What Is Mysterium Token (MYST)?

The Mysterium platform is an open-source ecosystem that comprises tools, protocols, and infrastructure to liberate the internet. As mentioned in the whitepaper, the Mysterium platform aims to provide citizens in the world unrestricted access to applications and content. Mysterium is also a permission-less, peer-to-peer network that does not rely on a central authority.

Today, internet users are restricted from using applications and services due to censorship implemented by different agenda groups across the world. Also, internet and content service providers cannot examine, track, and profile the users through the internet. Users' regular internet activity and communications are merged and traded to advertisers without their consent. Due to intellectual property restrictions, some users of certain areas are denied access to content by their content providers. Moreover, there is a lack of funds for research, execution, and maintenance of tools for restoring the confidentiality of internet users. Thus, these problems created the need for the Mysterium platform that aims to build a trustless, distributed, and sustainable network that can offer open access and confidentiality to every internet user. The platform seeks to connect projects, entrepreneurs, and developers, all working on the borderless web.

In addition, the platform aims to offer users to earn cryptocurrency by trading their additional bandwidth whenever they find it suitable. There is no technical skill required for users to run a node, a computer that connects to the crypto network. Users can also connect to their homes from any place they want. Every transaction of payment contracts is preserved in a public ledger formed on the Ethereumblockchain, which makes it accessible for users to read. 

The token issued at the time of Mysterium’s creation is known as the Mysterium token, with the symbol MYST. 

MYST token is censorship resistant and seeks to support various apps and functions, securing the network from any attacks. The token holders benefit by getting a commission for every transaction on the platform, with payments being carried out in currencies apart from MYST. MYST also supports the staking mechanism in the network and enables users to pay for VPN (virtual private network) services - a private network from a public internet connection, giving users online privacy and anonymity. Users can also use MYST to pay others all over the world when they link to their IP address, rather than paying a monthly VPN subscription to unblock apps and websites.

History of Mysterium Token (MYST)

RobertasVis and Waldz are the founders of the platform. In 2017, the idea of a decentralized VPN was born with the launch of headquarters in Switzerland. The token creation of Mysterium also took place in 2017. Later in 2021, the platform began its evolution into an ecosystem with a new aim.