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NuCypher

NuCypher

NU
$0.01397Down 0.37 percent($0.00)

Key Stats

Market Cap$18.91MDown 0.37 percent
Volume (24h)$571.56
Fully Diluted Value$54.28M
Vol/Mkt Cap (24h)0.00%
Total Supply3.89B NU
Max Supply∞
Circulating Supply1.35B NU
Launch Date2020-08-30
Built OnETH
Token StandardERC20
Smart Contract Address0x4fE8…A4Cc
Decimal Places18

NuCypher Information

Websites
www.nucypher.comWhitepaper
Industries
Identity
Parent Asset
T

NuCypher Price Converter

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NuCypherUSDT logo
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NuCypher Supported Platforms

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Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
NUERC20ETH0x4fE83213D56308330EC302a8BD641f1d0113A4Cc2020-08-30

About NuCypher

NuCypher (NU) tokens are used on the NuCypher network to incentivize network participants for providing key management services and accessing delegation/revocation operations. NuCypher is a decentralized encryption, access control, and key management system for public blockchains, offering end-to-end encrypted data sharing and decentralized storage solutions. NuCypher uses proxy re-encryption (PRE) technology to securely share private data between multiple participants in public consensus networks. NU tokens are also used for staking to run a NuCypher worker node, participating in the NuCypher DAO, and validating DAO proposals. The NuCypher network is protected against malicious staking and automatically slashes suspected users' rewards.

Frequently Asked Questions

NuCypher (NU) is a cryptocurrency and decentralised encryption service. It provides cryptographic infrastructure for privacy-preserving applications, enabling developers to secure data and manage access to information on public blockchains. The NuCypher network uses proxy re-encryption technology, which allows encrypted data to be shared securely between parties without revealing the original decryption key.

NuCypher (NU) is used for several key purposes:

  • Data Encryption and Access Control: NuCypher offers end-to-end encrypted data sharing, allowing users to grant and revoke access to data securely.
  • Decentralised Applications (dApps): Developers can use NuCypher to build privacy-preserving decentralised applications that require secure data exchange.
  • Proxy Re-encryption: This technology enables encrypted data to be re-encrypted by a proxy server, allowing it to be shared with another party without exposing the original decryption key.
  • Key Management: NuCypher's protocol supports the secure management and distribution of cryptographic keys.
  • Staking and Incentives: NU tokens are used within the network for staking, where participants can earn rewards by providing encryption services and maintaining the network.

NuCypher was co-founded by MacLane Wilkison and Mikhail Egorov.