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Sharmini

Switch to Polygon & join our QuickSwap liquidity campaign

$MYST token is now listed on QuickSwap. You can trade MYST with a number of coins and cryptocurrencies at a fraction of the cost and speed, compared to other Ethereum-based DEXs like Uniswap.

Even though trading on QuickSwap is simple, many users will still need to transfer their funds from the Ethereum blockchain to the Polygon one. You can check our blog post here for the step-by-step guide on how to do this. 

When you are transferring funds from one network to the other, two transactions must occur. At current prices, it’s approximately $25-30 USD to make the switch. To celebrate our listing on QuickSwap DEX and support our growing community, we are covering the costs of transferring your funds from Ethereum to Polygon.

Note that Polygon recently rebranded and is formerly known as Matic Network. We refer to Matic at times, as their wallet, token and blockchain are still labelled in this way.

Campaign timeline

The campaign will start on 8th of April and will finish on the 14th of April. Participants will be paid their rewards between 22th and 28th of April, after the campaign ends.


How can I participate?

You need to transfer funds from Ethereum to Polygon (Matic) and/or conduct at least one MYST/USDC trade on QuickSwap between the 8th and 14th of April. Save the links to the two transactions that occurred during the transfer process, and the link to your trade on QuickSwap, so we can confirm your participation.

Please note that you will need to submit all links via this form between the 15th and 21st of April. 

Since QuickSwap uses an automatic algorithm to swap tokens at the best possible price, you don’t exactly need MYST or USDC to trade the MYST/USDC pair. If you have funded your wallet on Matic mainnet with tokens other than USDC or MYST, you can still participate in the campaign, as QuickSwap can convert the tokens for you. 

 

Requirements of participants

  1. You performed at least one MYST/USDC trade between the 8th and 14th of April.
  2. You have filled in this form between the 15th and 21st of April, with the links to your transfer and trade confirmed on the blockchain, as well as your Matic wallet address that supports WETH.

Your compensation

You will receive compensation in WETH for the costs of the transfer, up to a maximum of $30.

For example, Alice transferred funds from Ethereum to Matic and paid 0.005678454 ETH for the fist and 0.01024992 ETH for the second transaction.

In total, Alice paid: 0.005678454 + 0.01024992 = 0.015928374 ETH

Therefore, we will deposit 0.015928374 WETH into her Matic address. If the total value of the two transfers exceeds $30, we will compensate Alice $30 in WETH based on the current exchange rate. 

How should I fill the form?

When you transfer funds from the Ethereum to Matic blockchain, usually two transactions must occur. You need to submit proof of these transactions. You can use a blockchain explorer like Etherscan.io  which shows the transaction confirmations on the Ethereum blockchain. See the example in the screenshots below:

After that you will need to submit a link showing your confirmed trade on QuickSwap. Since Quickswap is a decentralized exchange, all transactions are displayed on the public blockchain. Please use the Matic blockchain explorer links to prove your confirmed trade: https://explorer-mainnet.maticvigil.com/

Check the screenshot below for an example:

Please do not submit links to your liquidity contribution in this field. Only users that have transferred their funds and performed at least one trade are eligible to receive compensation.

In the last step you need to submit your wallet address used for Polygon (Matic) trading, where you will be able to receive your compensation in WETH. 

 

QuickSwap campaign for liquidity miners

Liquidity miners can also benefit from Mysterium’s listing on QuickSwap. We encourage everyone to add funds to the MYST/USDC liquidity pool between the 8th and 14th of April and hold them for at least 30 days.


Campaign timeline

The campaign will start on the 8th of April. Users should add liquidity to the pool between the 8th and 14th of April. Rewards will be paid between 14th and 20th of May, after the campaign ends.

 

How can I participate?

Add funds to the MYST/USDC liquidity pool between the 8th and 14th of April and hold them for 30 days. We’re putting 10.000 MYST bounty pool and you will receive a proportional part to your size of the pool (our own liquidity will be excluded from calculations).

 

Requirements for participants

  1. You added liquidity to the MYST/USDC liquidity pool between the 8th and 14th of April.
  2. You have held the funds in the MYST/USDC liquidity pool for at least 30 days. Liquidity providers don’t need to fill out the form mentioned before. Each participant will receive a part of 10.000 MYST rewards pool in the MYST wallet address that was used to add liquidity.

 

Your compensation

You will receive a percentage of the 10,000 reward MYST allocated for this campaign. For example, Bob added 5,000 MYST to the pool and held the funds for 30 days. The total size of the QuickSwap pool reached 100,000 MYST, so Bob occupies 5% of the total pool.

