Nillion (NIL)

IEO

Last updated: Jun 20, 2024

Nillion is a decentralized network based on a new mathematical innovation called Nil Message Compute, which is designed for the private and secure transfer, storage and processing of data.

Funding Round: $20 Million

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Overview

Project industry	Privacy & Security
Product type	Technology
Whitepaper	Open

What is Nillion

Nillion is a decentralized public network based on a new cryptographic primitive called Nil Message Compute (NMC).

Nillion allows nodes in a decentralized network to work in a unique, non-blockchain, way.

While Nillion represents a revolutionary leap from a predecessor technology known as Secure Multi-Party Computation (SMPC), unlike SMPC, network nodes do not have to communicate with one another. Unlike blockchain, nodes do not run immutable ledgers designed to store transaction data.

In summary, Nillion:

Introduces a decentralized way to store and process private information
Renders traditional encryption obsolete
Enables the creation of a Meta Layer that supercharges and connects existing blockchains (e.g. decentralized secure enclaves, interoperability and more)
Enables significant new real world, decentralized applications
Is Post Quantum as it uses 'encryptionless' technology called Information Theoretic Security.

Details

IEO (Coinlist Launchpad): Jun 19, 2024 - Jun 26, 2024
Token supply: 1,000,000,000 NIL
Raised: 25,000,000 USD

Legal

Blockchain Platform: Ethereum

Token info

Ticker: NIL
Token standard: ERC-20
Token price in USD: 1 NIL = 0.4 USD
Accepted currencies: USDC, USDT
Token distribution:
Core Contributors - 20%
Early Backers - 21.5%
Community - 20%
Ecosystem & Partners - 21%
Treasury - 17.5%

Nillion Roadmap

PHASE 1 | Genesis Sprint

A four week public testnet focused on load testing the network, limited functionality has been enabled such as wallet creation, token transfers, staking, on-chain governance, and performance evaluation.

PHASE 2 | Catalyst Convergence

Integration of the Petnet for enhanced processing, connecting with the mainnet Coordination Layer, as well as beginning to onboard external nodes.

PHASE 3 | Hardening

Full production launch with secure data storage, blind computation, real transactions, demonstrating the network’s full capabilities and resilience.

PHASE 4 | The Multicluster Future

Focusing on horizontal scaling by introducing new clusters to meet diverse computational and security needs, expanding the marketplace for Blind Computation.