Nillion
Nillion decentralizes trust for sensitive data in the same way that blockchains decentralized transactions. Nillion is a deep technology infrastructure project aiming to build a non-blockchain decentralized network. While blockchains decentralize finance, Nillion aims to decentralize everything else and the rest of data. The project offers a new internet infrastructure for securing storage and data computation.
In its private funding round led by Distributed Global, the project has successfully raised $20M from investors including AU21, Big Brain Holdings, Chapter One, GSR, HashKey, OP Crypto and SALT Fund. From the Community Round on Coinlist, the project expects to raise $20M, allocating 50M $NIL tokens.
Nillion - WAITLIST Overview
Nillion - Review
Nillion is a secure computation network that decentralizes trust for high value data in the same way that blockchains decentralized transactions.
Traditional challenges of handling high value data include:
- The need for secure storage;
- The ability to compute on stored data without compromising security;
- Achieving decentralization of data management.
The Nillion crypto project addresses these challenges by leveraging privacy enhancing technologies (PETs) including Multi-Party Computation (MPC). These PETs enable users to securely store high value data on Nillion's peer-to-peer network of nodes, and allow for computations to be executed on the masked data itself. This eliminates the traditional need to decrypt data ahead of computation, enhancing the high value data's security.
High value data stored in the Nillion Network can be computed while staying hidden, unlocking new use cases and verticals; early builders from Nillion’s community are building things like tooling for private predictive LLMs and secure storage and compute solutions for healthcare, passwords, and trading data.
Nillion has a four-phase strategy for deploying the Nillion Network. Currently, Phase 1, the Genesis Sprint, is live. During Phase 1, you can interact with the Nillion Testnet, aka the Coordination Layer, using Testnet $NIL tokens.
On June 10th, 2024, the Nillion project announced the upcoming Community Round on Coinlist, which was launched on June 19, 2024, and runs until June 26, 2024, 17:00 UTC.
✅ Nillion’s pros:
- Token launch on Coinlist;
- Low Initial Market Cap / FDV rate (5%);
- Has reputable backers and partners;
- Good SMM coverage;
- Solid PR performance;
- Great Growth Marketing;
- Above-the-average Search Engine Optimization;
- Team participates in a huge number of AMA sessions, interviews and conferences.
📛 Nillion’s cons:
- High Token Monthly Inflation rate (3.57%);
- 20% of tokens are allocated for Team;
- Has no Security Audits;
- Weak Marketing Infrastructure;
- Poor Influencer Marketing.
Nillion - Team
