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Privacy Technology Firm Nym Plans Early 2024 Rollout of 'Decentralized VPN'

The privacy-focused infrastructure project says that the new NymVPN will disperse traffic across a network of nodes rather than running data through single servers as centralized VPNs do.

By Bradley Keoun
AccessTimeIconNov 2, 2023 at 2:00 p.m. UTC
Nym co-founder and CEO Harry Halpin (Nym)
Nym co-founder and CEO Harry Halpin (Nym)
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Nym Technologies, a privacy infrastructure project backed by Binance Labs and the venture capital firm Andreessen Horowitz (a16z), said its "decentralized VPN" called NymVPN would launch in the first quarter of 2024.

"This brings together a decentralized VPN and a mixnet on the same network to offer users the highest level of privacy and security for all their online activities," according to a press release. "Unlike centralized VPNs, which funnel all your data through a single server, the NymVPN disperses your traffic across a network of nodes."

According to the release, NymVPN works atop a decentralized network of relay nodes run by individuals without a central authority, thus reducing the risk of data misuse and surveillance.

Last month, Nym Technologies announced it had raised $300 million for a Nym Innovation Fund, which will support projects looking to safeguard privacy in the crypto ecosystem. Investors in the fund included Polychain, KR1, Huobi Incubator and Eden Block.

Edited by Aoyon Ashraf.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Bradley Keoun
Bradley Keoun

Bradley Keoun is the managing editor of CoinDesk's Tech & Protocols team. He owns less than $1,000 each of several cryptocurrencies.

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