Nucypher
Name
Nucypher
Summary
NuCypher provides a data encryption and protection layer to public networks and decentralized applications (dApps) without the need for a central service provider.
It was founded by Mikhail Egorov and MacLane Wilkison
It is built on ethereum mplatform.
Rating
Symbol
NU
Overview
NuCypher is a public blockchain encryption service that uses a decentralised encryption, access control, and key management system (KMS). NuCypher provides decentralised storage and end-to-end encrypted data sharing on public blockchains.
Using proxy re-encryption (PRE) technology, NuCypher allows users to communicate secret data amongst a number of participants in public consensus networks. According to NuCypher, this decryption technology makes NuCypher significantly more secure and protected than other blockchain projects that use public-key encryption.
Users can conditionally grant and withdraw access to data with numerous users using the NuCypher network. NuCypher's encryption service offers nearly unrivalled protection for sensitive data transmission. It combines this with the censorship-resistant and trustless features of traditional public blockchains.
Historical Price Movement (in INR)
Technology
NuCypher is an Ethereum layer 2 resource allocation system that coordinates worker nodes using a proof-of-stake (PoS) mechanism.
The network is powered by NuCypher's WorkLock, a new node distribution method. A minimum of 2,000 node operators would need to stake 353,913 to run a NuCypher node.
30 days is the minimum lockup staking time. NuCypher, on the other hand, does not promise that staking for more than a year would result in bigger profits. Staking rewards are automatically restaked after each period unless the user opts out after a staking term.
Use of Native tokens in the ecosystem: The NuCypher (NU) native tokens are utilised on the NuCypher network. The tokens are used to reward network participants for performing critical management activities and gaining access to the network's delegation/revocation procedures.
Token Allocation
NA
Volume ( as of 2nd May 2022)
$26,486,992
Total Supply
1,380,688,921 NU
Circulating Supply
703,000,000 NU
Crowd Sales
NuCypher has raised a total of $15.9M in funding
Funding
15/04/2018: Venture Round- $10.7M
12/12/2017: Venture Round-$4.4M
18/10/2017: Non Equity Assistance- NA
22/03/2017: Non Equity Assistance- NA
9/08/2016: Seed Round- $750K
Country
USA
Name of Organisation
Nucypher
Year Incorporated
2015
Registered Address
100 Van Ness Avenue, San Francisco, CA 94102, United States
Dispute Resolution and Governing Law
USA
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Michael Egorov | Co-Founder | Moscow Institute of Physics and Technology (State University) (MIPT): Bachelor's degree, Applied Mathematics and Physics | 14 Yrs |
| MacLane Wilkison | Co-Founder | NA | NA |