Consequently, Bob will receive:
10.000 MYST * 5% = 500 MYST

We will deposit Bob’s wallet with 500 MYST.

Want to get involved in Mysterium Network today?

Mysterium Network is a decentralized VPN, with a growing global residential IP node network. There are versions of Android, Mac and Windows apps free to try and easy to use.

Stay tuned for more updates. If you are interested in participating, running a node, or generally have any questions, jump into our discord channel and speak directly with our core team.

Mysterium Residential IP bounty evolves as network grows

Mysterium Network is building a decentralised virtual private network (VPN). In the last few months we have transitioned from our Testnet 1.0 to Testnet 2.0. You can dive deeper into what these updates have meant for our network in our latest product update

Following our upgrade to Testnet 2.0, we have seen organic growth of Mysterium node network – with a 1000 stable nodes and counting to date. 

This has meant a need to review our residential IP bounty program, as we hope to extend the opportunity of earning in Mysterium Network to more regions around the world. 

Attention all Mysterium Node Runners

We are updating the Mysterium Residential IP bounty to offer more flexibility as we go grow our node network. This will mean quick and iterative changes to our Residential IP bounty. 

This begins with an introduction of a cap of bounty rewards to 60,000 MYST/ month for the residential IP bounty program. 

We will also be reviewing growth of Mysterium node network monthly and making amendments to the regions included alongside with maximum payouts per node. Firstly we are increasing the amount of nodes who will receive payouts in our residential IP bounty from 250 to 400. This applies to node runners in the US, UK, Germany, Italy, Netherlands, and Australia. 

For the month of March we are excited to announce addition of Canada and India into our residential IP bounty program! This has been a long awaited region in our community and we hope to see consistent growth of node runners offering service from the region. 

The following are the main changes to Mysterium Node bounty programs:

Residential IP bounty

  • Maximum earnings of 150 MYST / Mysterium Node 
  • 400 nodes will earn in total
  • New region introduced: Canada 

Global IP bounty

  • Maximum earnings of 40 MYST / Mysterium Node
  • 4 nodes / region in Global IP bounty 

You can find more details of the changes noted здесь

To learn more about running a node on Mysterium Network you can check out the following resources: 

  1. What is a Mysterium Node
  2. How to earn on Mysterium Network?
  3. What is the Mysterium Node Residential IP bounty? 

What’s coming in the future?

We are inching closer and closer to the much anticipated Mysterium Mainnet. With this we will seek to implement the following: 

Unified Node Pricing


We will seek to remove manual price selection and unify pricing in Mysterium Network based on region, type of node, quality of service and the supply and demand coefficients in that region. More detail on this coming soon. 

Onwards to a more open internet 

Mysterium Node Runners are the foundation of the core technology that Mysterium Network is building out. We are excited to welcome more node runners into our community. 

To those of you who have been a part of the journey so far, we thank you for your continued support. We couldn’t do this without you. Want to learn more about our project or stay up to date? Follow us on twitter or jump into our discord to chat with our core team. 

Testnet 2.0 is here – Ready for your all-crypto VPN?

New year, new testnet.

Last month we shared details of Mysterium’s testnet upgrade, which came with some exciting new features and functionalities.

We have been in stealth mode upgrading a small percentage of our user base and node runners onto Testnet 2.0, to test and learn. 

Now we’re rolling out Testnet 2.0 to everyone on Mysterium Network.

Experience the power of our global, decentralized network at your fingertips, using your crypto of choice! Top up your Mysterium dVPN account with Bitcoin, Litecoin, Ether or any other major crypto thanks to our Coingate integration. Download Mysterium dVPN today.

 

What is Testnet 2.0?

Mysterium has been running on a Testnet 1.0 for some time as we battletest and refine the code before our mainnet release on Ethereum. This constant process of revision will ensure the dVPN is robust and glitch-free upon its full launch. This is imperative, as when this happens, the app will already be serving hundreds of thousands of users, with a supporting and worldwide node network.

We gave access to the latest iteration of the dVPN to a small handful of BETA testers. Now we’ve received and acted upon their feedback, we’re ready to introduce all Mysterium dVPN users and Node Runners to Testnet 2.0

With this network upgrade, called Testnet 2.0, a number of things have changed, such as node registration flow, updates to My Mysterium Network, a different UI, the ability to earn in 2 networks during the migration, top up VPN apps with your crypto of choice (not just MYST), and the freedom to use our dApp in China!

Read about all these new updates in more detail, as well as how to upgrade and claim your node in Testnet 2.0, in our guide.

