As a researcher with a background in blockchain technology and decentralized systems, I am particularly intrigued by Synternet’s latest developments. The launch of their mainnet data layer on Cosmos marks an important step forward for the project, which aims to deliver fast, reliable, and low-cost web3 data without introducing centralization.
Synternet, a Web3 infrastructure initiative, has now activated its primary data layer on Cosmos, marking the beginning of the next development phase in their roadmap. Additionally, they have unveiled new applications for their $SYNT token, which underwent substantial enhancements following the mainnet deployment.
As an analyst, I would describe it this way: I’m at the forefront of the drive to deliver web3 data with the same speed and reliability as traditional web, all while avoiding centralization. To accomplish this, I’ve designed and implemented a bespoke network that is both swift and reactive, fueled by a token capable of facilitating a two-sided marketplace between data providers and consumers. My network may run on Cosmos, but it caters to every major blockchain.
Web3 Gets the Data Delivery It Deserves
Blockchains aren’t well-suited for handling large volumes of data efficiently. Overloading a blockchain with extensive data can result in bloat, expanding its size and making it harder for nodes to synchronize. To tackle this issue, developers have created specialized data delivery systems designed to provide real-time information while preserving the decentralization inherent in web3 technology.
As a crypto investor, I’ve noticed that when blockchain networks get crowded, transaction fees can skyrocket, making it costly to frequently update data. General-purpose chains like Ethereum and Solana have shown great versatility with various use cases. However, handling large-scale data delivery isn’t one of their strengths. Instead, we need specialized networks tailored for this task to effectively and affordably manage such workloads.
Synternet embodies the current thinking on how web3 infrastructure ought to function: swift, dependable, and affordable. At its core is its data layer, empowering data suppliers to transmit real-time information directly to consumers – usually developers of smart contracts and apps. This approach offers a cost-effective and less computationally intensive alternative compared to oracles, which can be more expensive to access due to their increased computational requirements. Additionally, there are concerns regarding the true decentralization of some oracles.
Synternet Prepares to Conquer Pikes Peak
“Synternet’s mainnet debut on Cosmos marks a significant technological achievement – it signifies the dawn of a new era in the decentralized economy for data,” expressed Synternet’s CTO, Jonas Simanavicius. “By introducing $SYNT, we offer genuine value to users, enabling them to access data services at lower costs and contributing to a more equitable and efficient marketplace.”
As a researcher exploring the world of $SYNT, I’m thrilled about the mainnet launch as it opens up new opportunities for users. Not only can we now partake in staking, but validators are also rewarded for their crucial role in network security. Moreover, this token serves multiple purposes, including facilitating governance decisions and enabling subscribers to access live data streams by making payments with $SYNT tokens.
As an analyst, I’m excited to share that Synternet has successfully deployed its mainnet. We are now embarking on the next phase of our roadmap, referred to as “Pikes Peak,” which extends till the end of the year. Our primary focus during this period is to introduce a dapp store and enhanced data streams. Additionally, we plan to unveil Autonomous Economic Agents that can autonomously execute intricate actions triggered by on-chain events. These agents will have the capability to deliver trade alerts via Telegram or even perform actions based on real-time blockchain data.
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2024-06-27 17:30