Opinion

Alpha Launch of Blockchain-Based Social Media Upcoming

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Synereo’s decentralized, open-source social network, based on principles of the attention economy, is set to move into alpha phase in September. Synereo’s alpha is built on the company’s distributed tech stack, which utilizes blockchain technology to enable a peer-to-peer internet.

The blockchain-based social network is a new take on social media which passes control over content, personal information and monetization to the users. The network cannot record or store personal information of any kind, and therefore cannot sell it to third parties, or target users with marketing messages. Instead, all network transactions and relations are encrypted on a distributed ledger and accessible to permitted parties only.

New features that are expected to go live include the creation of private connections between users as the deployment of decentralized nodes on local machines begins. Text posting with featured image and hashtags will be supported which will also enable decentralized search capability by label and user. Content amplification with test-net AMPs will enable users promote content by charging their posts with the test network’s native currency – test AMPs; accordingly, users will be compensated with said AMPs when viewing amplified content. AMP rewards for completing certain actions on the application, as well as for opting to report usage statistics relating to the attention economy will be distributed.

With this alpha release the company is looking for community feedback from user experience on the attention economy powering it, and planned upcoming features that will be added to the application in the weeks and months following.

The Synereo network operates as a distributed network so the network compensates users for contributions of storage and computation power when they support the distributed network with their personal devices. Additionally, the social network adheres to principles of the attention economy, which provides users with monetary rewards for creating and curating content that people like.

Matthew Warner
Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.