NuLink Price

NuLink (NLK) is a cryptocurrency and technology platform designed to enhance privacy and security for decentralized applications. The platform integrates advanced cryptographic technologies such as Proxy Re-Encryption, Attribute-Based Encryption, and Fully Homomorphic Encryption, focusing on enterprise-level data sharing and computation services. This allows data to be shared and computed in a secure, privacy-preserving manner, which is crucial for applications handling sensitive information.

NuLink also supports decentralized storage solutions, where users can earn NLK tokens by providing storage services or relaying information across the network. The network uses Zero-Knowledge Proof technology to ensure data privacy and authenticity without revealing the underlying data​.

NuLink integrates several layers and cryptographic technologies to provide a secure, privacy-preserving platform for decentralized applications. Here’s a simplified explanation of how it functions:

1. Application Layer: This layer interfaces with applications, managing authorization and interactions with other layers for data encryption and decryption requests.
2. Cryptography Layer: Here, data is encrypted and decrypted using advanced cryptographic methods like Proxy Re-Encryption (PRE), Identity-Based Encryption (IBE), and Attribute-Based Encryption (ABE). This layer handles all cryptographic operations necessary for secure data handling.
3. Storage Layer: Encrypted data is stored here. NuLink uses decentralized storage solutions, enhancing security and ensuring that data is not centrally controlled.
4. Blockchain Layer: This layer manages transactions and interactions within the NuLink network, including staking, governance, and execution of smart contracts.
5. Watcher Network: It relays information and transactions across blockchain systems, aiding in data and transaction verification.

The entire system is designed to ensure that only authorized users can access specific data, and even then, they can only decrypt it with appropriate permissions. This is achieved through Zero-Knowledge Proofs (ZKP), which verify transactions and interactions without revealing the data itself, and Fully Homomorphic Encryption (FHE) for computing on encrypted data​.

NuLink (NLK) was initiated in the first quarter of 2021 to provide a privacy-preserving solution for decentralized applications. The platform combines blockchain technology with advanced cryptographic techniques such as Proxy Re-Encryption, Identity-Based Encryption, and Fully Homomorphic Encryption to secure and privatize data sharing and computations.

The project quickly progressed, launching its first major testnet, Horus1.0, on the BNB Smart Chain by the end of 2022. Significant developments included the release of the NuLink Core Library, the NuLink API Library, and various staking and data-sharing functionalities.

By the second quarter of 2024, NuLink plans to launch its mainnet, integrating all testnet modules and activating on-chain governance. Further advancements are expected by the end of 2025, including integrating Zero-Knowledge Proof and Fully Homomorphic Encryption systems into the mainnet​.

The project was co-founded by David Jiao, Daniel Nilsson, and Noel Braganza. Each founder brought different expertise to the table, significantly contributing to developing and expanding NuLink's capabilities and reach in the decentralized application space​.

The NuLink (NLK) token serves several important functions within the NuLink network:

1. Collateral: Providers such as Proxies, Watchers, Computing Providers, and Storage Providers must stake NLK tokens as collateral to offer their services and receive rewards. This staking acts like a security deposit, which they can lose if they fail to comply with network protocols or deliver poor service.
2. Transaction Fees: Users pay NLK tokens as fees when they use services within the network, like secure data storage, data sharing, or data computing.
3. Governance: NLK token holders can participate in the network's governance through voting on various proposals, helping shape the development and operational decisions of the NuLink ecosystem.
4. Incentives: NLK tokens are used to reward network participants for their contributions, encouraging them to maintain and provide high-quality services.