What is Sylo? All You Need to Know About SYLO

BeginnerMay 16, 2024
Sylo is revolutionizing digital communication with a secure, decentralized network for messaging, calls, and cryptocurrency transactions.
What is Sylo? All You Need to Know About SYLO

Sylo is revolutionizing digital communication with a secure, decentralized network for messaging, calls, and cryptocurrency transactions.

In digital communication, decentralized technologies often overlook mobile users, who may not have constant connectivity. Traditional peer-to-peer (P2P) methods struggle with reliable message delivery and establishing stable connections on mobile devices. To address these challenges, a solution that enhances reliable decentralized communication was necessary, focusing on privacy and user data ownership without relying on centralized servers. This approach ensures practical and user-friendly solutions for mobile users, leading to the development of Sylo, a platform tailored specifically to meet the needs of those using mobile devices for decentralized communication.

What is Sylo (SYLO)?

Sylo, an innovative decentralized communication platform, was launched in 2017, emerging from the development house established in 2010. Designed to address the centralization issues of mobile devices, Sylo offers a secure, private communication means within a decentralized framework. It bridges the gap between the need for constant connectivity and mobile accessibility, focusing on privacy and user empowerment.

The project introduces Seeker Nodes and utilizes Sylo tokens, incentivizing users to contribute to the decentralized services enhancing the ecosystem’s robustness. Over the years, Sylo has evolved significantly from its initial concepts, adapting to the dynamic demands of digital communication while maintaining a strong commitment to user privacy and security.

Under the leadership of individuals like Aaron McDonald and with the support of developers with extensive backgrounds in technology and business, Sylo has made significant strides. The core team’s experience spans across various sectors, including banking, technology, and entrepreneurship, ensuring a solid foundation for the project’s ongoing development.

From its early days to its current state, Sylo has remained focused on creating a decentralized communication environment that is not only secure and private but also accessible to everyone. This commitment is evident in its continuous updates and the strategic expansion of its network capabilities, aiming to revolutionize how we communicate in the decentralized space.

Sylo’s roadmap reflects its dynamic evolution, highlighting completed initiatives such as the Seeker Nodes deployment and network participation through staking. The future focuses on innovations like the Sylo Graph and decentralizing network governance, expanding its metaverse capabilities, and enhancing the Seeker Network. These steps underscore Sylo’s commitment to advancing secure, decentralized communication technology.

How Does Sylo Work? Communication Layer and Incentives

The Sylo Network is a decentralized communication platform that specifically caters to the needs of mobile users who face connectivity and privacy challenges inherent in centralized systems. Traditional communication platforms rely heavily on centralized servers, which not only pose significant risks in terms of data breaches and privacy violations but also often fail to provide consistent service to mobile devices due to their always-on requirement. Sylo addresses these issues by decentralizing data storage, thus enabling users to maintain ownership and control of their data without relying on external servers.

Central to Sylo’s innovative approach is the implementation of Seeker Nodes, which are critical in enhancing connectivity within the peer-to-peer (P2P) framework. These nodes have a unique role in the network—they maintain a publicly dialable address and commit to high-reliability service delivery. This architecture is particularly advantageous for mobile users, who commonly experience difficulties establishing direct connections due to the centralized nature of mobile networks. By leveraging Seeker Nodes, Sylo ensures uninterrupted and secure communication across its network, making decentralized communication feasible and efficient even on mobile platforms.

Moreover, integrating the Sylo Wallet SDK significantly advances the network’s functionality. This development kit allows any decentralized application (DApp) to incorporate robust decentralized communication features easily. It utilizes the user’s wallet or the assets contained within to establish their online identity, simplifying user interaction while enhancing security and maintaining privacy.

Epochs, as periodic cycles in the Sylo Network, play a crucial role in maintaining its operational efficiency. Defined by a set number of blockchain blocks, epochs typically last days, weeks, or months. Each epoch marks a fresh cycle of updates to the stake directory, reallocating peers to different Seeker Nodes based on performance, and adjustments in service pricing. These intervals are essential for reducing the gas costs of on-chain activities, ensuring that changes in network parameters are predictable and manageable.

