NU

Aspect	Information
Short Name	NU
Full Name	NuCypher
Founded Year	2017
Main Founders	MacLane Wilkison, Michael Egorov
Support Exchanges	Binance, Huobi, KuCoin, CoinList, OKEx
Storage Wallet	Metamask, Ledger, Trezor

Overview of NU

NuCypher (NU) is a decentralized encryption, decryption, and key management system, established in 2017 by MacLane Wilkison and Michael Egorov. It operates as an Ethereum token, offering an encrypted data exchange to enable private data sharing in public networks. Its main use-case is to provide cryptographic infrastructure for privacy-preserving applications. It is available for trade on several exchanges including Binance, Huobi, KuCoin, CoinList, and OKEx. For storage, it is compatible with wallets such as Metamask, Ledger, and Trezor.

Pros and Cons

Pros	Cons
Decentralized encryption and key management	Reliance on the Ethereum network can lead to high transaction fees during peak times
Allows private data sharing in public networks	Lesser recognition and adoption when compared to more established cryptocurrencies
Supported on popular exchanges	Performance is correlated with the success and performance of the Ethereum network
Compatible with well-known wallets	More complex technology which may require users to have a higher level of understanding

Pros of NuCypher (NU):

- Decentralized Encryption and Key Management: NuCypher offers an innovative system for encryption, decryption, and key management. Being decentralized, it eliminates the need for a central authority or intermediary for the secure handling of keys, providing more control to the end user.

- Allows Private Data Sharing in Public Networks: NuCypher enables private data to be securely shared across public networks. This preserves the privacy of user data even when operating in a public, decentralized environment.

- Supported on Popular Exchanges: NU tokens are traded on various popular exchanges like Binance, Huobi, KuCoin, CoinList, and OKEx. This wide exchange support enhances its accessibility for interested users globally.

- Compatible with Well-Known Wallets: Metamask, Ledger, and Trezor — three of the known wallets in the crypto space — support NU tokens. This enables users to easily store, manage, and transact their NU tokens.

Cons of NuCypher (NU):

- Reliance on the Ethereum Network: As an Ethereum token, NuCypher's operations depend on the Ethereum network. High traffic on the Ethereum network can lead to increased transaction fees, impacting the profitability of transferring or trading NU tokens.

- Lesser Recognition and Adoption: Compared to more well-established cryptocurrencies, NuCypher has a relatively lower level of recognition and market penetration. This may reflect in its market performance and user adoption rate.

- Performance Correlated with Ethereum: Much like its reliance on the Ethereum network for operations, NuCypher's market performance and value are also tied with that of Ethereum. Therefore, any dip in Ethereum's performance can potentially affect NU's as well.

- Technology Complexity: NuCypher uses more complex technology for encryption and data sharing. While this ensures higher security, it may require users to have a deeper understanding of the system to use it efficiently. Some users may find this as a hurdle to adoption.

What Makes NU Unique？

NuCypher (NU) introduces an innovative approach to the realm of decentralized encryption, decryption, and key management. Unlike most cryptocurrencies, which focus predominantly on transactions and currency exchange, NuCypher emphasizes the importance of data privacy and security in a decentralized network. NU tokens power the protocols cryptographic infrastructure, creating an additional layer of security and enabling private data sharing on public networks. This capability distinguishes it from many cryptocurrencies, as it adds a functional use case beyond merely value transfer.

Another aspect that differentiates NuCypher from other cryptocurrencies is its key management service, which operates on the client-side. Users can maintain control and ownership over their cryptographic keys, eliminating the need for a centralized authority. This appeal to individual autonomy and privacy can significantly enhance data security and user trust.

However, similar to many other cryptocurrencies, NuCypher operates as an ERC20 token on the Ethereum network. This means it is subject to the same issues as other Ethereum-based cryptocurrencies, such as potential network congestion or increased transaction costs during times of high demand. Furthermore, NuCypher's market performance, like all cryptocurrencies, can be volatile and is influenced by broader market trends. It's recommended for potential users or investors to thoroughly research and understand the technology and associated risks.

Circulation of NU

The circulating supply of NuCypher (NU) is 92.47 million tokens. This means that there are 92.47 million NU tokens that are currently in circulation and available for trading. The total supply of NU tokens is 1 billion NU.

The price fluctuation of NU is the movement of the price of NU over time. NU has been a volatile cryptocurrency since its launch in 2019. The highest price that NU has reached was $0.99 on May 12, 2021. The lowest price that NU has reached was $0.01 on June 22, 2022.

There are a number of factors that can affect the circulating supply and price fluctuation of NU, including:

Demand: The demand for NU will drive up the price. If more people want to buy NU than sell it, the price will go up.

