Synternet

$NOIA

5/25/20242 min read

25/05/2024

$NOIA Price: $0.197

About Synternet:

Synternet is a blockchain that powers a modular, interoperable data infrastructure across all major chains. At its core is the Data Layer, a protocol that acts as a customisable execution layer between blockchains. Its AEA (Autonomous Economic Agent) enables developers to build composable, purpose-built applications that can execute on any data on any chain.Synternet has been backed by prominent Web3 investors including Polygon Ventures, CMCC, Faculty Group, Moonrock Synternet has received backing from prominent Web3 investors including Polygon Ventures, CMCC, Faculty Group, Moonrock Capital, HV Capital and others.

Key Features and Architecture

Data Layer: Synternet's core component, the Data Layer, acts as a customizable execution layer between all blockchains. It allows developers to see, interpret, and act on data from any chain in real-time, facilitating instant smart contract execution and data interoperability across various blockchains. This setup significantly enhances the potential for building advanced, cross-chain decentralized applications (dApps)​.

Use Cases:

  • AI Integration: Synternet’s Data Layer supports AI applications by providing real-time, tamper-proof data feeds from multiple blockchains. This integration is transforming sectors like healthcare, finance, and cybersecurity by enabling advanced predictive analytics, fraud detection, and efficient supply chain management​​.

  • DeFi and DEX Intelligence: The platform offers real-time data streams crucial for decentralized finance (DeFi) applications and decentralized exchanges (DEX). Traders can access instant data on slippage rates and transaction metrics, enhancing trading efficiency and decision-making​​.

  • Historical Data Access: Through its collaboration with KYVE, Synternet ensures access to comprehensive historical blockchain data. This capability supports in-depth analytics, backtesting of trading strategies, and enhanced transparency for applications like block explorers and NFT marketplaces​​.

Developer and User Experience

Synternet has focused on improving the developer experience with the launch of Silverstone, which includes new features like MetaMask integration and a revamped user interface. This phase also introduced advanced accounting and data filtering capabilities, streamlining the development and onboarding process for new users​​.

Synternet is committed to several important developments in the coming months that are part of the Monaco phase of its Q2 2024 roadmap. These developments include:

  • Launch of the Synternet blockchain on the mainnet, creating a robust infrastructure for real-time, cross-chain data streaming.

  • Introducing a fully operational token bridge between Ether and Cosmos to facilitate seamless value transfer.

  • Dramatically improve the experience for publishers and developers, simplifying engagement and innovation on the network.

Syntropy was founded with the intention of using blockchain technology to change the way data moves across the internet. As the Web3 ecosystem has evolved, the need for an interconnected blockchain has become progressively more apparent. synternet is the culmination of this evolution, and with the arrival of mainnet, it has been transformed into a powerful first tier project that connects isolated chains into a synchronised, interoperable network that powers the data economy.

To date, the Web3 Data Layer has built a talented team of more than 50 Web3 professionals, and its community has grown to nearly 100,000 members across various social media platforms. More than 16,500 token holders also support its vision, and leading blockchain-focused venture capital firms have committed $10 million in funding.

Future Prospects

Synternet is continually expanding its ecosystem, with plans to onboard more validators and enhance its Data Layer. The platform's goal is to create a decentralized data economy where publishers, brokers, and subscribers can interact efficiently, fostering innovation and collaboration within the Web3 community​​.

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