Download Mysterium dVPN – now crypto enabled

In a world where censorship is growing rampant, now it is more important than ever to understand your digital rights. With Mysterium Network, we are working to provide a censorship-free internet to all.

Mysterium dVPN has been upgraded to Testnet 2.0, which means you will get some free test tokens. After you run out of these tokens, you’ll be prompted to top up with MYST, BTC, LTC or other cryptocurrencies. Check out our upgraded apps on Testnet 2.0 and let us know what you think.

MYST Liquidity Engagement Campaign Launches on Uniswap

Thinking about providing liquidity for MYST but don’t want to get hit by impermanent loss? We have a solution!

Mysterium Network is excited to present the MYST Liquidity Engagement Campaign, which rewards liquidity providers for providing liquidity to the MYST/ETH pair on UniSwap.

Even though we are not able to reduce the risk from impermanent loss that occurs due to the price fluctuation, we can support our liquidity providers with rewards in MYST tokens

MYST Liquidity Engagement Campaign explained

In the video below, we break down how the MYST liquidity campaign on UniSwap will work and how rewards are calculated. You can read further in the blog post for more details as well.

First things first, what is impermanent loss?

Impermanent loss happens as you add liquidity to a liquidity pool, and the price of your deposited assets fluctuates. The bigger the change, the more exposed you are to impermanent loss.

Impermanent losses can be counteracted by trading fees, as is the case with UniSwap.


What is UniSwap?

Uniswap is a DeFi protocol which allows for the exchange of tokens in a decentralised manner. While we are gearing up towards a listing on a tier one exchange in 2021, UniSwap remains a primary gateway into the MYST ecosystem on Ethereum. 

As mentioned before, impermanent losses can be counteracted by trading fees. UniSwap charges 0.3% for every trade. This goes directly to UniSwap liquidity providers. Now for the cherry on top.

How does the MYST Liquidity Engagement Campaign reduce your risk and give you more rewards?

We are rewarding each participant in the MYST liquidity engagement campaign based on the amount of funds supplied and the duration for which liquidity is locked in the UniSwap protocol.

Liquidity engagement MYST

MYST liquidity engagement campaign details: 

Start Date

Monday, 5th January 2021, 2 PM UTC.

End Date

We plan to run the MYST liquidity engagement campaign on UniSwap for 3 months, until the 3rd April 2021.

Our goal with this campaign is to double MYST liquidity on UniSwap. We will review the success of this campaign after 4 weeks on the   4th February 2021. Following this, we will evaluate engagement and feedback from the Mysterium community.

Should we see uptake from the wider Mysterium community during the first month, we will prolong the campaign for the next two months.

How are rewards calculated?

When you provide liquidity on UniSwap, UniSwap mints liquidity tokens proportionate to the added liquidity. This allows us to calculate each liquidity provider’s engagement. 

Our program analyses UniSwap liquidity token distribution at each block and proportionally distributes tokens to liquidity providers participating in the campaign. 

MYST liquidity campaign uniswap

MYST tokens will be distributed as rewards to liquidity providers for the MYST/ETH pool on UniSwap V2 each week. 0.15 MYST tokens will be allocated to each Ethereum block. This will vary alongside price fluctuation.

We have allocated up to 30,000 MYST for the month of January. This is subject to change depending on number blocks per period and price of $MYST.

Minimal time tick on blockchains usually is one block, which on Ethereum blockchain occurs every 13-15 seconds. Approximately 6,700 Ethereum blocks are mined each day. This means that liquidity providers will divide 1,005 MYST tokens per day between themselves based on how much each of them has contributed to the liquidity pool. 

You can use the following formula to calculate your potential rewards:

Your UNI-V2 pool tokens * 0.15 / total supply provided by liquidity providers in campaign

There is no minimum or maximum amount of funds required to participate. Every liquidity provider will be awarded proportionally. We reserve the rights to change the reward size as the program matures.

How do you get involved and earn MYST for providing liquidity?

To stake and begin earning MYST liquidity mining rewards:

  1. You must deposit an equal value of MYST and ETH tokens to the MYST/ETH pool on Uniswap V2. 
  2. After successfully contributing your cryptocurrencies, you will receive UNI-V2 pool tokens representing your share of the MYST/ETH liquidity pool. 
  3. You can monitor the size of the pool and your share of it здесь. We are excluding Mysterium Network’s share of liquidity in how rewards are calculated. 
  4. You can add or remove liquidity at any time as our system will track the liquidity pool within each Ethereum block. Every time there is a change of distribution in the pool, reward proportions will be adjusted accordingly.

