What is NuCypher?

NuCypher (KMS)

Website

Whitepaper

 

NuCypher KMS is an entirely new decentralized key management system for blockchains. The decentralized applications are unlocked for all developers who want to use it. The KMS addresses the limitations available in the management systems using consensus networks to manipulate and securely store private and encrypted data. These decentralized key management systems can also be used for sharing private data on public blockchains allowing greater controls and protection of private data.

What makes NuCypher KMS different?

The NuCypher KMS provides cryptographic and encryption access control without relying on central service providers. The system leverages the power of proxy re-encryption technology to allow for re-keying data encryption. The re-keying data encryption allows a network of nodes to offer management operation without accessing plain text data or private keys.

How it works.

The proxy re-encryption is the core feature of the technology. It is cryptographic primitive features that allow third-party proxies to transform texts for various public keys without learning about underlying messages. The process allows the system to securely delegate access to encrypted and private information.

Use cases

NuCypher KMS enables blockchains to securely store and manipulates secrets to give decentralized applications a way to work with data. The KMS is also useful to centralized applications too. Some of the ways you can use KMS include:

  • Private multi-user chats.
  • Private, sharable file storage
  • Pay-to-view streaming
  • Handling secrets in AWS instances.
  • Safe storage of encrypted secrets alongside codes
  • Decentralized digital rights management
  • Sharing medical records among patients and healthcare providers
  • Mobile device revocation and management
  • Blind identity management

NuCypher KMS features

  • Secure dApps: NuCypher KMS use secure dApps to help developers secure their data with decentralized proxy re-encryption.
  • Enterprise deployments: The KMS integrates with data platform such as Kafka and Haddop to helps clients shield their data from unauthorized access. It also makes the data easy sharable between organizations.

Token dynamics

The NuCypher KMS uses the NKMS tokens as its backbone. The token is used to reward miners for contributing and also pay for access to re-encryption services. The token also incentivizes the security of the system and correctness of computation. The only time miners can generate token is when they stay online, if they cheat or provides wrong re-encryption, they lose an amount of their security deposit.

NuCypher KMS can be used by both developers and enterprises alike. They can leverage the power of the system to create highly-secure applications in financial services, healthcare industry and much more.

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