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NU Price
$0.89174
-1.29%
24H Price Chart
Market Cap
$619.98M
24H Volume
$128.97M
Table of Contents
Bybit
Market Cap $619,979,618
24H Volume $128,974,817
Circulating Supply 695,250,000 NU
Total Supply 1,355,536,698 NU
Quadency
1H -0.35%
24H -1.29%
7D +4.64%
1M -16.4%
All-Time High $0.69716
% from ATH -61%
ATH Date Mar 20, 2021

What is NuCypher?

NuCypher is a decentralized threshold cryptography platform that provides data privacy, access control, and other cryptographic services to decentralized applications and protocols. The network currently supports threshold proxy re-encryption and is extensible to other threshold cryptography primitives like threshold signatures (TSS), distributed key generation (DKG), Shamirโ€™s secret sharing (SSS), and proxy re-signing (PRS).

NuCypher is a layer 2 resource allocation protocol on Ethereum that uses a Proof-of-Stake (PoS) mechanism to coordinate worker nodes.

NU is used for:

  • Staking to run a NuCypher worker node. Proper behavior is ensured via staking, with malicious nodes subject to slashing penalties.
  • Participating in the NuCypher DAO, which controls network parameters and smart contract upgrades. Users that are staking NU can validate DAO proposals.

NuCypherโ€™s cryptographic libraries can be found onย the projectโ€™s GitHubย and include:

  • pyUmbral, the reference implementation of the Umbral threshold proxy re-encryption scheme
  • NuBLS, a threshold BLS signature library
  • rust-umbral, a Rust implementation of Umbral with bindings to JavaScript and Python

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