For example:

You provide $10,000 worth of liquidity for a week while the total liquidity pool is $200,000 (excluding liquidity provided by the Mysterium team).
Your share of provided liquidity is 5%; therefore, you will receive 5% of all token rewards distributed during the week.
The total reward amount for the week is 7,035 MYST tokens, so your share of 5% will result in 351.8 MYST tokens.

How are rewards distributed?

Each block earning is summarized. You can claim your earnings at any time using the claim button on our liquidity campaign leaderboard on liquidity.mysterium.network.

Alternatively, we will airdrop the rewards once per week due to high Ethereum transaction costs to the liquidity providers that earned more than 500 MYST tokens.

How can you track and claim your rewards?

Want to track how much you’ve earned in the MYST liquidity engagement campaign? Looking to claim your rewards? Check out our step by step help guide.

Why invest in growing MYST liquidity pool on UniSwap?

We are focused on building a healthy MYST ecosystem so that community members can enter large positions with as small a price slippage as possible. For this we are seeking to create incentives for the wider Mysterium community to benefit from providing liquidity on UniSwap. This is the first of many campaigns like this to come. 

 

Join us in making the world a more open place. 

Mysterium Network is at its core a grassroots project, run for the people, by the people. We’ve seen more than 100x growth within our network in 2020. 

Now more than ever it is pertinent that we seek community based incentives to grow a healthy MYST ecosystem that matches our growth in users and node runners. 

We’re excited to meet our future MYST liquidity providers. Get started now.

Questions? Chat directly with our core team on discord, or tweet at us.  

 

Matic Network powers Mysterium P2P payments

Are you ready for faster, cheaper dVPN transactions? Matic Network is making it happen for you!

 

We’re excited to share that we’ve partnered with Matic Network. We’re only weeks away from our live integration with their custom Layer 2 solution, which will provide all users of Mysterium dVPN with almost instant P2P payments, at a fraction of the cost. (Quite literally, it’s a millionth of a fraction…)

 

The problem we are solving with Matic Network

As the wider community is surely aware, we as an industry have been facing specific challenges with expensive transaction fees on the Ethereum blockchain. 

With the freedom of speech online being debased, a global pandemic and other macro forces in play  – we see it as a priority to enable peer to peer payments in the most frictionless way possible.

Mysterium Network, with our pay as you go service, is a natural ally for emerging markets when high transaction fees on Ethereum lock these users out.

This integration with Matic Network will mean that Mysterium account creation and top-ups will happen on a sophisticated and scalable Layer 2 sidechain, instead of on the Ethereum blockchain.

MATIC network

What this means in technical terms:

  • Hermes, Mysterium’s accounting hub, will be running on both Ethereum and Matic – find out more about Hermes hub in our micropayments whitepaper.
  • You will be able to move MYST tokens onto Matic via a Hybrid Plasma-POS Bridge. This bridge provides a POS and a Plasma option to bridge assets between Ethereum and Matic. 
  • The mysterium payment system will support cross-chain payments. This means that VPN users can have funds on L2 Matic chain, and Mysterium node runners can accept funds on L1 (Ethereum)

 

Some relevant numbers – registration TX fee on…

ETH mainnet: 10.3322418978 MYST

Matic: 0.000005699966589 MYST

In short, Matic is  1, 812, 685 times cheaper!😱

 

Want to know more?

We have written extensively on the topic in the context of building out a global censorship-resistant layer. For those interested: 

  1. Layer 1, 2, 3 and beyond: The search for the cheapest and fastest microtransaction
  2. Introduction to micropayments in a decentralised virtual private network (dVPN)
  3. Read our technical deep dive on peer to peer micropayments.

Want to get involved in Mysterium Network today?

Mysterium Network is a decentralized VPN, with a growing global residential IP node network. There are versions for AndroidMac and Windows, currently free before our full launch.

Follow us on Twitter for regular updates or jump into our discord channel to speak directly with the core team.

 

Migrate your tokens & earn 10 $MYST

Mysterium Network has been hard at work building a decentralised VPN. To date, we have maintained an incentivised test network of residential IPs for over a year. Our next step, peer to peer payments – which come with Mysterium Mainnet.

Relevant Reads:

  1. Mysterium Token Migration Guide 
  2. The Road to Mainnet: Mysterium Product Roadmap Update 

Mysterium Network began our token migration as part of our wider move to MainNet. To date, we have migrated about 15 million legacy tokens.

As we approach Mainnet, we would like to encourage our core community to migrate legacy MYST tokens. To help this initiative along, we are launching an airdrop between the 18 & 25 November 2020! 

