Review NULINK ($NLK) – An innovative and impressive privacy-preserving technology solution for decentralized apps in next 2022
Nulink is a Blockchain-based cybersecurity technology platform. This phenomenon occurs at a time when data breaches represent a growing threat to privacy. Additionally, the NFTs market sales exceeded 2.5 billion in the first half of 2021, demonstrating that it is thriving and will continue to grow in popularity in the future.
What is Nulink?
Nulink is a Privacy-Preserving Technology platform for decentralized applications that allows users to remain anonymous (Daaps). The program will bring enterprise-class security solutions for developers, startups, small businesses, and enterprises to achieve this goal.
As its technical foundation, the Nulink technology platform comprises blockchain, access control (Proxy Re-Encryption, Attribute-Based Encryption), and secure computing (Zero-Knowledge Proof, Secure Multi-party Computation, Fully Homomorphic Encryption) technologies. It delivers data exchange and processing capabilities on an enterprise-wide scale.
The architecture of Nulink Network
Nulink is establishing a solid technological basis by combining best-in-class technologies. Integration of the Application Layer, the Cryptograph Layer, the Storage Layer, the Blockchain Layer, and the Watcher Network are achieved through this matrix. It is very effortless for Nulink users to integrate into a single API and gain access to various storage and blockchain solutions. The network has integrated NuCypher for key management. Bitcoin miners can earn $NLK by offering decentralized storage facilities, and they can earn $NLK by relaying information from ETH to the observer layer.
What is the project trying to achieve?
Privacy & encryption for everyone
Implementing protection and encryption of personal data is critical (and often expensive) in today’s world. So the project is intended to provide the world as a whole with an out-of-the-box encryption solution that makes it simple to integrate best practices, modern security, and the latest technological advancements. It will provide everything required, including data encryption, key and storage management, inter-blockchain deployment, and other features. All of them are based on five fundamental principles:
- Easy to implement
- Easy to manage
- Open source
- So secure that not even the system owner can read or see the data
- Easy for users to share data secure if they choose to
What is the problem Nulink is addressing?
‘Out of the box’ thinking
Currently, Endpoint encryption is a method of protecting a computer’s endpoints. Data should be encrypted as soon as it is received at the endpoint, and its storage should be decentralized. Even you, as the developer of the decentralized program, will not be able to gain access to users’ sensitive information. It will be simple to apply best practices encryption with the out-of-the-box solution the project is currently developing.
Efforts made in the community
Nulink is based on the concept of community and token economy. Users are welcome to use this solution at no cost to them.
Controlling who has access to what information
NuLink provides a user-friendly access control using cryptographic protocols such as PRE/ABE, supported by NuLink. Access can be allowed for a limited period of time, using various authentication methods, policies, and other parameters.
What is the unique selling point?
Encrypted NFTs trading market
To perform secure NFT trading, the transaction is broken into two parts: payment and NFT ownership transfer must be accomplished on-chain. Under the chain, the NFT transfer must be performed synchronously and securely. Alice initially encrypts and uploads its own NFT resources to Nulink Network, after which NFT can be safely sent to Bob via Nulink’s proxy re-encryption function. The mint process writes Alice and Bob’s encrypted NFT data to the blockchain. This step completes the on-chain transfer of NFT ownership.
How does NFTs trading market work?
Daniel Nilsson, Co-Founder of NuLink, explains how NuLink technology may be used to encrypt NFTs and deliver new, more innovative services and features for NFT trading markets.
Private NFT auctions
It would be feasible to set up private auctions where only a select few people could examine the artworks for sale, exactly like in the real world. The artist could organize special gatherings for their most ardent followers or collectors. To participate in a private auction, you must possess a piece of art by the artist or have a particular amount of ETH.
Private collections of the NFT
Make it possible for NFT art collectors to encrypt and safeguard their NFTs. Once the collector has secured their work, they can share access with anybody they want.
Allow NFT owners to encrypt one or more metadata containers for a given NFT and then provide access to that NFT. Alternative NFT collections containing sensitive data will be possible with this type of technology and execution.
Electronic health records storage and sharing
First, Alice accesses the Application Layer via the IOT device’s APP, selects the proxy re-encryption service, and authorizes it. After gaining authorization, the Nulink Alice Application Layer summons the Blockchain Layer to initiate and validate the transaction and pass data to the Cryptograph Layer. The Cryptograph Layer communicates with the Storage Layer to perform encryption operations and upload encrypted data. Only Alice can decrypt the encrypted data collected in this stage. To turn it to ciphertext that Bob can decrypt, the network will use proxy re-encryption via Nucypher’s Ursulas nodes. Following re-encryption, the encrypted data is transferred to the Cryptograph Layer on the Nulink Bob side and decoded directly.
NuLink has partnered with NuCypher and received funding from the Polkadot Web3 Foundation. Now, all Polkadot ecosystem users will find it simple to include our privacy-preserving services into their applications. Our core library and APIs will be released in version 1 in 2022 – Q2.
- Token name: Nulink
- Ticker: NLK
- Blockchain: Updating
- Token Standard: Updating
- Token type: Utility, Governance
- Smart Contract: Updating
- Total Supply: 1,000,000,000 NLK
We will update you soon right when there is official information!
Token Release Schedule
Mining: After the main network is launched, it will be mined linearly within four years. The new mining rules would be determined by Dao after 4 years.
BD & Community Incentivization: 2% of the total would be released after listing, and 3.6% would be released each season(All unlocked after 5 seasons).
Team: This portion would be released linearly within 30 months after the 3-month cliff.
Foundation: 3% of the total would be released after listing, and 2.4% of the total would be released each season(All unlocked after 5 seasons).
Seed round: 10% released TGE; the next batch will be released every three months in 12 months
Private round: 15% released TGE; the next batch will be released every three months in 12 months.
Strategy round: 20% released TGE; the next batch will be released every three months in 12 months.
Token use case
- Transaction fees: $NLK can be used to pay for network services.
- Payment : $NLK are used as a payment currency in NFTs Marketplace along with other tokens
- Staking: $NLK staking with receiving NFT items
- Governance: NLK token holders will be able to vote and participate in Nulink network’s decision-making
In the future, Nulink Ecosystem will update with more use cases for Nulink tokens.
How to own the token
They will have Community Airdrop (Follow their Twitter and join Discord Community for more information)
Market and Community
The actual truth is that the number of data attacks in the healthcare industry is increasing every year, threatening the lives of millions of people, including children. Such example is the attack on medical records to ransomware of more than 25,000 patients at a startup company in Finland in 2020. It can be observed that this is a promising market with big market size and is the target of numerous projects about security solution platform initiatives, including Nulink Network. The project has identified a means to store sensitive data more securely by integrating the feature and encrypting them in NFTs, and providing access only to chosen individuals.
We will update you more when there is more information!
With the information that Coincu indicated above, it can be seen that the project is supported to merge other blockchains and more powerful cryptography technology. All of these can help NULINK become more scalable for more scenarios. In addition, as one of the uncommon projects in data security, this is both an opportunity and a challenge for Nulink Network.
However, at present, the in-depth documentation has not been released as well as the number of members and the level of activity on the community channels of the project is still relatively limited. Coincu will strive to update the latest information for you to have a more general view.
Find more information about the project:
- Website: https://www.nulink.org/
- Telegram Group: https://t.me/NuLink2021
- Twitter: https://twitter.com/NuLink
- Discord: https://discord.com/invite/25CQFUuwJS
If you have any questions, suggestions, or ideas about the projects, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.