Yes, we should also mention that it’s still in early stage and experimental to some degree. I am just trying the Android app and it doesn’t appear to work as intended. First I could see my real IP, and after I shut it down it crashes on start.
It encrypts and routes your entire internet traffic (email, messenger, …) through a multi-layered network which they call “mixnet”. That makes your communications private and hides your metadata (your IP address, who you talk to, when and where, etc.).
I have been observing Nym since its inception, I personally feel they are doing a good work and they have very good intentions. They need -unsurprisingly- more time.
As for the cryptocurrency, I personally feel it’s a good way for developers to monetize and organize payment structures in a decentralized way. The best intentions to establish a decentralized system are worth nothing in the end if you depend on a centralized payment processor such as a bank or big tech. Unfortunately they haven’t yet released a paper to dig a bit deeper, but I am very much looking forward to it.
Crypto is a great way to organize payment but the system they’re using here is massively inflationary seeing as it is a reward token.
So really, it’s a very poor way to organize payments because the nodes are constantly devaluing whatever amount of their currency you purchased or were rewarded.
I’m not an economic major or anything so this is just opinion but it doesn’t make sense to me.
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For context -
“Nym provides strong network-level privacy against sophisticated end-to-end attackers, and anonymous transactions using blinded, re-randomizable, decentralized credentials.”
Yes, we should also mention that it’s still in early stage and experimental to some degree. I am just trying the Android app and it doesn’t appear to work as intended. First I could see my real IP, and after I shut it down it crashes on start.
All good things take time …
What is it? Any context about why I should care that you might be willing to include?
It encrypts and routes your entire internet traffic (email, messenger, …) through a multi-layered network which they call “mixnet”. That makes your communications private and hides your metadata (your IP address, who you talk to, when and where, etc.).
See more at https://nymtech.net
So it’s Tor but worse.
I can’t help but being sceptical that this is based on a cryptocurrency. There are some good ideas in nym, but I’ll stick with Tor for now.
Same, last thing I’d want is something tracking when I’m running a node. Seems like a waste of time when they had good ideas without the crypto.
I have been observing Nym since its inception, I personally feel they are doing a good work and they have very good intentions. They need -unsurprisingly- more time.
As for the cryptocurrency, I personally feel it’s a good way for developers to monetize and organize payment structures in a decentralized way. The best intentions to establish a decentralized system are worth nothing in the end if you depend on a centralized payment processor such as a bank or big tech. Unfortunately they haven’t yet released a paper to dig a bit deeper, but I am very much looking forward to it.
Crypto is a great way to organize payment but the system they’re using here is massively inflationary seeing as it is a reward token.
So really, it’s a very poor way to organize payments because the nodes are constantly devaluing whatever amount of their currency you purchased or were rewarded.
I’m not an economic major or anything so this is just opinion but it doesn’t make sense to me.