Obscuro Labs

Obscuro Labs is the developer of The Encrypted Network (TEN), an Ethereum layer-2 (L2) rollup network focused on encryption. TEN leverages secure enclaves technology to enable developers to choose which parts of their smart contracts they want to be private and which parts to be public. This approach allows TEN to run the EVM in an encrypted space, offering smart contracts, decentralization, scalability, and encryption. 

TEN generates confidential roll-ups, aiming to provide efficiency similar to Optimistic-based L2 networks while maintaining full encryption. The network’s key features include programmable encryption, where any Ethereum smart contract can have both public and private states as well as shared state. It also allows developers to continue using Solidity and all Ethereum tools without modifications and providing users with a straightforward three-click setup to start using dApps on TEN. In addition, it features a unique, immediate bridge that operates without delay while maintaining complete decentralization.

Key customers and partnerships

Notable dApps deployed on its network include Architech, Flush, Galxe, Peerswap, Rubic, and Witnet.

Funding and financials

In March 2024, the company announced that it raised USD 9 million in funding over three stages spanning two years, with the most recent tranche being completed in December 2023. It had earmarked the funds to expand its team.