NuCypher (NU) tokens are used on the NuCypher network to incentivize network participants for providing key management services and accessing delegation/revocation operations. NuCypher is a decentralized encryption, access control, and key management system for public blockchains, offering end-to-end encrypted data sharing and decentralized storage solutions. NuCypher uses proxy re-encryption (PRE) technology to securely share private data between multiple participants in public consensus networks. NU tokens are also used for staking to run a NuCypher worker node, participating in the NuCypher DAO, and validating DAO proposals. The NuCypher network is protected against malicious staking and automatically slashes suspected users' rewards.
