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Nym for Android is out
(github.com)
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this post was submitted on 25 Jun 2023
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Technology
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I can't help but being sceptical that this is based on a cryptocurrency. There are some good ideas in nym, but I'll stick with Tor for now.
Same, last thing I'd want is something tracking when I'm running a node. Seems like a waste of time when they had good ideas without the crypto.
I have been observing Nym since its inception, I personally feel they are doing a good work and they have very good intentions. They need -unsurprisingly- more time.
As for the cryptocurrency, I personally feel it's a good way for developers to monetize and organize payment structures in a decentralized way. The best intentions to establish a decentralized system are worth nothing in the end if you depend on a centralized payment processor such as a bank or big tech. Unfortunately they haven't yet released a paper to dig a bit deeper, but I am very much looking forward to it.
Crypto is a great way to organize payment but the system they're using here is massively inflationary seeing as it is a reward token.
So really, it's a very poor way to organize payments because the nodes are constantly devaluing whatever amount of their currency you purchased or were rewarded.
I'm not an economic major or anything so this is just opinion but it doesn't make sense to me.