What is Privatix Coin?
Privatix is a decentralized and autonomous peer-to-peer VPN network based on blockchain technology. The platform has its own cryptocurrency which Privatix Coin. It is an ERC20 token. The platform enables Internet users worldwide to cost effectively and efficiently with Internet bandwidth.
The Privatix Coin in numbers – as of 13.12.2017
The company’s market capital amounts to $ 2,012,522, with a daily trading volume of $ 18,957. There are currently around 1,182,668 Privatix Coin out of a total of 1,275,455 in circulation. According to the company’s white paper, the limit is a maximum of 10,000,000 coins. The company does not allow mining or other ways to increase the number of tokens. The crypto currency is ranked 506 in coinmarketcap.com’s token ranking.
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Who is behind the project of Privatix Coin?
Privatix is an established, profitable company with experienced developers from Russia and Israel. Another project of the development team was TempMail.org, an email service for spam filtering with more than 250,000 visitors per day.
Its founders include Dima Rusakov (CEO and Co-Founder), an entrepreneur from Israel who has developed businesses in his home country as well as in Russia, Ukraine and Kazakhstan. This includes the company 5vpn, a premium VPN service with 15,000 paying users.
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Other key members of the team include co-founder Nikita Kuznetsov, CTO of the company, and Rubtsov Dmitriy, who is responsible for operations and business development.
What are the goals of the company?
Privatix addresses several current issues simultaneously, which are the centralized marketplace for VPN services. Centralized VPNs are associated with numerous issues, such as logging policies, the handling of data sales, excessive fees, opaque billing policies, and huge profit margins. For the end user, this ultimately means that centralized VPNs do not adequately protect users’ privacy and data, although they still pay a high price for VPN services.
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In many countries, where users are denied access to certain pages due to censorship, such VPN services are needed to be able to move around freely on the net. However, these services are still vulnerable to the control of Internet service providers.
With Privatix, the development team wants to create a distributed and autonomous peer-to-peer VPN network on Blockchain with an advanced Internet broadband marketplace to provide security, cost efficiency and performance to Internet users around the world.
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How does the Privatix platform work?
As one would expect from a VPN marketplace, there are two groups of users on the Privatix platform. On the one hand, those who want to sell internet bandwidth are the “agents” and, on the other hand, the users who want to buy this bandwidth are the “clients”. Privatix gives the following application example in the whitepaper:
An Internet user from Germany has a 100 MB / s Internet connection, which he does not fully exploit, especially at night. Since our fictional Internet user has a flatrate, he can sell the unused bandwidth to others, without having to bear additional costs. To do this, he installs the Privatix Network Software on his computer and thus becomes an “agent”.
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A second fictitious user, in this example he comes from China, has no access to certain pages on the net because of the strict censorship in his home country. He now installs a VPN program from Privatix on his computer and could now buy the broadband connection from the German user. The Chinese user can now surf the Internet through the encrypted German VPN and gain access to all Internet sites, as a German Internet user would have.
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The white paper also mentions a second application example. One person has a number of dedicated server farms. He has paid for the servers, but the existing bandwidth is underused. To still be profitable, he also installs the Privatix software and then hosts content from payment-willing clients around the world. The only means of payment in both cases is the Privatix Coin. The price of the bandwidth used may vary and is adjusted to supply and demand as is the case on the open market. Privatix also charges up to 1% for Internet bandwidth trading, but does not affect other transactions.
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