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Silicon Valley Powerhouse NFX Favors Synereo over Ethereum For Dapps Development

by on October 1, 2016
 

Cryptocurrency enthusiasts and developers have been talking about creating a decentralized web for quite some time now. For the longest time, it seemed the Ethereum ecosystem would be the best option to achieve this goal. But NFX is not looking at Ethereum, as they plan to use the Synereo Blockchain 2.0 to create a decentralized web. Plenty of Dapps will be built in this blockchain as well.

NFX Picks Synereo over Ethereum

Everyone who has been following the Synereo news will know the developers are creating some spectacular. Not only are they looking to change the way we think about social media and sharing data, but their plans also encompass denaturalizing the world wide web. Doing so is much easier said than done, but it is coming one step closer thanks to a new partnership.

NFX is a company many people in Silicon Valley are keeping a very close eye on. With their invite-only approach to attract partners, they are attracting a lot of attention. Qualified companies are invited to join their “guild” for digital networks and marketplaces. NFX also runs an accelerator program twice every year, in which between 15 and 20 companies participate.

Synereo has been a part of NFX Guild’s accelerator program, and recently graduated from the three-month program. Decentralized solutions have piqued the interest of the Silicon Valley giant. Synereo also received several significant investments during the accelerator program, showing there is a great interest in what this platform has to offer.

A Powerful Partnership For Dapps Development

But there is more, as every future member of the NFX Guild class will use Synereo’s blockchain to build decentralized applications. This is a very powerful partnership that catapults Synereo to the forefront of the Dapps development ecosystem. NFX chose the project over Ethereum, which is often seen as the go-to solution for Dapp development.

NFX Managing Partner James Currier told the media:

“If you do the analysis, Synereo comes out as the superior platform for developing decentralized apps. It runs fully distributed instead of massively replicated. It’s JVM top to bottom rather than Python. It’s forward compatible, vs other platforms anticipating multiple hard- forks. Synereo has the identity layer built in which provides distribution advantages and network effects. Lastly, fine-grained concurrency, vs other platforms’ linearity, provides greater speeds and scalability”

The first batch of Synereo-inspired Dapps will be developed in the coming months. NFX Guild is inviting developers to attend an upcoming hackathon, where they can present and create tools using the Synereo tech stack. For NFX, this is an excellent way to venture into decentralized technology, while Synereo gets to expand its ecosystem with new Dapps. A major success for the young project, which seems to outcompete Ethereum in the Dapps development race. 

Header image courtesy of Synereo

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