Nym Technologies Ushers in a New Era for Digital Security with the NymVPN
Built on a decentralized network, NymVPN leverages blockchain technology and a mixed network to offer a comprehensive, unified security solution
Neuchâtel, Switzerland, 02 November 2023: Nym Technologies, the Binance Labs and a16z backed privacy infrastructure project, is announcing the upcoming launch and more information for its highly anticipated NymVPN in Q1 2024. This brings together a decentralized VPN and a mixnet on the same network to offer users the highest level of privacy and security for all their online activities.
Unlike centralized VPNs, which funnel all your data through a single server, the NymVPN disperses your traffic across a network of nodes. This architectural shift significantly boosts online privacy by making it much more challenging for anyone to eavesdrop on user activities. NymVPN functions on top of a decentralized network of relay nodes which individuals run, eliminating any central authority, thus lowering the risk of data misuse and surveillance. In a world where many individuals grapple with censorship, especially in regions with heavy internet restrictions, NymVPN emerges as a powerful solution that builds on top of the infrastructure created by the Nym mixnet. It excels at evading detection and blocking, offering an effective means of bypassing online restrictions.
According to IBM’s 2021 Cost of a Data Breach Report, 44% of data leaks expose personal information, like email, address, and full names. The first half of 2022 saw over 80 million data leaks, affecting more than 53 million users in the US alone. And that’s just 6 months. NymVPN serves as a digital cloak, fortifying the security of users’ personal and sensitive information. It shields them from the mounting threats of eavesdropping, data breaches, surveillance, and identity theft. Simultaneously, it grants access to the vast wealth of information that the internet has to offer.
We believe that privacy is a fundamental right, and our vision has always been to empower individuals to take full control over their online security,Harry Halpin, CEO & Co-founder of Nym Technologies
The NymVPN offers just this. It offers users a tool to take control over their privacy for once, through offering the user both a decentralized VPN and mix-network technologies, to provide an unparalleled level of privacy and security on the internet. Our goal is to empower individuals around the world, ensuring they have unfettered access to the information and resources they seek, and we have discovered many users can’t use our mixnet due to censorship, so we are releasing a new NymVPN product soon. As the digital landscape evolves, NymVPN will evolve with it, actively developing and implementing innovative methods to circumvent censorship and mass surveillance.
When a user purchases access to the NymVPN, they may do so using a payment method of their choice, including fiat and Bitcoin. NymVPN relies on zk-nyms technology to offer users both secure access to the Nym network and a means for safe private payments regardless of the currency to the network’s relay nodes. These cryptographic credentials embed proof of payment, ensuring user privacy during payments. In particular, they prevent any leaks about user identity to the nodes they utilize. Once the payment is completed, the majority of the payments from a user, even if they used fiat, is used to purchase NYM tokens to reward the nodes.
What further sets NymVPN apart is its ability to automatically adapt its privacy features to each unique use case, offering users a choice between a state-of-the-art mixnet and decentralized WireGuard VPN technologies. It will include a built-in kill switch for added security and split tunneling capabilities to optimize a user’s online experience. Moreover, granular user control lets individuals define the optimal settings for their specific usage, ensuring that all privacy preferences are met on one comprehensive application.
With NymVPN, users gain entry to the expansive Nym network, which boasts more than 600 nodes meticulously overseen by node operators hailing from over 60 countries. This distinctive approach guarantees that no individual entity can jeopardize an individual user’s privacy. The Nym network’s resilience hinges on the dedication of its node operators, who receive consistent rewards in the form of NYM tokens. Furthermore, NymVPN introduces an innovative delegation mechanism, enabling NYM token holders to stake their tokens exclusively with node operators they trust. This dynamic system for delegation establishes a democratic shield against potential Sybil attacks, reinforcing the network’s security.
In conjunction with this launch Nym will also be releasing the VPN lightpaper. This document serves as an informative guide, shedding light on the intricate workings of this advanced privacy solution. To learn more about NymVPN, please visit: nymtech.net
Nym is an open-source, incentivised, and decentralised privacy system that protects communications patterns of any application, wallet or digital service. Nym protects against traffic pattern analysis and metadata surveillance. Investors include Binance Labs, Polychain Capital, a16z, Eden Block and the European Commission.
Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
L'équipe éditoriale de Cointribune unit ses voix pour s’exprimer sur des thématiques propres aux cryptomonnaies, à l'investissement, au métaverse et aux NFT, tout en s’efforçant de répondre au mieux à vos interrogations.
The contents and products mentioned on this page are in no way endorsed by Cointribune and should not be construed as its responsibility.
Cointribune strives to provide readers with all relevant information available, but cannot guarantee its accuracy or completeness. Readers are urged to make their own inquiries before taking any action with respect to the company, and to assume full responsibility for their decisions. This article does not constitute investment advice or an offer or invitation to purchase any products or services.
Investing in digital financial assets involves risks.Read more