What is NuCypher?
NuCypher is another cryptographic innovation that help to improve privacy for distributed decentralized network. NuCypher uses umral threshold proxy re-encryption network that widely available as open source. Project mainstream features are secrets management, dynamic access control and secure computation. Under this feature user can easily secure token, database, certificate, credentials and other. as dynamic access gives freedom to put conditional access for private and sensitive data. moreover, network also support other cryptographic innovation including TSS, DKG, SSS and PRS.
Nucypher uses 2-layer structure where their protocol relies on Ethereum network for introducing Proof of Stake (PoS) Mechanism. It ultimately solving many existing problems in decentralized application (dApps) and private data. however, project primary aim to provider better privacy to developers, as its libraires easily already uploaded GitHub for permission-less use.
NuCypher working as it explained on their portal, in that data provider gives access their encrypted data with data seeker. As network plays important role from receiving policy details with re-encryption key. Network also able to perform transaction that include payment for data exchange and rewards in token. every policy created by user will have associated encryption key that can be used by any entity. In the network data recipient can have access of encrypted data from its storage and also send request to network. NuCypher also known as ursulas that enable user to earn fees and rewards in token for performing different operation in ecosystem.
NuCypher Price Prediction
|Month & Year||NU Price Prediction|
|Based on||Privacy Blockchain|
|All-time high||$0.35 USD|
|Exchange Platform||Coinbase Pro, MXC, uniswap, BKEX, Hotbit, Hoo, Gate.io, 0x Protocol, BigOne, 1inch Exchange.|
NU ICO Overview
|Raised by||$125,640,000 USD|
|Date of ICO||30th September 2020|
|ICO Price||$0.13 USD|
|Partners||Polychain, Satishi Fund, CoinFund, Kenetic Capital, compound, Galaxy, 1kx, ashed, amino capital, base, nima capial, FBG Capital.|
NuCypher Price Analysis
NuCypher Token i.e. NU is Ethereum network-based utility token that enable different key feature on the platform. NU token used for staking to running worker node and participating in DAO, as network user also can also control network parameter and upgrades. However, participant who run nodes can earn fees for simply performing cryptographic function and maintaining network. NU token got huge response in ICO, despite having long awaited launch, as it $125 million worth in ETH staking. currently NU having more than 2000 node operator actively staking for rewards in token. comparing ICO price NU able to surge 2x after listing on trading platform. Coinbase, Uniswap, MXC currently holding maximum transaction and hopefully other platform will list NU in future.
Will NuCypher Reach $10 USD?
Most probably after 2022.
Is NuCypher a Good Investment?
Comparing its ICO value with today price then it could be best investment before 2021.
NuCypher was one of the most awaited projects that finally ended up by launching on Ethereum mainet. However, project was announced when there was evolution of blockchain was recognised. Team behind project was published whitepaper back in 2017, two of them was participated in U.S. start-up accelerator y combination in 2016. As per the report network launched with the Worklock and now it continues its successor with over 350k+ ETH staking recorded. As project is very close to enter in top 200 crypto project with million worth market volume.