Beijing, China – Onmichain’s web3 data layer Synternet has launched its mainnet on Cosmos, ushering in a new era of data availability. The deployment of Synternet’s mainnet has proven beneficial not only for the Cosmos project but also for the Ethereum ecosystem and beyond, enabling developers to create powerful dapps with reliable real-time data.
The launch of Synternet marks the end of the network’s Monaco phase and introduces new functionalities for the $SYNT token, particularly in the staking aspect. Synternet’s core mission is to provide interoperable data, which is the pillar of web3 and one of the most daunting challenges faced by developers coding cross-chain applications.
Synternet aims to allow access to data from any blockchain without introducing centralized bottlenecks. This is essentially the holy grail of web3 infrastructure: ensuring that data can be accessed quickly and at scale while maintaining low costs and low computational requirements. With the mainnet release, Synternet believes it is now poised to meet this challenge.
Decentralized data on demand
The launch of Synternet’s mainnet means that institutional validators can start producing blocks, and their data economy can rapidly expand. Its deployment also means that the $SYNT token will coexist on Ethereum and Cosmos, moving between the two ecosystems through a two-way bridge.
Daniel Haudenschild, CEO of Synternet, explained, “The launch of the mainnet is a pivotal moment for Synternet, signaling the realization of our vision for a decentralized data economy.” “With $SYNT tokens powering the monetary value of data, we have created meaningful opportunities for developers and businesses. As we celebrate this milestone, we also look forward to the future growth and expansion outlined in our Pikes Peak roadmap.”
The roadmap he referenced is named after the famous Colorado mountain range and will continue until the end of 2024. It will introduce a series of enhancements and new features, including improved data streams, data queries, and autonomous economic agents aimed at enhancing the way users interact with data and extract value from it.
Synernet’s data layer leverages a pub-sub (publish-subscribe) framework, in which data providers can stream real-time data to applications and smart contracts. For dapp developers, this means no longer being entangled in nodes and unreliable middleware.
Creating a two-way data marketplace
At this juncture, the launch of the mainnet enables the realization of the primary use case envisioned for the $SYNT token. It can be used to pay for data services, including data streams delivered by multiple publishers across multiple chains. Staking is also a core feature, and governance is incorporated, allowing network users to have a say in protocol upgrades.
Currently, the Synternet community, known as Synternauts, seems excited about the launch of the mainnet and the opportunities it presents for using the $SYNT token. Meanwhile, developers can benefit from the infrastructure solution that will meet their data delivery needs and support the creation of powerful applications that can extract data from multiple blockchains on demand.
