NuCypher operates is a cryptographic infrastructure built for preserving the privacy of applications within the blockchain ecosystem. The project was founded in 2015 but only moved towards blockchain-based technology, in particular smart contracts, in 2017. 

Developers can leverage the technology to manage private data and store and share confidential information. Essentially, the protocol adds a layer to blockchains which allow developers to integrate into their applications and grant permission to sensitive information. This includes secrets management and dynamic access control.

NU is the platform’s native cryptocurrency. It has a total supply of 3885390082.

What are NuCypher’s key features and how does it work?

NuCypher has developed two key types of technology that play vital roles in the platform’s operation. These are Umbral, an encryption scheme, and Ursula, NuCypher’s node network. In more detail, Umbral facilitates user privacy by allowing participants to keep their data safe and share it securely. 

Data owners can give rights to data receivers for decryption, this is done via Ursulas which are able to re-encrypt data. Ursulas themselves do not have access to the data themselves, they simply facilitate the process of unlocking the data.

In order to be able to operate as an Ursula, network participants must stake NU. They earn NU in return and as an incentive for providing their services. 

What can NuCypher be used for?

NuCypher has a broad range of use cases thanks to its interoperability. This includes managing infrastructure secrets across differing environments, for example, enabling the storage of encrypted secrets in backend storage as well as access granting to secrets. Secrets include passwords and private keys.

NuCypher can also be used for allowing dynamic access control. This extends to facilitating dynamic granting and revoking of access to specific sets of data.

Where can you buy NU?

NU is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are CoinBase Pro, Uniswap V2, and Gate.io. The price of NU will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for NU market prices, please view the price charts on this page.