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Synereo Coin – Detailed review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Synereo Coin.
Origin & Background
In 2014, Synereo launched as a decentralized social media platform. It wanted to build an economy of awareness to reward its users. Synereo is an attention-based currency. This means that Synereo’s “Attention Economy”, valuable products are such products that receive other people’s attention. Accordingly, if you produce content that others deem relevant or interesting, you also receive rewards for that production. The amount of rewards you deserve is also something that the recipients of the content determines. You could actually compare it to the “claps” on Medium-blogposts, if it would have been possible to monetize on the “claps” received.
Dor Konforty, Anderson McCutcheon, Yuval Adam and Lucious Greg Meredith founded Synereo in 2014.
The company raised over $5,000,000 in two crowd-funding campaigns. The first campaign launched in March 2015 and raised $120,000. The second campaign, launched in October 2016, raised $4.700, 000.
In September 2016, Synereo entered a corporation with the Silicon Valley startup accelerator NFX, to build internet over Synereo’s blockchain. Synereo later on redefined its concentration turning towards creating the tools for Attention Economy as part of the company’s core philosophy.
In April 2017, Synereo launched the Alpha phase of its Attention Economy app, Qrator, and began growing its user base. With the launch of the Beta, Synereo renamed its product WildSpark.
Functionality and Technology
AMPs are Synereo’s content flow currency. It serves as a way to intensify the flow of information in the network. Also, AMPing content increases its capability to proliferate to peers and the chances of it being seen by more users.
Furthermore, Synereo’s AMPs comes from the Omnilayer and is an asset on the Bitcoin blockchain. However, after realizing that current blockchain solutions were not adequate to attain the creation of this social media platform, the Synereo team started to develop Synereo’s native blockchain. It led to the creation of a sample of the long-anticipated, decentralized, “World Computer”. The World Computer is a machine competent of storing great amounts of data and running massive decentralized applications.
Pros & Cons
Finally, we have not identified any obvious cons with the Synereo Coin. But, we can’t guarantee that there are no cons. Thus, we urge you to form your own opinion on the advantages or the disadvantages of this specific cryptocurrency.
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