What if you could share your internet connection with friends, family, and strangers, and be rewarded with cryptocurrency while doing so? Sounds crazy right? In fact, such a thing already exists in the form of the Mysterium Network. This blockchain-based peer-to-peer network allows users to sell their unused bandwidth in exchange for the network’s native token (MYST), which can then be used to buy VPN services on the network or exchanged for other cryptocurrencies on an exchange.
Decentralized nature prevents censorship
A key part of why people were so drawn to crypto currency in its early days was a resistance to censorship. With some minor exceptions, centralized systems are vulnerable to being shut down. They also aren’t very resilient—should one central point fail, others will follow. Decentralized networks provide a layer that makes it difficult for anyone to censor information from a certain region, and if one node should be compromised or shutdown, many more can exist in its place. The Mysterium network takes full advantage of these decentralized networks by allowing free access for any users who want it—censorship cannot stop them because there isn’t a central point or server they can go after.
Decentralized nature allows fast upgrades
The decentralized nature of blockchain technology means we can quickly fix bugs or release new features on a per-country basis, rather than waiting for all users to upgrade at once. This will significantly speed up upgrades and feature rollout. The Mysterium Network’s roadmap is transparent, allowing anyone to see what we are working on next, and when these new features will be deployed. So if you have an idea for a feature or would like something changed about our software, you can make your opinion heard.
The platform uses blockchain technology
Blockchain tech, like that employed by bitcoin and ethereum, enables a decentralized peer-to-peer network for transactions to take place. Decentralization means there’s no central authority keeping track of your activities, which is helpful if you don’t want your online activity monitored or logged (e.g., by an ISP). Crypto currency : Money that only exists digitally and uses encryption to secure transactions and control its creation. It's called crypto because it's cryptography that makes it secure. This money is not controlled by banks or governments; instead, it runs on a technology called blockchain . It allows you to send money anywhere in the world instantly without needing permission from any bank or government. With crypto currency , you can pay someone as easily as sending them an email . Some people believe crypto currencies will one day replace all traditional forms of money . The first crypto currency was bitcoin , invented in 2009. Since then many other crypto currencies have been created and are being traded around the world every day.
Blockchain also secures information
Today, most services and information that we use on a daily basis is stored on centralized servers. This means that in order to access your bank account, you need to send your data or a request to your bank’s server. Your bank keeps a record of all these transactions. This also means they are storing your data in their central servers as well. Since they have so much power over you and can read any personal information sent or received, they could abuse their power by stealing and selling your information (information which may be classified as sensitive, like financial details). These servers hold other valuable data such as passwords or private messages between friends.
Most network providers can be anonymous
When you access a website through your internet provider, you are typically routed through their servers. This means that they can log every page that you visit, which can make it seem like an individual is browsing multiple sites simultaneously. However, decentralized VPNs don’t work like that. When you connect to a peer-to-peer VPN via Mysterium’s OpenVPN client, your internet traffic never leaves your computer — instead, it routes straight to another computer on the network (i.e., other users). It doesn’t matter if a hacker tries to identify and track all users; they won’t be able to distinguish between them because there isn’t a centralized server keeping tabs on people visiting web pages.
It does not require mining, which means it is energy efficient
Another cryptocurrency, Bitcoin, uses a Proof-of-Work system that consumes massive amounts of energy. In contrast, there are no costs involved in using our network because it does not require mining; rather, users can access and contribute to our network for free.
Best of all, there are no monthly fees!
What’s great about Mysterium is that there are no monthly fees, and you can be paid in cryptocurrency for offering your unused bandwidth. You only pay gas, which is like a transaction fee on Ethereum. The best part about that, too, is that it’s all automated. As soon as your computer gets online and someone uses it to browse a website (or anything else), gas will automatically be deducted from your account and you’ll be rewarded in MYST tokens (Mysterium’s cryptocurrency). The user will never have to know who you are—no logins or signups or passwords required. It all happens behind-the-scenes! What if someone wants to buy drugs on an illegal marketplace?