From Decrypted - Decrypting the Cryptocurrency World
Jump to navigation Jump to search

Developer(s) Synereo/Open-source
Development status Active
Written in Scala
Operating system All OSes where Java Virtual Machine (JVM) is supported
Type Open Source Software, Decentralized computing
License Multiple open-source licenses

Synereo is a Tel Aviv based company, developing blockchain-enabled Attention Economy solutions, that allow direct monetization of original content, posted anywhere on the net, altering the future of content publishing and distribution.

History[edit | edit source]

Synereo was founded by Dor Konforty, Anderson McCutcheon, Yuval Adam and Lucious Greg Meredith in 2014. The company raised over $5,000,000 in two crowd-funding campaigns; the first campaign was launched [1] in March 2015 and raised $120,000, while the second campaign, launched in October 2016, raised $4.700,000 [2].

In September 2016, Synereo entered a partnership[3] with the Silicon Valley startup accelerator NFX, to build the decentralized internet over Synereo’s blockchain. Synereo later on redefined its focus turning towards creating tools for the Attention Economy as part of the company’s core philosophy.

In April, 2016, Synereo launched the Alpha phase [4] of its Attention Economy app, Qrator, and began growing its user base. With the launch of the Beta[5], Synereo had renamed the product to WildSpark.

Synereo's Attention Economy[edit | edit source]

Synereo operates in the Attention Economy space, flowing from the fundamental assumption that attention is a scarce commodity, making up the most valuable resource in today’s online world.

In Synereo’s Attention Economy, value is created by those who create attention-worthy content as well as those who deliver it to relevant, appreciating audiences. In the economy we established, this value is put in the hands of its creators, by their audiences, cutting unnecessary intermediaries and third parties out of the equation and out of the revenue model.

The AMP[edit | edit source]

The AMP is a cryptocurrency token designed and issued by Synereo in early 2015. AMPs lay at the foundation and enable Synereo’s Attention Economy tools. The amount of AMP tokens in existence was initially locked to two billion (2,000,000,000).[6] From the entire collection of AMPs 61% was set aside for funding purposes. The first crowdsale was held March 2015, during which about 45 million AMPs were sold. The remaining 320 million AMPs that were left unsold from the crowdsale were burned. Synereo also has burned AMPs in other events, including 50% of all existing AMPs in September 2016, to avoid holding more than 50% of available AMPs.[7]

The AMP is traded on the leading cryptocurrency exchanges.

WildSpark[edit | edit source]

WildSpark is a distributed meta layer on top of existing media hubs and social networks, allowing fair and free monetization of original content. Based on principles of decentralization, content creators monetizing their work with WildSpark, are assigned full ownership of their content and its monetization processes.

WildSpark users are incentivized to reward both creators and curators directly with AMP, without the hub, social network or Synereo taking a cut.

See also[edit | edit source]

References[edit | edit source]

  1. "Synereo Kicks Off Crowdsale for its 'Decentralized Facebook' Platform". Cointelegraph. Retrieved 2017-12-07. 
  2. "Israeli cryptocurrency co Synereo raises $4.7m - Globes English". Globes (in Hebrew). Retrieved 2017-12-07. 
  3. Willms, Jessie. "Synereo and NFX Guild Launch Strategic Partnership to Build a Decentralized Internet — Bitcoin Magazine". Bitcoin Magazine. Retrieved 2017-12-07. 
  4. "Synereo announces Qrator – The First Attention Economy App". Blockchain News. 2017-04-04. Retrieved 2017-12-07. 
  5. "Synereo Opens Beta Registration for WildSpark - First App for its AMP Token | Finance Magnates". Finance Magnates | Financial and business news. 2017-06-21. Retrieved 2017-12-07. 
  6. "Synereo Finances". Google Docs. Retrieved 2016-10-14. 
  7. Konforty, Dor. "Synereo Destroys $146,221,787 USD in AMPs | Synereo Blog". Retrieved 2016-10-14.