Category

global news

MYST, migration and mainnet – what you need to know

We are fast approaching the official launch of Mysterium Network. This will be the realisation of our founding whitepaper and the crowning of our world-first peer to peer VPN. 

In preparation, the network will undergo some big technical updates and transitions. This includes an upgrade of our native token MYST, which is a core component of Mysterium and which keeps the network sustainable, secure and permissionless.

Read our blog about our unofficial launch timeline and breakdown of how we’re taking Mysterium global. 

What is MYST?

MYST is a utility token (a type of cryptocurrency) at the heart of Mysterium Network. It acts like digital fuel, serving various functions and keeps the network humming along.

Transfer of value – MYST is used as the network’s native currency. If you’re using the VPN (consumer) you will pay using MYST. If you’re a node (provider of the VPN service) you will receive MYST. While additional tokens could be introduced in the future, this is the network’s reserve currency and standard for the time being. 

Identity registration – when you first sign up for the network, you will need a little MYST so you can receive and verify your unique identity. The registration is processed as a transaction, so it’s permanently “on-chain”. Once you receive your unique ID/address, you can start to receive and send payments. By committing a little financially, this proves you have skin in the game. It’s also designed to prevent lots of people signing up for free and creating spam accounts, which will help protect the network against DDoS attacks. 

Staking – nodes (providers) should stake MYST (lock it up as collateral) to prove they are even more committed to the network’s longevity and success (even more skin in the game). Staking is particularly necessary due to how our P2P payment infrastructure works (more on this in below sections). While nodes can start providing their service even with 0 tokens at stake, a stake of at least 12 MYST must eventually be committed. If the user doesn’t stake anything at first, the stake will be accumulated and collected automatically by the network over time as they provide ongoing value and continue to earn. The network will take 10% from each settled payment until the full 12 MYST is received.

Why use cryptocurrency?

Mysterium Network is a decentralised system, meaning its users can be located anywhere around the globe. These systems are also designed so that all users can be anonymous. As a censorship-resistant and anonymous virtual currency, cryptocurrency provides a way for all these participants to interact and trade with one another without trust and without third parties being involved (permissionless). 

While we could have used other (or even more popular) cryptocurrencies for payments within Mysterium, we needed an in-built protection mechanism for the network’s many different actors. MYST is not just used for payments – as a token unique to our system, it’s a representation of your active involvement and intention to participate within Mysterium Network. In this way, MYST enables more than just P2P payments. When network actors have skin in the game, they help increase the overall security of the network, protecting against various types of attacks. It also establishes a community around a purpose, so the network can grow and evolve with its token holders. 

This also gives us the flexibility to use MYST over several blockchains in the future (e.g. similar to Tether).

Hermes protocol, our P2P payments infrastructure

Mysterium Network is a peer-to-peer VPN service, made up of consumers and providers. For us to remain a permissionless network, we need to ensure that all payments must also be peer to peer. This will be facilitated by the Hermes Protocol, our unique infrastructure we designed to enable fast, frequent micropayments on a global scale. 

In brief, it creates payment channels (a special type of smart contracts) between network participants (consumers and providers) and a selected Hermes hub during their registration. Hermes will verify “payment promises” made by consumers to nodes and smart contracts will ensure that tokens are calculated correctly and are safe. Instead of users constantly paying nodes in high volumes (by doing expensive blockchain transactions), consumers can make “promises” to providers, similar to IOUs. When providers (node runners) decide they want to settle (get a payout) their income, the final tallied record is executed on the blockchain and sent as a single transaction. 

Related: Learn more about how micropayments works in Mysterium Network

Additionally, providers (node runners) must stake a certain amount of collateral. While you can stake nothing at the start, as described above, you can stake any amount of MYST to guarantee the size of your payment channel. This will be the amount of tokens you can earn before settling your earned token and confirming this final tally on the blockchain. It will also guarantee faster withdrawal of these payments sent to your personal wallet. 

EXAMPLE: I run a node and want to provide the VPN service. I stake 20 MYST to open up a payment channel with the network’s smart contract. This ensures that consumers in the network can start using my service, and I will keep earning MYST until I reach my staked amount of 20. When I’ve reached my maximum, I have to settle them into my ethereum wallet (ethereum will charge a transaction fee). After that, I can keep earning MYST again until I reach my channel limit and will have to settle again. If I will decide to stop providing services on Mysterium Network, I can get my initial 20 MYST stake back.

Here’s how it works in action:

  1. Use MYST to pay for your identity registration 
  2. If you’d like to use the VPN service, top up your account balance with MYST 

If you’d like to provide the VPN service, stake a certain amount of MYST tokens

  1. Consumers pay providers using “Payment Promises” (off-chain transactions)
  2. Providers can choose to cash-out these promises at any time

Staking is necessary for the function of payment channels. There needs to be an amount of tokens locked in a provider’s payment channel to keep it active and ensure that the smart contract can pay the amount corresponding to their Payment Promises. If your Payment Promise tally is higher than your tokens at stake, for example, then this could lead to a situation where there are not enough funds to pay you out. This protects users against the threat of double-spending. Similar locking tokens mechanisms are also implemented among other payment channel-based networks, such as Lightning Network, Lumino and Raiden. 

