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What is Polkacipher?
PolkaCipher is a cross-chain privacy protection oracle project on the Polkadot ecosystem. The main goal of the project is to expand the applications of NFTs & DeFi and its utility in business and also increase the reach of Web3 applications in the blockchain economy through seamless integration into the project. , privately.
The project intends to bridge the gap between the traditional economy and the on-chain blockchain decentralized application, using PolkaCipher based on verified providers to provide accurate and reliable data.
PolkaCipher, when ready, will be fully community owned and decentralized.
Highlights of Polkacipher
- Privacy protection: PolkaCipher will apply Zero-Knowledge Proof to protect data and privacy for users. Data providers will use PolkaCipher’s encryption library for anonymity while continuing to provide a seamless connection to their data source.
- Data matching mechanism: PolkaCipher will use smart trackers to match input data with output data. These matching mechanisms will be tamper proof and will use a random VRF seed to achieve an irreversible end result.
Community Administration: The important decisions of PolkaCipher will be made by the community through a voting system to achieve complete decentralization. A community that actually owns Oracle on the blockchain.
NFT for Business Privacy: NFTs created on PolkaCipher can be used by businesses as legal documents in the form of a ledger or legal contract that will remain anonymous to the public. These NFTs can be tracked by the related party with full disclosure of details and partially/completely hidden from the unrelated party.
Multi-chain interoperability: PolkaCipher will be fully cross-chain compatible to provide a bridge that can transfer data securely and remain private at the same time.
- Featured products:
- Truss – Borrowing, lending, staking and mining platform. PolkaCipher’s ecosystem of DeFi features allows you to earn more CPHR by powering the network, building nodes to collect data.
- eData – Secure data collection for businesses: These are NFT-secured specialized crates that can only be accessed through the NFT as a key. These NFTs can be minted privately or publicly based on user choice. Users need to stake a certain number of tokens to activate the locker.
- bNFTs – Business-focused NFTs: bNFTs are privacy-enabled business document solutions that can be privately printed, distributed, and collected. bNFTs can also act as a legal document, transfer of ownership, access token, etc. with the option of private or public transaction.
- CipherDEX – bNFTs trading platform: CipherDEX will be privacy enabled dex, fully compatible with EVM chain and built on Polkadot, allowing anyone to privately and securely trade bNFT minted on Polkacipher network.
- Stable – Cross-chain Stablecoin Ecosystem for eData, bNFTs and Truss: PolkaCipher’s cross-chain stablecoin ecosystem will help users secure, donate, mint or transfer bNFT using any stablecoin available on the PolkaCipher SuperStable ecosystem.
- Token name: CPHR Token
- Ticker: CPHR
- Blockchain: Updating…
- Token Standard: Updating…
- Token type: Governance, Utility
- Total supply: 1,000,000,000
- Initial Circulating Supply: 52,760,000
- Initial Market Cap: ~1M USD
- Token Sale: 18.9%
- Staking, Growth, Ecosystem: 44.5%
- Liquidity Provider: 8.8%
- Marketing, Legal: 6.8%
- Advisors: 6%
- Team: 15%
Token Release Schedule
Token Use Case
CPHR tokens are used for many purposes:
- Use CPHR to bid on monthly ADP (General Data Provider) auctions.
- The revenue of the oracle node is subsidized by a portion of the tokens reserved for mining. Once the mining cycle is complete, the data can be accessed through the staking CPHR.
- Each month, the amount of mining fees is released linearly and the mining revenue is shared based on the percentage of data provided by ADP.
- CPHR can be used in conjunction with other stablecoins to fund NFTs for transactions or used as collateral for loans.
- System management
CPHR Tokens are traded on which exchange?
The current CPHR token is IDO on the TrustPad platform
Storage wallet CPHR token
Can be stored on Coin98 Wallet
Potential assessment of Polkacipher (CPHR)
- Tim Rainer – CEO: known in the Blockchain and Cryptocurrency industry as a visionary leader since 2015.
- Laurence Diederich – Chief Strategy Officer: with his years of investing and acquiring many projects, he has helped the development of startups from national enterprises to startups operating globally, Laurence is the perfect Chief Strategy Officer to make PolkaCipher a global blockchain application.
The project received investment of more than 2 million USD from big ventures such as Node Kapital, Ausie Capital, Blackpact Capital, Blockstar Technologies, MoonWhale, X21, etc.
The project has announced partnerships with Latitude Blockchain Services, Launchpool, Tokenova…
- R&D products
- Team building
- Writing documents and building social media
- Token sales and listing
- Alpha board version
- CipherDex – v1.0
- Exchange listing
- Onboarding Data Vendors
- CipherDex – v1.1
- Mobile App – v1.0
- p2p private NFT
- Exchange listing
- Multi-wallet integration
- CipherDex – v1.2
- Mobile App – v1.1
- Crosschain on BSC and Polygon
- CipherDex – v1.3
- Mobile App – v1.2
Community & Social
PolkaCipher is a next-generation privacy oracle network based on Polkadot – an ever-blooming ecosystem. PolkaCipher wants to extend Web3’s reach to real-world businesses.
Core features include NFT Privacy, Community autonomy-based Data Aggregation mechanism, and general privacy protection for Defi applications. This is an approach with few projects participating, hoping with the advantage of the project leader to develop and become an important part of Polkadot ecosystem.
Above is an article to share what PolkaCipher is, if you have any questions or concerns about the project, you can comment below so we can discuss it together.
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