What is NuCypher (NU) Coin
NuCypher enables public networks and dApps to access a data encryption and protection layer without having to rely on a central service provider. The “decentralized Key Management System” (KMS) allows users to securely store and manipulate private, encrypted data.
- NU is an ERC-20 utility token of NuCypher and is used in the following functions:
- Network incentives: Network participants are incentivized to perform key management services and access delegation / revocation operations on the network.
- Staking: Stake NU tokens to run a NuCypher worker node and earn inflation rewards (NU) and policy fees (ETH). Note that staked NU tokens can be slashed if the corresponding worker misbehaves.
- Governance: Participation in the NuCypher DAO, powered by Aragon.
- The protocol consists of the following major components:
- Staker nodes: NU tokens can be locked into the “Staking Escrow “ contract for a defined duration to generate two income streams: inflation rewards (NU) and policy fees (ETH). To ensure the network’s integrity and service quality, staked NU can be slashed if the corresponding worker misbehaves.
- Worker nodes (Ursala): Worker nodes carry out threshold cryptography operations and are performing work on behalf of a Staker. Workers must remain online to provide uninterrupted services on-demand.
- Umbral proxy re-encryption (PRE): Proxy re-encryption (PRE) is a type of public-key encryption (PKE) that allows a proxy entity to transform or re-encrypt data from one public key to another, without having access to the underlying plaintext or private keys. This enables private data sharing across public blockchains and decentralized networks.
- As at June 4th 2021, the maximum token supply of NU is 3,885,390,082 and the current circulating supply is 648,750,000 (~16.7% of max token supply).
How To Buy NuCypher (NU) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Nu coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy NuCypher coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a NuCypher (NU) Coin
NuCypher (NU) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
NuCypher (NU) Coin Review
You can learn more about NuCypher (NU) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://www.nucypher.com/ Whitepaper https://github.com/nucypher/whitepaper/blob/master/whitepaper.pdf Github https://github.com/nucypher/ Medium https://blog.nucypher.com/ Documentation https://docs.nucypher.com/en/latest/index.html Telegram https://t.me/nucypher Discord https://discord.com/invite/7rmXa3S Youtube https://www.youtube.com/channel/UC-BQfqCN2_Icg_0MGAvCd9w/videos