Nym Technologies invites all users to run Mix-Nodes in their Mix Network in a joint effort to solve the privacy crisis in the world.
This crisis has indeed been discussed lately, given the increasing use of the internet in everyday life throughout the world. Also, the use of Blockchain and Cryptography technology with concepts that enable users to maintain personal privacy even though they are on an active internet network.
Nym Technologies itself is one of the first companies from Binance Labs Indicator. Binance Labs is one of the business branches of Binance in its efforts to collaborate with developers, communities or projects related to Blockchain and Cryptocurrency.
This Swiss start-up company created mixnets as an effort to create privacy protection. These mixnets are predicted to become the infrastructure of the future built by applying the concept.
Mixnet is generally a routing or routing protocol that creates communication that is difficult to track using a proxy server chain that combines messages from several senders, processes them, and sends them back randomly to their next destination (other mix-nodes).
Mixnet features provided by Nym Technologies include protection of users, developers and companies against mass surveillance. Unlike VPN and Tor, this facility can also help users maintain their personal confidentiality from opponents or supervisors who have the power to oversee the entire network with the same level of power as the National Security Agency.
Harry Halpin, Co-Founder and CEO of Nym Technologies believes that:
“With Nym, you’ll communicate freely without fear of the online network you use revealing your personal metadata.”Harry Halpin
In addition, Dave Hrycyszyn, Co-Founder & CTO of Nym Technologies who previously worked at Libra said:
“Privacy is one among the foremost important rights in our opinion. now’s the foremost crucial time to adopt technology which will help us protect it. there’s no network that basically protects you against large-scale internet network traffic analysis.”Dave Hrycyszyn
In using Bitcoin, miners or miners are rewarded for running the Proof-of-Work algorithm or protocol that prevents cyber attacks. Similar to the concept, Mixnet issued by Nym Technologies will give rewards to mixers by running mixing packets or meeting many network packets, so that internet connections between fellow users become private.
Teck Chia from Binance said:
“Free and open internet requires privacy as a key feature. Nym, which was created by a team of experts within the field of private confidentiality, is that the best thanks to achieve it. We are proud to support what they are doing .”Teck Chia
In addition, Gavin Wood, co-founder of Ethereum who now works at the Polkadot Web 3.0 Foundation, stressed
“It is time for us to start out making a path towards future alternatives. Mixnets that pioneered and decentralized (this alternative) are a crucial a part of this puzzle.”Gavin Wood
The testing network or testnet launched by Nym will be carried out in three phases throughout 2020. The first phase that has been launched to the public is the mixnet system. Then it will be followed by the second phase. This second phase will decentralize the mixnet through a validator. Then in the final phase there will be integration of rewards in conducting this network meeting.
Since it was launched last December 2019, this test has been carried out by a group of users who were specifically invited, including those from Blockstream and the Web 3.0 Foundation. This mixnet from Nym is common and works on all blockchain platforms and other applications.