In a significant stride towards revolutionizing data accessibility, Onmichain web3 data layer Synternet has activated its mainnet on Cosmos. This pivotal operational expansion brings forth benefits to not only Cosmos projects but also to Ethereum’s ecosystem. Even more, it opens doors for developers to craft potent dapps utilizing reliable real-time data.
This milestone launch marks the conclusion of Synternet’s Monaco stage, thereby rolling out new features for the $SYNT token, particularly concerning staking capabilities. Being the cornerstone of web3 and a formidable challenge awaiting developers dealing with cross-chain applications, interoperable data holds immense value, inducing Synternet’s relentless pursuit towards its delivery.
The mission of Synternet is grounded in creating a system where data from varied blockchains can be accessed, ensuring the removal of centralized chokepoints which pose obstacles. It envisions the epitome of web3 infrastructure, where rapid and scalable data accessibility is assured without adding to computational and financial burdens. The launch of its mainnet signals Synternet’s confidence in overcoming this challenge.
Synternet’s mainnet launch spawns a new era of decentralized data on demand. Once operational, institutional validators can initiate block generation, allowing the data economy to propel into full swing. This also ensures the $SYNT tokens can operate in Ethereum and Cosmos in a parallel fashion, courtesy of a two-way bridge designed to allow movement between the two ecosystems.
Synternet CEO, Daniel Haudenschild elaborates, “The mainnet launch is a momentous event for Synternet, symbolizing the fruition of our vision of a decentralized data economy. The acquisition of monetary value for data by the $SYNT token has paved the way for worthwhile opportunities for developers and businesses. As we commemorate this landmark event, we are looking forward to progressive growth and expansion stated in our Pikes Peak roadmap.”
The reference to the roadmap, named after the renowned Colorado mountain race, encapsulates a series of improvements and additional features, set to debut by the end of 2024. These involve augmented data streams, data queries, and Autonomous Economic Agents, designed to optimize the potential value derived from user data interactions.
Synternet’s data layer adopts a pub-sub (publish-subscribe) blueprint where data providers can transmit live data to applications and smart contracts. This is a boon to dapp developers, negating the need to tinker with nodes and unstable middleware.
In the current situation, the mainnet launch facilitates the realization of the primary use cases imagined for the $SYNT token. It enables payment for various data-related services, including data streams curated by several publishers on different chains. Expectedly, staking is a core aspect, and governance has been engineered into the system, empowering the network users to voice their opinions on protocol upgrades.
The Synternet community, affectionately referred to as ‘Synternauts,’ is buzzing with excitement surrounding the mainnet launch and the fresh opportunities it creates for the $SYNT token. Besides, developers can leverage a supportive infra solution that fulfills their data delivery requirements. This aids the construction of robust applications, drawing data from various blockchains as and when needed.