Sylo’s network infrastructure is designed to support reliable and scalable communication through Sylo Nodes, which function as routers to manage data flow across the network. These nodes are responsible for the asynchronous delivery of communication packets, ensuring that data transmission remains efficient and secure. The decentralized nature of the communication layer guarantees that the network is resistant to censorship and external disruptions, providing a resilient platform for user interactions.

Incentives play a crucial role in the sustainability and efficiency of the Sylo Network. Nodes within the network are compensated through Sylo Tickets, an innovative off-chain payment mechanism, for their services. This system not only motivates node operators to maintain high service standards but also aligns their activities with the network’s overall performance and security objectives.


Source: sylo whitepaper

The next section will discuss the specific incentives that drive the Sylo Network, examining how these mechanisms foster a cooperative and high-performing network environment. These incentives ensure that despite the decentralized nature of the platform, the quality of service remains high, promoting a robust and user-centric communication ecosystem.

Incentives

The Sylo Network has established a dynamic incentive structure designed to optimize the efficiency and reliability of its decentralized communication services, primarily through its Incentivised Event Relay. This system plays a critical role by facilitating message passing between users on mobile devices, ensuring continuous communication even when recipients are offline. Central to this process are the Seeker Nodes, which are essential for maintaining the network’s integrity and responsiveness.

Incentivization within the Sylo Network is ingeniously structured around Sylo Tickets, a form of probabilistic micropayment that rewards Seeker Nodes for their relay services. This mechanism not only scales payments efficiently but is also designed to integrate seamlessly with existing and future blockchain scalability solutions, like side-chains and rollups. By utilizing Sylo Tickets, the network ensures that each relay conducted by the Seeker Nodes is compensated, incentivizing them to maintain high service delivery standards.

Seeker Nodes operate under a strict protocol where all messages remain encrypted, preserving the privacy and anonymity of communication. The nodes are frequently reassigned among users to prevent any single node from analyzing traffic patterns over time, thus enhancing pseudonymity across the network. These nodes are compensated based on the accuracy and timeliness of their service, aligning their financial incentives with the overall health and efficiency of the network.

The Sylo Network’s incentive model is robust, ensuring that nodes are interchangeably functional and that there is no dependency or lock-in effect for users on any specific node. This model promotes a competitive environment where nodes are driven not only by potential earnings but also by the intrinsic value they provide to the network. The payment for relay services is executed only upon the successful completion of service, ensuring that all parties act in good faith to support the network’s operations.

Moreover, the network employs a trustless reward system where the completion of services and subsequent payments are verifiable without needing any manual input from the service requestor. This system addresses the potential for disputes or fraud, as payments are securely locked in escrow until the service obligations are verifiably met, after which they are released to the service provider. This setup ensures that payments are not only secure but also tied directly to the delivery of services, reinforcing the trustless nature of the interactions within the network.

The event relay protocol within the Sylo Network ensures that once a service request is initiated, the node is sufficiently incentivized to fulfill the request efficiently and reliably. This setup ensures that service delivery aligns with the expectations without continuous oversight or interaction from the requestor, embodying a truly decentralized service protocol. The system is cleverly designed to resolve potential conflicts where a service is deemed completed by one party and not the other, using cryptographic proofs that secure the integrity of service transactions.

Nodes that consistently meet or exceed service expectations benefit from increased rewards, while those that fail to meet standards may suffer penalties or reduced future opportunities. This performance-based incentivization ensures high service quality and reliability across the network. Each node’s performance and reliability are crucial, as they directly impact its ability to compete for and win future relay tasks.


Source: sylo.io

In conclusion, the Sylo Network’s incentivized structure fosters a highly efficient and reliable decentralized communication service. Through the strategic use of Sylo Tickets and a performance-based reward system, the network ensures that each participant, whether a node operator or a user, is engaged in a mutually beneficial relationship.

Sylo Use Cases

Sylo extends beyond traditional messaging by leveraging blockchain technology to empower users with control over their data and communication. This innovative approach enables several practical applications:

  • Decentralized Messaging and Calling: Users can send messages and make calls directly through the Sylo Network. This service ensures privacy and security, with no central servers that can be compromised, allowing for uninterrupted, private communication anytime, anywhere.
  • Financial Transactions: Sylo integrates a digital wallet that allows users to securely store, send, and receive cryptocurrencies directly within the app. This facilitates seamless peer-to-peer transactions without needing a third party, bridging the gap between crypto payments and everyday usability.
  • Business Communication Solutions: Businesses can utilize Sylo’s technology to create private communication channels. These channels offer enhanced security for sensitive information exchange, making them ideal for industries requiring confidentiality, such as legal, medical, and financial sectors.

