiring privacy-preserving computations.
Frequently Asked Questions
What investors backed Acurast’s $11 million funding round?
Acurast’s $11 million raise was supported by Ethereum co-founder Gavin Wood, Polkadot founder Gavin Wood, MN Capital founder Michael van de Poppe, and GlueNet founder Ogle, among other contributors. This funding underscores confidence in the project’s vision for smartphone-based decentralized computing, announced via a Thursday statement.
Is Acurast’s smartphone network secure against exploits?
Acurast’s network relies on hardware attestation to ensure only verified devices participate, making it highly resistant to tampering. Founder Alessandro De Carli notes that any successful exploit would qualify for substantial bounties, similar to Google’s program, and would prompt rapid fixes. While past vulnerabilities like the 2022 Samsung TrustZone attack highlight risks, Acurast’s design limits damage by preventing private key extraction even in compromised scenarios.
Key Takeaways
- Acurast’s $11 million infusion: Accelerates mainnet deployment on November 17 with ACU token, tapping into smartphones for cost-effective confidential computing.
- Hardware verification core: Uses manufacturer-attested keys to onboard only secure devices, processing 494 million transactions across 150,000 phones without data center reliance.
- Security focus with caveats: Mitigates risks through attestation, though OS-level exploits remain a potential concern; encourages bounty hunting for ongoing improvements.
AES-GCM IV-reuse attack. Source: USENIX
Conclusion
Acurast’s $11 million raise marks a pivotal step in advancing smartphone-based confidential compute networks, offering tamper-resistant execution and secure hardware verification on consumer devices. By integrating insights from experts like founder Alessandro De Carli and leveraging battle-tested smartphone infrastructure, the project promises to democratize secure computations for blockchain and beyond. As the mainnet launches on November 17 with the ACU token, stakeholders should monitor its growth, preparing for broader adoption in decentralized technologies that prioritize privacy and efficiency.
