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As blockchain systems are being increasingly adopted for a variety of use cases in the business world and the amount of on-chain data transfers grows, issues of data security and privacy become critical. In the past few years, along with the growth and maturation of the blockchain industry we've witnessed an increase in security breach attempts, both unsuccessful and, sadly, those that have led to significant loss of both value and privacy. In 2023, cybercriminals stole at least $1.7 billion from crypto platforms.
These disturbing stats only cover direct financial losses — the crypto funds snatched away from blockchains or decentralized apps (DApps). However, in addition to these immediate losses, the business operations of DApps also experience loss of trust from customers and degradation in operational capacity.
NuLink (NLK) is a decentralized protocol that aims to address security and privacy issues on blockchains by providing advanced solutions for secure data storage and sharing. This Ethereum-based platform offers DApps the ability to protect their stored or transferred data using security and privacy technologies, such as zero-knowledge proofs.
Key Takeaways:
NuLink is an Ethereum-based protocol whose advanced data encryption techniques help DApp operators and developers secure their data exchanges and computations.
NuLink's product and service line is mainly based on the utilization of four encryption technologies — ZK proofs, public key encryption schemes, proxy re-encryption and fully homomorphic encryption.
NuLink's native token, NLK, is an ERC-20 token that powers the NuLink ecosystem and can be bought on Bybit as a Spot pair.