In conclusion, Sylo is not just a messaging app but a comprehensive solution for secure communications and financial transactions. By harnessing the power of blockchain, Sylo provides a scalable and versatile platform that addresses the privacy and security demands of modern users, promoting a more connected yet secure world.

What is the SYLO Coin?

SYLO token facilitates secure and decentralized communication within the Sylo network ecosystem. Its maximum supply is capped at 10 billion units, of which 2.43 billion (24.3%) are already in circulation (May 2024).

The SYLO coin is integral to the Sylo Network, functioning as a utility token across the Sylo Protocol to support various services within its decentralized communication framework. In a blockchain environment, SYLO tokens are essential for establishing connections, enabling distributed storage, managing real-time communication costs, and maintaining user profile and address book management. These functionalities are critical for maintaining the efficiency and reliability of the Sylo application.

Within the Sylo application itself, SYLO serves multiple roles. It allows users to access connected applications, functions as a means of payment, and can be used to purchase services that enhance confidentiality within the decentralized network. Additionally, users earn SYLO through referral fees associated with these connected applications.

For broader application use, SYLO is required by connected applications for accessing the protocol, which may include an application fee, paying referral fees, and accessing promotional opportunities within the Sylo application. This creates a versatile ecosystem where SYLO is both a facilitator and a reward mechanism, enhancing the user experience and engagement.

Further enhancing its utility, SYLO can be configured by users to access content in Sylo Storage, providing a secure and private method to store and sell content within the network. This capability emphasizes the token’s role in facilitating secure, private exchanges and storage solutions, reflecting the core principles of the Sylo protocol.

Token Distribution

10% Platform Incentivisation: Tokens allocated to incentivize the adoption of the network. These tokens will be used over time for platform growth initiatives to benefit the network and community.

25% Sylo Protocol Platform Tokens: This allocation is for further development of the Sylo Network, the Sylo Smart Wallet, DApps, and other platform initiatives.

20% Token Generating Event: These tokens were allocated to token buyers during the Sylo Project’s 2018 TGE. These tokens are unlocked and make up the Sylo tokens initial circulating supply.

12.5% Token Generating Event: These tokens were allocated to token buyers during the Sylo Project’s 2018 TGE. These tokens became available to buyers in January 2021.

10% Team/Dev Allocation: This ensures core Sylo contributors are incentivized to further the project for years to come. 50% was allocated in October 2020, then 25% in each of October 2021 and 2022.

22.5% DN 3010 + Advisors: These tokens were allocated to DN 3010 Ltd, the original creator of the Sylo Protocol and the Sylo Applications and Advisors. These tokens were locked until October 2020.


Source: sylo.io

Sylo’s Main Features

Sylo integrates advanced digital tools into everyday communication and transaction processes, encapsulating essential features emphasizing privacy, simplicity, and functionality. This integration ensures users maintain complete control over their digital interactions within a secure environment.

Sylo Smart Wallet

The Sylo Smart Wallet centralizes control over assets, contacts, and communications into one secure location. Users own their data, facilitating private connections without external oversight. It operates without traditional user accounts, relying on wallet addresses for operations. The wallet supports multi-blockchain interactions, allows users to send and receive digital currencies and assets securely, and even initiates audio/video calls, redefining how personal data and finances are managed.


Source: sylo.io

Micro-payments

Sylo’s network utilizes off-chain micro-payment tickets, facilitating scalable and low-cost transactions across its decentralized framework. These micro-payments support a vast range of services within the Sylo ecosystem, paying nodes with token-backed tickets that only charge users upon successful transaction validation. This innovative payment system caters to a future where decentralized services overshadow traditional financial mechanisms, emphasizing efficiency and reduced reliance on intermediaries.


