ETHPrague 2026

At EthPrague 2025 we first presented the idea of the encrypted computer. We discussed Phantom (FHE based risc-v VM), an encrypted VM with threshold security. We discussed two approach to obfuscation - a technique necessary to build a trustless encrypted computer (i.e. one without threshold security). Over the last year, we've made significant progress in all 3 directions.

First, we've a fully functional version of Phantom that executes encrypted risc-v programs on encrypted inputs with encrypted memory. The execution trace remains black-box to the observer.

Second, we've progress in local mixing method of obfuscation, to the extent that we're ready to release our work to public scrutiny. We'll release another set of obfuscation challenges based on our newly developed methods. The challenges have two motivations: (1) to attract wider cryptography community to the local mixing approach (asking them to break it is apparently the best way to attract!) and (2) put our methods to "trial by fire" with the help of practitioners.

Third, Machina IO team has a working implementation of their approach to obfuscation. Although limited in functionality, their work highlights the vast scope in traditional approach to obfuscation that remains unexploited for efficiency. Ofcourse, they have beautifully exploited some of them.

Our hope with the presentation is to attract the wider community to the problem of the encrypted computer. To overcome the view that it's not tangible. We hope that by sharing our progress, the goal appears much closer and, finally, solvable.