{"id":53075,"date":"2021-11-18T09:12:16","date_gmt":"2021-11-18T07:12:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53075"},"modified":"2025-09-03T13:13:28","modified_gmt":"2025-09-03T10:13:28","slug":"nym-technologies-raises-13-million-to-develop-a-private-internet-on-the-blockchain","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nym-technologies-raises-13-million-to-develop-a-private-internet-on-the-blockchain\/","title":{"rendered":"Nym Technologies raises $13 million to develop a private internet on the blockchain"},"content":{"rendered":"<p>The Swiss startup Nym Technologies, which is building a mixnet-based privacy-preserving mesh over the blockchain, closed a Series A funding round of $13 million with a valuation of $270 million. It was led by a16z.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;Nym\u2019s latest round signals the growing interest in privacy preserving technologies, no longer a niche avail of the paranoid and the criminal. <br \/>And the world at large is paying attention.&#8221;<a href=\"https:\/\/twitter.com\/hashtag\/Nym?src=hash&#038;ref_src=twsrc%5Etfw\">#Nym<\/a><a href=\"https:\/\/twitter.com\/hashtag\/NextGenPrivacy?src=hash&#038;ref_src=twsrc%5Etfw\">#NextGenPrivacy<\/a><\/p>\n<p>Forbes reports:<a href=\"https:\/\/t.co\/lGpFrB6WJX\">https:\/\/t.co\/lGpFrB6WJX<\/a><\/p>\n<p>\u2014 Nym (@nymproject) <a href=\"https:\/\/twitter.com\/nymproject\/status\/1460947076469112834?ref_src=twsrc%5Etfw\">November 17, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Funding was also provided by Digital Currency Group&#8217;s Barry Silbert, Tayssir Capital, Huobi Ventures, HashKey, Fenbushi Capital, as well as a number of unnamed node operators responsible for validating transactions on the startup&#8217;s network.<\/p>\n<p>Nym is a decentralized, open-source public privacy system. The network&#8217;s nodes, which developers call the mixnet, &#8220;mix&#8221; user traffic, excluding metadata disclosure. For this they receive rewards in the native NYM tokens.<\/p>\n<p>If necessary, nodes can inject dummy data packets so that third parties have difficulty decoding the information. According to Nym&#8217;s CEO, Harry Halpin, such a &#8216;network-level privacy&#8217; approach, as opposed to VPNs or the Tor network, could defeat even mass government surveillance.<\/p>\n<p>According to Forbes, the latest round signals growing interest in privacy-preserving technologies that are no longer the preserve of paranoids and criminals. The world has taken notice.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cEncryption today is becoming an incredibly important component of the Internet. Nym provides privacy at the most basic level as a foundation for other private solutions,\u201d<\/em> said Ali Yahya, a16z general partner.<\/p>\n<\/blockquote>\n<p>Halpin recommends using the Tor network, but is convinced that Nym is better suited for Bitcoin and layer-two solutions. He expects that in the long term the technology developed by the startup will be integrated with <a href=\"https:\/\/u1f987.com\/en\/news\/lightning-network-faster-cheaper-bitcoin-transactions\">Lightning Network<\/a>.<\/p>\n<p>It is expected that the Nym network, comprising around 5,000 nodes and 30 validators, will launch mainnet by year-end.<\/p>\n<p>Previously the team released a wallet for node operators. With it, operators can stake tokens to join the network, earn reputation and NYM depending on the volume and quality of traffic mixing.<\/p>\n<p>Earlier in August, WikiLeaks informant Chelsea Manning joined Nym as a security consultant.<\/p>\n<p> Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Swiss startup, Nym Technologies, developing a mixnet on the blockchain with privacy by default, closed a Series A funding round of $13 million at a $270 million valuation. It was led by a16z.<\/p>\n","protected":false},"author":1,"featured_media":53076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[848,1938,1256],"class_list":["post-53075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-andreessen-horowitz","tag-nym-technologies","tag-privacy-and-personal-data"],"aioseo_notices":[],"amp_enabled":true,"views":"54","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53075"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53075\/revisions"}],"predecessor-version":[{"id":53077,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53075\/revisions\/53077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53076"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}