Source: sylo.io

Native Integration

Sylo’s native integration capabilities allow users to leverage SYLO tokens within the Sylo Smart Wallet for various services. This includes spending on tiered private storage, subscription-based extended functionalities like encrypted group video calls, and unique in-app features like cryptographic stickers. The wallet’s versatility extends to sending payments directly within chats, highlighting its utility in everyday digital interactions.


Source: sylo.io

Overall, Sylo establishes a comprehensive platform where privacy, ease of use, and social connectivity converge, offering a sophisticated yet user-friendly environment for managing digital lifestyles. Through these features, Sylo not only supports modern digital needs but actively enhances the user experience by integrating financial transactions and communication within a single ecosystem.

Is SYLO a Good Investment?

Sylo offers a well-constructed communication layer and peer-to-peer messaging that cater to growing demands for decentralized communication platforms. Its focus on privacy and autonomy, supported by an innovative micro-payment system, highlights its potential utility. However, widespread adoption could be challenged by the complexity of blockchain technologies, which may deter less tech-savvy users. This technological barrier could limit its broader usability and integration into everyday applications, impacting its potential growth in a competitive market.

How to Own SYLO?

To own SYLO, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and get it verified and funded. Then, you are ready to go through the steps to buy SYLO.

News on Sylo

According to what was reported on Sylo’s official Twitter channel in March 2024, staking is now active on the Seeker Network. Exclusive to Seeker owners, this feature allows them to stake SYLO tokens and earn rewards. The staking process begins on 11 March 2024 NZT, with a rewards cycle of just seven days. This update is part of a closed beta focusing on strengthening the network, crucial for the open metaverse, with further expansions planned as the system evolves.

Take Action on SYLO

Check out SYLO price today, and start trading your favorite currency pairs.

Author: Mauro
Translator: Viper
Reviewer(s): Matheus、Wayne、Ashley
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.io.
* This article may not be reproduced, transmitted or copied without referencing Gate.io. Contravention is an infringement of Copyright Act and may be subject to legal action.

What is Sylo (SYLO)?

How Does Sylo Work? Communication Layer and Incentives

Sylo Use Cases

What is the SYLO Coin?

Sylo’s Main Features

Is SYLO a Good Investment?

How to Own SYLO?

News on Sylo

Take Action on SYLO

What is Sylo? All You Need to Know About SYLO

BeginnerMay 16, 2024
Sylo is revolutionizing digital communication with a secure, decentralized network for messaging, calls, and cryptocurrency transactions.
What is Sylo? All You Need to Know About SYLO

What is Sylo (SYLO)?

How Does Sylo Work? Communication Layer and Incentives

Sylo Use Cases

What is the SYLO Coin?

Sylo’s Main Features

Is SYLO a Good Investment?

How to Own SYLO?

News on Sylo

Take Action on SYLO

Sylo is revolutionizing digital communication with a secure, decentralized network for messaging, calls, and cryptocurrency transactions.

In digital communication, decentralized technologies often overlook mobile users, who may not have constant connectivity. Traditional peer-to-peer (P2P) methods struggle with reliable message delivery and establishing stable connections on mobile devices. To address these challenges, a solution that enhances reliable decentralized communication was necessary, focusing on privacy and user data ownership without relying on centralized servers. This approach ensures practical and user-friendly solutions for mobile users, leading to the development of Sylo, a platform tailored specifically to meet the needs of those using mobile devices for decentralized communication.

What is Sylo (SYLO)?

Sylo, an innovative decentralized communication platform, was launched in 2017, emerging from the development house established in 2010. Designed to address the centralization issues of mobile devices, Sylo offers a secure, private communication means within a decentralized framework. It bridges the gap between the need for constant connectivity and mobile accessibility, focusing on privacy and user empowerment.

The project introduces Seeker Nodes and utilizes Sylo tokens, incentivizing users to contribute to the decentralized services enhancing the ecosystem’s robustness. Over the years, Sylo has evolved significantly from its initial concepts, adapting to the dynamic demands of digital communication while maintaining a strong commitment to user privacy and security.

Under the leadership of individuals like Aaron McDonald and with the support of developers with extensive backgrounds in technology and business, Sylo has made significant strides. The core team’s experience spans across various sectors, including banking, technology, and entrepreneurship, ensuring a solid foundation for the project’s ongoing development.

