NYM is a next-generation network security infrastructure that helps users protect their privacy and avoid tracking on the internet.
The project builds a multi-layer mixnet, encrypting and forwarding data to conceal metadata, while allowing integration with all applications and blockchains, enhancing security experiences for users and developers.
MAIN CONTENT
NYM protects user data at the network layer through a multi-layer mixnet mechanism.
NYM Token is used for payment, staking delegation, operating nodes, and receiving rewards.
A reputable team of experts and top investors supports the project's development.
What is NYM?
NYM is a security infrastructure platform designed to prevent data leaks from current internet protocols. Users of NYM can browse the internet without fear of being tracked, comprehensively protecting personal information.
The project has developed a mixnet capable of encrypting and mixing traffic through multiple layers to erase metadata traces such as IP addresses, access times, and communication partners, creating a secure decentralized network for all users.
What are the highlights of the NYM project?
NYM leverages a multi-layer mixnet to protect user privacy right at the foundational network layer, going beyond traditional solutions that only focus on applications or blockchains.
The NYM Token reward system for running mixnet nodes is based on service quality and reputation, helping the project continuously expand on a decentralized and transparent platform.
Notably, NYM allows seamless integration with most applications and blockchains today, providing "layer 0 privacy" that no layer 1 platform has achieved.
How is privacy protected at the network layer?
NYM uses a mixnet with intermediate network layers, where mixnode nodes coordinate to mix data packets from multiple users, making network behavior such as IP addresses or access times untraceable.
Thanks to this technology, metadata is not leaked, protecting users from the risk of tracking and surveillance. According to the Vice President of the European Cybersecurity Alliance in 2022, concealing metadata is an essential breakthrough in modern network security.
"NYM's multi-layer mixnet mechanism is a significant advancement in protecting network privacy, creating the first line of defense for user data."
Harry Halpin, CEO NYM, 2023
How is NYM's incentive and decentralization policy implemented?
Users pay with NYM Tokens to transmit data through the mixnet. The mixnode operator commits a certain number of NYM Tokens, receiving rewards based on quality and reputation, similar to how staking delegation operates in the blockchain ecosystem.
This creates an incentive to expand the number and quality of mixnode nodes in the network, helping NYM achieve large-scale and high decentralization, eliminating concerning centralized control.
How does NYM integrate with applications and blockchains?
Unlike layer 1 blockchains like Bitcoin or ZCash, NYM provides privacy at the network layer – allowing any P2P platform or blockchain to build its own applications with comprehensive metadata protection.
This opens up the possibility of developing DApps, utility wallets, or DeFi protocols with metadata protection, enhancing user experience and maximizing privacy rights across the cryptocurrency ecosystem.
Basic information about NYM Token
NYM Token is the official utility token used within the NYM network for payments, staking delegation, and operating the mixnet node, with a total supply of 1 billion Tokens. Parameters such as the issuing blockchain, Token standard, and contract are being fully updated.
Utility of NYM Token
Performing the role of accessing the mixnet, paying for network usage fees.
Staking delegation to enhance reputation and receive rewards for efficiently operating nodes.
Token commitment to operate mixnet nodes and earn rewards based on quality.
Paying transaction fees within the NYM ecosystem.
How is NYM Token allocated?
Development team: 20%
Mix-Mining for mixnode operators: 25%
Reserve and community: 11%
Coinlist Sale: 7.5%
Investors (Backers): 36.5%
What are the key milestones in the NYM project's development roadmap?
Starting in 2018, NYM was incubated at the Binance program. In 2019, it launched a Litepaper along with the first mixnet version in Berlin with thousands of nodes.
From 2020 to 2022, the network was upgraded with the Rust language, deploying the largest testnet with over 8,000 nodes, developing the Nyx mainnet blockchain, and launching the Mixnet smart contract and official Token.
Who is behind the NYM project?
The leadership team includes top experts in the fields of security and cryptocurrency, with CEO Harry Halpin holding a PhD in Artificial Intelligence, previously leading the PANORAMIX project and participating in the development of the Web Crypto API.
CTO Dave Hrycyszyn has contributed to the development of large-scale blockchain systems capable of achieving 500,000 TPS. Chief Scientist Claudia Diaz is a leading security professor at KU Leuven, with extensive research on mixnets and metadata protection.
"With a team of experienced researchers and engineers, NYM is at the forefront of protecting global network privacy."
Claudia Diaz, Chief Scientist NYM, 2023
Who are the investors in the NYM project?
The project has received support from reputable investment funds such as Binance, Digital Currency Group, Polychain Capital, a16z, NGC Ventures, and Huobi Ventures, enhancing reliability and long-term development potential.
Who is on the NYM advisory board?
Professor George Danezis, University College London, co-founder of Chainspace, an expert on mixnet and anonymous credentials.
Professor Aggelos Kiayias, University of Edinburgh and Chief Scientist at IOHK, author of the Ouroboros protocol, previously coordinated the PANORAMIX project.
Frequently asked questions about NYM
How does the NYM mixnet work to protect privacy?
NYM mixes internet traffic through multiple layers of mixnode nodes, concealing important metadata such as IP addresses, effectively preventing user tracking and surveillance.
What role does NYM Token play in the ecosystem?
NYM Token is used for network fees, staking delegation, operating the mixnet node, and receiving rewards based on service quality, incentivizing network expansion.
Can NYM integrate with existing blockchains?
Yes, NYM provides network privacy at layer 0, supporting integration with all blockchains and P2P applications, enhancing metadata security for transactions and DApps.
Who is behind NYM's development?
The core team includes Harry Halpin (CEO), Claudia Diaz (Chief Scientist), and Dave Hrycyszyn (CTO), with extensive experience in AI, security, and blockchain.
Which organizations invest in NYM?
The project has received support from many large funds such as Binance, a16z, Polychain Capital, Digital Currency Group, and Huobi Ventures, ensuring strong resources.
Source: https://tintucbitcoin.com/nym-la-gi/
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