PolkaCipher CPHR Price N/A

PolkaCipher is a Polkadot-based privacy-preserving oracle network focused on bringing the use case of private NFTs to off-chain businesses and be a bridge for seamless integration to on-chain Defi apps.

PolkaCipher's unique offerings help push the use-case of the NFTs in real-world scenarios while still being connected to a cross-chain network that is fair and accurate. PolkaCipher intends to achieve business goals by helping users transact privately and securely using NFTs as a mode of access to different decentralized apps (dapps) and real-world businesses

Project

At PolkaCipher we aim to finally break the barrier between blockchain and real-world data through the commercialization of NFTs and accelerating adoption of decentralized finance into everyday lives.

Although demand for such services is vast, we are focused on one niche, "The Commercialization of NFTs".

Our NFTs can be used to privately transact between two parties without revealing any information to the public and can be made fully or partially available upon request. Our private registry will use Merkle proof to secure data in our NFT registry. Once data is secured, we will provide an anchor for the registry to be accessed by the user to mint/distribute NFT with other parties.

Business NFTs have huge use-cases. Some of them are as follows:

1. Insurance
2. Gaming
3. Legal
4. Finance, etc.

Private NFTs can be used to issue insurance documents, allow access to games, do legal transfers, and used as collateral to issue loans and much more. We aim to be at forefront of this enterprise integration and blockchain revolution

Products

Our platform will have products over multiple product upgrades:

Truss - Lending/Staking/Mining Platform

• As the name suggests, an ecosystem where you can Lend/Stake/Mine the $CPHR token to generate more rewards by empowering systems and data collection nodes, acting as the pillars of PolkaCipher's vision.
• Our token plays a centric part in PolkaCipher's chain functions by rewarding the data providers for correct and effective data supply and community through staking and mining features.

eData - Secure Data collection for Businesses

• PolkaCipher can securely hold your data behind an NFT secured by specialized vaults that can only be accessed through the NFT's like a key. These NFT's can be minted privately or publicly based on the user's choice. Users need to stake a certain amount of tokens to activate the locker. These lockers can hold anything from images to legal documents.

bNFTSs - Business focused NFTs

• bNFTs is the term for our privacy-enabled business document solution that can be privately minted, distributed, and collected. If you wish to receive your salary by the end of the month, a bNFT with a time lock feature can be minted that will allow you to withdraw your payment from a specific wallet once after 30 days of work. Our lockers will securely store those tokens for 30 days after which point they will become available automatically, once the time lock period expires, or until the assets are withdrawn.
• bNFTs can also work as a legal document, ownership transfer, access pass, website login, and even Insurance and business contracts with an option to transact privately or publicly.

CipherDEX - bNFTs trading platform

• CipherDEX will be a privacy enabled fully compatible DEX with EVM chains built on Polkadot, allowing anyone to trade bNFTs privately and securely that were minted on PolkaCipher's network. You can buy/sell other NFT's through PolkaCipher's DEX and secure your acquired NFT's under a locker using PolkaCipher's eData lockers.

SuperStable - Cross-chain StableCoin ecosystem for eData, bNFTs, and Truss.

• PolkaCipher's ecosystem provides a vast amount of services that work towards the commercialization of NFT's for the general economy and real-world business. PolkaCipher's cross-chain StableCoin ecosystem will help users secure, gift, mint, or transfer bNFTs using any StableCoin that is available on the polkaCipher's SuperStable ecosystem.

Designs Principles

Private Data collection and distribution

• The collection and distribution of data for application purposes should be kept private. To accomplish this, all data transmitted via the blockchain is encrypted and secured using zero-knowledge proofs to ensure data privacy.

Maintaining data integrity

• To ensure the data is collected and distributed is fairly, we use economic incentive models to reward or penalize the data providers

Community Governance

• PolkaCipher will be fully community-owned through governance tokens and users will have the right to decide on the direction of the project

Cross-chain compatible

• PolkaCipher is fully cross-chain compatible and will use its own bridge to move NFT's across multiple blockchains.