From its early days to its current state, Sylo has remained focused on creating a decentralized communication environment that is not only secure and private but also accessible to everyone. This commitment is evident in its continuous updates and the strategic expansion of its network capabilities, aiming to revolutionize how we communicate in the decentralized space.

Sylo’s roadmap reflects its dynamic evolution, highlighting completed initiatives such as the Seeker Nodes deployment and network participation through staking. The future focuses on innovations like the Sylo Graph and decentralizing network governance, expanding its metaverse capabilities, and enhancing the Seeker Network. These steps underscore Sylo’s commitment to advancing secure, decentralized communication technology.

How Does Sylo Work? Communication Layer and Incentives

The Sylo Network is a decentralized communication platform that specifically caters to the needs of mobile users who face connectivity and privacy challenges inherent in centralized systems. Traditional communication platforms rely heavily on centralized servers, which not only pose significant risks in terms of data breaches and privacy violations but also often fail to provide consistent service to mobile devices due to their always-on requirement. Sylo addresses these issues by decentralizing data storage, thus enabling users to maintain ownership and control of their data without relying on external servers.

Central to Sylo’s innovative approach is the implementation of Seeker Nodes, which are critical in enhancing connectivity within the peer-to-peer (P2P) framework. These nodes have a unique role in the network—they maintain a publicly dialable address and commit to high-reliability service delivery. This architecture is particularly advantageous for mobile users, who commonly experience difficulties establishing direct connections due to the centralized nature of mobile networks. By leveraging Seeker Nodes, Sylo ensures uninterrupted and secure communication across its network, making decentralized communication feasible and efficient even on mobile platforms.

Moreover, integrating the Sylo Wallet SDK significantly advances the network’s functionality. This development kit allows any decentralized application (DApp) to incorporate robust decentralized communication features easily. It utilizes the user’s wallet or the assets contained within to establish their online identity, simplifying user interaction while enhancing security and maintaining privacy.

Epochs, as periodic cycles in the Sylo Network, play a crucial role in maintaining its operational efficiency. Defined by a set number of blockchain blocks, epochs typically last days, weeks, or months. Each epoch marks a fresh cycle of updates to the stake directory, reallocating peers to different Seeker Nodes based on performance, and adjustments in service pricing. These intervals are essential for reducing the gas costs of on-chain activities, ensuring that changes in network parameters are predictable and manageable.

Sylo’s network infrastructure is designed to support reliable and scalable communication through Sylo Nodes, which function as routers to manage data flow across the network. These nodes are responsible for the asynchronous delivery of communication packets, ensuring that data transmission remains efficient and secure. The decentralized nature of the communication layer guarantees that the network is resistant to censorship and external disruptions, providing a resilient platform for user interactions.

Incentives play a crucial role in the sustainability and efficiency of the Sylo Network. Nodes within the network are compensated through Sylo Tickets, an innovative off-chain payment mechanism, for their services. This system not only motivates node operators to maintain high service standards but also aligns their activities with the network’s overall performance and security objectives.


Source: sylo whitepaper

The next section will discuss the specific incentives that drive the Sylo Network, examining how these mechanisms foster a cooperative and high-performing network environment. These incentives ensure that despite the decentralized nature of the platform, the quality of service remains high, promoting a robust and user-centric communication ecosystem.

Incentives

The Sylo Network has established a dynamic incentive structure designed to optimize the efficiency and reliability of its decentralized communication services, primarily through its Incentivised Event Relay. This system plays a critical role by facilitating message passing between users on mobile devices, ensuring continuous communication even when recipients are offline. Central to this process are the Seeker Nodes, which are essential for maintaining the network’s integrity and responsiveness.

Incentivization within the Sylo Network is ingeniously structured around Sylo Tickets, a form of probabilistic micropayment that rewards Seeker Nodes for their relay services. This mechanism not only scales payments efficiently but is also designed to integrate seamlessly with existing and future blockchain scalability solutions, like side-chains and rollups. By utilizing Sylo Tickets, the network ensures that each relay conducted by the Seeker Nodes is compensated, incentivizing them to maintain high service delivery standards.

Seeker Nodes operate under a strict protocol where all messages remain encrypted, preserving the privacy and anonymity of communication. The nodes are frequently reassigned among users to prevent any single node from analyzing traffic patterns over time, thus enhancing pseudonymity across the network. These nodes are compensated based on the accuracy and timeliness of their service, aligning their financial incentives with the overall health and efficiency of the network.

