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Summary of Mysterium Network
Key Points
- Mysterium Network is an open-source ecosystem for a borderless and accessible internet.
- Raised $14 million CHF in a token sale.
- Powered by a permissionless, peer-to-peer network.
- Allows users to rent spare internet resources for cryptocurrency.
- Network is tamper-proof, anonymous, and encrypted.
- B2B Network-as-a-Service enables enterprise-level services.
- Mysterium VPN available for Android, Windows, Mac, and Linux (iOS in 2022).
MYST Token
- Utility token for friction
Unveiling Mysterium: A Beacon of Decentralized Freedom
Mysterium Network: A Decentralized VPN Ecosystem
Mysterium Network is an open-source ecosystem comprising protocols, tools, and Web3 infrastructure, dedicated to rendering the internet borderless and universally accessible. By providing users and builders alike with the necessary tools, the network ensures the safeguarding of online anonymity and equal access to information for all. Notably, Mysterium successfully concluded a token sale, securing $14 million CHF in funding.
Mysterium is fueled by a decentralized, peer-to-peer network that operates on a permissionless basis. By repurposing their devices as nodes, individuals can monetize their excess internet resources, such as bandwidth or IP addresses, in exchange for cryptocurrency rewards. This network boasts a trifecta of security features, including tamper-evidence, anonymity, and encryption, akin to Tor, but with enhanced usability, stability, and speed.
Mysterium’s B2B Network-as-a-Service establishes a robust foundation for the development of a wide range of enterprise-level services, including its flagship product, the Mysterium VPN, which is available for Android, Windows, Mac, and Linux, with an iOS version slated for release in 2022. This innovative technology empowers developers and entrepreneurs to create private, censorship-resistant tools, while enabling businesses to expand their product offerings globally, ensuring secure and unfettered access. Notably, the technology is seamlessly compatible with both Web2 and Web3 platforms, allowing for effortless integration with a diverse array of applications, including VPNs, proxy services, DeFi wallets, browsers, search engines, data scraping solutions, and streaming apps, thereby infusing censorship-resistance into the very fabric of the apps we use daily.
Introducing MYST: Unveiling the Mysterious
At the core of the Mysterium Network lies MYST, a utility token that facilitates seamless, peer-to-peer micropayments. Within the network, MYST enables users to make frictionless payments, while node providers, offering VPN services, receive MYST as compensation. The Mysterium Network has developed its proprietary Hermes protocol, a cutting-edge micropayments infrastructure, ensuring rapid, anonymous, and censorship-resistant transactions.
In 2022, Mysterium is poised to be among the pioneers in integrating the IQ Protocol, a groundbreaking innovation developed by PARSIQ. This protocol empowers the Mysterium Delegation Pool, a revolutionary, risk-free, and collateral-free solution that enables MYST holders to stake their assets and earn rewards in the form of DAI stablecoin. Node runners can stake MYST to operate a node, while nodes can rent MYST from the delegation pool without any initial capital outlay, with a portion of their earnings allocated towards repayment. This decentralized finance (DeFi) mechanism incentivizes stakers, with their stake growing proportionally to the pool size and network traffic.
MYST is an ERC-20 token, augmented by the incorporation of ERC-2612, a permit function pioneered by the DAI token and later popularized by the Uniswap team.