Introduction
It was a cold Monday evening in the end of November 2021 when I was passing the entrance of the Old Divinity School of St. John's College in the University city of Cambridge, UK to attend a last minute mysterious event organised by the Cambridge Blockchain Society in collaboration with Cambridge University Technology & Enterprise Club (CUTEC) about the NILLION Project with title "Nillion: Introduction to an unhackable decentralised network". The project has been presented from the Nillion Project Founding Team that includes Dr. Miguel de Vega, a cryptography expert and Andrew Masanto a crypto-entrepreneur of various fintech startups and marketing expert and honestly I was extremely curious to attend what was all about especially since it was the first time that a crypto-project would have been launched at the University of Cambridge.
Passing through Middle-age corridors, dungeons and stairs of the Old Divinity School of St. John's College, I was found at the school's auditorium where the presentation took place and the event was actually the first ever presentation of the NILLION project to the academic world and Cambridge University has been the first academical institution that hosted a talk about the NILLION project.
The Nillion Project
Dr. Miguel de Vega who is one of the co-founders of the project and Chief Scientific Officer of the Nillion Labs, explained in the launch event that with the rise of Web 3.0, privacy and data control is becoming increasingly more valuable. The NILLION Project's ambition is to deploy an unhackable decentralised network using Information Security Technology, that can store, utilise and compute sensitive information without ever holding the underlying data according to the industry needs. The innovative technology used after the upgrade of the underlying initial NILLION algorithm, is termed as NMC after Nill, Message, Compute (Repeat) and it's ambition is to solve the famous Blockchain Trillemma, providing REAL Decentralisation in the form of Instant Consensus, REAL Scalability in the form of speed of transactions and REAL Security in the form of unconditional & unhackable security of transactions.
More thorough information about the project can be found in my relevant article with title "The NILLION Project launch at the University of Cambridge".
Yet, in a more elaborative description at CoinmarketCap, the Nillion Project can be well defined as a a "blind computer" – a private computation and storage network for AI and data. The network uses PETs (Privacy-Enhancing Technologies) to enable computation and storage on data while maintaining privacy, making possible use cases like private personalized AI, encrypted databases, and privacy-preserving applications.
Moreover, Nillion Project announced recently on X but also at the official website, the tokenomics of the $NIL, the native token of Nillion, that it has been developed to play a central role in the network’s security, governance and long-term objectives of Nillion. In brief, the core functionalities of $NIL include:
- Coordination Services
- Blind Computation
- Staking
- Governance
According to CoinMarketCap, the NILLION project has attracted some of the top talent in tech, including the founding Engineer of Uber (Conrad Whelan), the founder of Indiegogo (Slava Rubin), the Associate General Counsel of Coinbase (Lindsay Danas Cohen), the Head of Innovation Partnerships at Nike (Mark McDermott) and several other high profile team members and advisors.
Nillion at the Binance LaunchPool
It has been 3.5 years since that cold November Monday and the launch of the Project at the auditorium of the St. John's College at the University of Cambridge, and to be honest, the project has been completely forgotten and completely out of my personal radar for the whole of that period. Recently, I received a newsletter from Binance announcing the launchpool of a new token and with a huge surprise, I realised that that token was the native token of the Nillion Project!
According to the email I received, and the official Binance LaunchPool blog, the farming of $NIL will take place from 21st March (02:00 am) until the 24th March (02:00 am) and there are 2 options available for the participation in the event:
- Automatic Participation, which means that no particular action required, if you have BNB in staking on: Simple Earn (flexible/fixed).
- Manual participation by "staking" your BNB and USDC in the Binance Launchpool section.
The final Listing of the project on Binance, will take place on 24th March at 03:00 pm.
Final Thoughts
3.5 years ago, the NILLION Project was a big shout at the University City of Cambridge claiming their ambition to establish a Layer-1 Protocol that would solve the Blockchain Trilemma. During that period several other projects launched to earn that privilege such as the SoftNote project as it is described in my relevant article with title "Join the SoftNote 1M Transactions Revolution" without any further technological or commercial progress for the time being. And I really hope that the NILLION Project will be successful in its attempt.
Undoubtedly, the participation of my funds in the LaunchPool is a common sense. I already have a substantial amount of BNB locked and I have already transferred there my USDC earnings from a writing contest that took place on Publish0x after moving them from the OP Layer-2 Network to the Ethereum MainNet using the ACX Bridge utility. And I believe that putting my funds into work at Binance LaunchPool to earn my first $NIL tokens is a blessing after being one of the first crypto-enthusiasts that had the privilege to attend the official launch of the NILLION Project 3.5 years ago.
NILLION Project available web sources
Official Website [https://www.nillion.com]
Official Twitter [https://twitter.com/nillionnetwork]
Official Linkedin [https://www.linkedin.com/company/nillionnetwork/]
Disclaimer: All information found on this article is for informational purposes only. I do not provide any personal investment advice so please make your own research before proceeding to any investment/trading actions
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