What is the NuCypher? NuCypher is a software program that aims to add security and anonymity to decentralized apps built on public blockchains like Ethereum. The mechanism, termed a decentralized key management system (KMS) by its creators, promises to give users access to private data that is saved, shared, and controlled on public blockchains. Furthermore, developers will be able to store, exchange, and manage private data, Nucypher also works with the goal of adding an interoperable security layer to diverse blockchains so that developers can give permission to sensitive data across multiple dapps. NuCypher also allows users to manage a variety of computational secrets, including IAM tokens, database credentials, and secure shell (SSH) credentials for remote access to servers.
NuCypher also allows users to grant and withdraw data access to any number of recipients on a conditional basis. Users can also process encrypted data, which ensures that transaction inputs and computation outcomes remain private. Furthermore, the NuCypher Network offers an intuitive and accessible platform with expandable runtimes and interfaces as well as dynamic secret management control.
Two main services are available on the platform:
Secrets Management: The program protects sensitive information such as passwords and private keys by storing it in a secure location.
Dynamic Access Control: Access to sensitive data is granted and revoked on a conditional basis.
How does the Nucypher program work?
NuCypher secures the private data of public blockchains and provides encrypted services to a number of protocols.
Through Umbral, the platform’s encryption method, and Ursula, a network of running nodes, the platform provides a closely guarded management system for secret assets and dynamic access control services.
You may ask, what are the Umbral and Ursulas?
Umbral uses nodes to encrypt and decrypt information without getting access to it. Your private key can be saved, but it will not be visible during this procedure. The personal encryption key will only be available to you.
Ursula is in charge of the NuCypher network’s management and control. Encrypted nodes are also used to enable staking, mint more tokens, and run the platform on a day-to-day basis. To be a node operator, all you have to do is deposit your NU tokens. You’ll be compensated in both Ether (ETH) and NU tokens for your work.
The NuCypher Token (Nu)
NU is the NuCypher protocol’s native token. NU token holders gain rewards by putting in the coin to run worker nodes, which is an Ethereum-based token with numerous applications. You can run a node and gain frequent bonuses when you stake NU on the network. When you assist and execute encryption services for network users, you will be awarded with a specific amount of Nu. Holders of the NU coin can also help improve the NuCypher protocol, which is a completely decentralized network. They have the ability to submit proposals, vote on them, and disburse cash for new initiatives.
225 million NU tokens have been distributed by the WorkLock, This was utilized to build the NuCypher network, which allowed users to stake Ethereum and earn NU tokens in exchange for protecting the network. NuCypher nodes can obtain staking incentives for NuCypher by doing so. Every month, NuCypher nodes are rewarded with NuCypher stake incentives.
NuCypher Coin Overview and History
NuCypher was developed and co-founded in 2015 in San Francisco by Michael Egorov and MacLane Wilkison. They created the program to fulfill their desire to help consumers securely transact data with cloud providers. In 2017, the NuCypher team decided to focus on smart contracts as a new application for their technology.
In 2018, NuCypher’s private testnet became operational, while the public testnet became live in October 2019. Following that, NuCypher’s mainnet was launched in October 2020, with $45 million in NU tokens distributed to participating nodes.
|NuCypher Current Price||$0.17|
|Price Change (24hrs)||-$0.0001656 (down by 0.10%)|
|24h Low / 24h High||$0.157 / $0.16|
|Trading Volume (24hrs)||$956,246.17 (down by 48.02%)|
|Volume / Market Cap||0.00856|
|NuCypher Market Cap||$111,716,612.20 (up by 0.01%)|
|Fully Diluted Market Cap||$617,443,267.50 (up by 0.01%)|
|All Time High (Oct 15, 2021)||$3.58 (down by 95.56%)|
|All Time Low (Nov 27, 2020)||$0.0611 (up by 160.09%)|
One billion NU was introduced at the time of the mainnet’s introduction, with 39 percent of the token going to early investors and another 8% going to SAFT investors.
