Nym is the next generation of privacy, designed by some of the world's leading researchers and developers at world-class universities like the Massachusetts Institute of Technology, KU Leuven, and University College London. The system comprises a mixed network that provides privacy at the network level, credentials that provide privacy at the application level, and the NYM token to reward those who manage the system, making it sustainable and scalable in the long term. Together, these will form a decentralized, global privacy network that will be powered by the NYM crypto token. How does Nym provide privacy?
Nym is a "full stack" privacy system, developers can connect their existing applications to the Nym system to protect their users at the network level through Nym mixnet and protect them at the application level through Nym private credentials . Together, these will have the ability to add privacy to the broader blockchain industry: Nym mixnet provides privacy at level 0, which adds metadata protections for other blockchain and cryptocurrency projects that are at level 1 (such as Bitcoin and Ethereum). and at level 2 (including most DeFi projects). What is Nym mixed network?
The Nym mixnet is a decentralized computer network organized in 3 layers. Your communication traffic is sent through it wrapped in multiple layers of encryption using the SPHINX packet format which makes all data passing through the mixed network exactly the same. At each layer of the mixed network, your Internet traffic is mixed with other people's traffic and metadata that uniquely identifies your communications, e.g. your IP address, times and destination are obfuscated. This means that your messages are "lost in the crowd" and not only the content but also the metadata of your messages is protected and your communications are private. There is a saying among the privacy crowd that "Privacy loves company", which is what a mixed network provides; the more data that is mixed together, the more private everyone's data will be. What is the value of the NYM token?
Ultimately, the value of the NYM token will be tied to the global demand and need for privacy, which is only increasing as the internet expands to more and more areas. The number of Internet users worldwide reached 4.5 billion in January 2020. And more and more people, businesses and organizations feel spied on and uncomfortable with how their data is used on the Internet. The only comparable global privacy system is Tor, which works but is limited by being run by volunteers. It means that global reach is difficult: volunteers tend to be centralized in rich Western countries, and systems are unlikely to grow. We believe that economic incentives can solve this problem so that everyone can have privacy on the Internet. With the NYM token, we aim to make global privacy financially sustainable and scalable by rewarding the nodes that run the system. We want to empower people around the world to take an interest in the next generation of privacy infrastructure.