NYM Price Chart Update [NYM]

The NYM price update as of now is $0.1639. In the previous 24 hours, its trading volume was $2,208,280, and its value has decreased by -2.32%. As of now, NYM's live market cap is $16,834,615, and it is ranked as the #649 on the Coincu. NYM has a circulating supply of 102,743,066 and a maximum supply of 102,743,066.

The Next Generation of Privacy: Introducing NYM

NYM is an innovative privacy system created by prominent researchers and developers from esteemed institutions like the Massachusetts Institute of Technology, KU Leuven, and University College London. This state-of-the-art system consists of a mixnet that ensures privacy at the network level, private credentials that protect user privacy at the application level, and the NYM token, which incentivizes system operators and guarantees long-term sustainability and scalability. Collectively, these elements will establish a decentralized global privacy network powered by the NYM crypto-token.

How Does NYM Ensure Privacy?

NYM provides a comprehensive privacy solution that enables developers to integrate their existing applications with the system, safeguarding user privacy at both the network and application layers. By utilizing the Nym mixnet, applications can enhance privacy at layer 0, providing metadata protection for other blockchain and cryptocurrency projects operating at layer 1 (e.g., Bitcoin and Ethereum) and layer 2 (including most DeFi projects).

Exploring the Nym Mixnet

The Nym mixnet is a decentralized network consisting of three layers of computers. It utilizes the SPHINX packet format to encrypt communication traffic, rendering all data indistinguishable. Within each layer, internet traffic is mixed with other users' traffic, effectively obfuscating metadata such as IP addresses, timing, and destinations. This ensures that messages are "lost in the crowd," safeguarding both content and metadata and guaranteeing private communications. As the saying goes, "Privacy loves company," and a mixnet provides the necessary environment for enhanced privacy by combining and anonymizing data from multiple sources.

The Value of the NYM Token

The value of the NYM token is intrinsically tied to the growing global demand for privacy, which has become increasingly vital as the internet expands into new domains. As of January 2020, the number of global internet users reached 4.5 billion, and more individuals, companies, and organizations are concerned about surveillance and uncomfortable with how their data is utilized online. While Tor, a volunteer-run privacy system, exists, it has limitations in terms of global reach and scalability. NYM aims to address these challenges by introducing economic incentives that reward nodes running the system. This approach ensures that privacy becomes economically sustainable and scalable worldwide, allowing everyone to benefit from the next generation of privacy-enhanced infrastructure.

By holding the NYM token, individuals globally can have a stake in this groundbreaking privacy ecosystem and contribute to the advancement of privacy on the internet.