Privacy layer for distributed systems and decentralized applications.
NuCypher KMS is a decentralized Key Management System (KMS) that addresses the limitations of using consensus networks to securely store and manipulate private, encrypted data. It provides encryption and cryptographic access control, performed by a decentralized network, leveraging proxy re-encryption.
Unlike centralized KMS as a service solutions, it doesn’t require trusting a service provider. NuCypher KMS enables sharing of sensitive data for both decentralized and centralized applications, providing security infrastructure for applications from healthcare to identity management to decentralized content marketplaces. NuCypher KMS will be an essential part of decentralized applications, just as SSL/TLS is an essential part of every secure web application.
NuCypher is a data privacy layer for public blockchains and decentralized applications. It uses proxy re-encryption to provide decentralized key management and cryptographic access control services. It enables DApp developers to store, share, and manage private data on public blockchains. The NuCypher network is composed of nodes that provide re-encryption services. To operate a node and earn fees and mining rewards, you must stake the NuCypher token as collateral. This security deposit creates an economic incentive for nodes to behave appropriately and ensures correctness of computation. Also, the staked tokens are used to decentralize the network: one miner has only a fraction of the power to apply access policies, proportional to his stake.
NuCypher is led by its two founders MacLane Wilkison and Dr. Michael Egorov. MacLane has extensive experience in both software development and the financial services industry. Michael is former LinkedIn engineer and a former physicist and scientist from the Moscow Institute of Physics and Technology.
Public consensus networks, such as Bitcoin and Ethereum, are a promising solution to this centralization problem. But the limitations of public consensus networks in performing cryptographic operations that involve the manipulation of secret data are well-established. Consensus networks employ a volunteer network of nodes, which is subject to constant churn and not as reliable as central infrastructure when it comes to availability and enforcing access management rules.
NuCypher KMS uses a decentralized network to remove the reliance on central service providers, proxy re-encryption for cryptographic access control, and a token incentive mechanism to ensure reliability, availability, and correctness. Because of the use of proxy re-encryption, an unencrypted symmetric key (which gives the ability to decrypt private data) is never exposed server-side, and there is no single point of security failure. Even if compromised, hackers would only get re-encryption keys but access to the file is still protected.
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Public sale —
01 Dec 00:00 UTC
01 Dec 00:00 UTC