Yesterday, the privacy blockchain project Nillion completed a $25 million financing round, led by Hack VC, and received support from Arbitrum, Worldcoin, and Sei.
Nillion's partners include blockchain networks NEAR, Aptos, Arbitrum, Ritual, and others. Nillion aims to attract projects at the intersection of blockchain and AI that need to securely share and store large amounts of data.
It is reported that Nillion builds its services around the concept of 'blind computation', which processes data without revealing the content, creating an application ecosystem that allows various applications to work together without disclosing sensitive information.
Introduction to the Nillion project:
Nillion was established three years ago and is a decentralized public network based on a new cryptographic primitive called Nil Message Compute (NMC), which allows nodes in the decentralized network to operate in a unique, non-blockchain manner. Nillion unlocks important new utilities in Web3 by enabling use cases such as decentralized credit scoring, decentralized trusted execution environments, private NFTs, and decentralized secure storage services.
As of today at noon, according to the popularity index ranking data from the Web3 asset data platform RootData, Nillion remains in first place! A definite superstar!!
The Nillion team has experience in creating multiple Web3 and Web2 protocols/companies, such as Uber, Hedera Hashgraph, and Indiegogo. Core members have held key positions at companies like Coinbase, Polygon, Polkadot, Google, IBM, Oracle, NASA, Amazon, Nike, AirBnB, and Consensys!
The NIL token is Nillion's native functional token. Its uses include:
Security and Coordination: By staking NIL tokens, users can gain voting rights, ensuring network security through delegated proof-of-stake mechanisms, and decide on the selection of active validators.
Managing Network Resources: Users pay with NIL tokens to use the coordination layer or initiate blind computation requests, effectively managing network resources.
Petnet Cluster Economy: Infrastructure providers join the cluster to support blind computation and earn NIL token rewards by providing network resources.
Network Governance: NIL holders can stake tokens to vote on on-chain proposals or delegate their voting rights to others.
Currently, Nillion has established partnerships with projects in various fields, including artificial intelligence, healthcare, DeFi, infrastructure, and more. Nillion is working with partners like Ritual, Rainfall, and Skillful AI to promote the application of secure computation in personalized AI. Meanwhile, healthcare partners such as Agerate and MonadicDNA are utilizing Nillion to securely share and analyze patient data. Recently, Nillion also announced the integration of the NEAR protocol, introducing blind computation and blind storage to support modular data privacy and private AI.
