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Privacy Technology Firm Nym Plans Early 2024 Rollout of 'Decentralized VPN'
The privacy-focused infrastructure project says that the new NymVPN will disperse traffic across a network of nodes rather than running data through single servers as centralized VPNs do.
Nym Technologies, a privacy infrastructure project backed by Binance Labs and the venture capital firm Andreessen Horowitz (a16z), said its "decentralized VPN" called NymVPN would launch in the first quarter of 2024.
"This brings together a decentralized VPN and a mixnet on the same network to offer users the highest level of privacy and security for all their online activities," according to a press release. "Unlike centralized VPNs, which funnel all your data through a single server, the NymVPN disperses your traffic across a network of nodes."
STORY CONTINUES BELOW
According to the release, NymVPN works atop a decentralized network of relay nodes run by individuals without a central authority, thus reducing the risk of data misuse and surveillance.
Last month, Nym Technologies announced it had raised $300 million for a Nym Innovation Fund, which will support projects looking to safeguard privacy in the crypto ecosystem. Investors in the fund included Polychain, KR1, Huobi Incubator and Eden Block.
Bradley Keoun
Bradley Keoun is CoinDesk's managing editor of tech & protocols, where he oversees a team of reporters covering blockchain technology, and previously ran the global crypto markets team. A two-time Loeb Awards finalist, he previously was chief global finance and economic correspondent for TheStreet and before that worked as an editor and reporter for Bloomberg News in New York and Mexico City, reporting on Wall Street, emerging markets and the energy industry. He started out as a police-beat reporter for the Gainesville Sun in Florida and later worked as a general-assignment reporter for the Chicago Tribune. Originally from Fort Wayne, Indiana, he double-majored in electrical engineering and classical studies as an undergraduate at Duke University and later obtained a master's in journalism from the University of Florida. He is currently based in Austin, Texas, and in his spare time plays guitar, sings in a choir and hikes in the Texas Hill Country. He owns less than $1,000 each of several cryptocurrencies.