We are launching an airdrop between the 18 & 25 November 2020!

Why an airdrop?

We plan to compensate MYST token holders for the high Ethereum transaction fees they might incur during the token migration process.

To reiterate terms of our token migration: 

  1. This a 1:1 token migrations
  2. No new tokens will be created

Want to get 10 MYST airdropped into your wallet? 

  • Migrate your tokens from your old addresses to a new one from 00:00 between the 18 & 25 November 2020
  • Regardless of the number of tokens that you own, we will compensate you 10  MYST (One user gets 10 MYST). 
  • Multiple applications from one participant, as well as other actions that can be qualified as fraud, will result in disqualification from this airdrop. Simply put, no MYST if you try to game the system. 
  • MYST tokens will be distributed to new token addresses between 26 November and 2 December 2020

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.

How can I get support migrating my legacy MYST tokens?  

 We have an easy to follow token migration guide to get you started, otherwise jump into our discord channel and speak directly with our core community and team.

How can I get support on this airdrop?

If you have any issues with the airdrop after successfully completing all terms of requirements, please, write to us at [email protected]

Mysterium Network begins token migration

Mysterium Network begins its official token migration today, 31st August 2020. This will be a 1:1 token migration, so no new tokens will be created. Legacy tokens will not be supported in the network, so you will need to migrate your tokens before topping up in-app.

Here’s the new MYST token address: 0x4Cf89ca06ad997bC732Dc876ed2A7F26a9E7f361 

Узнать больше about how the Mysterium Network token migration moves the project towards peer to peer payments on the Ethereum blockchain.

What is Mysterium BetaNet?

Mysterium BetaNet is the first iteration of peer to peer payments within Mysterium Network: 

  • MYST as a means of value exchange in the network 
  • Payments are settled on the Ethereum blockchain 
  • It’s our second stage towards Mysterium Mainnet.

Mysterium Network is running an opt-in BetaNet. Mysterium Network will not be migrating TestNet users to BetaNet at this stage. VPN services continue to be accessible on Mysterium TestNet.

Sign up to take part in Mysterium BetaNet.

What should MYST token holders do?

MYST token holders are encouraged to migrate their tokens at their earliest convenience.  

Though there is no deadline on the migration, you will not be able to access VPN services within Mysterium Network using legacy MYST. 

If your MYST is held in a decentralised exchange or in a wallet, you will have to migrate your tokens yourself. Please follow the token migration guide. 

If you have your tokens stored on HitBTC, they will be migrated for you. The Mysterium Team is currently working with their team and will provide updates as we progress.

High Ethereum transaction fees, and what that means for Mysterium Network

Ethereum transaction fees spike, affecting dapp user onboarding

As we all know the market is changing. The DeFi bubble has led to insane Ethereum transaction fees

But it isn’t just decentralized exchanges that are being hit by this spike in GAS prices. Decentralised applications building within the Ethereum ecosystem is having to go back to the drawing board.

As you can see in the chart above, you can see that this a problem that is here to stay. 

Take for example the impact of a $3 transaction fee with a median expected top-up value between $3 – $10. Using a dex would incur an even higher transaction fee. So in some cases transaction fee can be as big as topup value, such situation is a point of friction in our user onboarding process. 

In the long term, there will be widespread and commonly accepted layer two solutions for the decentralised community that will solve for these spikes in the transaction fees on Ethereum. This could be ETH 2.0 or a widely adopted second layer solution based on payment channels. 

But this isn’t the current case. As a team committed to user onboarding, we put serious time and thinking into how we can alleviate this friction point for users within Mysterium Network.

What about other blockchains?

We have taken time to consider other blockchains and analyse if this is a solution to the transaction fee problem. There are several EVM compatible solutions such as RSK, Tron, TomoChain, just to name a few.

In case you were wondering…

There are endless solutions which are just as promising when it comes to cheap and fast transactions, for example, EOS, Liquid, Stellar, Nano, Holo, and the list goes on…


Here are some of our reasons for our continued commitment to the Ethereum blockchain: 

  • The Ethereum ecosystem holds a large community of users who know how to use Ethereum wallets
  • Integrations with DEXes such as Uniswap, which will allow for ETH, DAI and other ERC 20 token holder communities to easily pay for VPN services within Mysterium Network
  • Proven security model 

Big and growing developer community. As builders, we want to be amongst our own. 

But does this mean we have to live with the high transaction fees? Not necessarily - Introducing “Mysterium Pro”

How does Mysterium Pro solve the transaction fee problem?

