Published on May 20th, 2017 | by olcaytu2005
What is Mysterium?
A new beginning: Mysterium
I can’t really remember the last time I was this excited about an upcoming project in the crypto world. Maybe when Vitalik opened his thread on bitcointalk, called “Welcome to the beginning…”. Well, this time, I welcome you all to the beginning. The beginning of one of the best projects on Ethereum to this date. Unlike others, this has a real world use and it’s already in the beta. Let’s talk about some awesomeness.
Mysterium Network is a fully decentralized peer to peer VPN platform. What this means is that people will be able to sell their internet bandwith to those who needs VPN service. Basically, the one who wants to make some more – on in this case MYST – will setup a Mysterium Node and start broadcasting his internet to the Mysterium Network. This internet will be pooled with other renters. When on the other hand, someone that needs a VPN service installs Mysterium Client and Kaboom! he directly buys VPN service through the node pool Mysterium provided.
The buying and selling through the platform is performed with the local token called MYST. Needless to say, MYST will be ECR20 token on Ethereum, thus it will benefit from the fast transactions Ethereum blockchain has to offer. The system has an integrated price calculator called the CORE. The cost of VPN services will be determined by node operators. This will create a perfect market. The prices will decrease the as the quality of service increases.
The main difference of Mysterium Network from other VPN providers is Mysterium Network being completely decentralized. This means no one will ever be able to store your internet traffic. No one will be able to sell your data to 3rd party. You will never be subject to 3rd party data auctions. Believe it or not, the VPN providers on the internet also stores your traffic and sells them online according to Electronic Frontier Foundation.
You can start using or testing out the node software right now at: https://mvp.mysterium.network
The token creation event will start on 30th of May, 13:00 UTC.
You will be able to transfer your tokens right after the token creation event ends. Find out more at www.mysterium.network
Link to whitepaper: https://mysterium.network/whitepaper.pdf
Join our Slack community: http://slack.mysterium.network
Our Telegram group: https://t.me/mysterium_network
Follow us on Twitter : https://twitter.com/MysteriumNet