The Sylo Network’s incentive model is robust, ensuring that nodes are interchangeably functional and that there is no dependency or lock-in effect for users on any specific node. This model promotes a competitive environment where nodes are driven not only by potential earnings but also by the intrinsic value they provide to the network. The payment for relay services is executed only upon the successful completion of service, ensuring that all parties act in good faith to support the network’s operations.

Moreover, the network employs a trustless reward system where the completion of services and subsequent payments are verifiable without needing any manual input from the service requestor. This system addresses the potential for disputes or fraud, as payments are securely locked in escrow until the service obligations are verifiably met, after which they are released to the service provider. This setup ensures that payments are not only secure but also tied directly to the delivery of services, reinforcing the trustless nature of the interactions within the network.

The event relay protocol within the Sylo Network ensures that once a service request is initiated, the node is sufficiently incentivized to fulfill the request efficiently and reliably. This setup ensures that service delivery aligns with the expectations without continuous oversight or interaction from the requestor, embodying a truly decentralized service protocol. The system is cleverly designed to resolve potential conflicts where a service is deemed completed by one party and not the other, using cryptographic proofs that secure the integrity of service transactions.

Nodes that consistently meet or exceed service expectations benefit from increased rewards, while those that fail to meet standards may suffer penalties or reduced future opportunities. This performance-based incentivization ensures high service quality and reliability across the network. Each node’s performance and reliability are crucial, as they directly impact its ability to compete for and win future relay tasks.


Source: sylo.io

In conclusion, the Sylo Network’s incentivized structure fosters a highly efficient and reliable decentralized communication service. Through the strategic use of Sylo Tickets and a performance-based reward system, the network ensures that each participant, whether a node operator or a user, is engaged in a mutually beneficial relationship.

Sylo Use Cases

Sylo extends beyond traditional messaging by leveraging blockchain technology to empower users with control over their data and communication. This innovative approach enables several practical applications:

  • Decentralized Messaging and Calling: Users can send messages and make calls directly through the Sylo Network. This service ensures privacy and security, with no central servers that can be compromised, allowing for uninterrupted, private communication anytime, anywhere.
  • Financial Transactions: Sylo integrates a digital wallet that allows users to securely store, send, and receive cryptocurrencies directly within the app. This facilitates seamless peer-to-peer transactions without needing a third party, bridging the gap between crypto payments and everyday usability.
  • Business Communication Solutions: Businesses can utilize Sylo’s technology to create private communication channels. These channels offer enhanced security for sensitive information exchange, making them ideal for industries requiring confidentiality, such as legal, medical, and financial sectors.

In conclusion, Sylo is not just a messaging app but a comprehensive solution for secure communications and financial transactions. By harnessing the power of blockchain, Sylo provides a scalable and versatile platform that addresses the privacy and security demands of modern users, promoting a more connected yet secure world.

What is the SYLO Coin?

SYLO token facilitates secure and decentralized communication within the Sylo network ecosystem. Its maximum supply is capped at 10 billion units, of which 2.43 billion (24.3%) are already in circulation (May 2024).

The SYLO coin is integral to the Sylo Network, functioning as a utility token across the Sylo Protocol to support various services within its decentralized communication framework. In a blockchain environment, SYLO tokens are essential for establishing connections, enabling distributed storage, managing real-time communication costs, and maintaining user profile and address book management. These functionalities are critical for maintaining the efficiency and reliability of the Sylo application.

Within the Sylo application itself, SYLO serves multiple roles. It allows users to access connected applications, functions as a means of payment, and can be used to purchase services that enhance confidentiality within the decentralized network. Additionally, users earn SYLO through referral fees associated with these connected applications.

For broader application use, SYLO is required by connected applications for accessing the protocol, which may include an application fee, paying referral fees, and accessing promotional opportunities within the Sylo application. This creates a versatile ecosystem where SYLO is both a facilitator and a reward mechanism, enhancing the user experience and engagement.

Further enhancing its utility, SYLO can be configured by users to access content in Sylo Storage, providing a secure and private method to store and sell content within the network. This capability emphasizes the token’s role in facilitating secure, private exchanges and storage solutions, reflecting the core principles of the Sylo protocol.

