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Privacy-centric firm Nym, backed by a16z and other investors, has launched its zero-knowledge powered payment system and introduced a perpetual token buyback model. The decentralized technology provider’s DePIN payments system and token buyback are now live for public testing. Specifically, NymVPN, first introduced in November 2023, will launch commercially on March 13, 2025. Ahead of the public rollout, users will have the opportunity to battle-test the payment mechanism,, the NymVPN team said in an announcement. When it goes live, subscribers will be able to pay in fiat such as euros and dollars, or in Bitcoin (BTC). The project also supports payments with the native NYM token. Nym will convert all fiat and crypto payments for NymVPN subscription to the native token NYM, with the perpetual buyback set to create a “flywheel” reflecting market demand. “The launch of NYM activated the supply-side of privacy and created a network of over a thousand nodes. Today we are activating the demand side, allowing ordinary users to pay in fiat and Bitcoin for NymVPN. Their payment is then converted to NYM token buy-orders to keep the network running,” the Nym CEO added. You might also like: Ondo Finance partners with Mastercard to bring tokenized Treasuries to MTN With global need for privacy solutions and VPN adoption on the rise amid increased security and censorship, Nym’s layer-0 network offers both the anonymity and safety users need. Meanwhile, buyback means subscriptions will help create consistent buy pressure for the NYM token. NYM, which launched in 2022, is a token designed to reward the Nym ecosystem’s mixnet node operators. According to Harry Halpin, chief executive officer of Nym, the token is key to the project’s goal of delivering a privacy-focused decentralized network. The launch of the DePIN payment system and the NYM token repurchases brings the project’s crypto-economics “full circle.” It allows NYM’s use in tokenization and in rewards, providing further incentive for the community. “Just like everyone should enjoy clean water and electricity, people deserve secure and private communication,” Jaya Brekke, chief strategy officer at Nym, said. “This is not speculative, but a growing real world need. And with the launch of the perpetual buyback mechanism, the token can shift out of a speculative promise to instead signal such real world demand.” You might also like: Nym partners with Zcash to bring network-layer privacy protections

Vitalik Buterin considers Poseidon hash function for upgraded zk-proofs He is advocating for extensive cryptanalysis to confirm Poseidon’s compliance with their security standards The Ethereum team has extended the application deadline for the Poseidon funding program to March 15, 2025, inviting researchers to contribute to the cryptanalysis and validation of the Poseidon hash function Ethereum co-founder Vitalik Buterin announced on X today that the Ethereum team is considering migrating to the Poseidon hash function. The goal is to make zero-knowledge proof systems (zk-provers) work better on the network. He stressed that it’s key to really understand Poseidon’s security before using it, and asked researchers to join the current Poseidon cryptanalysis program. The Ethereum team has moved the deadline for the program to March 15, 2025, and is inviting researchers from the International Association for Cryptologic Research (IACR) and the industry to apply. Potential Benefits of Poseidon Integration Integrating Poseidon could optimize Ethereum’s zk-prover operations, potentially leading to more efficient and scalable privacy-preserving applications … The post Ethereum Team Eyes Poseidon Migration to Boost Zero-Knowledge Proofs appeared first on Coin Edition.

NymVPN launched a perpetual token buyback mechanism that features a new working model for DePIN (Decentralized Physical Infrastructure Network) tokens. This effort enables anonymous access for users while simultaneously compensating those who provide the network’s services. Another Step Before the Final Launch According to a document shared with CryptoPotato, NymVPN is scheduled for a commercial launch on March 13. The project’s zero-knowledge payment system and the perpetual token buyback program are set to go live for public testing on February 26. The team behind the project has invited the community and general public to battle-test this novel payment mechanism and help kickstart the economic cycle of Nym DePIN. Decentralized Physical Infrastructure Network, for its part, is considered vital since it provides the layer-0 anonymity network, which is particularly needed across Web3. Commenting on the initiative was Harry Halpin – CEO of Nym: “We launched the NYM token in 2022 to reward mixnet node operators helping us build the world’s most decentralized and anonymous network. The launch of NYM activated the supply side of privacy and created a network of over a thousand nodes. Today, we are activating the demand side, allowing ordinary users to pay in fiat and Bitcoin for NymVPN. Their payment is then converted to NYM token buy-orders to keep the network running.” How Does the System Work? The market for VPNs was forecasted to reach roughly $500 billion by 2034. However, the vast majority of those networks have the necessary privacy protections. Nym’s DePIN model, however, offers a solution. According to the document, the buypack program supports two of NymVPN’s core features: zero-knowledge anonymous credentials (zk-nyms) and a token incentivized mix network of node operators. Via the mechanism, all fiat and crypto subscriptions to NymVPN will be converted to NYM tokens by default. This will establish a self-sustaining cycle that naturally reflects market demand for NymVPN’s services. Keep in mind that this approach is distinct and far more comprehensive than a typical token buyback, where a fixed amount of coins is repurchased from the market often to bolster company treasuries. Subscribers to the mechanism need to possess NYM tokens themselves or pay in crypto. Subscriptions can be purchased using fiat currency like euros and dollars, as well as in Bitcoin or directly in NYM coins. “Just like everyone should enjoy clean water and electricity, people deserve secure and private communication. This is not speculative, but a growing real-world need. And with the launch of the perpetual buyback mechanism, the token can shift out of a speculative promise to instead signal such real-world demand,” Jaya Brekke, Nym’s Chief Strategy Offer, stated. The post NymVPN Introduces a Perpetual Token Buyback Mechanism as the Network Goes Live for Public Testing appeared first on CryptoPotato.

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