Cryptocurrency NuCypher (NU) — Detailed review
NuCypher — This is a decentralized encryption, access control, and key management system (KMS), an encryption service for public blockchains. The project offers end-to-end public blockchain encrypted data exchange and decentralized storage solutions. NuCypher price prediction 2025 and NuCypher price prediction 2030 are therefore quite optimistic.
The NuCypher platform allows users to share personal data between multiple members of public consent networks using proxy re-encryption (PRE) technology. This allows dapp developers to store, publish and manage private data in publicly accessible blockchains. In the bear market, NuCypher price today is quite low. But since NuCypher coin price predictions are encouraging, it makes sense to make an investment.
Features of the NuCypher project. What affects the NuCypher price chart
Project allows data to be exchanged and shared across multiple public networks such as IPFS or S3 in a scalable environment. Sensitive information, such as medical data, is stored on a blockchain and protected with private keys. NuCypher will be an integral part of decentralized applications, just as SSL/TLS is an integral part of any secure web application.
The network provides accessible, intuitive and extensible runtime environments and interfaces for secret management and dynamic access control.
NuCypher is already used by several companies, including MediBloc, an open-source medical data platform, and Datum, a decentralized NoSQL database with blockchain support. Also, the Origin Protocol decentralized marketplace will use NuCypher as part of its internal exchange system. This will have a positive impact on NuCypher price predictions tomorrow.
NuCypher price predictions tomorrow: How does the platform work?
The difference between NuCypher and existing encryption projects in the corporate sector today is its decentralization. There is no single key provider — keys are generated by nodes.
NuCypher price prediction 2030. Examples of use cases
NuCypher KMS allows public blockchains to securely store and manipulate secrets, giving decentralized applications the ability to handle private data. But key management as a service is also useful for centralized applications.
Potential uses include:
- KMS-as-a-service for handling secrets in AWS instances (similar to Hashicorp Vault, Amazon Key Management, etc.).
- Secure storage of encrypted secrets along with code on GitHub.
- Decentralized Digital Rights Management (DDRM).
- Pay-per-view streaming.
- Markets for encrypted digital content.
- Private multi-user chat rooms.
- Patients share medical records with health care providers.
- Blind identity management.
- Shared file storage.
- Mobile device management and recall.
Outlook and NuCypher future price prediction
Unlike most blockchain projects that are designed for customer service, transaction enhancement, Internet of Things, transactions, voting mechanisms and the like, the NuCypher project was created for other blockchains.
NuCypher provides a privacy infrastructure for a decentralized network using proxy re-encryption (PRE) and fully homomorphic encryption (FHE) technologies. Access control is fully decentralized and does not rely on a central service provider.
It also uses a new proxy re-encryption technology, allowing re-use of encrypted data. This allows a decentralized network of nodes to perform key management operations without access to private keys or public text data.
NuCypher coin live price will grow because the project is targeted at real-world use and has multiple use cases, and the re-encryption proxy technology provides the highest security. The project has good prospects and we recommend you to take a closer look at it. From an investment point of view, the project is rather interesting in the long term.