In the future, the staking component could change. Staking more MYST, and therefore having more skin in the game, opens up a few possibilities for loyal network participants. It could enable higher traffic (higher position in ranking = more users  = more income)   for providers, or even allocate a percentage cut of network transaction fees. 

What is token migration?

Migrating a token is simply to upgrade the smart contract of that token (its “standard”). In the case of Mysterium, we are migrating from the ERC-20 to the ERC-777 token standard. This is a 1:1 token migration so there will be no new tokens created. 

Why are we upgrading MYST?

Different smart contract token standards offer different functionalities. The ERC-20 standard is the oldest and most common standard, initially developed in 2015. However, this token standard has not aged well. For some time now, its limitations have been exposed as more complex smart contracts have emerged which offer more functionalities, and are therefore better suited for more use-cases.  The ERC-777 token standard was approved last year following collaborative, community-driven discussions that began in 2017. 

ERC777 is an extension of the ERC20 standard. This new standard brings greater benefits to Mysterium Network as it plays host to some important features and multiple quality of life improvements. It adds token receive hooks which are used in our payment system, enabling the auto-conversion of MYST to other tokens during settlement. This opens us up to all kinds of crypto communities, even alternative blockchains such as Bitcoin. It also reduces the number of transactions required for the registration of a Mysterium ID, therefore reducing the cost of fees.

As we create more liquidity for the MYST token through its listing on various exchanges, we also require a full audit of the token. With an ERC777 MYST token, we will perform an audit with aims to also reinforce trust in its security.

How will token migration work?

At the end of July, MYST token holders will be able to start migrating their tokens into the new token standard. This will become the standard MYST token used within Mysterium Network’s payment system.

All exchanges are informed and are preparing for the upgrade on their end. If you are holding MYST on exchanges such as HitBTC, the migration will be done automatically and you will not need to do anything. While the token migration is planned for the end of July, it may take some days for exchanges to complete the upgrade, so please keep this in mind. Trading inside exchanges is unaffected by this migration.

For those who have the technical capacity and knowledge to conduct the migration themselves, our developer tooling will be available. Taking a DIY approach, users will be able to use our custom tooling to migrate their own tokens. We will publish written and video tutorials on our website in advance, so check back for updates. 

While there will be no time limit for migrating tokens, please be aware that only the new token standard will be used in the Mysterium Network payment system and actively traded on exchanges. 

However, you will not lose your original MYST tokens if you do not migrate within a specific deadline. This means you can perform your token migration at a convenient time to you.

Your wallets which are supporting only ERC20 tokens will work fine with MYST token.

Our token will support both ERC20 and ERC777 interfaces. This means that any wallet which supports ERC20 can be used to hold MYST token.

We’ll be publishing more important details in the weeks ahead. In the meantime, join our Discord channel and download the app for Android, Windows or Mac to get a taste of the free version before we move to the pay as you go model.

The coronavirus cover-up: A closer look at internet censorship in China

I am writing this in transit between Helsinki and Vilnius. I’ve got a mask on, and it’s uncomfortable. But I shouldn’t complain – the mask itself was a godsend – given the nationwide shortage of masks, hand sanitiser and antibacterial wipes in Singapore. 

Corona virus vpn

My flight taking me from Singapore to Helsinki may as well have been a private jet for the number of people on board. One of the perks when travelling while the world is gearing up for a pandemic.

The coronavirus is quickly spreading through Asia, and onward into the US and Europe. 

do I need a VPN

What does this have to do with freedom of speech? And how does this answer the question “Do I need a VPN?”

Just about everything. 

Dr Li Wenling - the coronavirus whistleblower - is now dead.

I landed in Helsinki to the news of Dr Li Wenliang’s death. 

Dr Li was one of the first people who tried to issue the first warning about the coronavirus outbreak. 

On the 30th of December, he sent a message to fellow doctors in a medical-school alumni group. In this message, he warned his fellow medical practitioners that seven patients had been quarantined at Wuhan Central Hospital after coming down with a respiratory illness similar to the SARS coronavirus. 

Four days after this, he was summoned to the Public Security Bureau where he was coerced to sign a letter. This letter claimed that he was “making false comments”. 

According to the BBC, the letter he was told to sign read: 

“We solemnly warn you: if you keep being stubborn, with such impertinence, and continue this illegal activity, you will be brought to justice – is that understood?”. 

Dr Li contracted the coronavirus himself, after treating people who had it.

After contracting the virus, Dr Li continued to post to his Weibo account. “I was wondering why [the government’s] official notices were still saying there was no human to human transmissions, and there were no healthcare workers infected,” Dr Li wrote on January 31 from his hospital bed.

Officials in Wuhan initially played down the threat and censored information on the spread of the disease. “I think it would have been a lot better. There should be more openness and transparency”, Dr Li told the New York Times. Dr Li was one of the eight people arrested for speaking out on social media.

The death of Dr Li Wenliang is a heartbreaking moment for China and a neon sign pointing at the failure of Chinese leadership. 

