Zug, Switzerland, Jan. 29, 2021 (GLOBE NEWSWIRE) -- Major cryptocurrency exchange Bittrex Global has listed MYST token by Mysterium Network, the Swiss-based Web 3.0 company challenging the $30 billion VPN industry with its next-generation internet technology. The project’s flagship product, Mysterium VPN (dVPN) built on Ethereum, already has more than 100,000 downloads while still in BETA. Trading of the MYST-BTC and MYST-USDT pairs opens at 10am PST on 28th January.
The VPN market is estimated to reach more than $88 billion by 2027. With increasing censorship and surveillance online, over a quarter of the world’s internet users depend on a VPN for daily internet access. Yet the current market is an oligopoly, led by a handful of private companies who have failed to innovate. Running on centralized servers, they can store logs of all their users’ browsing activity. This represents a dangerous risk to its users, as these servers can be hacked and personal data exposed, as demonstrated through NordVPN’s breach in 2019.
“Each month we see more cases of internet shutdowns and hacks of our private data. A regular VPN is just a band-aid fix for what is a deeply flawed infrastructural problem. We know the VPN industry is broken and ripe for the taking, so we’re rewiring the internet from the inside out, creating a new, more secure layer of the internet that cannot be switched off. And the MYST token ties it all together,” says Jaro Šatkevič, head of Product at Mysterium.
Since 2017, the Mysterium team has been growing an incentivised, global peer-to-peer node network to power encrypted and censorship-resistant applications, like the Mysterium dVPN. Thanks to its decentralised architecture, it’s technologically impossible to log users’ browsing activity or data. The open-source nature of the network also means projects such as Portals can connect their users to Mysterium’s global node network, allowing them to pay via credit card.
MYST is the network's reserve currency. Instead of paying a regular VPN service to unblock websites and apps, users pay peers (nodes) within the distributed network to connect to their residential IP address. Users can pay with MYST and other major cryptocurrencies, such as Bitcoin (BTC), while nodes easily earn MYST by the minute or hour.
“The MYST token does more than transfer value in the network. It acts like digital fuel, powering Mysterium’s various functions and applications, while keeping the network safe from things like DDoS attacks. Like most other cryptocurrencies, MYST has helped forge new online communities, where global networks like ours can easily share internet resources with each other, such as storage, computing power and now privacy,” says Sharmini Ravindran, Head of Marketing of Mysterium Network.
Mysterium has also designed its own unique P2P payments infrastructure, the Hermes protocol, to facilitate the network’s fast, anonymous and censorship-resistant micropayments on a global scale.
Bittrex Global will host a trading competition for their users, giving away $15,000 in MYST tokens, starting February 1st.
More information about the MYST token can be found at mysterium.network/token
Discover the dVPN and get early access now before the full launch.
About Mysterium Network
An open source, Swiss-based company founded in 2017, Mysterium is rewiring the internet so it’s secure, free and accessible for all. Mysterium held a successful token sale in 2017 through which it raised $18 million USD. Mysterium’s decentralised VPN is currently available for Android, Mac and Windows. Mysterium dVPN plugs into a global network of residential nodes, one of the fastest growing online communities decentralising the web. This open marketplace allows anyone to rent their unused bandwidth and IP address with those in need, protecting others against censorship, surveillance and cybercrime.
About Bittrex Global
Bittrex Global is an internationally trusted global cryptocurrency exchange owned by US-based digital trading platform Bittrex. Bittrex is known for its stringent listing process, evaluating projects on their commitment to their mission statement, innovation, underlying technology, business model, and regulatory compliance.
The combination of a strict listing process, fast transactions, military grade security, and regulatory compliance have earned Bittrex Global recognition as one of the world’s most trustworthy crypto exchanges.
Company: Mysterium Network