The only place where these high transaction fees touch Mysterium Network’s service offering is in the top-up function. All other transactions are happening in our own, scalable micropayment channels based L2 solution. Find out more here:

  1. Introducing payments on Mysterium Network
  2. A deep dive into payments on Mysterium Network

This is the moment where end-users top-up their payment channel so they can begin to pay for VPN services within the network. 

With Mysterium Pro, users can circumvent high transaction fees by choosing to top-up their payment channels with BTC, BCH and other low transaction fee tokens. 

Mysterium Pro will also include a solution which batches end-users tokens before converting them to MYST, therefore spreading the cost of transaction fees over users. This allow means mucheven cheaper top-ups for Mysterium Pro users.

Mysterium Pro launches after our mainnet release. See our latest update on MYST token migration.

Want to get involved in Mysterium Network today?

We’re building towards Ethereum mainnet. This is when peer to peer payments within Mysterium Network become a reality. As part of this, we are recruiting testers for our beta net, a place where we will work with our community to battle test our code.

Here’s a snapshot of our progressive migration onto Ethereum mainnet: 

If you’re interested in getting involved, sign up here!

Want to get involved in Mysterium Network today?

Mysterium Network is a decentralized VPN, with a growing global residential IP node network. Download our apps to browse the internet freely.

What is the Web 3.0?

web 3 mysterium

Will all technology eventually become obsolete, replaced or abandoned? Or are some things so deeply rooted in our world that they can only evolve, just as we do? 

It’s hard to imagine the internet as a technology of the industrial revolution. This giant and permanently entangled web of wires, routers, servers, towers, and electric currents passes information at a speed somewhere between that of sound and light.

This internet infrastructure exists everywhere, a cloud that lets us carry “the web” in our pockets and power our homes with smart devices. It’s no longer one technology, but an undefinable mesh of countless technologies, protocols, software and hardware, interoperating and speaking to each other.

We are all now connected by the Internet, like a neurons in a giant brain.

stephen hawking
Hundreds of thousands of kilometers of submarine cables connect us, but will these age well? 

And yet the internet we know today - referred to as the Web 2.0 - is falling apart.

Over-centralization has become a threat to its accessibility and democracy. Officially governed by “no one”, the internetit has flourished into a commercial machine which serves a handful of powerful and self-interested businesses. Corrupt governments can cut off their citizens from the internet altogether. And if your personal data hasn’t been hacked yet, it’s only a matter of time

But rebuilding the internet itself seems an impossible task. Instead, we can decentralise it.

New technology can help change how we build business, how we design our governance systems, and how we operate global organisations.

Juan Benet

The decentralisation of the web is a global movement, led by many different groups all working towards the same objective; to ensure equal, free and uncensored access to the web for all. We do this by taking the same physical pieces that make up the internet today, and repurpose them so they protect and serve users.

Before, we were merely plugged into the internet. Now we can become the internet itself.

Important sidenote – the internet and the web are two different things; when we refer to the internet, we mean the physical infrastructure – the wiring and protocols governing how computers communicate with each other. The “web” is made up of websites, web applications, web browsing. It’s a platform which hosts documents and applications, with clickable hyperlinks.

Weaving the World Wide Web

Before we dive into Web 3.0 and its mechanics, let’s take a brief look at the history of the internet.

In its early stages, the internet was made up of a distributed network of computers. Its original architects, including founding father Tim Berners-Lee, envisioned it as inclusive and open. To access and be part of this network meant to contribute directly to its growth and development, with everyone sharing responsibility equally. Each user could communicate with each other directly, without the need for third parties or businesses, such as ISPs today. 

Towards the end 1990, the first web page became available on the open internet. 

In 1991, this Web 1.0 was launched as a public domain, a digital and shared space like a public library or park. Users anywhere were invited to join this new online community.

In the mind of Berners-Lee, the internet was designed to be “a collaborative medium, a place where we [could] all meet and read and write.” But as more people connected and the network grew in size, Berners-Lee understood that to unlock the power of the internet, it had to be “permissionless”, meaning no one had to seek permission to join. 

Had the technology been proprietary, and in my total control, it would probably not have taken off. You can’t propose that something be a universal space and at the same time keep control of it.

Tim Berners-Lee

However, the web at this time was mostly static, offering read-only content. There were very few content creators, with most users of the internet “acting as consumers”. The internet was soon taken over by the first internet businesses like AOL and Yahoo, who became the gateways to the web.

In 1994, Netscape launched the first commercial-grade web browser, and the dot-com explosion began. 

