Introduction:
The Nym mixnet is a cutting-edge privacy-focused network architecture built upon the foundation of Loopix. This article provides an in-depth exploration of the Nym mixnet’s architecture, core mechanisms, design principles, and distinctive properties that contribute to network-level privacy.
Mixnet Structure and Source-Routed Decryption:
Nym employs a layered mixnet topology, organized as layers of mix nodes. This structure allows for scalability by simply adding mix nodes to existing layers while enhancing privacy by introducing additional layers. The mixnet utilizes source-routed decryption, enabling users to choose the route of their messages before reaching the final destination. Users obtain mix node public keys and contact information from the Nym blockchain, ensuring a decentralized and secure source for node details.
Gateways for Enhanced Reliability:
Gateways serve as nodes connecting users and services to the mixnet, improving message reliability and accessibility. Even when users are intermittently offline, gateways facilitate sending and receiving messages seamlessly.

Users and services communicating privately through gateways and mixnet with 3 layers of nodes
Sphinx Packet Format:
Nym employs the Sphinx packet format to encapsulate and anonymously route data payloads. Messages undergo multiple layers of encryption, with the complete packet encrypted with a key shared with the gateway. Upon receiving a Sphinx message, a mix node decrypts and transforms the message cryptographically before forwarding it to the next hop.

Sphinx packet format
Single Use Reply Blocks (SURBs):
The mixnet incorporates Single Use Reply Blocks (SURBs) to enable anonymous replies and reliable transport. SURBs are pre-computed Sphinx packet headers, allowing recipients to send back anonymous replies that reach the original sender. This feature enhances the mixnet’s functionality and addresses the historical challenge of reliable transport in mixnets.
Layered Mixnet Topology:
Nym’s layered mixnet topology facilitates scalability and privacy. Mix node membership and mixnet parameters are updated per epoch, with decentralized algorithms ensuring a balanced and secure distribution of nodes across layers. Adversarial compromises are mitigated through randomized allocation and layered routing, making it challenging for attackers to deanonymize messages.
Gateways and Their Role:
Gateways play a crucial role in mediating access to the Nym network, collecting bandwidth credentials, and limiting traffic to credential allowances. They ensure participants’ accountability and protect the mixnet from free riders. Participants can use a single gateway or distribute their traffic among multiple gateways, enhancing flexibility.
Continuous-Time Mixes and Exponential Delays:
Nym utilizes continuous-time mix nodes with exponentially chosen delays, offering optimal anonymity properties. This mixing strategy reorders messages independently, providing a high level of privacy while efficiently utilizing bandwidth compared to batch mixing strategies.
Anonymous Replies and Reliable Transport with SURBs:
SURBs contribute to the mixnet’s versatility, enabling reliable transport and anonymous replies. The inclusion of SURBs in Sphinx messages allows senders to receive acknowledgments, enhancing the overall reliability of the mixnet.
Unobservability via Loops of Cover Traffic:
Nym integrates loops of cover traffic to guarantee a minimum level of anonymity and unobservability. Participants generate dummy messages that circulate in loops, disguising real traffic patterns and preventing adversaries from inferring private information.
Mixnet Epochs for Regular Reconfiguration:
Epochs are intervals at which the Nym mixnet undergoes regular reconfiguration. This ensures forward security, recovery from node failures, and the addition of new nodes. The choice of epoch duration involves trade-offs between security, overhead, and anonymity set disjointness.
Latency, Bandwidth, Scalability, and Privacy:
Nym’s continuous-time mix nodes allow for flexibility in accommodating different latency constraints, striking a balance between bandwidth consumption and privacy. Scalability is achieved through a layered mixnet topology, supporting millions of users and applications with diverse latency requirements.
Conclusion:
The Nym mixnet stands as a robust and flexible network-level privacy solution, offering a comprehensive set of features to ensure anonymity, reliability, and scalability. Its innovative design choices and mechanisms make it a promising platform for secure and private communication in an increasingly interconnected digital landscape.
#Nym #Privacy #BinanceSquareInsight #BinanceCommunity #BinanceSquareTalks

What was it like. Bitcoin was in the $15,000 - $17,000 range and over 80% of all analysts were saying a move into the $10,000 - $12,000 area was imminent. There was a high level of fear in the market. What is the situation now? Let's try to reflect on the outlook for 2024.
▫️ Sentiment. News feeds are littered with posts like "2024 will make you rich", "bitcoin is in the early stages of a bull cycle", etc. The mood of 90% of the audience is approximately as follows: "a slight correction is acceptable, but overall only growth is expected". It is necessary to realize that the crowd's expectations have already come true twice. The first time on the Uptober trend, the second time on the "Santa rally". The next crowd expectation is for growth on the Halving.
▫️ Institutionals & ETFs. ETF adoption is probably the only infomercial on which the market is currently being hyped. The problem is that no one is writing about the true reasons for the rejections. The SEC rejected both 2022 (https://www.federalregister.gov/d/2022-01384/p-77) and 2023 (https://www.sec.gov/Archives/edgar/data/1588489/000119312523282341/d720350ds3a.htm) for identical reasons: non-transparency of stablecoins, insider trading, illegal transactions, wash-trading, etc.
In an interview for Bloomberg, Gary Gensler clearly points out that the crypto market is still small for the trijeris market, it lacks compliance, lacks necessary laws and at the end added: "The SEC reviews all filings as they are made in the normal course of business whether they are from cryptocurrency companies or not."
▫️ Blockchain, mining and centralization. Having done the research, it is clear that miners are betting too high on the upcoming growth. The number of mining pools has tripled in recent years. Only two mining pools control (https://www.blockchain.com/explorer/charts/pools) 55% of bitcoin hashrate, meaning the level of centralization is very high.
There are more and more incidents of direct influence (https://twitter.com/WuBlockchain/status/1727320369521160491) of the regulator on bitcoin transactions, as well as cases with deliberate creation of erroneous blocks.
▫️ Technical Analysis. The whole year bitcoin has been moving in an ascending channel, the exit from which is usually downward. The asset also has one single clearly distinguishable extremum of $16,000. Since 2021 the price has been declining without breaking the LH&LL structure, followed by a month of sideways movement and growth without breaking the HL&HH structure. The simplification of the structure suggests that the catch is close. A consolidation under $37,000 will mean a false exit from the ascending channel.
Conclusions
Long expectations of that year were met. But there was a chain of events during this year, which indicate the end of the bull rally and the return of the price to $20,000. Even if a spot bitcoin-ETF is adopted, it will not lead to the results that are expected now. At least because history with ETF adoption has already been repeated in other countries at bitcoin above $62,000.
👍- if the review is informative
#bitcoinETF #BinanceWish #CryptoTrends2024 #BinanceSquareAnalysis #BinanceSquareInsight $BTC