Hey everyone! Today I am going to give you information about Nillion. Here you will find answers to your questions. I’ve put a lot of time and effort into research and this article will be as simple as possible for regular users.

*I will tell about its security, technology, structure, investments, team, and socials.

So, what’s the Nillion Network?

• Nillion is the first decentralized, trustless, and permissionless network for web3. It uses NMC tech.

What is NMC?

• NMC is Nil Message Compute, a revolutionary technology from Nillion that makes decentralized networks faster and more secure.

• NMC allows nodes to process data without exchanging any information, resulting in near client-server speed for calculations. This makes it an ideal solution for scalability issues facing traditional Secure Multi-Party Computation (SMPC).

• It’s secure, and cannot be spied on or changed.

What capabilities will NMC nodes offer?

• TransferNMC nodes securely transfer data with Information-Theoretic Security, protecting against malicious actors who cannot interfere since data is particularized, concealing any underlying information.”

• StorageNMC nodes provide IT security for data retrieval when requested by users, such as storing private keys with cryptography’s highest standard of security.

• ProcessingNMC nodes can use Info-Theoretic Security to process data, like signing a transaction without reconstructing the private key.

Is Nillion a layer 1?

• Nillion isn’t a Layer 1 solution. It connects with Layer 1s to support decentralized data processing. Nillion boosts blockchain utility by providing private storage, transfer, and computing capability.

Is Nillion a Blockchain?

• No, there are no blocks, and the focus of the network is not on ordering transactions.

• Blockchains like Bitcoin were designed for a decentralized ledger but NMC networks like Nillion focus on data processing.

• In contrast to blockchains, each node holds only a fraction of what’s needed for multi-party computation.

Benefits to existing blockchains

• Decentralized ProcessingNillion provides better processing than blockchains; it doesn’t require nodes to communicate and can do computations blockchains can’t (like private computations). This opens the door to new uses like private payment processing and deeper integrations between traditional and decentralized finances.

• Private data on public blockchainsBlockchains lack privacy, limiting the expansion of current blockchain systems in use cases with private data. Nillion network stores and transforms data using Info-Theoretic Security, making identity inference on public blockchains nearly impossible. Thus, securely managing private data on a public network is made possible by Nillion.

• InteroperabilityIn Nillion’s Meta Layer, MPPs can link complex systems across chains and protocols, allowing bridges, liquidity aggregators, and chain-agnostic applications with on-demand access to liquidity. For example, MPPs enable a unified multi-chain wallet where users securely store private keys from various chains.

• Scaling solutionNillion could make sidechains faster and more secure by using its agreement mechanism, which doesn’t need messages exchanged between nodes. This could improve security and speed compared to existing solutions.

How is data stored in the Nillion network?

• Nillion’s layer acts as the base for data storage. Built on a DHT, data is spread across nodes that hold only a fraction — different than blockchains where all nodes possess prior transactions. Nodes can join and leave, storing particles, data items, and blinding factors in the decentralized system.

Can data stored on Nillion still get hacked?

• Yes, technically, but it’s almost impossible.

• Sensitive data is stored as particles across many nodes in a network, making it unrecognizable. To find the right particle and make it recognizable again, a hacker would need lots of shares of a blinding factor — which they won’t know how to get.

Who’s behind Nillion?

• CTO Conrad Whelan was the Founding Engineer of Uber. I highly recommend watching his story on YouTube (https://www.youtube.com/watch?v=RJPBEsuvWus).
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• Chief Scientist Dr. Miguel de Vega is the inventor of Nillion and has authored 30+ global patents.
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• Head of Cryptography Dr. Elizabeth Quaglia is a senior lecturer at Royal Holloway, University of London.
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• CEO Alex Page is an ex-Goldman Sachs investment banker and Hedera SPV GP.
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• Director of Crypto Tristan Litré was previously CTO of a DeFi platform.
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• CBO Slava Rubin was the Co-Founder and CEO of Indiegogo.
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• CSO Andrew Masanto started two of the top 100 cryptocurrencies (Hedera Hashgraph and Reserve).
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• CMO Andrew Yeoh is an ex-UBS/Rothschild investment banker and Hedera SPV GP.
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• Head of Ecosystem Mark McDermott previously led innovation partnerships at Nike.
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• GC Lindsay Danas Cohen is the ex-Coinbase Associate General Counsel.
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Investments

• Nillion raised 20M$ during the seed round led by Distributed Global.

Nillion’s socials:

Twitter / Discord / Website / Telegram / YouTube

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My socials:
Twitter — https://twitter.com/KOLYWAN6388
Discord: KOLYWAN#6388