The NU price soared in June 2021 after it was announced that it would be listed on Binance. On Oct. 15, 2021, the token hit an all-time high of $1.59, a 440 percent increase ahead of news of its imminent merger with Keep. On November 27, 2020, the NU price hit an all-time low of $0.0611.
NuCypher Price Forecast
With its major focus on blockchain privacy, NuCypher helps the seamless operation of many other blockchain networks. The NuCypher coin has a variety of applications, indicating that it has good fundamentals. However, will it stand the test of time? Let’s take a look at what the future may potentially mean for the Nucypher token.
There is obviously a huge need for low-cost cloud services and blockchain data security methods. This demand is projected to rise in the future as the decentralized economy grows. In the crypto world, the number of data breaches and hacking incidents has risen dramatically in recent months. With this move, NuCypher has established itself as a serious player in the field of blockchain security. These variables may cause NuCypher to climb, making it an attractive investment opportunity.
Companies and organizations that are beginning to embrace blockchain technology will definitely appreciate its capacity to grant and revoke access to data on the network, as well as its ability to deny access to data on the network. Could now be the right time to get into space? Time will tell.
The NuCypher protocol employs a variety of creative ways to address issues plaguing the blockchain industry. In a single day, on October 15, 2021, the NU token increased by 1000 percent! The team’s announcement of a merger added to the momentum. Is there a chance that may happen again soon?
Technical analysis of the NuCypher price chart reveals that the NuCypher token has been in a bearish trend in recent months. For the past two months, it steadily decreased, falling 10.83 percent in the last seven days. The NuCypher price has been led by negative sentiments, weakening the trend. Despite their optimism for the coin’s future, investors have yet to begin purchasing the token because of the NU price drop.
Although a 1000 percent increase in coin value is unlikely, we can expect a decent bullish run in the future
If you’re considering investing in this cryptocurrency, technical analysts believe now is the right time. It’s important to keep in mind that the cryptocurrency market is quite volatile. Trading cryptocurrencies carries a high level of risk, so make sure you do your homework first.
NuCypher Price Prediction
NuCypher Price Prediction for 2022
According to NuCypher, the maximum price of NuCypher in 2022 will be $0.6, with an average of $0.56. The NuCypher price forecast for the immediate term is optimistic!
NuCypher Price Prediction for 2023
The NuCypher cryptocurrency price prediction starts at $0.68. The NU price forecast is steadily rising, with a target of $0.8 in the first quarter of the year. By the end of the year, the NuCypher coin price is expected to be $0.72.
NuCypher Price Prediction for 2025
The price of NU crypto is expected to begin at $0.98 in 2025, $1.15 is expected to be the maximum price.
NuCypher Price Prediction for 2030
According to our NyCypher price projection, the price of NuCypher could reach $5. The maximum value will be $5.62 by the end of the year! While the year’s minimum and average prices will be $4.47 and $4.89, respectively.
Frequently Asked Questions (FAQs)
What is the current value of the NuCypher token (Nu)?
As at the time of this writing, the value of the NuCypher token is $0.17.
What will the NuCypher token (Nu) be worth by the end of 2022?
By the end of 2022, the price of the NuCypher could reach a maximum value of $0.66.
What will the NuCypher token (Nu) be worth in 2025?
In 2025, NuCypher could beat the latest trends and reach new highs amidst a bullish trend. It is predicted that the value of the token will cross $1 and may get to a maximum price of $1.15.
Where can I buy NuCypher coins?
There are many cryptocurrency exchanges where you can purchase the NuCypher tokens. Some examples of these exchanges are Binance, Coinbase, Huobi, gate.io, OKEx, etc.
Thanks to a robust trend, NU appears to be on track to end the year on a positive note. These are only a few of our platform’s well-known specialists and analysts’ technical assessments and views.
The current technical price analysis is used to evaluate the presented values, which are based on observational data. So, before you go into investment, make sure you’ve done your homework.