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Mysterium (MYST): What is Mysterium and Why Should You Care?

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MYST

Mysterium, otherwise known as MYST, is one of those “small” currencies that are still available for mass investments. This is the case because MYST is still at a price under a dollar, so many people can afford to buy more than only several units of this digital coin.

But before investing in any digital currency, you must first dig deep into the idea behind the coin and determine whether you are placing a smart investment or just throwing your money away.

So, we are answering the question: What is Mysterium and Why Should You Care, to help you decide whether MYST is any good.

What is Mysterium?

Mysterium is a cryptocurrency based on Mysterium Network that represents its decentralized ecosystem. Mysterium is much like many other coins as it operates as a decentralized ecosystem and has its platform, but there is something that makes it stand out from the crowd.

Mysterium is working based on peer-to-peer protocol, within a blockchain based decentralized network, but it works on VPN nodes that have no server – that is how you can access a serverless VPN without centralization and take advantage of a decentralized environment.

The decentralized serverless VPN works powered by nodes and connect users or a user to a device that resembles a router. The coin is a part of Mystery Company that has a market capitalization of over 10 million dollars.

The idea behind this coin is not focused on any market – gambling industry, science or games, and apps – MYST is not interested in supporting any of those sectors. This coin is made to help more secure internet usage. Besides from working on establishing entirely private internet usage, this company also focuses on providing members of Mysterium with an internet connection that is solid and stable, as not all people have established fast internet connection or connection at all.

Not many people are “blessed” with a reliable internet connection, so this open-source platform is working in favor of providing internet connection for those who need it. This is just done by having all members sharing their unused network traffic.

The unused network traffic is being distributed by having it traded from one user to another, and all trades can be made with using MYST tokens that are available for purchase on Bittrex and several other trading platforms.

You can quickly put your unused network traffic for rent, and other members can rent it and pay you with MYST that you can later trade with or keep in your Wallet.

So, Mysterium network represents a serverless network of VPN running on nodes, running on Blockchain technology that allows anyone to join as a customer or as a seller and rent unused network traffic and decentralized VPN. It runs on smart contracts like Ethereum, peer-to-peer protocol and blockchain technology, cleverly designed to represent a large decentralized serverless VPN that enables trading and renting with micro-payments that are safe, secure and faster than the traditional way of making payments.

The platform also has a cause in making the internet a lot safer place to keep your info and data safe. That means that keeping illegal documents or confidential data would also be enabled, which poses a question of whether is it moral to keep illegal data safe and encrypted.

But, regardless of keeping illegal or Darkweb-related data safe and untraceable, having a way of keeping your online info wholly safe and secure is the best feature this platform has to offer. In case MYST keeps up with good work, it may soon become one of the most needed decentralized platforms based on blockchain technology.

Is MYST Worth It?

In the mid-January, MYST was keeping up with expectations posed for all cryptocurrencies being traded in 2018. It was predicted that almost every digital coin would reach its peak or reach their all-time high in 2018 and Mysterium was doing well and by expectations for some time. Around January 12th, MYST had a benevolent change in price which led to an increase, leading to an initial price of 3.21$ per one MYST coin.

But, there came a fall, and after being traded as high as 4$ per one unit, MYST experienced a decrease of over 37%, leading to a price of 0.6$ per one unit.

What on Earth happened here?

Everyone is wondering how come a coin that traded at 4$ per one unit managed to decrease so rapidly to trading below one dollar in less than 20 days. But, we all learned that investing in digital coins can sometimes be rocky and turbulent as the market can never be stable enough to persuade you into believing your coin of choice is untouchable.

So, many investors lost a lot of money by investing in MYST, but those that remained with an appreciation for this serverless VPN network are hoping for the best. With the latest decrease of a bit over 6% in the last 24 hours on January 31st, 2018, holders and investors are probably eager to see at least a minor percentage of increase with the beginning of February.

What will happen next?

It is yet uncertain with constant decreases, so we’ll probably have to wait and see what will come next for MYST.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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