NIL
Nillion
$0.2627
2.51%
Open
-
High
-
Low
-
Vol.
-
1H
24H
7D
1M
1Y
All
1H
24H
7D
1M
1Y
All
Need more data?Explore CoinDesk's API
Nillion Price Converter
Nillion Information
Nillion Markets
About Nillion
Nillion (NIL) is a decentralized network focused on secure, private computation and storage of high-value data, utilizing advanced privacy-enhancing technologies. The NIL token functions as the network's utility token, facilitating transactions, staking for network security, and governance participation.
Nillion (NIL) is a decentralized network designed to provide secure, private computation and storage of high-value data. It leverages advanced privacy-enhancing technologies, including Multi-Party Computation (MPC), Homomorphic Encryption, and Zero-Knowledge Proofs, to facilitate secure data operations without exposing the underlying information. Nillion aims to enable decentralized applications (dApps) that require private data handling, such as those in artificial intelligence (AI), decentralized finance (DeFi), healthcare, and cloud computing sectors.
- Privacy-Preserving Computation: Nillion enables computations on encrypted data without exposing the data itself, enhancing privacy and security.
- Scalability: The network is designed to scale efficiently, supporting a wide range of decentralized applications that require secure data handling.
- Developer Tools: Nillion provides a suite of application tools, including nilAI, nilVM, nilDB, and nilChain, offering developers the resources to create privacy-preserving applications across various sectors.
The NIL token serves several critical functions within the Nillion ecosystem:
Network Fees: NIL tokens are used to pay for computational services, data storage, AI inference, and transaction fees across Nillion's Coordination Layer and Petnet.
Staking: Token holders can stake NIL to help secure the network, following a delegated proof-of-stake model. This staking mechanism also grants holders voting power in network governance.
Governance Participation: NIL token holders have the right to vote on important network proposals and changes, ensuring that the project remains decentralized and community-driven.
Nillion was founded in 2021 by a team of experienced professionals, including Alex Page (CEO), Andrew Masanto (CSO), Slava Rubin (CBO), founder of Indiegogo; Dr. Miguel de Vega (Chief Scientist), Conrad Whelan (Founding CTO), Mark McDermott (COO), and Andrew Yeoh (CMO).