Mysterium - a decentralized VPN service that makes you safe and earns you money

in #cryptocurrency7 years ago

LOGO_LETTER.png

What is Mysterium?

In short, it is basically a Decentralized Network of VPN nodes, which acts as a marketplace. It allows anyone to join the network both as a provider – selling their unused network bandwidth, or as a customer – buying VPN service from the Mysterium Network providers. You can imagine it as a combination of a classical (centralized) VPN and the Tor network, with advantages over both of them.

The advantage over a classical VPN is obvious - it's decentralized. Almost all VPN providers tell you that they will never keep any record of your activity or traffic logs. But do you really trust them? I don't, because they possibly can. With decentralized VPN, you don't have this problem anymore. Moreover, if you live in a not-freedom-friendly country, your internet service provider can block the VPN IP address(es). But wait, Mysterium will have thousands of ever changing IPs... try to block that, big brother :)

Compared to Tor, there's a speed advantage. Have you ever used Tor? I did. And I can tell you it's usually slow. Very slow. And do you know why? It's because the "nodes" (a.k.a. people donating their electricity and badwidth) are not incentivized for doing so. In Mysterium Network they are. So it's in their own interest to provide fast and reliable connection, because that's what is earning them money.

The whole functionality concept behind is a bit more complicated, but it is well described in the Mysterium Network's whitepaper (link).

The beginning

The Mysterium Network has been founded in October 2016. After raising more than $14 million in an ICO in less than an hour in May 2017, the team is working on building the whole platform, which is indeed a challenging task. While working on the product, the developers are thus looking for and hiring new team members. The core of the network is being designed at the moment, which is indeed the most important part where no mistakes can be made.

Expected user base growth

Considering the political situation in quite a few highly populated and economically important countries, the potential user base is enormous. Some of us can visit (almost) any website we want, use (almost) any app we want. But some people are not that lucky and have to use VPN to access some of the services. But what will they use when the classical VPNs get blocked by their governments? Guess :)

monaco-logo-large-2.png

Economy

Mysterium tokens, the backbone of the decentralized VPN's economical system, are already being traded on two exchanges - a smaller one called Liqui (link) as well as on one of the biggest altcoin exchanges Bittrex (link). Since a new monthly devepment progress update is expected to be published within a few days, we have seen increased trading volumes and volatility on the markets in the past week. The Mysterium token price currently stays in the range of 0.0002 – 0.0003 MYST/BTC, but we will probably see some (most likely upwards) movement when the news from developers are published.

More information at and images courtesy of: https://mysterium.network/

Sort:  

VPN is very safe networking

It is indeed. And decentralized VPN like Mysterium will be even safer.

Yes, decentralized VPN was really great idea. Mysterium Network has very bright future.

This post received a 2.11% upvote from @randowhale thanks to @timehacker! To learn more, check out @randowhale 101 - Everything You Need to Know!

Ok now that is neat. Thanks for bringing it to my attention

If the VPN can give safe Internet browsing and even gives you money then I am joining it right now.

I recommend that you study the project thoroughly, then you will understand the advantages over traditional VPN providers and generally learn important information for your own security and privacy

Yes, noticed Mysterium recently and the project is really great. It deserves the attention it gets last days.

Great post and I wish steemit had a sticky or pin option because this is one of those special posts. ??

Nice, I'm in China, need to look into this. They keep threatening to block all VPNs, though they have been saying that repeatedly over the years but still - definitely watching everything I do!

Decentralized VPN could be a good option for you then. I think that blocking the whole decentralized VPN network should be close-to-impossible.

This is what we really need!...It is VPN - decentralized system.

Everyone who is looking for privacy on the internet can reconginze benefits!

The @OriginalWorks bot has determined this post by @timehacker to be original material and upvoted it!

ezgif.com-resize.gif

To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!

For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!