We’re just a matter of months away from our Mainnet launch.
As we enter this final pre-Mainnet phase, our current testnet will be upgraded, which requires a migration of all user accounts so we can hit the ground running.
Our integration with Polygon is also now live, which means almost instant and gas-less payments.
We’re opening up this testnet up to a small group. The first 50 node runners to join the BETA program will earn 5 MYST for participating, and an additional 5 MYST for sharing valuable feedback. You can get all the details in our GitHub.
While this phase is our final polish on the backend, it also introduces a number of new features that you’ll get to enjoy early.
Discover these below, and then read on to learn what comes next, including our big plans after Mainnet.
1. Fast and inexpensive withdrawals for node runners
Polygon (formerly Matic) is now in full throttle and powering the peer-to-peer payments system. Your transactions and withdrawals will be a fraction of the cost and speed.
Upon our mainnet launch, node runners who currently collect tokens via Polygon will also have the alternative option to withdraw their earnings directly on Ethereum mainnet without dealing with costly fees and wait times.
With this new system, your earnings will be deposited directly from your Polygon wallet to your Ethereum one. This requires only one transaction, so with no extra validation or block processing time, it will be three times cheaper than current Polygon withdrawals.
(NB: While P2P micropayments are cheap because they’re held off-chain, actually withdrawing funds can be pricier due to the mainnet transaction required.)
During our pre-Mainnet phase, we will be testing the readiness of this feature, where withdrawals will be made from the Polygon Mumbai testnet to Ethereum Goerli testnet.
2. Registrations are free…
All new users and nodes will be able to set their beneficiary wallet without paying a registration fee. There will be no need to earn some MYSTT before changing this beneficiary wallet address either. Your address will instead be stored in a local node database, and addresses are only recalled when payouts are happen
3…and also faster
On Polygon (including its testnet), blocks are mined faster and there are no gas price surges. We anticipate that new consumer identities will be registered almost instantly. This will apply for both new dVPN users and node runners.
4. Automagic pricing
Nodes will no longer have to set prices manually, as prices will be chosen based on a supply and demand algorithm for each region. The algorithm will assess node type (such as residential or non-residential IP), location and quality. For example, all residential nodes in the United States will have the same price set by default. The more dVPN users choosing nodes in a certain region, the price will increase. If there is less demand, then prices will go down.
This system functions similarly to Uber’s surge pricing, which determines price based on availability within the network.
The formula for this pricing is as follows:
Base Price x Load Coefficient
Load coefficient = active sessions / active providers in the region
The system will have adaptive pricing and evaluate the current MYST value. If token prices fluctuate, then the base price will adjust automatically.
This is especially important for our upcoming Smart Connect feature, which forms groups of node pools with similar qualities, price and region. When users need to reconnect to a new node, it will be priced the same, creating equality of service.
5. Better node discovery
We wrote our node discovery service from scratch. It was originally coded in Python, but we’ve transitioned to GoLang and made some architectural changes, so it’s 1000 x faster than before. Now when you open the dVPN, loading the list of worldwide IP addresses will feel almost immediate. The code also allows app developers to filter and slice nodes in a much more flexible way than before.
6. Better infrastructure, less downtime
Our network will have self-healing infrastructure. This means if faults occur, or there are potential attacks on the network, we will be better protected.
Our support services are also being updated and will cover multiple regions and timezones.
If you run a Mysterium node, don’t forget to join our Pre-Mainnet BETA testers group and get up to 10 MYST in bounties! Join here.
Drawing the new Mysterium Map
We’re on track for mainnet release in Autumn 2021. As our community (and the wider Ethereum industry) is aware, extreme network congestion and crippling gas fees left a lot of dapps in the dust. Our team had to re-route our original mainnet roadmap to ensure that we could still provide the best quality of service as a network that depends on millions of microtransactions every single day.
Though we’ve suffered these delays, our network is now stronger than ever because of it. Upon launch, our Layer 2 and 3 solutions give both our users and node runners a lightning fast, gas-less user experience that remains unaffected by Ethereum’s issues.
But where to next?
Mysterium has some big plans following its mainnet launch.
We will see the manifestation of our whitepaper and the culmination of three+ years of code, sweat and tears. Our community of node runners is literally the backbone of our network. This grassroots project would be nothing but an idea without this community bringing our peer-to-peer protocol alive.
Other than key product updates, including the iOS version of the dVPN, our next major milestones will move us into a new era of Mysterium.
Our new tokenomics model will help us scale the network and make it more robust. We want to reward every player in the network, and invite new ones to discover how P2P marketplaces can also join the world of decentralized finance.
Read about Tokenomics 2.0, powered by PARSIQ’s IQ Protocol.
We’re also spreading the Mysterium magic even further. We’ll have a core focus on growing our ecosystem and becoming a breeding ground for innovation. We’ve built a completely original protocol that we’re proud of and which is helping users all over the world facing censorship and surveillance in their daily lives. It’s time to make Web 3.0 a reality, and our post-mainnet plans will center around growing this space and making the internet truly blind to borders.
See you on the other side of mainnet.