The following are censorship instructions on how to deal with reporting on Dr Li’s death – issued to the media by the Chinese authorities. If you’re asking yourself the question, “Do I need a VPN?”, this is an indicator you should consider.

Do I need a VPN

The rapid-fire spread of the coronavirus in China, alongside with this sad event, is a clear example of how transparency and openness can save lives, while censorship can lead to global disaster. 

Keeping a deadly disease hidden from the public consciousness only lets it fester and spread silently. Censorship has fed this infection to pandemic proportions. 

The state of the internet in China

The internet first arrived in China as a tool for the emerging “socialist market economy”. In 1998 the Golden Shield project was created. The Golden Shield project was a database project which gave the Chinese government the power to not only access the records of each citizen but to delete any comments online that were considered harmful to the Chinese government. 

https://media.torproject.org/image/community-images/

The image above showcases a simplified topology of the great firewall of China.

In a white paper, released by the government of China, it clearly states that “within Chinese territory, the internet is under the jurisdiction of Chinese sovereignty. The internet sovereignty of China should be respected and protected”. Here’s a direct link to a copy of the whitepaper.

I call bullshit. And so do a growing number of “dissidents” of the Chinese government. 

Looks like the citizens of China are finally getting woke - after decades of attempted brainwashing.

Government agencies have weakened the check-and-balance function that true journalism brings. “The local government’s tolerance level of different online voices is way too low,” wrote Hu Xijin on his social media – editor of the Global Times, a nationalist and party-controlled outlet.

“The current system looks so vibrant, yet it’s shattered completely by a government crisis…We gave up our rights in exchange for protection, but what kind of protection is it? Where will our long-lasting political apathy lead us” – writes a user on Chinese social media. This post was shared over 7000 times and liked 27,000 times. Then it was deleted [censored].

Zhang Ouya, a senior reporter at the state-run Hubei Daily wrote that “For Wuhan, please change the leadership immediately” – on his verified Weibo account. This post was shortly deleted, but not before a screenshot was circulated widely. This was followed by a leaked official document where the newspaper apologised to Wuhan officials with a promise that its staff would only post positive content. Only positive content – with a growing death count in China. 🙄🙄🙄

This outbreak is not only a national crisis – it’s a global health crisis with epic repercussions. On China Central Television, the state broadcaster shows a banquet held by leadership to celebrate the country’s successes. 

“Chinese social media are full of anger, not because there was no censorship on this topic, but despite strong censorship, it is still possible that the censorship will suddenly increase again, as part of an effort to control the narrative,” said Xiao Qiang, a research scientist at the School of Information at the University of California, Berkeley. Critics are finding new ways to dodge censors, referring to Xi Jingping, China’s top leader as “Trump” and/or comparing the coronavirus outbreak to the Chernobyl catastrophe. 

This week, police in the port city of Tianjin detained a man for 10 days for “maliciously publishing aggressive, insulting speech against medical personnel”. He had been critical of the response to the coronavirus outbreak in a WeChat group he shared with his friends.

China’s online censorship system, unaffectionately known as the Great Firewall, is also censoring any information the Chinese government deems a rumour.

What is classified as a rumour?

  • Posts of families with infected members seeking help
  • Posts by people living in quarantined cities documenting their daily lives
  • Posts criticising the way the Chinese government is handling this outbreak

The Chinese government has even announced that anyone attempting to disrupt social order by posting information with sources that are not from state-run media, will face three to seven years in jail. What the actual …fudge.

This censorship is not just a problem for Chinese citizens. It affects us all.

The World Health Organisation has declared a global health emergency. As the coronavirus spreads it becomes clear that one governments’ actions can have a global impact. 

A choke-hold on transparency, openness and the free flow of information does not just affect the country being censored. This is one of the reasons we must take a global stance against internet censorship as more and more countries draw borders around the flow of information.

China may be one of the worst offenders but it’s not alone. Still asking yourself “Do I need a VPN?” 😭

The internet as a means for openness and transparency

This is a very personal cause for me. I grew up in a country where freedom of speech wasn’t a given. The soft power that countries with authoritarian and totalitarian governments have increasingly global impact at the speed at which globalisation is moving. 

This is one of the many reasons I wake up every day to work on Mysterium Network. You can’t put a price on the work that our community is doing to ensure an open internet for all. It’s not just so you can stream shows you like, it could save lives, prevent pandemics and overthrow totalitarian governments. 

Mysterium Network is building a permissionless and distributed virtual private network. Mysterium Network will allow end-users in heavily censored regions access to the open internet.

Our network is for the people, by the people. What do we mean by that? Most nodes in our network [nodes provide IPs that open up the internet for end-users using MysteriumVPN] are residential IPs, meaning they are run in the homes by our community of hacktivists across the globe.

Join us on our mission to open the internet for all. Run a node.

In a region with internet censorship? Give MysteriumVPN a whirl – it’s free while we’re in the testing phase.

يرجى الحذر من محاولات الاحتيال، لن نطلب منك أبداً أن تعطينا مفتاحك الخاص.

نعم، لقد فهمت
X