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Blockchain: How Synereo wants to decentralize the web

With its blockchain-based technology, Israeli startup Synereo wants to change the Internet for good.

09 Nov. 2016 Kim Rixecker
Synereo (Illustration: Synereo)

Synereo: From blockchain 2.0 to a decentralized Facebook alternative

Will the Internet of the future manage without centralized providers, and create a fully decentralized ecosystem for itself? That is exactly what Synereo's founders hope to make happen. This startup from Tel Aviv is working on the necessary technology. Its foundation, like for many projects of this type, is a redesigned version of blockchains , which the creators naturally call blockchain 2.0. This technology was redeveloped from the bottom up, and is meant to be not just safe but above all fast.

It includes Rholang, a language for developing smart contracts, which can be used to create complex DApps, decentralized Internet applications. In developing the language, Synereo is following a strict mathematical approach to prevent the errors that were made by the Ethereum project.

Special K offers a storage solution based on blockchain 2.0 technology. When a file is uploaded to the Synereo platform, it is sharded into multiple encrypted pieces and distributed across various network nodes. Only someone who has been given access to the file by the owner can download it in its entirety.

Synereo has created a decentralized social network as the first application for the system. It currently exists in an alpha version and is meant to show the kinds of complex Internet applications that are available in the form of decentralized apps with Synereo.

Synereo: Strong interest in its decentralized platform

To push forward the development of such applications, Synereo has announced a partnership with the NFX Guild, a sort of mentor-based startup accelerator in Silicon Valley. Together the two want to organize a Synereo hackathon, whose winners will receive financing from NFX.

A fundraising campaign is also underway, in which participants receive tokens for the underlying cryptocurrency. This campaign runs until October 9, 2016, and so far has earned Synereo almost four million US dollars. Based on its current success, Synereo could become one of the most promising players in decentralized platforms in the future.