🔰Mysterium: Decentralised VPN Network🔰
In today's post, we will have a look at yet another potential cryptocurrency and have a look into the tech and really get a perspective on what this cryptocurrency is aiming to achieve.
So, first up Mysterium has a beautiful website. Its concept is clear and understandable and that's one of the best things that I like about it. I think it's going to be easier to get picked and adopted.
The Objective
The objective of Mysterium is to do a decentralized VPN powered by blockchain technology. So those of you who don't know what VPN is, it stands for Virtual Private Network. It's a way you can surf the web in a sense anonymously or at least untraceable so people cannot tie any kind of search history. Many people can correlate with the deep web.
A lot of people use VPNs generally in countries like China where there's a lot of government censorship and restrictions and they don't allow them to visit simple websites like Facebook. So there's a huge market for VPN, but at the same time, there are a lot of flaws with VPNs as well that Mysterium network is trying to fix.
Mysterium Network acts as a marketplace, its Open Source software allows anyone to join the network both as a provider – selling unused network traffic or as a customer – buying VPN service from other Mysterium Network providers.
If you guys are still not clear with what Mysterium is I recommend you to watch the below video to make things more clear.
Difference between Centralized and Decentralized VPN
VPN companies are very centralized they usually have a hub where everybody connects to and it says that's their IP address. In centralized VPN your private data is in one hand and that means you are very susceptible to that information getting transferred. I would say the majority of the VPN service providers keep your information safe but there are some cases where there have been leaks of information.
Please check out the below image to identify the difference between centralized and decentralized VPN and why Mysterium's decentralized VPN network has the potential to disrupt the current centralized VPN market.
Market Scenario and Growth Prospects
So guys now the big question is the concept might be cool, the team behind this project is awesome and the technology is top-notch but is the market there for this decentralized VPN tokens. Well, Mysterium team has got an answer for that too.
I think people all across the globe want privacy with what they do online and I firmly believe there is indeed a huge growth potential for this. Even if Mysterium can capture 15%-20% of this Billion dollar market it will prove to be very effective and profitable and I think that's only going to grow in the long run.
Please check out this graph below which is also available on their website that shows the future growth potential of Global VPN market.
Conclusion
Mysterium is basically utilizing blockchain technology so that means all the people who are connected to the network can utilize their VPNs for other individuals and can generate Mysterium tokens and pay each other in Mysterium tokens. It is definitely a massive decentralized VPN which is so cool. It's an ambitious project and one of the coolest projects I have come across so far and given that it is currently undervalued it makes a hot investment option for the people who have long-term investment horizon.
Please, share your opinion and comment below about this amazing new cryptocurrency and its potential.
References and Further Reads: 1
Very interesting proposition and I'm very curious how this would actually work. Is there a whitepaper? Currently VPN's run on layers 3 and 4 of the OSI model where clients need an IP Address and connection to UDP Port 500 (IPSEC) to the VPN Server. With that being said how would users leverage the Ethereum network in order to utilize this VPN and stay secure and anonymous? Would the user have to utilize basic user secured TCPIP connection to get to the Ethereum Network and then the VPN would be run from inside, almost like a Proxy? If so how would it be truly decentralized?
Very interesting stuff I would like to hear more on the technical side of how they will pull this off.
Thanks for your comment. Here is the link to the whitepaper. I hope it answers some of your questions.
I'll be honest here, even I'm not much aware about the technical side of how they are going to operate and implement this on the Ethereum network. If I come across any information related to the technical side I will surely update you.
sounds good! you got a follow from me for the heads up on this. look forward to any future information.
I followed you as well...looking forward to more interesting conversation with you.
nice project!
Indeed
Wow - thanks for opening my eyes to this. Was actually thinking whether something like this was in the pipelines yet, as it seems a logical 'next step' in the whole decentralization sphere. I like ;)
Yeah the concept looks promising....I'm really amazed with the kind of projects that are getting introduced in the market...I'm sure blockchain technology will disrupt the age old systems.
Absolutely - nothing else makes sense. Steem on :)
which blockchain is it operating on ?
Ethereum network
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Nice post.
Please follow me back :)