Business News Report Technology
April 24, 2024

Web3 Data Infrastructure Provider Syntropy Rebrands To Synternet, Aligns Its Appearance With Tech Advancements

In Brief

Syntropy is rebranding to Synternet to align its appearance with technological advancements underway behind the scenes.

Web3 Data Infrastructure Provider Syntropy Rebrands To Synternet, Aligns Its Appearance With Tech Advancements

Provider of Web3 data infrastructure, Syntropy announced that it is rebranding to Synternet. This rebranding initiative entails changes to the project’s logo and website appearance, aligning them more closely with the advanced technological advancements underway behind the scenes.

Daniel Haudenschild, CEO of Synternet, emphasized that the rebranding to Synternet represents a bold declaration of its vision for the future of blockchain technology. By providing the data infrastructure for Web3, Synternet aims to establish the groundwork for a decentralized web that is more open, interoperable, and innovative.

Importantly, the transformation from Syntropy to Synternet will not impact the NOIA token held by users. These tokens will continue to function seamlessly on the Ethereum network, and no action will be necessary from token holders at this time. Presently, the platform boasts a user base of over 16,500 NOIA token-holders.

Subsequent to the visual rebranding, Synternet has also outlined several significant developments scheduled for the upcoming months as part of its Monaco phase within the roadmap for the second quarter of this year.

These include the launch of the Synternet blockchain on mainnet, the introduction of a fully functional token bridge connecting Ethereum and Cosmos, which will streamline value transfers between the two networks, and the implementation of various enhancements designed to enhance the experience for publishers and developers, thereby simplifying their engagement with the network.

What Is Synternet?

Synternet operates as a blockchain platform that facilitates modular and interoperable data infrastructure across various major networks. At its core lies the Data Layer, a protocol serving as the execution layer that bridges different blockchains. Meanwhile, its Autonomous Economic Agents (AEAs) provide developers with the capability to build versatile and use-case-specific applications that can operate using data sourced from any blockchain network.

The project has garnered support from leading investors in the Web3 space, such as Polygon Ventures, CMCC, Faculty Group, Moonrock Capital, HV Capital, and various others, raising a total of $10 million in funding.

Syntropy was established with the objective of revolutionizing data transfer across the internet through the integration of blockchain technology. As the Web3 ecosystem progressed, the necessity for interconnected blockchains became increasingly evident. Synternet represents the culmination of this evolution. With the launch of its mainnet, it has evolved into a Layer 1 chain, seamlessly connecting isolated blockchains into a synchronized, interoperable network that drives the data economy.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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