What does this mean?
Step one: Network Fork 1
All users and node runners within Mysterium Network will have to upgrade into testnet version two (Testnet 2.0).
What is Testnet 2.0?
a) New smart contracts on Goerli testnet – Mysterium Testnet 2.0 will be using new test MYSTT token, same code as new MYST token, with `permit` function and 18 zeros (instead of 8) after the comma. We will also be using a new set of payments smart contracts which will halve settlement of collected funds and add support for being used in multiple chains.
Read more in our deep dive on Layer 2 solutions so as to avoid ETH transaction fees.
b) Payment processor integration into apps – this will provide the possibility for dVPN consumers to top-up via their Mysterium account with a set of different cryptocurrencies (such as BTC, LTC, ETH, BCH, DAI or USDT). Paid funds will be converted into MYST (or to MYSTT while in testnetv2) token and be sent into the user’s payment channels (top-up address) on the blockchain.
c) 1 MYSTT will be equal to 1 MYST. Also, bounty payouts will be done in MYST tokens. Previously we have pegged 1 collected MYSTT to 1 USD and did node runner bounty payouts in ETH. To take us closer to MainNet environment conditions, the time has come to implement pay-outs in MYST tokens. We will be still using our ETH bounty fund reserves, but we will be buying MYST token on the market to do payouts for node runners.
Users will have to update their applications. You will be given a starter kit of MYSTT. Following this users will need to top up using BTC, LTC, ETH and other cryptocurrencies.
Existing Node Runners will need to upgrade their node into the newest version, network upgrade will be done under the hood.
- Node runner bounty will be paid only for Mysterium Node Runners running on Testnet 2.0
- Node runners will begin to receive payouts in $MYST.
A month after the transition begins, testnet 1.0 will be completely destroyed. Network fork ends.
We will be releasing BetaNet (silent launch for a limited set of test users) and upgrading Testnet 2.0 to use some of Ethereum’s sidechain and cross-chain payments (consumers will be on a sidechain testnet, and node runners will have their accounts on Ethereum Goerli testnet).
This upgrade will happen under the hood and users may even not recognise that such change happened.
This will mean cheaper on-chain transactions for users and node runners as account registration and top-ups will happen on the sidechain instead of Ethereum Blockchain, once on MainNet.
Stay tuned for exciting integration partnerships coming very soon. Subscribe to our newsletter to hear it first.
As you can clearly see, the nature of the service we are offering and the emerging markets that we are a natural ally to, make Ethereum’s current transaction fees a lock out when onboarding new customers.
As such, like many other Ethereum-based projects, Mysterium Network has had to reroute our roadmap in search of scalability solutions to give our users the cheapest and fastest service possible, while maintaining decentralized and noncustodial architecture.
In the following sections, we will review existing Layer 2 solutions in relation to Mysterium Network’s use case, explaining how they offer both opportunities and limitations.
All users and node runners within Mysterium Network will be upgraded onto Mysterium MainNet in 2021.
What is MainNet?
MainNet is Mysterium Network on Ethereum Blockchain. All internal payments will be done using real MYST tokens.
Users will pay as they go for VPN service on Mysterium Network. Mysterium Network will run a few free nodes so that new users can test the service before topping up their account. This is also when we will look to roll out our much-awaited referral program, and other user-focused bounties.
Node Runners will continue to be paid in MYST. This marks the end of the Mysterium Node Pilot No provider bounty is needed at this point and node runners can settle collected funds any time you like.
What happened to our Mysterium Pro plans?
As we had previously written, we were considering Mysterium Pro as our solution to high Ethereum transaction fees.
Thanks, to Multichain support and the ability to use sidechains for consumer payment channels (top-up wallet management), we can avoid releasing a custodial MysteriumPro solution and instead merge its best features (such as pay in different cryptos, or one-click connect) into the default Mysterium VPN application itself.
Onward to MainNet
Mysterium has been hard at work getting peer to peer payments implemented within the network. This has meant the navigation of a quickly shifting technological landscape. We wouldn’t be here without our community of node runners, users and token holders.
We thank you for your ongoing support and are excited about the new changes to come as Mysterium Network grows to meet the new and very real challenges of our times.
If you haven’t already, download Mysterium VPN or start to run a node.