What is Synereo?

Synereo is a San Francisco-based company that generates blockchain solutions to break the monopolized markets of Facebook, YouTube, and other content hubs to provide the creators with complete profit.

Its mission is to offer complete authority and compensation to the contributors of the online content world.

It aims to incentivize participation on its platform via its native cryptocurrency, AMP.

WildSpark is Synereo’s first tool that monetizes original content by creating a fairer Attention Economy.

Synereo Development

Synereo came into being in 2014 as a brainchild of Anderson McCutcheon, Dor Konforty, Lucious Greg Meredith, and Yuval Adam.

After raising $5 million through crowd-funding, the company launched its first campaign in 2015 and the second one in 2016. April 2016 witnessed the launch of its first tool WildSpark in its Alpha version which was later upgraded to Beta version.

Synereo works by decentralizing the publishing, distributions, and monetization of user-generated content on the web.

It employs the Liberated Attention Economy Layer to do so. The Attention Economy works with the three main participants in user-generated content:

- The creators,
- The curators, and
- The consumers.

With this layer in action, curators can invest the Synereo currency AMP on the potential content. Then they can direct this content from one location, like YouTube, to their distribution destination.

WildSpark creates a unique sharing link for social media handles. When users share this link, they receive a share of AMP along with the user who first shared the link.

This is the amplification technique that enables the creator’s content to reach wide-ranging audiences.

Through the use of the decentralized Attention Economy Layer, Synereo creates a new relationship between the creator and the audience through the curator. Synereo’s tool, WildSpark, lets the users participate in the amplification process.

They can earn AMP coins by either creating content or by curating it.

Transactional Process

Synereo’s transaction takes place between the creator and the amplifiers. The creator uploads the content and the curator invests AMP in it and uses WildSpark for sharing.

Every time a user amplifies this content, the creator receives 1/3 of the AMP invested in it. As the number of amplifiers increases, the share received by the creator and the amplifier also increases.

Features

Peer-to-Peer Network: Synereo’s P2P network allows the creators to integrate multiple apps to the platform and increase the reach of their content.

Smart Network: Synereo operates on a smart network, that is, it identifies the user’s content and links it with similar interests and audiences.

Bot-Resistant Design: An especially advantageous feature of Synereo is that its protocol mitigates the impact created by bots. It is secure from any presence of a bot network.

Reward System: The users receive rewards for content creation and curation through their AMP investments.

Special K: This is Synereo’s storage system based on the blockchain 2.0 technology. It stores a file in the form of multiple encrypted pieces, thereby, maintaining its safety.

Corporate Usage

Synereo shows potential as an alternative for major content hubs such as Facebook and YouTube. Its decentralized blockchain network offers better security along with a renewed portal for content publishing and distribution.

It endeavours to create a thriving relationship directly between the creators and the audience, without the monopolized markets engulfing the profits.

How to buy AMP?

AMP is Synereo’s token available for the users to operate the platform through investments and rewards. It is available for purchase on exchanges like Poloniex, Bittrex, HitBTC, Changelly, andUpbit

CoinSwitch, as the largest cryptocurrency conversion platform, allows users to exchange their cryptos for AMP across all portals at one place. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.

What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your AMP cryptocurrency.

Instead, all transactions happen to and from your own personal private wallets.

Storage

AMP tokens can be stored in any BTC wallet like Omniwallet.

Other storage options include hardware wallets like Ledger Nano S and Trezor.

Final Thoughts on Synereo

Synereo is currently engaged in a partnership with a Silicon Valley startup accelerator, NFX Guild. The alliance plans to organize a hackathon that will increase Synereo’s user base as well as its future prospects.

The company has finished its first phase of development wherein WildSpark was released in its Alpha version in March 2017. A more mature version was launched later in February 2018