Web 2.0 - Users at the bottom of the internet foodchain

In the early 2000s, the internet became more interactive. The evolution of the read-only Web 1.0 to the read-write Web 2.0 brought us the “web as a platform”. Users could easily start creating and publishing content themselves, even learning HTML (HyperText Markup Language, the markup language for the web) to build their own websites. 

As an interactive and dynamic system where anyone could participate, this read-write web is what catalysed the birth of many new systems and applications which today have become some of the biggest businesses in the world. Participatory social networks like Facebook and Myspace, online marketplaces like Amazon, AirBnB and Uber, content creation and entertainment – all these plug into Web 2.0, creating new economies and standards for socialising, communication and business. Social media in particular has reinvented the way we shop and consume news.

Unfortunately, the business models propping up the internet today are as exploitative as they are successful. It exists to serve those “who have something to sell”, who even in the 90’s were predicted to become the main beneficiaries of the web. Companies rely on user-generated content to keep their platforms running, yet our personal data is harvested and sold to companies we’ve never even heard of. 

And if it’s not monetized, our personal information is routinely hacked due to the insecure centralized systems that have led to countless data breaches in the past year alone, exposing millions of records. These centralized databases are gold mines, making us targets for cybercriminals who can steal our personal information, banking details or simply sell our identities on the dark web.

So despite the internet being hailed as the greatest technological advancement of all time, it turns out corporations have really made a mess of things (but earned billions in the process). We desperately need to protect users and preserve the future of the internet itself, before it’s too late to turn things around. 

There are many teams working to restore the internet to its former glory. The resurgence of decentralized, P2P technology has meant we can rewire the internet so that it becomes private, safe and accessible by default. It will protect and compensate users, instead of milking them for data and profit. 

A slight digression… what is the “other” Web 3, the “semantic web” ?

It was once thought that the evolution of the Web 2.0 into Web 3.0 would bring us the “semantic web”. 

The semantic web was to improve web technologies so they can “understand the meaning of words, rather than on keywords or numbers… In this version of the Web 3.0, computers can understand information like humans in order to provide faster and more relevant results. They become more intelligent to satisfy the needs of user.”

Tim Berners-Lee described this web as a “Global Brain” which could process content in a human-like way, interpreting the nuances of concepts and information. Though billions of dollars were invested to develop the semantic web, it has not been brought to life (at least for now).

The decentralized web - a digital rebellion

The best way to think of the Web is as a direct-to-customer distribution channel, whether it's for information or commerce. It bypasses all middlemen. And, it turns out, there are a lot of middlepersons in this society. And they generally tend to slow things down, muck things up, and make things more expensive. The elimination of them is going to be profound.

Steve Jobsin a 1996 interview with Wired, about the impact and future of the Web

The “new” Web 3.0 is often referred to as the decentralised web, as this is the main underlying technological and theoretical standard which powers it. As we shift into a new internet era, this adaptation of the Web 3.0 actually draws it closer to its original roots. 

One of the biggest problems with the internet today is that it is heavily centralized, with a small collection of companies storing and powering the web via privately owned servers. Remember Web 1.0? That was a decentralized system, with a network of computers (and their users) storing that same data. There was no long line of middlemen, queuing up to connect us and take their cut. With that version of the web, no one had to pay a company or service to join, there were no centralized nodes, servers or governance systems, no single point of failure, and no “kill switch”. These are all qualities and components that the decentralized web hopes to restore.

But how does the decentralized web “work”?

The Web 3.0… an inclusive set of protocols to provide building blocks for application makers. Present a whole new way of creating applications. These technologies give users strong and verifiable guarantees about information they are receiving, what information they are giving away, what they are paying and what they are receiving in return.

@GAVofyork

With the introduction of new technologies like blockchain and distributed ledger technology, we can decentralize many different systems that were once dependent on centralized methods. (This can also be applied to systems beyond internet protocols, such as law and economics, but that’s a story for another time.)

Blockchain technology has democratic and self-governing architecture. Take the Bitcoin blockchain, for example; as a peer-to-peer system, it is run by its own users, who are rewarded when they help keep it running. Due to its heavy encryption and clever mechanics, it is practically incorruptible. And the best part is, a blockchain is available for anyone to verify and anyone to join. 

Learning all the lessons of what Bitcoin did to money, we’re starting to do this to all other kinds of services. Torrents and other file sharing sites kickstarted the P2P revolution. Bitcoin entered the scene providing the final piece that was missing all those years ago – incentivisation. Blockchain’s economic model has changed the game, and makes it far more scalable.

