Decentralized VPN powered by Blockchain with Mysterium
Recently, it has become easier and easier for internet service providers, governments, and corporations to harvest internet user data such as identifying information, browsing and purchase history, and other data The ease of this data harvesting will only become easier and time passes and our lives rely more and more on the services the internet provides.
And it isn’t simply corporate interests that are after user information. This is also a security concern. Cyberattacks and hacking can make anyone a victim of identity fraud and personal attack. The internet as we know it now is not private. Many companies are trying to change that, and one of them is the Mysterium Network.
Mysterium released their whitepaper recently, and it outlines their method of creating a decentralized VPN service that promises to increase user privacy. Outlined within is a protocol that destroys sensitive use data through encryption. The information is basically encrypted and thrust deep into the network to the point of being useless as a data mine. Mysterium envisions this platform to be used on demand whether at home or while on public Wi-Fi.
One of the goalsof Mysterium is to create a decentralized VPN. Virtual Private Networks have been around for years and have offered users a way to extend a private network across a public network, thus allowing users to send and receive data as if they were connected to a private network. VPNs have been used in conjunction to proxy servers to protect their personal identify and location.
However, the problem with traditional VPN services is that they are very centralized. Private date remains in the hands of one company or corporation that is more focused on profits than protecting the security of their users. Because traditional VPNs are so centralized, it also means that access to data is still easy and simple.
ium aims to change that by creating a decentralized VPN service. By doing so, they hope to benefit participants in ways traditional VPNs could not As well, private user data will be difficult for third parties to harvest. Mysterium does this by pooling together computing power to make a distributed network of nodes. Users can then use these nodes for secure VPN connections created on demand. As such, people can use only what they need without having to pay for the expensive services provided by traditional VPNs.
To pay for this service Mysterium has created a new cryptocurrency called MYST. This currency acts as an access and permissions token. Those who contribute to the platform by sharing a portion of their bandwidth will be rewarded with MYST. In this way, prices are forecasted to be much more affordable than tradition VPN service providers. CORE, a built in trading platform, will handle the sending and receiving of MYST through a protocol that proves contribution.
Only time will tell how well Mysterium’s platform will work as an on demand VPN. Their crowdsale of MYST tokens took place on May 30th, and currently Mysterium is still in it’s first phase of two phases outlined in their whitepaper. Prospects are optimistic, and many believe Mysterium will provide an increasingly valuable service. For now, many have begun to invest in this company with hopes of a safer and more private internet.