In today's post, we will have a look at yet another potential cryptocurrency and have a look into the tech and really get a perspective on what this cryptocurrency is aiming to achieve.
So, first up Mysterium has a beautiful website. Its concept is clear and understandable and that's one of the best things that I like about it. I think it's going to be easier to get picked and adopted.
The Objective
The objective of Mysterium is to do a decentralized VPN powered by blockchain technology. So those of you who don't know what VPN is, it stands for Virtual Private Network. It's a way you can surf the web in a sense anonymously or at least untraceable so people cannot tie any kind of search history. Many people can correlate with the deep web.
A lot of people use VPNs generally in countries like China where there's a lot of government censorship and restrictions and they don't allow them to visit simple websites like Facebook. So there's a huge market for VPN, but at the same time, there are a lot of flaws with VPNs as well that Mysterium network is trying to fix.
Mysterium Network acts as a marketplace, its Open Source software allows anyone to join the network both as a provider – selling unused network traffic or as a customer – buying VPN service from other Mysterium Network providers.
If you guys are still not clear with what Mysterium is I recommend you to watch the below video to make things more clear.
Difference between Centralized and Decentralized VPN
VPN companies are very centralized they usually have a hub where everybody connects to and it says that's their IP address. In centralized VPN your private data is in one hand and that means you are very susceptible to that information getting transferred. I would say the majority of the VPN service providers keep your information safe but there are some cases where there have been leaks of information.
Please check out the below image to identify the difference between centralized and decentralized VPN and why Mysterium's decentralized VPN network has the potential to disrupt the current centralized VPN market.
Market Scenario and Growth Prospects
So guys now the big question is the concept might be cool, the team behind this project is awesome and the technology is top-notch but is the market there for this decentralized VPN tokens. Well, Mysterium team has got an answer for that too.
I think people all across the globe want privacy with what they do online and I firmly believe there is indeed a huge growth potential for this. Even if Mysterium can capture 15%-20% of this Billion dollar market it will prove to be very effective and profitable and I think that's only going to grow in the long run.
Please check out this graph below which is also available on their website that shows the future growth potential of Global VPN market.
Conclusion
Mysterium is basically utilizing blockchain technology so that means all the people who are connected to the network can utilize their VPNs for other individuals and can generate Mysterium tokens and pay each other in Mysterium tokens. It is definitely a massive decentralized VPN which is so cool. It's an ambitious project and one of the coolest projects I have come across so far and given that it is currently undervalued it makes a hot investment option for the people who have long-term investment horizon.
Please, share your opinion and comment below about this amazing new cryptocurrency and its potential.
References and Further Reads: 1
