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Author Topic: Privacy Startup Nym Will Pay You in Bitcoin to Run Its Mixnet  (Read 92 times)
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September 11, 2020, 07:37:35 AM
Merited by pawanjain (1)
 #1

https://www.coindesk.com/privacy-nym-pay-bitcoin-mixnet
Incentives paid in bitcoin
Nym has largely been focusing on its testnet, with node operators hosting them as a labor of love. Now, Nym will compensate operators using bitcoin. One way it offers rewards is through L-BTC on the Liquid sidechain using the Blockstream Green wallet. Liquid offers on-chain privacy using confidential transactions, which obscure the amounts being paid. For those who don’t have or want a Blockstream Green wallet, Nym will reward operators with BTC because Nym doesn’t want to force anyone to adopt a particular wallet. It will also be launching an incentivized bounty program to test the network’s strength.

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September 11, 2020, 08:32:35 AM
 #2

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A mix network or “mixnet,” on the other hand, (taking its name from the proxy servers it employs, called “mixes”) obscures the metadata left behind when data passes through a network.

Mainly they are going to employee mixing strategy to mix up the data which would make it untraceable for the attackers and the government alike.

They are going to pay the people they are involved with running their nodes in so called L-BTC. Other than that a bounty program is on the way. Not only that : they are focusing on a reputation system too.

I do think mixnet would solve the problem of privacy on many levels alike but at the same time it can be taken negatively by the government therefore inhibiting the success rate.
{Every time I see something on Amazon or some other site , it keeps popping up everywhere and now they have made it harder for the users to take an account of privacy when every site demands allow cookies}

We are being tracked by every site out there' we do need this undoubtedly.

It can be used even by people who would use privacy to do some illegal things thus making it harder for the agencies to track.

Mixnet is a good concept and much needed too, but I do think : We need strategy to filter out the negative side of the same story.

Good thing is : you can run the node and get paid in Bitcoins~~

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September 11, 2020, 08:41:14 AM
 #3

I'm not sure that payments will be high, but it's a great way to promote this startup.
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September 11, 2020, 08:47:24 AM
 #4

Quote
I'm not sure that payments will be high, but it's a great way to promote this startup.

The payments will not be that high for the testnet, but still it is a way to get people on the testnet.


Here is a video of sending bitcoin over the mixnet testnet:
https://www.youtube.com/watch?v=Jt3-hKnZe20

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● OVER 1000000000 REKT PLEBS
● DAILY PARLAYS, ACCAS, SINGLES AND BOASTING
● BONUS HUNTING & VIP PICKS
● 24/7 LIVE TROLL BOX
● SCAM TOUTS ROASTED LIVE
 
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September 11, 2020, 01:41:49 PM
 #5

This is a good way to encourage the community to take action. I hope this works.
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September 11, 2020, 02:48:18 PM
 #6

https://www.coindesk.com/privacy-nym-pay-bitcoin-mixnet
Incentives paid in bitcoin
Nym has largely been focusing on its testnet, with node operators hosting them as a labor of love. Now, Nym will compensate operators using bitcoin. One way it offers rewards is through L-BTC on the Liquid sidechain using the Blockstream Green wallet. Liquid offers on-chain privacy using confidential transactions, which obscure the amounts being paid. For those who don’t have or want a Blockstream Green wallet, Nym will reward operators with BTC because Nym doesn’t want to force anyone to adopt a particular wallet. It will also be launching an incentivized bounty program to test the network’s strength.
Thanks for sharing this post. I didn't knew such a thing existed. I found it pretty cool. Although the concept is little similar to TOR they are conveying it as a step forward. This will be on my watchlist from now.

Also, for people who are interested in the bitcoin incentives NYM are offering should know that they have already received the 100 nodes they wanted.
No more nodes will be accepted to receive bitcoin rewards. But they are offering NYMPH tokens for people who are still willing to setup a node on their testnet and these people might get considered to receive the BTC rewards in the next round of their incentive program.

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September 11, 2020, 03:24:38 PM
 #7

Nym is an interesting project, but last I read they were incentivizing users to run their nodes and mixnet by paying them in tokens:
Nym uses token-based incentives to provide the foundations for a sustainable ecosystem of privacy-enhanced services

It seems this latest round of bitcoin incentives is only for their testnet. Once they launch their main services, I would imagine they will again be compensating people in their native token - I don't see how they would have enough income otherwise to continue to pay all node operators in bitcoin. (As long as they don't go they way of the last big crypto privacy project - Brave - and sell out their principles and all their users for their own profits.)

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