Israeli Blockchain Startup Synereo Announces Alpha Release of World’s First Decentralized Social Network

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Tel-Aviv-based company Synereo’s decentralized, open-source social network will move into alpha this September, being the first fully decentralized network based on principles of the attention economy. Synereo’s alpha is built on top of the company’s unique distributed tech stack, which utilizes novel Blockchain technology to enable a peer-to-peer internet.

OurPeer2peerSynereo’s blockchain-based social network revolutionizes the concept of social media by placing control over content, personal information and monetization in the hands of users. Contrary to incumbent social media providers like Facebook and Twitter, Synereo’s social network cannot record or store personal information of any kind, and does not sell it to third parties, or target users with marketing messages. Instead, all network transactions and relations are encrypted on a distributed ledger and accessible to permitted parties only.

The Synereo network operates entirely without central servers or data centers. Instead, the network compensates users for contributions of storage and computation power when they support the distributed network with their personal devices. Additionally, the social network itself adheres to principles of the attention economy, which provides users with monetary rewards for creating and curating content that people like.

Synereo alpha will include the following features:

    • Text posting with featured image
      Test users will be able to post simple text posts and images
    • Content labels (#hashtags)
      Posts will be taggable and searchable via hashtags  

 

  • Decentralized search capability
    Content, users and other items will be searchable on the network
  • Content amplification
    Users will be able to promote content by charging their posts with the test network’s native currency (test AMPs). Accordingly, users will be compensated with said AMPs when viewing amplified content.

The mechanics of Synereo’s underlying Blockchain 2.0 technology, as well as the basic dynamics of the social network, are presented here. Additional information regarding the alpha release can be viewed here.

Synereo is a Tel-Aviv based company which develops a decentralized tech stack, allowing web applications to exist without centralized servers.

Founders:

Dor Konforty (CEO) is a graduate of the Israeli Air Force IT unit and has a master’s degree in neurobiology. His interest in neural networks inspired him to develop a decentralized attention economy.  

Greg Meredith’s (CTO) work has provided many of the architectural foundations of the Internet of scale, focusing on massive volume, continuously and globally available ­­service design, deployment, execution and management systems. He was a principal architect at Microsoft.

Richard Kastelein

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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