Nym Partners With Aleo
Nym has partnered with Aleo, a leading company in privacy-focused blockchain. Leo Wallet will support this partnership. The collaboration will utilize Aleo’s blockchain in conjunction with Nym’s mixnet.
Refer to the official tweet by NYM:
Nym@nymprojectApr 25, 20241/4 🌐 Nym is thrilled to announce a partnership with @AleoHQ, leader in privacy-focused blockchain, supported by @theLeoWallet!
🚀 The integration will leverage Aleo’s blockchain with Nym’s mixnet, enhancing privacy for online interactions and on-chain transactions. pic.twitter.com/LLBbw4uXDc
NYM Info
Users employ NYM tokens to gain access to the mixnet, consequently improving the privacy of their data. NYM is also used as a reward for mix nodes in exchange for their services in traffic mixing and privacy assurance for Nym network users.
Fees accumulated in NYM are directed to a reward pool and later distributed amongst mix nodes, based on their performance and reputation. Each mix node's reputation is quantified in NYM tokens.
Moreover, users have the option to delegate their NYM tokens to mix nodes. This action serves as a validation of a mix node's reputation and grants the user a portion of the mix node's rewards. Users are encouraged to delegate their NYM to nodes that consistently deliver quality services as it increases their likelihood of earning rewards.
However, it should be noted that NYM is not a general-purpose payment mechanism or a typical cryptocurrency, such as Bitcoin. Its utilization is exclusively intended for activities within the Nym network.