Odaily News privacy infrastructure provider Fairblock completed a $2.5 million pre-seed round of financing, led by Galileo, with participation from Lemniscap, Dilectic, Robot Ventures, GSR, Chorus One, Dorahacks and Reverie. Fairblock aims to make conditional decryption and pre-execution privacy a reality. Conditional decryption refers to allowing users to set conditions that enable the protocol to execute transactions without revealing any on-chain information before execution. Unlike zero-knowledge (ZK) technology, Fairblock is designed so that information is only encrypted or decrypted under specific conditions. Fairblock co-founder Peyman Momeni said applications such as sealed bid auctions, randomness generation, private governance, crypto limit orders and more can all be built on top of its infrastructure using crypto libraries. Momeni said Fairblock is built using the Cosmos SDK, but is not limited to the Cosmos ecosystem. The blockchain was recently upgraded to a second private testnet, with a public testnet launching soon. (Blockworks)