VPN Provider Privatix Announces Pre-ICO to Create Biggest Idle Bandwidth Marketplace

| Updated
by Andy Watson · 3 min read
VPN Provider Privatix Announces Pre-ICO to Create Biggest Idle Bandwidth Marketplace
Photo: Privatix / Facebook

Privatix, the first Internet bandwidth marketplace powered by a P2P VPN Network on Blockchain, wants your bandwidth. And will pay for it.

Privatix wants to make the biggest idle bandwidth marketplace, using people’s bandwidth connections when they aren’t being used. The idea is that, when people are at work, at school, asleep, and so on, their bandwidth is just there, available, but not in use. The same can be true with businesses and Internet hosting services, as well as normal household users.

Privatix has 750,000 users, and their temp email service, Temp-Mail, has 250,000 daily visitors daily. The company wants to build a decentralized P2P VPN on Blockchain, and hopes to change the industry.

Utilizing the Blockchain Technology

VPN  can be used to access content that’s unavailable or restricted in certain countries. Other uses can be to gain more security over Internet connections, or to be able to download torrents or magnet links.

Centralized VPNs can be detected by DPI-based blockers, such as the Great Firewall of China. Privatix uses a DPI-free protocol,  which makes the VPN more invisible. Apps can also use this software for anti-censorship solutions, and to implement monetization. The Mobile Software Development Kit designed by Privatix, integrates into apps to bring about such features.

Dima Rusakov, CEO of VPN provider Privatix Limited, says that crucial issues for the VPN market, such as affordability, services which don’t sell user data, and services which provide actual anonymity are ones which need to be addressed immediately.

Blockchain-based P2P VPNs can host services to sell unused server capacity. This can have a knock-on effect of attracting bigger players and expanding the marketplace.

The PRIX Crypto Token

The marketplace of Privatix will operate using PRIX, a crypto token to be exchanged between agents who sell the bandwidth, and clients who purchase and use the bandwidth, according to the company’s whitepaper. The more demand for bandwidth there is, the higher the value of PRIX. The more supply of bandwidth available, the better off the clients are. Any misuse of capacity on exit nodes will be dealt with by Privatix, so that agents don’t have to get involved.

Privatix Going Forward

The Privatix team hail from Israel, Ukraine, Russia and Kazakhstan. They’re tech minded, even the entrepreneurs. The pre-ICO is September 14 and aims to sell three percent of the PRIX. The company will give a 60 percent bonus with each purchased PRIX, so buyers get 1.6 PRIX for each 1 PRIX bought at this time.

The Privatix ICO starts Oct. 19, for four weeks. Seven percent of the tokens are reserved for employees and founders who will keep them for one year, ensuring dedication to the project. After the ICO, Privatix will make cross-platform software and the Privatix Network, which will be released in 2019 in the second quarter. By the end of 2020, the company will introduce a developed CDN based on the Privatix Network.

Blockchain News, News, Token Sales
Andy Watson
Author Andy Watson

Please check out latest news, expert comments and industry insights from Coinspeaker's contributors.

Related Articles