About NuCypher
NuCypher (NU) is the native cryptocurrency powering the NuCypher network—a decentralized encryption and key management system for public blockchains. The NU token incentivizes network participants who provide cryptographic services like secure data sharing, access control, and proxy re-encryption.
Key Features of NuCypher
- Decentralized Encryption: Enables end-to-end encrypted data sharing on public blockchains.
- Proxy Re-encryption (PRE): Safely shares private data between multiple parties without exposing decryption keys.
- Staking Mechanism: NU tokens are staked to run worker nodes, validate DAO proposals, and earn rewards.
- DAO Governance: Holders participate in decentralized decision-making for protocol upgrades.
👉 Discover how NuCypher enhances blockchain privacy
Primary Use Cases of NU Tokens
1. Secure Data Sharing
NuCypher’s encryption protocols allow users to:
- Grant/revoke access to encrypted data dynamically.
- Share sensitive information across decentralized applications (dApps).
2. Privacy-Focused dApps
Developers leverage NuCypher to build:
- Secure messaging platforms.
- Confidential healthcare data systems.
- Enterprise-grade decentralized storage solutions.
3. Proxy Re-encryption Technology
- Re-encrypts data via proxy servers for authorized recipients.
- Eliminates the need to share raw decryption keys.
4. Staking and Network Security
- Stake NU to operate worker nodes and earn rewards.
- Malicious actors are penalized through slashing mechanisms.
Founders and Background
NuCypher was co-founded by:
- MacLane Wilkison (CEO)
- Mikhail Egorov (CTO)
Their vision combines cryptographic innovation with decentralized governance to redefine data privacy in Web3.
FAQs
What is NuCypher (NU) used for?
NU tokens facilitate encryption services, staking, and governance within the NuCypher network.
How does proxy re-encryption work?
PRE allows intermediaries to transform encrypted data for new recipients without accessing the original content.
Can I earn rewards with NU?
Yes—by staking NU tokens to support network operations and validate transactions.
👉 Explore NuCypher staking opportunities
Is NuCypher compatible with Ethereum?
Yes, it integrates with Ethereum and other EVM-compatible blockchains for dApp development.
Who governs the NuCypher network?
A decentralized autonomous organization (DAO) composed of NU token holders.