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