Supply: The supply of NU will drive down the price. If more people want to sell NU than buy it, the price will go down.

News and events: Any news or events that affect the NU project or the cryptocurrency market as a whole can affect the price of NU. For example, in May 2021, the price of NU surged after it was announced that it would be merged with Keep Network. However, in June 2022, the price of NU plummeted after the cryptocurrency market crashed.

Regulations: Changes in regulations can also affect the price of NU. For example, if a government cracks down on cryptocurrency trading, the price of NU could go down.

It is important to note that the cryptocurrency market is volatile, and the price of NU can fluctuate wildly. Investors should always do their own research before investing in any cryptocurrency.

How Does NU Work？

NuCypher (NU) operates as a decentralized network that provides cryptographic services to decentralized applications and protocols. Its core offering includes encryption, decryption, and key management service, powered by the NU token. The working mode and principle of NuCypher revolve around a process known as 'Proxy Re-Encryption'.

Proxy Re-Encryption is a type of public-key encryption that allows a proxy entity to transform ciphertexts from one public key to another, without learning anything about the underlying plaintext. In simpler terms, it enables users to delegate the decrypting ability of their data to others without sharing the private keys.

In the context of NuCypher, the network nodes act as a proxy to re-encrypt data. When a user wants to share data with somebody else, they create a re-encryption key which allows the nodes to re-encrypt the data from the user's public key to the receiver's public key. This process enables secure, private data sharing on public networks. The nodes provide this service in exchange for NU tokens, ensuring that there is a strong, economic incentive for behaving honestly.

The use of this technology brings a unique approach to data privacy and security in decentralized networks. However, as with any complex system, it requires a certain level of understanding to be used efficiently. Its also important to note that the performance of NuCypher is tied to the Ethereum network, as the NU token is an Ethereum-based ERC20 token.

Exchanges to Buy NU

Here is a list of some exchanges that support buying of the NuCypher (NU) token:

1. Binance: Supports NU/BTC (Bitcoin), NU/ETH (Ethereum), NU/USDT (Tether), NU/BUSD (Binance USD), and NU/EUR (Euro) pairs.

2. Huobi: Supports NU/USDT (Tether), NU/BTC (Bitcoin), and NU/ETH (Ethereum) pairs.

3. KuCoin: Supports NU/USDT (Tether), and NU/BTC (Bitcoin) pairs.

4. Gate.io: Supports NU/USDT (Tether) pairs.

5. Bitfinex: Supports NU/USD (United States Dollar), NU/UST (Tether USD), and NU/ETH (Ethereum) pairs.

6. BKEX: Supports NU/USDT (Tether) pairs.

7. Hotbit: Supports NU/USDT (Tether), NU/BTC (Bitcoin), and NU/ETH (Ethereum) pairs.

8. Uniswap (V2): Supports NU/ETH (Ethereum) pair.

9. Poloniex: Supports NU/USDT (Tether), NU/BTC (Bitcoin), and NU/ETH (Ethereum) pairs.

10. OKEx: Supports NU/USDT (Tether), NU/BTC (Bitcoin), and NU/ETH (Ethereum) pairs.

Please note that these pairings are subject to change based on the exchange policies and market dynamics. Always check the latest pairings directly on the exchanges you plan to use.

How to Store NU？

Storing NU tokens involves transferring them to a compatible digital wallet. Far more than a mere storage facility, a digital wallet also enables the user to send, receive, and monitor their cryptocurrency. There are different types of wallets which vary depending on their functionality and security level.

Here are some wallet types where you can store your NU tokens:

1. Hardware Wallets: Considered the safest option, hardware wallets store the user's private keys in a secure hardware device. These wallets are immune to computer viruses and do not expose private keys online. Examples that are compatible with NU tokens are Ledger and Trezor.

2. Software Wallets: Also known as digital wallets, these are software applications that can be installed on a computer or mobile device. They generate the user's private keys and provide full control over the stored cryptocurrency. An example of a software wallet that supports NU tokens is Metamask.

3. Web Wallets: These wallets are accessed through browsers. They can be beneficial for their ease of access and use, but because private keys are stored online, they might be susceptible to online threats. Web wallets can sometimes be less secure than hardware or software wallets.

4. Mobile Wallets: These are wallet apps designed for use on mobile devices. They provide convenient access to the user's crypto assets. Some software wallets like Metamask also offer a mobile version of their wallet.

When storing any cryptocurrency, including NU tokens, remember to prioritize security. Make sure the wallet supports NU, is up-to-date, has positive community feedback, and comes from a reputable provider.

