Privatix is a decentralized VPN marketplace built on blockchain technology. Find out how it works today in our Privatix review.
What is Privatix?
Privatix, found online at Privatix.io, claims to be the “first internet bandwidth marketplace powered by P2P VPN network on blockchain”, according to the headline on the official site. That’s a bit of an oddly-worded explanation, but basically, Privatix is a VPN marketplace where buyers and sellers can interact in an efficient, transparent way to provide or purchase VPN services.
Privatix’s pre-ICO starts on September 14. The company’s whitepaper first appeared online in August 2017.
How Does Privatix Work?
Privatix is a decentralized and autonomous P2P VPN network built on blockchain technology. The ecosystem is powered by its own cryptocurrency. It’s all built on the Ethereum blockchain.
The goal is to solve problems with a centralized VPN marketplace. Today, many people around the world – internet users in China and Iran, for example – depend on VPNs to freely access the internet or access certain websites. However, these services are still vulnerable to the control of ISPs.
Centralized VPNs also come with problems like log-keeping policies, data selling, overcharging, opaque billing policies, and enormous profit margins.
Ultimately, that means that centralized VPNs don’t protect users’ privacy and data nearly as well as they claim to – despite the fact that these users still pay a high price for VPN services.
Privatix sees blockchain technology as a way to solve these problems. They’re building a decentralized, fully autonomous P2P VPN network on the Ethereum blockchain. That blockchain and the Privatix ecosystem is powered by PRIX tokens.
Privatix users can exchange PRIX tokens to buy and sell VPN services. You can transparently buy or sell bandwidth around the world through the use of an anonymous digital currency. With that in mind, there are two types of people who would use the Privatix platform:
- Users who want to sell their internet bandwidth (agents)
- Users who want to buy internet bandwidth from agents (clients)
How to Make Money from your Internet Connection with Privatix
Privatix works much as you would expect a VPN marketplace to work. Here’s the basic use case as outlined in the Privatix app:
- An internet user from Germany has a 100 Mbps internet connection and he does not completely use that bandwidth, especially at night
- That user is already paying his ISP for his internet connection, so there’s no extra cost for the user
- The user installs the Privatix Network software and becomes an agent
- On the other side of the world is an internet user from China who doesn’t have access to the full internet because of China’s strict internet censorship
- That user installs a VPN program based on the Privatix network, then uses it to purchase broadband from the German user; the Chinese user can now surf the internet through the encrypted German VPN and get access to all of the internet sites a German user would have
In another use case, someone might have a series of dedicated server farms. That person might have paid for the servers, but the existing bandwidth is significantly underused. The agent installs the Privatix software, then begins earning profits by hosting online content from clients around the world.
Further details about the technical specifications behind the Privatix platform, including everything you need to know about nodes, gateways, and the encryption technology, can be found at the whitepaper here.
The PRIX Token Sale
PRIX is an ERC20 token built on the Ethereum blockchain. There will be a fixed total supply of 10 million PRIX available. The entire supply is pre-mined.
Token holders will be able to use tokens to buy and sell internet broadband between Privatix platform participants. All transactions will be subject to a commission fee of up to 1% the transaction price in PRIX. There are no fees for any other transactions and exchanges except payments for bandwidth.
A total of 8.3 million PRIX tokens will be sold to the public. 8 million tokens will be sold during the ICO, and 300,000 will be allocated to a pre-ICO crowdsale.
The price of a PRIX token will be fixed at 1 ETH = 100 PRIX. You’ll need to contribute a minimum of 0.63 ETH. There’s no maximum amount.
Who’s Behind Privatix?
Privatix is an established, profitable company. The whitepaper claims that the founding team consists of a group of “experienced IT entrepreneurs and talented developers who are passionate about the freedom of the internet, online security, and the rights of individuals and businesses to privacy protection.”
Prior to launching their P2P VPN marketplace, the developers created Temp-Mail.org, an email spam filtration service with more than 250,000 daily visitors.
Founders include Dima Rusakov (CEO and Co-Founder), a serial entrepreneur from Israel who has developed businesses in his home country as well as Russia, Ukraine, and Kazakhstan.
Other key members of the team include Nikita Kuznetsov (CTO and Co-Founder), a software architect and senior full stack developer, as well as Rubtsov Dmitriy (Co-Founder, Chief of Operations and Business Development), an IT entrepreneur and business developer.
Rusakov also co-founded 5vpn, a premium VPN service with 15,000 paying users, and has run Privatix for 2 years.
Privatix is a VPN marketplace built on blockchain technology. The marketplace seeks to make it easier for people around the world to sell their unused bandwidth, or for someone to purchase an encrypted VPN from an open marketplace. Overall, Privatix seeks to solve the problems associated with centralized VPN marketplaces like the ones we see online today.
To learn more about Privatix and the company’s upcoming token sale, visit them online today at Privatix.io.