NuCypher is a data privacy layer for blockchain and decentralized applications (dApps). Through proxy re-encryption it enables dApp developers and enterprises to secure data. Proxy re-encryption is a type of public-key encryption whereby a proxy entity transforms ciphertexts from one public key to another without knowing anything about the underlying message.
The company believes its key management system (KMS) will be a key element to secure dApps in the same way that SSL/TLS is a part of secure web applications.
Use Case Example:
A project building a dApp in the medical industry is using IPFS (InterPlanetary File System) to store a patient’s medical records. NuCypher’s technology provides a way for these records to still be private, confidential, and encrypted but still sharable with appropriate parties such as with the patient’s doctor or hospitable.
TOKEN SALE / ICO
Token Sale Date: TBA
Presale: $4.3 million sold
Minimum Financing: TBA
Hard Cap: TBA
Token Supply: TBA
Whitelist: According to the NuCypher chat as of April 21, 2018, NuCypher has not officially begun whitelisting. The company will utilize Coinlist’s ComplyAPI for KYC.
Being in the Telegram channel or mailing list (although this does not guarantee a whitelist) . A time stamp on everyone’s entry will determine their spot in addition to commitment to operate a node.
- Additional details will be announced after the testnet is live.
Platform: ERC-20. NuCypher is a layer that sits on top of Ethereum but it is its own separate network.
📣 We're pleased to announce our #technology partnership with @originprotocol!! It's exciting to have the opportunity to provide the #data access control layer to the #decentralised sharing economy. Read @tbitls deep dive on what the partnership means: https://t.co/g0tD9cq1Fe
— NuCypher (@nucypher) April 11, 2018
Potential use cases listed in NuCypher’s primer include:
- Sharing encrypted files (“Decentralized Dropbox”)
- End-to-end encrypted group chat (“Encrypted Slack”)
- Patient-controlled electronic health records (EHR)
- Decentralized digital rights management (DDRM)
- Blind identity management
- Secret credentials management for scripts and backend apps
- Shared credentials and enterprise password management
- Mandatory access logging
- Mobile device management (MDM) and revocation
The re-encryption nodes in the network will require NuCuypher tokens to be staked. If a node is misbehaving, it can be challenged and have its stake forfeited.
June 13, 2017: Announcement of open source availability of NuCypher Kafka
Feb. 17, 2018: ETHDenver – Umbral showcase and Main Stage presentation
March 16, 2018: TokenFest – Lightning talk by MacLane Wilkison
March 17-18, 2018: MIT Bitcoin Expo
March 21, 2018: Announcement of Umbrel fufillment, a threshold proxy re-encryption scheme that powers the NuCypher KMS network
March 30, 2018: Silicon Valley Global Blockchain Investment Summit – Featured Panelist MacLane Wilkison
April 4, 2018: Global Big Data Conference – Keynote by Michael Egorov
April 17: Blockchain Silicon Valley Conference – Presentation by MacLane Wilkison
April 18: DataEngConf – Presentation by MacLane Wilkison
April 20: MacLane Wilkison was a guest on the Daily Crypto Podcast
April 23: Announcement of joining Enterprise Ethereum Alliance
Official Announcement: https://t.co/iWF02KrHmQ
— NuCypher (@nucypher) April 23, 2018
MacLane Wilkison – Co-founder, CEO (Former software engineer. Former Investment Banker at Morgan Stanley – LinkedIn)
Michael Egorov, PHD – Co-founder, CTO (Former senior software engineer at LinkedIn – LinkedIn)
NuCypher’s presale was completed in 2017. The website lists 15 investors.
- Polychain Capital
- Y Combinator
- Satoshi Fund
- FBG Capital
- Galaxy Investment Partners
- Hashed – Formerly, Blockchain Partners Korea
- Mission and Market
- Amino Capital
- Kenetic Capital
- Semantic Ventures
- Base Ventures
- Nima Capital
N/A as of April 24, 2018
Diddy Carter: A+
Midgard Research: 9 out of 10 “We expect both short-term and long-term growth from NuCypher because of a solid list of their partners and technology advantage.”
Tech Insider: 3.4 out of 5
MoNoico: 8 out of 10
ICO-Check: “Crowdsale after mainnet (Product will be functional on the Main network)”
Coindesk: “7 Tokens Investors Are Talking About”