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Blockchain-based Social Network Synereo Announces September Launch

by on August 17, 2016
 

Synereo is a decentralized, open-source social network embracing the principles of the attention economy. Unlike other social networks, this decentralized platform offers something different entirely. Putting full control in the hands of the users, rather than intermediaries, is the way social media should be experienced. The team has announced the alpha launch of their platform come September 2016.

This Is Not Your Average Social Network

Creating a social network on top of blockchain technology creates some exciting opportunities. Synereo will let users control content, monetization, and their personal information at all times. More importantly, this platform is not designed to store or record personal information of any sorts. This makes Synereo very different from Facebook, Twitter, or even LinkedIn.

As the decentralized social network cannot store this information, the details will not be sold to third parties either. Synereo wants to be the social network without marketing messages, which would be a more than welcome change of pace. All communication on the platform will be encrypted, and made accessible on a permissioned basis.

This information is stored on a blockchain while removing the need for data centres and central servers. Users who contribute storage and computational power to Synereo will be rewarded. To be more precise, users will be able to support the network through a variety of devices.

The attention economy is a topic that is often kicked around, yet few people seem to grasp its repercussions. In the end, it comes down to reward users for creating curating content they like. Right now, platforms such as Facebook and Twitter continue to grow thanks to the creations of others. Those content creators are not rewarded by the social networks, which makes Synereo all the more different.

Synereo Alpha Is Coming In September 2016

When the alpha version of Synereo launches come September 2016, there will be different features to try out. Users can post images and text posts, as well as add tags. Hashtags can be used to find content, similar to how Twitter operates. Users can also search the entire network for other users and content.

Those early adopters who want to promote content can use the platform’s native currency, called AMPs. During the alpha stage, only testnet AMPs will be utilized. Synereo users who view this amplified content will be rewarded with AMPs in return. More specific details can be found here.

Header image courtesy of Synereo

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