/biz/ - Business & Finance

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You guys better get the fuck on, we're leaving with or without you.

Decentralized proxy re-encryption is the most important feature that has yet to be adopted by blockchain networks. In fact, PRE itself has more utility than all of crypto has today. We're not just talking about a little slice of today's pie.

Do you know how much this will change things? It might not be intuitive to you, so let me explain the need for PRE.

I worked on a crypto project that involved 2 parties exchanging information for crypto without using a centralized third party - simple, right? Now read the following fact and reread it until you really understand - the words are carefully chosen: TODAY THERE IS NO DECENTRALIZED WAY TO EXCHANGE INFORMATION ACCESS FOR MONEY. This is something that my team and VCs overlooked, and it's why we were too early to be working on that project. Proxy re-encryption is precisely the technology we needed.

Access to information controlled by financial incentives is what the entire internet and economy are about. I really mean that. Information asymmetry, backed by capital, together explains how the world works today. So it's frankly embarrassing to realize that crypto, supposed to be the native money of the internet, doesn't provide this.

When we finally are able to create decentralized protocols that involve exchanging access to information, rather than just exchanging value aided by public information, the utility of blockchains will increase by several orders of magnitude. Fees and scaling aside, blockchains and p2p networks will be able to natively support pretty much all business logic that runs the world today.

Guess what: there is a solution. Nucypher builds it. They are at the forefront of using proxy re-encryption. It's a relatively new technology, and has almost never been used outside of academia. Nucypher is the first and only live network that provides PRE as a service. So yeah, you could say I'm pretty bullish.

Gather round, you fucking retards. I'm going to do you all a favor and tell you about NuCypher. It's a little tougher to grasp than LINK, but you'll get there.

I've been waiting to buy $NU since I heard about the project in 2018, because I literally needed it in order to do my job as a software engineer - it would have made things a LOT easier for me. Unfortunately it was only in early testnet phase, but it's been my favorite project ever since.

So, what is NuCypher?

ETH has no privacy built in, so naturally the shills and the founders that want to make money have had to work with "openness" as an intentional feature for all of the L2 protocols. This is why LINK has become the monster that it is. And to be clear, I have nothing but respect for LINK and all of you who bought it.

But have you ever asked yourself, what would be possible if DeFi and other types of protocols had access to *private* computation as a feature? What if you could make a DeFi investment product that used a *private* data feed? What if you could pay for access to encrypted information, i.e. a digital media file, without ever touching a private server? What if all of that patreon and substack bullshit and all paywalled content was managed entirely by decentralized networks? What if hedge funds or other companies could pay anons to do ML on their data, while keeping their data private?

NuCypher is going to make all of that possible, and more, anon. NuCypher is at the cutting edge of new technologies in cryptography, mainly Proxy Re-encryption and Fully Homomorphic Encryption - read up. These things have almost never been put into production because of how new they are, and NuCypher has some of the best people in that field implementing them and building a fully featured decentralized service around them.

Please, join me. You won't regret it.

This is LONG play. It's sub $100M mcap right now - I expect to see 11 digits in the coming years.

literally $NU