NYM TOKEN: The hope for data protection in the digitized age

NYM TOKEN: The hope for data protection in the digitized age

In a world that is strongly influenced by digitization, the need for improved data protection on the Internet is of the utmost importance. Nym, a groundbreaking mixer, has turned out to be a hope and offers effective protection of privacy for everyday users by encrypting and mixing internet traffic. The heart of this revolutionary mixnet is the Nym Token, an integral part of the network and cross-chain functionality of the network.

The Nym Token are the native utility tokens of the Nym, a decentralized network that protects the privacy of users by wearing internet traffic. They are the backbone of the mixnet and perform several tasks: they give users access to mix, measure the reputation of the nodes and reward the operators of the data protection infrastructure. The total amount of the token is limited to 1 billion units and is gradually released.

The NYX blockchain is a layer 1 blockchain based on the Cosmos SDK and forms the basis for the smart contracts that regulate the node topology, staking and reward nodes as well as the peer-to-peer transactions of the mixnet. The NYX blockchain, written in Rust and compiled in webassembly, ensures seamless and safe protection of the privacy of users.

The team behind the NYM TOKEN publishes quarterly TOKENOMICS updates to adapt to the developing dynamics of the network. The more tokens in circulation, the more the Mixnet the Tokenomics parameters change, which particularly affects the saturation points for the mix nodes. This regular update mechanism ensures a robust and adaptable network that offers first-class data protection services.

In order to enable broader access, the NYM TOKEN are saved on both the NYX Cosmos Chain and on the Ethereum Chain. The permission-free Gravity Bridge, a Cosmos own blockchain, plays a central role in the seamless bridging of assets between the ecosystems of Ethereum and Cosmos. The functionality of Gravity Bridge is based on gravity.sol, a solidity contract that enables the handling and release of funds on the Ethereum side. This contract is checked transparently by three independent teams and cannot be changed so that a safe and trustworthy bridge for cross-chain transactions is created.

The Gravity Bridge enables the seamless transfer of Nym Token between the NYX Cosmos Chain and Ethereum Chain. Users can convert native NYM TOKEN into ERC-20 NYM TOKEN and vice versa by interacting with the gravity.sol contract. As a result, the circulation of the cryptocurrency remains constant across all chains, with a maximum of 1 billion tokens in circulation at all times.