MYSTERIUM - Decentralised VPN on the Blockchain
There's another new addition to my project watchlist called Mysterium with a Phase-1 ICO happening at the end of May. It didn't seem all that interesting to me at first because I assumed right away that not many people care about VPNs. But I've reconsidered it and went through the whitepaper after @lpfaust's advice to do so. Indeed now I think the project has potential since it could begin operating as a gateway into the new Internet.
In my opinion, the cryptoeconomics of this project seems to be quite feasible as it can penetrate and decentralise already existing VPN services out there. Plus, the performance of a decentralised VPN marketplace isn't quite on the same playing field as the likes of iEx.ec and Golem where advances in cheaper and faster computations are merciless, cost-competitive. In fact, I think decentralised computing networks such as those are going to enable VPN provision much easier for anyone participating in the Mysterium network.
Keeping it short, here are two excerpts taken out of their comprehensive whitepaper:-
Mysterium aims to be fully decentralized, peer to peer based and serverless node network, designed to provide privacy restoring techniques to its users and financial incentivization to its node operators (providers). Mysterium achieves this goal by utilizing already existing technologies such as Ethereum blockchain, smart contracts advancing their features with state-channels and evolving mechanisms of promises, combined with censorship evasion protocols developed by the community acting as applications of the network.
Further reading
- Whitepaper: https://mysterium.network/whitepaper.pdf
- Website: https://mysterium.network
Upcoming ICOs on the watchlist
- https://eos.io (ICO / distro unclear)
- https://aragon.one
- https://bancor.network
- https://basicattentiontoken.org/
@kevinwong thanks for the mention. I generally try to stay away from ICOs, but I think this one has tremendous potential and a nice sized target market to serve.
I share your concerns about the Ethereum blockchain scaling issue. I'm curious to see what the solution they present as more and more applications build on top of it.
I think they'll manage.. more than enough marketcap to pour enough resources into figuring out hte solution..
With the recent global ransomeware cyber attack, people online are beginning to look into Cyber Security where VPN comes in. I am going to get this coin.
First of all - don't simply click on everything on the internet! Lol but yeah i think mysterium is a good part-of-the-solution :)
The ransomware attacks a whole node. So even if a computer on that network didn't click anything but another computer on the same network clicks, the whole network is affected. But still, your advice is the best way to stay safe online "don't simply click on everything on the internet! ".
I am reading the whitepaper now.. Thanks for sharing @kevinwong
Who is mysterion?
...eer mysterium
The name rocks.. token name MYST. Must buy just because of the winning name.. lol
It does have a sweet name yeah :D
Yep, this has been on my watchlist too, since it was announced.
Keeping my eyes on this one!
I really hope Ethereum works out with its scalability.. and projects have to have fallback plans easily porting to other networks..
I agree, just as SJCX is moving across from XCP to ETH, the most scalable, versatile , economical, efficient, versatile and secure blockchain will attract the most promising projects.
Have you been looking at Tezos at all?
Nope kinda worry when seeing a billionaire saying he wants to get in on Tezos lol. What, he'll own 51% of the tokens?..
51% of the tokens?
short your majority deep into the buy side, cause panic dumps, building an even bigger bag longterm on the scoops......pump it back up in the interim and make everybody buy back in at a higher rate - Draper the Market Maker :)
I'm not saying it'll happen, but it's possibility.
I might pick some up for the ride!
This really does look interesting i might get a few coins of these.
It is :) happy shopping lol
After read this I think to reconsider to learn more about cryptocurrency. ...a..ha..ha.. ! :)
Please do.. it's becoming big :)
I don't see how it is any different than golem
GNT will be for something like AWS's EC2 and Lambda services. The Mysterium protocol is focused specifically for decentralising VPN services
I am trying to be cautious with all these icos. Way too many and I don't want to spend my Eth carelessly. I am already pretty thin-spread across the board :)
Which ones are u supporting and looking forward to?
Cosmos, Bcap and Iconomi are my favorites since they offer a nice index cover.
Aragon, Bancor and EOS are game changers and the last I am going to invest for this year. All the rest I might think about it after they come out on the market.
Hmm i was holding ICN until doubting the buyback would work.. but might get into it again when price point is okay. Nice that u got into Cosmos! Yeah I think i'm on the same page too, I think that 3 would be the last ICOs this year.. until some really good ones come along i guess.
Sounds interesting. Pity its only Linux at this stage, do you know if there will be plans for other OS's?
:)
I'll check back in June.
I am really interested in this technology.
Nice post !!