The NuCypher Project launches its mainnet and distributes $45 million worth of NU tokens
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer The NuCypher Project launches its mainnet and distributes $45 million worth of NU tokens
Launch a projectNuCypherHis mainnet, on the same occasion, distributed 222.5 million NU tokens to node operators in proportion to the amount of Ethereum they had secured.
The “NuCypher” project that aims to provide privacy has launched its highly anticipated mainnet, which will serve as the infrastructure for receiving and running decentralized applications.
NuCypher is based on a Proof of Stake (PoS) blockchain where validators are rewarded with NU cryptocurrency.
Prior to the network’s launch, the team announced a so-called “WorkLock” feature that enables them to lock Ethereum coins into the network in exchange for them becoming validators in NuCypher.
Over 2,000 different validators have locked over 350,000 ETH in contracts.”work lock“.
Read:Report: Over 50 questionable crypto projects built on the Binance blockchain
At the launch of the mainnet, a total of 222.5 million NU coins were distributed out of a total supply of 1 billion.
The NuCypher project validators who participated in WorkLock began earning NU cryptocurrencies in proportion to the amount of Ethereum they deposited.
The newly distributed cryptocurrency will remain “locked” for the next six months, according to the terms of WorkLock.
Validators will take advantage of so-called closed quotas as “WorkLock” participants will not have access to ETH and NU for the next six months.
But, in return, they will receive the rewards earned from the quota automatically.
About the NuCypher project:
The NuCypher project is based on the use of encryption in transactions, and it also allows developers to create decentralized applications that maintain privacy by routing smart contract data through the NuCypher blockchain.
All blockchain data will be publicly available and free, which means that it is not ideal for some applications, such as banking or healthcare, that require anonymizing sensitive data.
The “NuCypher” project has received support from several investment funds, including:
Y Combinator, Polychain Capital, Arrington XRP Capital and Bitmain.
Read:Find out the number of active Bitcoin addresses in 2020 … and what does its rise mean?
Read also:
What is the Filecoin Project and its Digital Currency (FIL)? What is the importance of the project in the crypto market?
A simple guide and explanation of the Chainlink project and how it works
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time