Zug, Switzerland, 10th May. Mysterium have released their white paper showcasing a new model for a blockchain-based virtual private network (VPN). Mysterium is developing the first fully decentralised and distributed VPN in an effort to safeguard online privacy. The whitepaper, released for comment today, outlines their vision for a global peer to peer network that combats the risk of cybercrime.
The internet today is neither open nor private. Large corporate entities are increasingly self-proclaimed gatekeepers of the web causing it to operate as a centralised service. The problem with this trend is that we are now subjects of wide-scale data harvesting. There are big economic benefits to be gained from selling browsing data, but invasive online surveillance tactics are putting our security at risk.
Mysterium is tackling the problem with a new vision for a fully decentralised VPN service that puts users privacy first. The white paper outlines a protocol that is designed to ‘dissolve’ users data through a process of shredding, encrypting and sending it deep into the Network. The Mysterium platform is designed to provide this security layer on demand, whether browsing at home or in a public WiFi hotspot. Mysterium can also be used to protect sensitive data against cybercrime for example, in healthcare, BFSI and telecommunications industries.
So how does it work? Mysterium pools computing power to create a distributed network of nodes. Nodes are then made available to those needing secure VPN connections on demand. Users who share their excess bandwidth to the network can earn MYST tokens in reward. MYST is the native token of the Mysterium network operating as an access and permissions token. An inbuilt trading platform called CORE will manage the give and take of services on the network through a proof of contribution protocol.
According to MarketResearchFuture the global VPN market is expected to reach $106 billion by the end of 2022 with cybersecurity as a ‘major driving factor’. With it’s mission to provide privacy to all Internet users Mysterium are bringing cybersecurity into sharp focus. The Mysterium team firmly believes in a future where users are protected from being subjects of corporate and government interests. Mysterium will be a key platform to powering this future with the highest levels of transparency, resiliency and security.
Mysterium launches the crowdsale of it’s MYST tokens on 30th May, 13:00 UTC.
To find out more about Mysterium please visit a website.
To comment on the white paper, join the Mysterium slack channel here.