Nillion (NIL) is a decentralized network that uses 'blind computation' technology to ensure secure data processing and storage while maintaining privacy.

The network employs privacy-enhancing technologies (PETs) that allow computations and data storage without revealing their contents.

Key Features of Nillion:

  • nilDB: An encrypted database that distributes data across multiple nodes, allowing computations on encrypted data.

  • nilAI: AI-oriented technologies, including AI Virtual Machine (AIVM), nada-AI, and nilTEE.

  • nilVM: A virtual machine with libraries that simplify app development for AI developers, allowing them to use Python and Javascript to create Web3 applications.

NIL Token:

NIL is the native utility token of the Nillion network and is used for:

  • Fees for computation and payments on the network.

  • Staking to ensure network security.

  • Participation in governance through an online governance module.

Funding and Launch:

Nillion has raised a total of $65 million, of which $45 million was obtained in five funding rounds, and $20 million during the public sale. The total token supply is 1 billion NIL, of which 5% (50 million NIL) is allocated for public sale.

NIL trading on Binance is scheduled to start on March 24, 2025, with trading pairs NIL/USDT, NIL/BNB, NIL/FDUSD, NIL/USDC, and NIL/TRY.Binance

Advantages of Nillion:

  • Data privacy: The network ensures data processing without revealing its contents, which is crucial for applications requiring a high level of privacy.

  • Enhanced capabilities for AI: Nillion provides tools for safe training and use of artificial intelligence models while maintaining data privacy.

  • Decentralization: The network eliminates the need for trusted central authorities, ensuring secure data processing through a distributed network.

Disadvantages and Risks:

  • Regulatory uncertainty: Like many other cryptocurrency projects, Nillion may face regulatory challenges in various jurisdictions.

  • Competition: The privacy computing market is competitive, and Nillion effectively competes with other projects offering similar solutions.

  • Technological risks: As a new technology, Nillion may face technical challenges and require time to achieve stability and widespread adoption.

Conclusion:

Nillion offers an innovative approach to secure data processing and storage, which could significantly impact the development of applications requiring a high level of privacy. However, investors should understand the risks and conduct thorough analysis before making decisions.

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The review uses data from Binance nillion.com CoinMarketCap CryptoRank.