And with the advent of smart contract technology, we can ensure the benefits of decentralized protocols are easily passed onto the user. (Smart contracts are pieces of code that can automate and self-execute tasks based on an agreement. And since the smart contract acts as the “middle-man”, it doesn’t need to be paid). 

Now we take these unique protocols and plug them into the web itself. Instead of centralised servers, we can create peer to peer systems which allow people, not business, to securely share and store data online. Your computer becomes a node, acting as a miniature server (node). As a node, you help power the entire network by directly sharing your excess resources, such as bandwidth or processing power. And as a decentralized system, it runs without any kind of official host or authority at all, making it stronger from a security and network health standpoint, with no single point of failure. The bigger this distributed network grows, the faster it becomes.

Learn more about P2P networks

Much, much bigger than the cloud.

You can imagine the decentralized web as a new layer, one which still utilises all the existing infrastructure of the internet today, but “rewires” it on a technical level and reimagines it on a social one. This new layer relies on people, not business, to keep it powered, open and free. In this way, the Web 3 alters the very way we access the internet, retrieve information and operate online. One of the best promises of this tech is its ability to return sovereignty over data ownership. Now we can truly own, protect and profit from our own data. 

And perhaps the most important and new property introduced by the decentralized web is verifiability. It enables any user to verify and confirm the claims of the services they are using. 

We can now check that services are being delivered in the way they’re promised, and that our data is being handled securely.

Pieces of the decentralization puzzle. 

Some Web 3.0 companies.

Much of the decentralized community is already committed to open-sourcing their code, but with Web 3 platforms and apps, this transparency is often built into the technology itself. Verifiability is embedded in the infrastructure. Users no longer have to trust the teams and spokespeople behind the platforms, as the technology itself is trustless by design. This is a far cry from the current state of Web 2.0, where online businesses hide behind terms of service and codes of ethics, and we just have to take their word for it.

P2P privacy

The Web 3.0 enables anyone to build all kinds of autonomous applications and networks. The practical use cases of blockchain and DLT have made their impact on industries from health, law, finance, energy, the sharing economy. 

Mysterium Network is one such network that is helping to weave together this second layer of the internet. As a permissionless, decentralized network with a focus on censorship-resistant web applications, it helps us reformat the web, allowing people like you and me to own and manage the internet. The first app to be utilise the network is a world-first decentralized VPN (dVPN). 

As with other decentralized apps and platforms which make up the Web 3.0, a dVPN service is powered entirely by other web users like you. Each person rents out their IP address and bandwidth to others in this P2P network, earning crypto in exchange. Due to its distributed infrastructure, none of your data can be physically stored anywhere, and all traffic being routed through these personal nodes is heavily encrypted.

You can use this Web 3.0 app to bypass unethical censorship and surveillance. Governments everywhere regularly attempt to prevent the use of encryption tools and anonymity in any form. With over a quarter (27%) of the world’s internet users living in places where they can be arrested for posting, sharing or even “liking” something on Facebook, it’s time to fight back. The Web 3.0 can protect its users, keeping them anonymous while they browse the web openly and safely. 

We don’t have to keep making new privacy tools that can be blocked – we change the very nature of being online in the first place. We’re building safer roads, not inventing safer cars. 

It’s invisible and undeletable internet infrastructure. 

The decentralized web is an equitable and open space where everyone can contribute, build and reap the rewards for themselves. 

You can join it for yourself, just by downloading this app we made just for you 🙂 It’s free to use for only a short while longer.

Learn about the upcoming launch of Mysterium Network on mainnet. 

Mysterium Network Pre-Mainnet AMA

Netflix VPN

ICYMI…

We put some Mysterium faces front and center for a pre-launch AMA special. Answering all your questions was founder Robertas, product owner Jaro and head of marketing Sharmini. 

We covered everything from our financial runway to why we sometimes release “broken” software. We also pulled apart the network on a technical, commercial and social level, explaining our processes and why we do what we do. 

As we prepare for our launch, Mysterium’s mind is on few things: 

  • Keeping our node pool strong and diverse, with the right incentives to maintain network health and scalability
  • Plans for rewarding loyal and long-term users, including staking opportunities 
  • Preserving the utility, stability and liquidity of MYST via world-first micropayments architecture 
  • Testing, testing, testing 
  • Effective marketing to onboard new users and make as much noise as we can about this decentralized, permissionless VPN
  • And keeping our ultimate promise; delivering a platform where you can not only access privacy and anonymity on your own terms, but own it fully. 

Watch the recorded video and see for yourself what’s to come. We’re sure there are questions that might not have been asked, so please reach out to us on Discord or via our support.