Mysterium Network (MYST) Crypto Review: Decentralized VPN
Mysterium network (MYST): Decentralization will be massive in 2018, and as many of you know I am a huge believer in decentralized authority on the blockchain as it promotes a trustless system that is not easily controlled by certain parties with vested interests.
In today’s review, I will be covering the Mysterium Network it is an ERC-20 based token (MYST) that aims to function as a decentralized VPN. I will be reviewing the investment potential of the Mysterium Network. Four key areas of the review that I will cover will be as follows:
* Introduction to Mysterium
*The Mysterium Team
* Marketing Strategy
* Investment Analysis
Mysterium Network (MYST) Cryptocurrency Review: Introduction
Mysterium is a decentralized VPN service that runs on the powerful Ethereum blockchain. Its native token allows users to implement activities within it’s VPN network service. MYST allows the user to function as a client or service provider (VPN Node) on the Mysterium Network.
Mysterium is listed on many exchanges but if you wish to purchase MYST tokens as an investment Changelly seems to be the most convenient. After buying the tokens, I store them in a wallet such as myetherwallet since MYST is an ER-20 based token.
The current market cap of the Mysterium Network is valued at $10,838,229, and it has a circulating supply of 19,429,024 tokens with a fixed total amount being 32,433,366 MYST.
The VPN industry as a whole is projected to multiply in the upcoming years, and by 2022 it will have an estimated 106 billion dollar market cap.
Mysterium Network (MYST) Crypto Review: The Team
The Mysterium Network team members are composed of five individuals and one advisor at the moment. There is not much information about the team, but given the type of service, they are planning to offer it’s not very surprising. They are also hiring at the moment which is often a good sign that the cryptocurrency is growing. Another good sign is that the developers are active on Github.
Mysterium Network (MYST) Crypto Review: Marketing Strategy
To be honest, there has hardly been any marketing being performed by the MYST team, and even when they were at Devcon 3, many people did not realize they would be speaking at the event. However, the team has recently committed to posting biweekly updates about the progress being made. For the most up to date information on Mysterium, you can visit their blog here.
According to the Mysterium whitepaper, they will not be conducting any heavy marketing until phase two of the project, and since we are still at phase one, this could be the reason why we so little marketing being done.
Investing in cryptocurrencies is scary enough so having an effective marketing strategy in place from the start is recommended.
Mysterium Network (MYST) Blockchain: Investment Analysis
I enjoy the concept of a decentralized VPN network, and the low market cap of this cryptocurrency could mean that if the project succeeds the valuation will skyrocket quickly. Unfortunately, this cryptocurrency suffers from a lack of updates from the team.
I believe MYST could do very well in the future, but the lack of communication is a turn off for investors. I would recommend holding off on investing significant sums of your hard earned cash until we have further clarity in regards to this project.
(As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.)