Nym is the next generation of cryptocurrency serving privacy
Existing internet protocols leak sensitive data that can be used without users knowledge.
Nym is developing the infrastructure to prevent this data leakage by protecting every packet’s metadata at the network and application layers.
Nym protects privacy at the network layer by encrypting and relaying your internet traffic through a multi-layered network called a mixnet.
In each layer of the mixnet, mix nodes mix your internet traffic with that of other users, making communications private and hiding your metadata (IP address, who you talk to, when and where, and more).
Nym can provide powerful network-level privacy for cryptocurrency transactions, e-mail, instant messaging, and any other message-based traffic.
Unlike Tor, Nym’s mixnet design guarantees network anonymity and resistance to surveillance, even in the face of adversaries capable of monitoring the entire network, by adding cover traffic and timing obfuscation.
The Nym mixnet is decentralized, rather than operated by a trusted provider like a VPN, as it uses blockchain technology and economic incentives to decentralize the network.
Nym node operators are incentivized to run nodes and provide good quality of service and uptime.
Software updates are governed through community adoption as decisions are made by the node operators and token holders.
Mixnodes are rewarded for mixing paquets. The reward is then shared every hour (epoch) between the delegators of the mixnode.
Annual percentage rate for delegators is around 40%
1. Get a nym wallet
Simply download and install the nym wallet software from https://nymtech.net/download/
Create a new wallet, save your mnemonic and find your wallet number (starts with an "n")
2. Buy nyms
The first step to become a delegator is to aquire nyms.
The easiest way to get nyms is to buy them on the kraken cryptocurrency exchange (kraken.com)
You will need to create an account and buy nyms using a credit / debit card or transfer cryptocurrencies to your account and trade them for nyms
3. Transfer nyms to your wallet
Once you have your nyms in kraken you can withdraw them to your nym wallet using your wallet number.
4. Delegate your nyms
After your nyms are displayed in your nym wallet you are ready to delegate.
Simply go to delegation on the bottom left of your nym wallet and click on Delegate
Copy & paste the following node identity key: D5LHPRKqP8Kavy4CZYrN6uuBsM1fXCNSkRkuYsdpwB7A
Enter the amount of nyms to delegate (always keep 1 nym in your wallet for transaction fees)
Click on Delegate stake and confirm.
5. Redeem or compound rewards
When rewards are given (every hour) you will see them in Delegation part of the nym wallet.
Here by clicking on the three vertical dots you can redeem (place in wallet) or compound (redelegate) your rewards.
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