Mysterium Network February Update

We’ve got some amazing news.

Let’s start with Team

We have been searching for tech people to join us and our search was fruitful. Before this — we were a team of 2 and in February we doubled to 4, so meet:

  • Ričardas, I’ve never seen anyone as deeply embedded into computer networks as is Ričardas, he was building & designing networks for forever and was instantly excited to hear about Mysterium, which to him became an interesting challenge to take on. Ričardas already knew Ethereum very closely, he built couple of miners just to heat up home a bit :) Today Ričardas is doing RnD, working on our whitepaper — designing and testing technical limitations in preparation to create Mysterium Network protocol. There’s much progress made (in my next blog post I’ll introduce our proposed Roadmap);
  • Valdas, he is a different kind of “beast”— a wizard of the code. He has been coding all his life and Mysterium network is an interesting challenge for him as well. Valdas is working with Paulius on our MVP and later they will continue to work on the actual product. I have known Valdas personally and professionally — he was the first person of whom I thought when I was searching for a developer for mysterium client side app. Happy he agreed to join us.

Putting together a strong team was crucial, if we are to have any chance of success. Needles to say — I was very focused on solving this first. I believe we are in a great position teamwise now, so I can start to concentrate on other aspects a lot more as our team digs into technical aspects.

Technical Roadmap

As I just mentioned — Ričardas is proof-testing possibilities for the end product and together we are working on a technical Roadmap — how to get there.

We already have Essential elements, but I don’t want to jump the gun revealing them too soon — as we are doing final checks for certain elements of it. This eventually will become part of our whitepaper.

For today I can tell you that according to all our research — Decentralized VPN as we described it is completely possible and on the way towards it we see 5 evolutionary stages, which make up 2 larger phases.

As this topic deserves a completely separate post, I promise to deliver a full coverage within few day window.

MVP

There’s been great progress made towards a working MVP. Nothing to show yet, but I can briefly tell you what we are working on:

  • Building CORE — a server acting as node discovery and accounting mechanism;
  • Creating an API for entry and exit nodes to connect to CORE
  • Creating an exit node (a downloadable client)

Legal

This is biggie and is by no means a solved one yet…

We have done many smaller and bigger things in preparation:

  • talked to some of you about best approaches to take during our ICO,
  • Been talking to various entities willing to help,
  • researched other ICO’s,
  • we even met Bank of Lithuania — seeking for answers.

One clear message is this: there is no definite answer on “how to best structure ICO” from a legal stand point. Yes — there are quite a few exercised “practices”, but it’s way too early to call them “best practices” — as there has not been a single precedent, of regulation stepping in(not that we know of). Yet many believe it’s just a matter of time.

There is a lot more work to be done on this front. Off course some say — just copy what has been achieved by other projects like recently successful ICO of MelonPort or Golem Network. Off course we can always do that, but with every new ICO, there is some new angle, new approach, new layer of security applied, every new ICO pushes the boundary one step forward to broaden community benefits. I feel we must do our part now in pushing this forward.

Goals for March

  • Web content (Video explainer, web design and logo, bounty program, ..): 60–70% complete,
  • Legal framework: 50–60% complete,
  • MVP: 60-70% complete,
  • Whitepaper: 60-70% complete.

Close future..

While researching and creating basis for protocol of decentralized VPN Ričardas has uncovered something much deeper which we didn’t foresee beforehand. We believe this to be a good thing and I will present it in detail during my next post (few days from now).

That sums up our monthly review, as always — your feedback is greatly welcome: just comment here or join our Slack and catch me there..