THELOGICALINDIAN - The broadcast NU tokens are stakelocked for six months
Following NuCypher’s mainnet launch, 222.5 actor NU tokens accept been broadcast to bulge operators in admeasurement to the bulk of ETH they accept locked.
WorkLock Distribution & PoS Staking
Privacy-preserving blockchain arrangement NuCypher has launched its awful advancing mainnet. The mainnet will serve as the basement that will ability the network’s dApps.
NuCypher operates a affidavit of pale (PoS) blockchain area validator nodes are adored for their “threshold cryptography services” application NU tokens. Before the arrangement launch, the aggregation appear WorkLock, an Ethereum-locking accident for those absorbed in acceptable arrangement validators.
Over 2,000 altered nodes bound up added than 350,000 ETH in the WorkLock contract.
At the mainnet launch, a absolute of 222.5 actor tokens accept been broadcast out of the accepted accumulation of 1 billion tokens. Nodes that alternate in WorkLock began earning NU tokens in admeasurement to the bulk of ETH, which they locked.
The anew broadcast tokens (along with the ahead bound ETH) will abide “stake-locked” for the abutting six months, as per the WorkLock arrangement conditions.
Stake bound agency that WorkLock participants cannot admission their ETH and NU backing for the abutting six months. And all rewards that the nodes acquire will be automatically restaked.
Building Privacy dApps With NuCypher
Using NuCypher’s proprietary proxy re-encryption technique, developers can build privacy-preserving applications on top of accessible blockchains by acquisition the acute arrangement abstracts through the NuCypher network.
All accessible blockchain abstracts is currently advisedly available, which is not ideal for applications, like cyberbanking or healthcare, that crave acute abstracts to be hidden.
The activity is backed by arresting VC funds, including Y Combinator, Polychain Capital, Arrington XRP Capital, and Bitmain.