Token Distribution

10% Platform Incentivisation: Tokens allocated to incentivize the adoption of the network. These tokens will be used over time for platform growth initiatives to benefit the network and community.

25% Sylo Protocol Platform Tokens: This allocation is for further development of the Sylo Network, the Sylo Smart Wallet, DApps, and other platform initiatives.

20% Token Generating Event: These tokens were allocated to token buyers during the Sylo Project’s 2018 TGE. These tokens are unlocked and make up the Sylo tokens initial circulating supply.

12.5% Token Generating Event: These tokens were allocated to token buyers during the Sylo Project’s 2018 TGE. These tokens became available to buyers in January 2021.

10% Team/Dev Allocation: This ensures core Sylo contributors are incentivized to further the project for years to come. 50% was allocated in October 2020, then 25% in each of October 2021 and 2022.

22.5% DN 3010 + Advisors: These tokens were allocated to DN 3010 Ltd, the original creator of the Sylo Protocol and the Sylo Applications and Advisors. These tokens were locked until October 2020.


Source: sylo.io

Sylo’s Main Features

Sylo integrates advanced digital tools into everyday communication and transaction processes, encapsulating essential features emphasizing privacy, simplicity, and functionality. This integration ensures users maintain complete control over their digital interactions within a secure environment.

Sylo Smart Wallet

The Sylo Smart Wallet centralizes control over assets, contacts, and communications into one secure location. Users own their data, facilitating private connections without external oversight. It operates without traditional user accounts, relying on wallet addresses for operations. The wallet supports multi-blockchain interactions, allows users to send and receive digital currencies and assets securely, and even initiates audio/video calls, redefining how personal data and finances are managed.


Source: sylo.io

Micro-payments

Sylo’s network utilizes off-chain micro-payment tickets, facilitating scalable and low-cost transactions across its decentralized framework. These micro-payments support a vast range of services within the Sylo ecosystem, paying nodes with token-backed tickets that only charge users upon successful transaction validation. This innovative payment system caters to a future where decentralized services overshadow traditional financial mechanisms, emphasizing efficiency and reduced reliance on intermediaries.


Source: sylo.io

Native Integration

Sylo’s native integration capabilities allow users to leverage SYLO tokens within the Sylo Smart Wallet for various services. This includes spending on tiered private storage, subscription-based extended functionalities like encrypted group video calls, and unique in-app features like cryptographic stickers. The wallet’s versatility extends to sending payments directly within chats, highlighting its utility in everyday digital interactions.


Source: sylo.io

Overall, Sylo establishes a comprehensive platform where privacy, ease of use, and social connectivity converge, offering a sophisticated yet user-friendly environment for managing digital lifestyles. Through these features, Sylo not only supports modern digital needs but actively enhances the user experience by integrating financial transactions and communication within a single ecosystem.

Is SYLO a Good Investment?

Sylo offers a well-constructed communication layer and peer-to-peer messaging that cater to growing demands for decentralized communication platforms. Its focus on privacy and autonomy, supported by an innovative micro-payment system, highlights its potential utility. However, widespread adoption could be challenged by the complexity of blockchain technologies, which may deter less tech-savvy users. This technological barrier could limit its broader usability and integration into everyday applications, impacting its potential growth in a competitive market.

How to Own SYLO?

To own SYLO, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and get it verified and funded. Then, you are ready to go through the steps to buy SYLO.

News on Sylo

According to what was reported on Sylo’s official Twitter channel in March 2024, staking is now active on the Seeker Network. Exclusive to Seeker owners, this feature allows them to stake SYLO tokens and earn rewards. The staking process begins on 11 March 2024 NZT, with a rewards cycle of just seven days. This update is part of a closed beta focusing on strengthening the network, crucial for the open metaverse, with further expansions planned as the system evolves.

Take Action on SYLO

Check out SYLO price today, and start trading your favorite currency pairs.

Author: Mauro
Translator: Viper
Reviewer(s): Matheus、Wayne、Ashley
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.io.
* This article may not be reproduced, transmitted or copied without referencing Gate.io. Contravention is an infringement of Copyright Act and may be subject to legal action.
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