What is Synereo (AMP)?
Future of AMP Cryptocurrency and know how to buy AMP

#1 – What is Synereo?

Synereo – The Basics

It was only the pervasive need and dominance of words and information on the internet that made Bill Gates say “content is king”. The exponential growth of digital content over the years requires a credible platform that provides the due credit and compensation to the creators and curators.

  1. 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.
  2. 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.
  3. WildSpark is Synereo’s first tool that monetizes original content by creating a fairer Attention Economy.

Synereo Development

  1. Synereo came into being in 2014 as a brainchild of Anderson McCutcheon, Dor Konforty, Lucious Greg Meredith, and Yuval Adam.
  2. After raising $5 million through crowd-funding, the company launched its first campaign in 2015 and the second one in 2016.
  3. April 2016 witnessed the launch of its first tool WildSpark in its Alpha version which was later upgraded to Beta version.

 

#2 – What are the benefits of Synereo?

Synereo Technology

  1. 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.
  2. 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.
  3. 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.
  4. 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

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

Features

  1. 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.
  2. Smart Network: Synereo operates on a smart network, that is, it identifies the user’s content and links it with similar interests and audiences.
  3. 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.
  4. Reward System: The users receive rewards for content creation and curation through their AMP investments.
  5. 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

  1. 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.
  2. It endeavours to create a thriving relationship directly between the creators and the audience, without the monopolized markets engulfing the profits.

 

#3 – How to buy and store AMP?

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, Cryptopia, Changelly, Upbit, alcurEX, and ChangeNOW.

  1. 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.
  2. 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.

 

#4 – What is the future of Synereo?

  1. 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.
  2. 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.
  3. Its second phase focuses on creating a decentralized CDN (Content Delivery Network). This is underway and planned to be launched in 2019 Q1. The process is exploring the technology available to make Synereo’s Attention Economy Layer a decentralized one.
  4. The third phase will be launched somewhere around Q2-3 2019. It is planned to create a fully decentralized and distributed social network for communication, collaboration, and circulation.

Also Read: Complete Analysis of Synereo | Live Synereo (AMP) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.107305

0.110589

0.103446

0.110568

22,016

10,808,700

June 01, 2018

0.177635

0.181377

0.173414

0.177000

55,117

17,892,900

May 01, 2018

0.309281

0.310173

0.287865

0.309705

374,814

31,153,500

Mar 01, 2018

0.386288

0.404557

0.344726

0.403768

2,406,470

31,774,600

Dec 01, 2017

0.227383

0.276688

0.210501

0.276688

1,295,130

18,703,700

Aug 01, 2017

0.198245

0.250743

0.196430

0.238908

437,312

16,306,900

 

#5 – How is AMY different from other cryptos?

Of the varieties of cryptocurrency platforms that exist in today’s market, Synereo is a unique system making use of the blockchain network as an alternative for the existing content publishing hubs. It is unique in terms of the features that it offers:

  1. At its core, Synereo aims to monetize the content that generates users’ attention. This monetization process does not only benefit the creator but also the curators without any commissions earned by the middlemen.
  2. Another distinguishing characteristic of the platform is its incentives for everyone. All the participants can generate profits by either creating content or by promoting it.
  3. Synereo’s smart contracts enable the users to create binding agreements through nodes on the blockchain network without the role of any central authority.

 

#6 – Should you invest in Synereo?

  1. Synereo is bringing about a shift in the position of the social networks. In giving the content creators their due profits, the platform has the potential to replace the traditional hubs of content and bring in a change.
  2. There are a number of companies building on top of Synereo. It includes Stealth, a music platform, weWOWwe, a sports social network, Ethereum, and LivelyGig.
  3. As a decentralized marketplace for content creators and curators, Synereo is expected to establish itself among a large proportion of users. This should, in turn, increase its coin’s demand and value.
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