Privacy security computing network Nillion completes $25 million financing, led by Hack VC

ChainCatcher news, according to CoinDesk, the privacy-preserving computing network Nillion has completed a $25 million funding round, led by Hack VC. This funding brings Nillion's total financing to over $50 million, with investors including Hack VC, Distributed Global, and HashKey.

According to RootData, Nillion is a decentralized public network based on a new cryptographic primitive called Nil Message Compute (NMC), which allows nodes in a decentralized network to operate in a unique, non-blockchain manner. Nillion unlocks important new utilities in Web3 by enabling use cases such as decentralized credit scoring, decentralized trusted execution environments, private NFTs, and decentralized secure storage services.

Previously reported, in December 2022, Nillion completed a $20 million funding round, led by Distributed Global, with participation from AU21, Big Brain Holdings, Chapter One, GSR, HashKey, OP Crypto, and SALT Fund.