Sylo

Sylo

SYLO
$0.002398199%-3.40

Key Metrics

Price$0.002398199
Real Volume (24H)$1,449,707.9
Marketcap$5,831,503.55
Fully Diluted ValuationN/A
ATH$0.01482212
ATH Date5/6/2021, 12:46:08 PM
ATL$0.00076816
ATL Date1/5/2021, 3:42:25 AM
Circulating Supply4.2B
Total Supply10B
WebsiteN/A
WhitepaperN/A
Popularity Rank1527
Chart
What is Sylo?

Sylo (SYLO) emerges as a decentralized platform that revolutionizes communication by allowing users to harness the power of their own computers as servers. This innovative approach enables users to send and receive messages and notifications, engage in audio and video calls, transfer funds, trade non-fungible tokens (NFTs), and securely store cryptocurrencies like Bitcoin, Ethereum, Tezos, and other ERC-20 assets. By addressing the limitations of centralized alternatives, such as message delivery delays and network connection failures, Sylo aims to provide a seamless and reliable communication experience for its users.

At the heart of the Sylo network lies a commitment to privacy and decentralization. Unlike traditional platforms that rely on centralized servers and off-device storage, Sylo ensures that users maintain ownership and control over their data. The platform achieves this by replicating group data across devices, eliminating the need for data to reside on servers. By decentralizing data storage and transmission, Sylo enhances privacy and security, empowering users to maintain full ownership of their personal information.

In order to incentivize the robustness and reliability of the network, Sylo introduces a unique token economy. Users who choose to contribute their computing power as Sylo nodes are rewarded based on the number of tokens they have staked. By aligning incentives with network quality, the platform ensures that nodes that uphold the network's performance receive SYLO tokens as a reward. Conversely, nodes that fail to meet the expected standards may face penalties. This incentivized structure encourages active participation and fosters a resilient and efficient network.

SYLO serves as the native utility token of the Sylo platform, operating on the ERC-20 token standard. This versatile token facilitates seamless micro-payments within the platform, enabling users to engage in various transactions and services. The number of SYLO tokens owned by a user reflects their level of participation within the network, with higher token holdings indicating a greater involvement. Users can utilize SYLO tokens for making payments, upgrading their crypto wallets, paying for decentralized apps (dApps), and more. Additionally, staking SYLO tokens provides an opportunity for users to earn rewards based on the number of tokens they have staked. Looking ahead, Sylo envisions introducing governance mechanisms for SYLO token holders, enabling them to actively participate in shaping the future of the platform. The platform also plans to introduce a range of independent trading services, further expanding the utility and versatility of SYLO tokens.

The visionary team behind Sylo comprises directors Aaron McDonald, Robin Johannink, Daniel Gillespie, and Brendon Packard. The team brings together a diverse range of expertise, including computer science, development, entrepreneurship, design, and leading-edge technology. With a strong foundation of knowledge and experience, the Sylo team is dedicated to driving the platform's growth and success.

The total supply of SYLO tokens is set at 1,000,000,000,000,000, reflecting the platform's commitment to providing a sustainable and vibrant ecosystem. This ample token supply ensures that users have access to a sufficient quantity of SYLO tokens to engage in various activities and transactions within the platform.

In conclusion, Sylo (SYLO) revolutionizes communication by harnessing the power of decentralized computing. Through its innovative platform, Sylo empowers users to take control of their own data and enjoy a secure and private communication experience. With the native SYLO token facilitating seamless transactions and incentivizing network participation, Sylo paves the way for a future where individuals have full ownership and sovereignty over their personal information.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.

Try for Free

Top Assets

AssetPrice24HMcap
Loading...

We use cookies for personalization, social media, and analytics, and share usage data with partners.