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A breakthrough in mathematics enables new, non-blockchain, Web3 use cases that go beyond traditional distributed ledgers, crypto and encryption.
Quantum-proof Secure Storage With Nillion Network
Much-anticipated Web3 startup Nillion announces the appointment of Lindsay Danas Cohen as General Counsel. Danas Cohen, a former top lawyer at Coinbase and Bloomberg, joins a team of technology leaders including CTO Conrad Whelan, the Founding Engineer of Uber, that is using breakthrough technology to create the first fully decentralized secure multi-party computation (MPC) network in Web3.
By leveraging new, non-blockchain, proprietary technology, called Nil Message Compute (NMC), Nillion is able to fragment data into hundreds of pieces that are distributed across the Nillion network. The network enables an innovative way to protect private and sensitive data while still allowing for scalable computations to be run on the fragmented data. This cutting-edge solution is faster, more private and more secure than both existing blockchain technology and encryption. It allows for the quantum-proof, Information-theoretic secure storage and computation of sensitive information, including passwords, private keys, medical data, financial information and much more.
Danas Cohen, said:
“The innovative technology underlying Nillion is introducing privacy as a feature to Web3 which is incredibly exciting and I believe it will change the world. In the short-term, Nillion will help improve the safety and efficiency of things like customer identity verification for companies. The long-term possibilities are endless, with potential use cases across sectors including healthcare data, government identification, secure online storage of digital assets and more.”
Since it was founded in 2021, Nillion has grown to a team of 40 people, including multiple ex-founders of prominent tech companies across Web2 and Web3, with no external funding.
At Coinbase, Danas Cohen held the title of Associate General Counsel, and was responsible for navigating the legal landscape related to building decentralized Web3 finance (DeFi) products for retail investors. She was also notably part of the corporate team at Bloomberg where she helped build the company’s Bloomberg Law product.
Nillion is the first fully decentralized and permissionless Nil Message Compute (NMC) network for Web3. Nillion’s NMC technology allows nodes in a decentralized network to work in a different, non-blockchain, way. Unlike blockchain, network nodes do not run immutable ledgers designed to store transaction data. Instead, Nillion’s NMC nodes are purpose-built to perform secure computation in a verifiable and fault tolerant manner. The technology therefore opens up unique use cases that can be both used to enhance existing blockchains and provide services with its standalone native network (the ‘Nillion Network’).
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