Nillion aims to attract projects that intersect blockchain with AI, where large data needs to be shared and stored securely.
Nillion's security protocol raises $25 million, bringing the total raised to $50 million
Nillion, a computing network developed to solve security issues for high-value data (HVD), has successfully raised an additional $25 million through the latest token sale round, led by Hack VC with participation from funds such as Arbitrum, Worldcoin, and Sei.
This round has increased Nillion's total funding to $50 million, with $3 million in the Pre-Seed round and $22 million in the previous Seed round.
We are excited to announce a total of $50M raised, with our latest $25M round led by @hack_vc. pic.twitter.com/pFkey0oqQ7
— Nillion (@nillionnetwork) October 30, 2024
Nillion builds its service based on the concept of "blind computing", a data processing method that does not require revealing the content. This allows the creation of an ecosystem of collaborative applications without the need to disclose sensitive data.
Nillion is decentralizing HVD using cryptography, not only as a defensive strategy against threats but also as a proactive step towards new use cases to make the data ecosystem more equitable.
High Value Data (HVD) refers to extremely important information for an organization or individual due to its significant impact on people's lives, such as AI data, commercial transactions (leverage orders and limits), identification data, healthcare, decentralized social media, passwords, and biometric data.
Nillion is built to target projects that intersect blockchain and artificial intelligence (AI), where large data needs to be shared and stored securely.
With its approach to handling high-value data, combined with the intersection of blockchain and AI, Nillion can address the following issues:
- Secure storage needs.
- The ability to compute on stored data without compromising security.
- Achieving decentralization in data management.
Currently, Nillion has a number of well-known partners, including blockchain networks such as NEAR, Aptos, Arbitrum, Ritual, and many others.
Compiled by Coin68
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