NuCypher Price Chart Update [NU]

The NU price update as of now is $0.1093. In the previous 24 hours, its trading volume was $13,417, and its value has decreased by -5.36%. As of now, NU's live market cap is $147,767,940, and it is ranked as the #775 on the Coincu. NU has a circulating supply of 3,885,390,082 and a maximum supply of 3,885,390,082.

The Advantages of NuCypher NuCypher is a groundbreaking project in the field of Blockchain Services that aims to redefine distributed systems' Proxy re-encryption. It acts as a decentralized key management system (KMS) that offers encryption and access control. With NuCypher, users can securely share their private data without the fear of interception by unauthorized parties. The project encourages individuals and organizations to join the key management system to protect their valuable data and information. The Importance of NuCypher NuCypher tackles a significant challenge faced by customers, businesses, and countries when it comes to communication and the sharing of sensitive data. Currently, there are two common methods of communication: "symmetrical" and "asymmetrical". Symmetrical communication involves using a fixed key to encrypt and decrypt data during transmission. Asymmetrical communication involves using two different types of keys: the Public Key and the Private Key, to enhance data security. The existing communication process utilized by web client services and proxies combines both symmetric and asymmetric keys. Using a symmetric key ensures faster transmission. However, this method is susceptible to hackers who can intercept and decrypt the symmetric key if data is transmitted frequently. Using an asymmetric key provides higher security but slows down the encryption speed and prolongs the transmission process. The use of these methods presents several issues: An increased risk of malicious information compromising the computers of customers, businesses, and countries. The vulnerability of customer and business data to hacking and theft. The exposure of sensitive data shared between customers, businesses, and countries to potential hackers. Innovative Solution by NuCypher To address the aforementioned challenges, the development team behind NuCypher has utilized Blockchain technology to implement Umbral for proxy encryption. Here are the key features of this method: Effective filtering of malicious information that could potentially compromise customer computers. Enhanced data security for customers, businesses, and countries, safeguarding them from hackers. Prevention of unauthorized access to shared information among customers, businesses, and organizations. NuCypher enables businesses to take advantage of secure cloud services for data storage. Future Development Plans Updates coming soon... For more information regarding NuCypher, click here.