The data that users generate holds immense worth. Sophisticated analytical systems have the potential to decipher the nuances of individuals’ social connections and can remarkably foretell characteristics and personal preferences. NYM wants to make data work for users and keep people safe from unauthorized practices of data collection.
Personal information has become a significant revenue generator for numerous organizations. Many people fail to realize the amount of information they unintentionally share every time they browse the web.
Yet, not everyone is willing to let their data be used for profit. In today's digital age, online activities might inadvertently lead to negative consequences, infringing upon user data privacy.
What is NYM?
In 2018, among privacy-driven technology experts, was born NYM Tech—a formidable defense against unauthorized third-party monitoring of users' personal data.
NYM aspires to achieve complete privacy, allowing applications, services, or blockchains to shield their network access from the most advanced surveillance devices, effectively pooling resources rather than seeking new permissions while maintaining financial and operational feasibility.
The mission and vision of NYM Tech revolve around harnessing blockchain technology to forge an avant-garde Internet infrastructure—one that fiercely guards user privacy and data rights.
How NYM Works
For any decentralized framework, collecting real-world resources to sustain network nodes stands as a tall hurdle.
NYM adopts a unique reward system to maintain decentralized and superior network services. Inspired by Bitcoin's model, NYM’s innovative proof-of-stake system compensates nodes that blend traffic without unnecessary complexities.
Instead of following a proof-of-work concept, NYM node operators earn blended proofs, guaranteeing widespread privacy.
The NYM network isn't an isolated service; instead, it's an infrastructure supporting a multitude of third-party applications and services dedicated to upholding privacy.
Developers can leverage the NYM network to communicate covertly with users, granting access to paid services through the NYM credentials.
NYM's products are at the disposal of users within the ecosystem, catering to anyone seeking anonymity while using the internet—be it for communication, transactional exchanges, receiving information, or storing messages discretely with friends or investors.
By connecting to the web, NYM crafts a network that offers an open-source anonymous overlay, eclipsing existing solutions with its savvy network aggregation.
Moreover, NYM deploys blockchain technology to govern mixnet operations, ensuring the absence of any single point of failure.
This platform enables decentralized identities and privacy-focused data transfers, utilizing anonymous credentials supported by Coconut’s signature framework.
NYM Products
NYM Mixnet
NYM's mixnet stands as a trailblazing component of the system. This decentralized framework is dissected into three layers. Picture this: You’re online and wish to send a message to a friend using the mixnet.
Your message (communication traffic) becomes protected by multiple encryption layers. The SPHINX packet architecture ensures your data is indistinguishable from others’—every fragment through the mixnet is a spitting image of its predecessor.
Your online traffic blends in with others', forming a dense maze of data traffic that effectively conceals your personal metadata like IP address, time, and destination from prying eyes.
This results in your messages getting ‘lost in the crowd,’ securing your metadata as securely as the content itself. In a mixnet’s context, the saying ‘Privacy loves company’ aptly resonates, symbolizing how group dynamics fortify privacy.
The larger the network grows, the more amplified its anonymity and efficiency become.
The network explorer reveals easily accessible data such as:
- A plethora of mixnodes, gateways, and validators currently engaged in the test network.
- Comprehensive information regarding mixnodes' profiles and performance.
- Geographical location
NYM Token
The NYM token is at the heart of energizing the NYM network infrastructure.
The way it works is as follows:
- Individuals or entities can acquire NYM tokens.
- Post-acquisition, these tokens cover 'bandwidth credentials,' thereby facilitating users' engagement with the NYM mixnet at its base level.
- Additionally, 'service credentials' obtained through tokens open doors to privacy-oriented services at levels one and two.
- Bandwidth credentials appear at the mixnet gateways, unlocking access to the mixnet.
- For contributions towards traffic mixing and creating privacy within the NYM network, gateways, mixnodes, and validators earn NYM tokens in return.
Currently in its testnet phase, the test tokens are PUNKs. NYMs will transition into the mainnet token, anticipated for release later this year.
NYM Infrastructure
NYM comprises three principal node groupings crucial to enhancing its security and privacy stature.
Mix Nodes: These nodes bolster end-user privacy by propelling data packets anonymously through the network before reaching their ultimate destinations. They modify and encrypt these packets in their journey through the mixnet, complicating attempts to trace where data originates or what it holds.
Gateways: They facilitate access to NYM’s mixnet, securing data from potential misuse for personal gain. Users can either choose a constant gateway or opt for different pathways, including another unique gateway each day. Additionally, gateways provide secure communication by temporarily storing messages for offline recipients.
Validators: Serving a pivotal role, validators ensure the NYM blockchain's secure operation as a reliable broadcast medium for distributing information like node statuses, public keys, and comprehensive network parameters, including periodic random tokens.
Becoming a validator on the NYM network is viable for any individual or organization with the capacity and a desire to maintain service quality undiminished. Participation demands NYM token stakes, but ultimate rewards reflect the quality of applied efforts.
NYM enumerates tokenized rewards, incentivizing validators, gateways, and mix nodes to maintain exemplary service quality, professionalism, and performance—crucial for running applications effectively on the NYM blockchain.
Such incentivization assures the nodes' long-lasting operation and unity, reflecting the common interests of all engaged participants.
Meet The Team
With a team integrating blockchain and traditional market experts, the project members include:
Harry Halpin – At the helm as CEO, Harry, former University of Oxford researcher, and WWW organization’s federation president at Edinburgh University, dedicated his abilities to NYM Technologies within the Binance Labs incubation since November 2018.
Dave Hrycyszyn – Dave, co-founder and technology director at NYM, contributed to the Scalatra open-source network and went on to author a book on the topic.
Dave further helped establish NetFlix and the BBC’s Connected Data endeavor. He also co-founded and advised the significant Vega Protocol—backed by leading investors like Pantera Capital and Spring.
Ania Piotrowska – Co-founder and Head of Research at NYM, Ania is specialized in technological research, with experience in internet security, decentralized systems, and enhancing communication anonymity.
Her Ph.D. from the University of London underpins an in-depth background from roles at DeepMind and Chainalysis.
Keep Watching NYM
NYM’s appealing platform is well-crafted for those keen on enhancing their online safety, persistently developing valuable privacy tools.
You can keep with NYM via its Twitter , Telegram and Medium accounts. Visit the platform’s official site to learn more. please click right here !
