PolkaCipher (CPHR) is a privacy-preserving oracle network based on Polkadot, which claims to be a bridge for effortless integration among the on-chain DeFi apps. PolkaCipher's distinctive offerings intend to push the use-case of the NFTs in systems of the real world while still being linked to a cross-chain network that claims to be accurate and fair. In other words, PolkaCipher seeks to accomplish business objectives by helping traders transact securely and privately utilizing NFTs as a method of access to real-world businesses and various decentralized apps (Dapps). PolkaCipher aims to break the wall between real-world data and blockchain via the commercialization of NFTs and speeding adoption of DeFi into everyday lives.

At Polkacipher, the following design principles are claimed to exist:

CPHR token is native to the platform. Application Data Requester (ADR) can receive data services during the cycle of mining without expending native tokens. The oracle node's earnings are subsidized by a part of reserved tokens for mining. After completing the mining cycle, the data is accessed through staked CPHR. A minimum of ten CPHR are staked, paid each time separately.

PolkaCipher was founded in the fourth quarter of 2020. Akhil Gupta is the chief executive officer of the PolkaCipher platform. The founding team includes Bella Szabo as chief marketing officer, Laurence Diederich as the chief strategy officer, and Rohit Giri as full stack developer.