Mysterium Network is a decentralized VPN powered by blockchain. Find out everything you need to know about Mysterium Network today in our review.
What is Mysterium Network?
Mysterium Network is a decentralized VPN preparing to launch its ICO. That ICO is scheduled to take place between May 30 and June 29, 2017. The goal of Mysterium Network is to provide decentralized, safe access to the internet using a VPN powered by blockchain technology.
How does Mysterium Network plan to provide a VPN? Like other blockchain-based platforms, Mysterium Network wants to democratize the world of VPNs. Think of it as like AirBnB for your unused network traffic: you can get paid for renting your underused network capacity to users around the world.
The company was founded by Robertas Visinskis. Mysterium Network has partnered with Bitcoin Suisse AG, MME, and TokenMarket so far.
How Does Mysterium Network Work?
Mysterium Network uses the Ethereum blockchain. Users can sell unused network capacity onto the network to users who need an anonymous VPN service.
As the official Mysterium Network website explains it, the platform is an “open sourced network allowing anyone to rent their unused network traffic, while providing a secure connection for those in need”.
Think of Mysterium Network like a marketplace. The marketplace is the open source software that allows anyone to join the network both as a provider – who sells unused network traffic – or as a customer – who buys VPN service from other Mysterium Network providers.
The platform is based on a complex architecture revolving around P2P, blockchain, Smart Contracts, State Channels, and other cryptocurrency-style technologies. You can read the Mysterium Network whitepaper for a more detailed explanation of how the company’s protocol works.
Benefits of Decentralized Over Centralized VPNs
Mysterium Network makes a big deal out of the fact that it’s a decentralized VPN instead of a centralized VPN. Why is that important? Here are some of the reasons emphasized by the company:
• Centralized VPNs
• Focus on shareholder benefits
• Private data is held in one location by one party
• It’s easy for third parties to access your data
• High profit margins
• Decentralized VPNs
• Focus on network participant benefits
• Your private data is decentralized
• Obstructed access of your data for third parties
• Perfect competition sets fair price according to market demand
Ultimately, Mysterium Network describes their decentralized network as “infinitely scalable” and “without single point of failure” because there’s no central company or server.
Additionally, the source code for Mysterium Network is always visible, and the company emphasizes 100% transparency.
In terms of security, Mysterium Network uses encryption, node reputation, layered protection protocols, and more to help you safely and privately participate in the network.
Today, the global VPN market is estimated at around $45 billion in value, according to the Mysterium Network official website. By 2022, market value could hit $102 billion.
Who’s Behind Mysterium Network?
Mysterium Network is led by founder Robertas Visinskis, who has years of experience in IT “with projects ranging from startups to governmental projects”. Other key members of the team include Paulius Mozuras (Co-Founder and Smart Contract / Python Developer), Valdas Petrulis (Co-Founder and Lead Golang Developer), and Ricardas Pocius (Main Architect of the Protocol).
Ultimately, Mysterium Network is an ambitious project currently gearing up for its ICO. The project aims to create a decentralized VPN service fueled by an international group of users. Security is provided over the blockchain, and prices are defined by node operators to create perfect competition. The ultimate goal is to offer VPN services at a fraction of the price as conventional VPN providers.
You can learn more about Mysterium Network today by visiting the company online at Mysterium.network.