NYM

What is NYM and how Does It Work?

Nym pays attention to user privacy, particularly in regard to medical data protection. Leveraging technological features like mix nodes, gateways, and validators, it enables functionalities such as instant messaging and Lightning Network payment applications. As part of its ecosystem, it recognizes the potential for Sybil attacks through multiple nodes registration, addressed by stake delegated nodes and an Nym token system. Nym employs a source-routed decryption mixnet and anonymous credentials to bolster privacy, aimed at avoiding information mix-ups and breaches of personal privacy. It also places an emphasis on legal precautions, adopting measures to prevent acts like money laundering, without the need for centralized parties. Node operators are rewarded in the Nym network, with bandwidth credentials employed for compensation.

Nym functions as a privacy infrastructure service. Through the use of mix nodes, it protects the privacy of communication and evenly distributes awards among node delegates. It facilitates the conversion of Nym tokens into anonymous credentials and aspires for large-scale adoption and scalability. Nym Technologies SA, the foundational entity of the network, incorporates anonymous credentials and incentives into its structure and function.

Operators are paid, with the potential for transactions to be shielded, while operator privacy is managed via Nym credentials. Nym Technologies SA acknowledges several anonymous sets, a significant user base, and link privacy. Building on models like the second-generation onion router (in the style of Tor), it attracts a broad range of users each day. Users are classified into different types within the network, with measures in place to defend against various attacks, employing gateway protection and obfuscation tools.

Tokens, whose quantity reduces over time, are utilized to encourage the offering of privacy services. The network employs a blockchain as a broadcast channel in an effort to create a more secure Internet environment. Nym enables a host of privacy-enriched applications, permitting secure private economic transactions and compatibility with other blockchains. Besides privacy services, Nym Technologies SA utilizes decentralized credentials and emphasizes usability and access. Countermeasures against misbehavior and Sybil attacks are in place to maintain the security of its operation and avoid network surveillance and data leakage.

The Vision and Mission Behind NYM

NYM is a token that establishes an infrastructure supporting users to maintain control over their own data. It aids users in protecting their privacy and taking part in pseudonymous interactions through mix-nodes. These mix-nodes let users join their network traffic with others', assisting in obfuscating their digital footprints. The network gives user benefits through its native token, utilizing a strategy known as proof-of-mixing. NYM applies Sphinx packets for conversation, enabling metadata-free exchanges. The application of decentralized units plays a part in maintaining the infrastructure's resistant nature to surveillance. The token release schedule includes extended vesting periods, supporting the project's progression. NYM aims for unity among privacy communities, facilitates engagement between different blockchain systems and encourages the sharing of developments.

How to Buy and Store NYM?

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Using Flooz self-custodial web wallet, you ensure seamless NYM transactions. The web wallet allows you to store, send, and receive tokens conveniently. Creating a self-custodial wallet directly on Flooz takes just a few seconds using your email, Google, or Apple ID. This ensures that you have access to your funds at all times, thanks to the power of cryptography.

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NYM Metrics:

• Current price: $0.1093

• Market cap: $87.94 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $1.29 k