Research Summary
The report discusses Nillion, a privacy-focused cryptocurrency that uses artificial intelligence and is not intended for monetary transactions. Nillion uses various Privacy Enhancing Technologies (PETs) to provide a secure platform for sensitive computations and data storage. The report also highlights Nillion’s unique marketing approach and potential rewards for early participants.
Key Takeaways
Nillion’s Unique Positioning
- Not Just for Monetary Transactions: Unlike other privacy coins, Nillion is not designed for monetary transactions. Instead, it serves as a trustless third party for consumer applications and businesses, performing computations on encrypted data without revealing the actual data.
- Meta Layer for Blockchains: Nillion is not a traditional layer in the blockchain network. It exists adjacent to existing networks and web2 applications, providing a secure and private platform for sensitive computations and data storage.
Privacy Enhancing Technologies (PETs)
- Orchestration Layer: Nillion has developed an Orchestration Layer that integrates various PETs. This layer acts as a conductor, using application-specific PETs for maximum efficiency.
- Key Technologies: The key technologies in Nillion’s product suite include Multiparty Computation (MPC), Fully Homomorphic Encryption (FHE), and Zero Knowledge Proofs (ZKPs). These technologies are designed to address different use cases and have varying tradeoffs between performance, cost, maturity, and functionality.
Community Engagement and Rewards
- Community-First Ethos: Nillion is taking a unique approach to marketing and building a community. They are manually selecting active members of the community through various events and unique activities. Early participants may be rewarded.
- Token Farming: There are several ways to farm Nillion, and the company has announced various campaigns for the community. They recently announced their incentivised testnet, which is a 4-week long campaign and the easiest way to farm for NIL token drop.
Future Developments
- Infrastructure Development: Nillion is building its network infrastructure from the ground up and aims to quickly bootstrap thousands of nodes to be considered a fairly decentralised and secure network. In Phase 2, they have confirmed onboarding nodes.
- Public Sale Round: Nillion has announced a public sale round to take place on Coinlist from June 19 to June 26th at a $400M valuation. However, more information regarding this round is not yet available.
Actionable Insights
- Explore Nillion’s Unique Positioning: Nillion’s unique positioning as a privacy-focused cryptocurrency not intended for monetary transactions could offer new opportunities in the crypto market. It’s worth exploring how this positioning could impact its adoption and use.
- Understand the Role of PETs: Nillion’s use of various Privacy Enhancing Technologies (PETs) is central to its offering. Understanding these technologies and their applications can provide insights into Nillion’s potential and limitations.
- Engage with the Community: Nillion’s community-first ethos and potential rewards for early participants suggest that engaging with the community could be beneficial. Consider participating in their events and campaigns.
- Monitor Future Developments: Nillion’s future developments, including its infrastructure development and public sale round, could significantly impact its trajectory. Keep an eye on these developments to stay informed.
