What is NuCypher (NU)? Detailed information about NU cryptocurrency

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2021-12-26 21:46:04

What is NuCypher?

NuCypher is a blockchain infrastructure for Web3, to create a layer of security for blockchains. It helps dApp developers secure their data on the blockchain by end-to-end encryption of them.

NuCypher allows users to grant and conditionally revoke access to data with multiple users at the same time. NuCypher provides a solution for applications that involve the transfer of sensitive data but also want to take advantage of the trustless and censorship-resistant nature of public blockchains.

Highlights of NuCypher

Technology

NuCypher uses 3 main technologies to create a layer of security on blockchains:

  • Proxy Re-Encryption (PRE): A type of public-key encryption that allows an authorized entity to convert or re-encrypt data from one public key to another without having access to the private key ( private-key).

  • NuBLS: Is a BLS signature library that implements threshold protocols like threshold signature (TSS) and Proxy Re-Signature (PRS) algorithm designed by NuCypher called Penumbral (paper in progress).
  • NuFHE: A library that allows secure, arbitrary computation on encrypted data (meaning that encrypted data can be processed without needing to be decrypted first). Operations on the encrypted data are applied as if performed on the original data.

nucypher-fhe

Solution

Thanks to the above technologies, NuCypher can:

  • Allows users to securely share and store personal data and files on public networks from which to develop decentralized and secure applications such as chat systems with encrypted messages, Nubox – 1 application to store encrypted files…
  • Enable end-to-end encrypted data sharing on public blockchains (Ex: Ethereum) and decentralized storage solutions (Ex: IPFS).

NU Tokennomics

Key Metrics

  • Ticker: NU
  • Blockchain: Ethereum
  • Token Standard: ERC20
  • Contract: 0x4fe83213d56308330ec302a8bd641f1d0113a4cc
  • Token type: Utility
  • Total Supply: 3,885,390,081 NU
  • Circulating Supply: 638,646,038 NU

Token Allocation

  • Stakers & Nodes: 74.3%
  • SAFT: 10%
  • Company: 5.1%
  • Team: 2.7%
  • WorkLock: 5.8%
  • Ecosystem: 1%
  • University stakers: 0.5%
  • Incentivized testnet: 0.3%

nucypher-token

Token Release Schedule

nucypher-release

Token Use Case

  • Utility: Nu is a native token on the NuCypher network and is used to pay for all services and transactions.
  • Staking: Participate in running validators nodes to receive rewards

Token Sale

Updating…

NU token On which exchange is it traded?

NU is currently traded at most exchanges such as Coinbase, Binance, Huobi, OKEX, MEXC…

How to earn and own NU Token

Join stake NU tokens to become Validator Nodes of the system to receive NU rewards.

Wallet to store USD

Can be stored on Coin98 Wallet or MetaMask.

Enter Coin98 Wallet Referral ID as “C98NBDN89Q” to support BTA.

Team

The team includes members who are computer science engineers with good expertise in the field of blockchain, encryption:nucypher-teamIn addition, NuCypher also receives mentorship from leading professors and doctors, including:nucypher-advisor

Investor & Partner

NuCypher has raised a total of nearly $15M from rounds with the participation of large investment funds including: Polychain Capital, Statoshi Fund, Fibig Capital, Coin Fund, Hashed,..nucypher-partners

Roadmap

Updating…

Community & Social

summary

Currently, the Web3 trend is increasingly blooming, all data will be stored distributed on different blockchains. Therefore, the need to secure sensitive and important data on these distributed data systems is increasing. NyCypher has solved this problem and created a comprehensive solution for users to share information securely and completely privately.

Above is the article sharing what is NuCypher? All knowledge is for reference only and is not investment advice, any decision to buy, sell or participate in investment, readers must decide for themselves. Thanks!

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