Should You Buy NU？

Buying NuCypher (NU) may suit those who have a fundamental interest in its technology or believe in its potential application. This includes:

1. Privacy Advocates: As NuCypher's primary function is to manage private keys and facilitate secure, private data sharing among public networks, it could attract privacy advocates or individuals deeply invested in data security.

2. Decentralized Application Developers: NuCypher also provides a cryptographic infrastructure for privacy-preserving applications. This could appeal to developers or organizations wanting to build decentralized apps with an enhanced security layer.

3. Experienced Cryptocurrency Investors: NU tokens represent a share of the NuCypher network. Hence, individuals well-versed in cryptocurrency trading might consider buying NU as part of their portfolio diversification strategy.

However, like any cryptocurrency investment, buying NU is not without risk. Here is some advice for those considering investment:

1. Conduct Due Diligence: Thorough research into NuCypher's technology, market performance, team, partnerships, and roadmap is a crucial first step. Remaining informed is critical in the volatile crypto space.

2. Understand the Underlying Technology: NuCypher's focus on decentralized encryption, decryption, and key management differs from standard cryptocurrencies. Understanding the technology can help potential buyers gauge the project's potential and risks.

3. Exercise Patience and Caution: Cryptocurrency prices can be highly volatile, and it is essential to stay patient and not be swayed by short-term price movements. setting a budget and sticking to it can also help avoid considerable losses. Never invest more than you can afford to lose.

4. Ensure Secure Storage: If you decide to invest, plan how you will store the tokens securely. Using reputable wallets or hardware wallets to store your tokens can provide added security.

5. Consider Getting Professional Advice: Engaging with a financial advisor or someone experienced in cryptocurrency investing can help navigate complexities and risks. Receiving professional advice could prove invaluable, especially for those new to the crypto world.

As cryptocurrencies are speculative in nature and involve high risk, they might not be suitable for everyone. Hence, potential investors should carefully consider their risk tolerance and investment objectives before getting involved.

Conclusion

NuCypher (NU) is a unique offering in the world of cryptocurrencies, with its primary focus on providing private data sharing services on public networks through a cryptographic infrastructure. The key differentiating factors of NuCypher such as decentralized encryption and decryption, and key management services, combined with privacy-preserving applications, give it a potential avenue for growth in this emerging market. However, as an Ethereum token, it remains subject to the challenges and limitations of the Ethereum network.

In terms of its development prospects, if the demand for secure data sharing solutions and privacy preservation increases in the future, and suppose NuCypher can effectively meet this demand, there exists potential for growth and wider adoption.

Investors seeking price appreciation may see potential in NU due to these prospects but one should note that investing in cryptocurrencies like NU inherently involves risk, especially given the volatile and speculative nature of the crypto market. There are no guaranteed returns and the possibility for profit comes with the risk of loss. Prior to investing, one should conduct detailed research, consider their risk tolerance and investment objectives, and potentially seek professional financial advice.

FAQs

Q: What is the primary function of NuCypher (NU)？

A: NuCypher (NU) provides a decentralized cryptographic framework for privacy-oriented data sharing within public networks.

Q: Can you name a few exchanges where I can buy NU tokens？

A: NU tokens can be bought on several exchanges, including Binance, Huobi, KuCoin, CoinList, and OKEx.

Q: How does NuCypher's Proxy Re-Encryption work？

A: Proxy Re-Encryption allows NuCypher to transform encrypted data from one public key to another without revealing the original plaintext.

Q: Is NuCypher solely dependent on the Ethereum network？

A: Yes, as an Ethereum token, NuCypher's operational efficiency is tied to the Ethereum network.

Q: Can you name some wallets where I can store my NU tokens safely？

A: NU tokens can be stored in various wallets that provide ERC20 token support, including Metamask, Ledger, and Trezor.

Q: Would an average investor benefit from investing in NuCypher？

A: While NuCypher presents potential opportunities due to its unique data privacy focus, investing in it, like all cryptocurrencies, involves inherent risks and should be considered against one's risk tolerance and investment objectives.

Q: What factors contribute to the valuation of NU tokens？

A: NU token prices can be influenced by various factors, including overall market trends and investor sentiment, NuCypher's technological advancements, and changes in demand for its privacy-preserving features.

Q: How does NuCypher differentiate itself from other cryptocurrencies？

A: Unlike many cryptocurrencies focused on monetary transactions, NuCypher primarily focuses on data privacy and security in a decentralized environment, which distinguishes it from other cryptocurrencies.

Q: What data privacy solutions does NuCypher provide？

A: NuCypher provides a decentralized encryption, decryption, and key management solution that enables private data sharing on public networks.

Q: How might the performance of the Ethereum network affect NuCypher？

A: As an Ethereum-based token, the performance and congestion level of the Ethereum network can directly impact the transaction speed and fee of NuCypher.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.