Nym to Participate in Berlin Blockchain Week in Berlin

Nym is set to participate in the upcoming Berlin Blockchain Week, taking place in Berlin on May 23rd. The event, which is being organized by Lens Protocol, will feature a line-up of notable figures in the blockchain industry, including Nym’s chief srategy officer, Jaya Klara Brekke.

Refer to the official tweet by NYM:

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.