Synereo CTO on DAO Bitter Lesson: How to Avoid Trust Abuse
Synereo says it is working out what is a legitimate idea about how a DAO should properly function. It takes into account the human element when a system is not 100% autonomous but requires people with roles neatly defined in smart contracts. They will participate in the governance of decentralized systems, unlike in the case of Ethereum which has been described as a completely autonomous system. Who should keep the keys to the kingdom? This is timely following the recent hack of The DAO - or the Decentralized Autonomous Organization - on the Ethereum platform which led to a hard fork to....
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“With current social networks, you are not the client. You are the product being sold.” Synereo opened their official announcement with the above messaging, a bold statement about the current state of social media. Built to be decentralized, Synereo wants to change social networking for the better, rewarding their user base along the way. Synereo approaches ads on social media quite differently than others currently in the market. Instead of adhering to the traditional model of unsolicited advertisements, Synereo believes user attention is worth paying for.
The CEO of Synereo, Dor Konforty, has pointed out that the lesson to be learnt out of this whole situation is the fact that the human factor must be put into consideration and respected. Nevertheless, Konforty makes clear his support for Ethereum and states the position of his company over the June 17 attack on the DAO. Rollback shouldn’t be an option, Despite being a major ETH and DAO holder, Konforty insists that a rollback will set a wrong precedent. He says: “A rollback will set a precedent. This is a decision that is crucial to the growth of the decentralization movement and to the....
Distributed app platform Synereo announced that it has destroyed 50% of its native currency, AMP, ahead of a crowdsale, worth roughly $146,221,787 USD on the market. Second Synereo Crowdsale Starting Soon. The move comes just before Synereo’s second round of fundraising in a three-stage crowdsale starting 19 September. The Israeli company originally intended to keep the 731,108,937 now-burned AMP tokens as part of its long-term budgeting strategy. In a statement, Synereo CEO Dor Konforty said it was due to the proof-of-stake mechanism that secures the network. Keeping such a large share in....
Decentralized computing startup Synereo has revealed more details about its Technology Stack, as it also prepares for another fundraising campaign. Synereo said the Technology Stack, which is still a work in progress, is scheduled for full release in Q4 2017. The Tel Aviv-based project has been quietly simmering in the background for over two years. It claims to be the first such platform that will allow the kind of "industrial scale" decentralized computation and storage to run applications like its social network platform of the same name, which recently went live as an alpha.....
Israel-based blockchain 2.0 company Synereo recently announced some new innovations and a successful funding campaign raising $4.7 million USD. Now the firm is broadly changing its outlook to “fundamentally redesign the way the internet works.” Synereo Raises $4.7 Million to Expand and Scale. The blockchain startup says it’s now planning on creating a....