With all the ICOs that have occurred this year, I'm starting to get more and more sceptical about the actual value behind a lot of these "products" and what the actual state of play is for their technology. Mysterium is launching its ICO tomorrow.
I've bought into a couple of select ICOs this year, but I can't help but feel that my money would have performed better if I just left it in ETH. Mysterium is looking to capitalise on both the VPN and ICO craze by launching a decentralised VPN service (similar to TOR) that rewards nodes with MYST tokens. They aim to provide fast speeds through volunteer nodes and cheap prices as nodes compete against each other.
My issues with the service are that VPNs are actually quite fast and cheap and easy to sign use and understand. There doesn't seem to be any added security with Mysterium and perhaps even less security as the exit node could be targeted similar to TOR. Speeds are also heavily dependant on the nodes (which are just everyday users).
In addition, they are yet to outline how the token will add value to the holder. There was also a "pre-sale" prior to this ICO which raised 500K in December 2016.
In summary, my assessment is that this non-English speaking group are trying to cash in on the ICO craze to raise money for a product that is ok, but not great. I don't see a value in the service and I definitely don't see a mass adoption which is crucial in the success of the decentralised VPN.
Token Value is hard to understand, what will I receive for buying tokens?
I have issues about the security of the nodes and the data moving through them.
Speed of the network will be an enduring issue as well, as everyday users share their bandwidth. A centralised VPN that keeps no logs and has a dedicated fast server seems as if it will perform far better. The prices on these services are not that expensive either.
Let me know if I'm completely wrong though... I'm always open to criticism and I don't want to miss "the next big thing!".
