The development will enable scalable on-line computation and storage without centralized servers.
Following last month’s announcement of Synereo’s decentralized social media platform moving into alpha, the Israeli startup now discloses its underlying Technology Stack, enabling its social network to function without centralized servers - which are normally required for the processing of network activity and the storage of user information.
The company says that the newly revealed technology combines significant improvements on existing decentralized technologies with original developments - providing for the first time scalable decentralized computation abilities on an industrial scale.
Starting from 2017, it will be possible to deploy fully operational applications on the system, without them having to be stored in a centralized location, effectively revolutionizing the way the internet works according to the developers. Until then, Synereo’s social network alpha will be deployed on the company’s decentralized test-network.
Synereo has also recently announced a grant project, inviting developers and entrepreneurs to develop decentralized applications for its platform, to foster the development of a decentralized ecosystem, competing with the current centralized paradigm.
RChain
Synereo’s Tech Stack is composed of 4 layers, built on top of each other. The first layer, called RChain, referred to as 'Blockchain 2.0', which the developers say constitutes a significant improvement on standard Blockchain technology, underlying Cryptocurrencies like Bitcoin and Ethereum.
In contrast to these, Synereo’s RChain is a concurrent and sharded blockchain. 'Sharded' refers to the subdivision of the Blockchain into composable parts, which interlock to make a unified whole, but do not need to be computed all at once (as is the case with the Bitcoin Blockchain). Concurrent means that this subdivision enables different processes to run in parallel without interfering with each other.
Synereo boasts that as a result of this architecture, RChain solves a well known problem of classical Blockchains, troubling the entire industry for years, while enabling Blockchain based systems to be much faster, infinitely scalable and cheaper to maintain.
SpecialK
Synereo says that blockchain is not suited for the storage of heavy media data such as images, videos and text. For this purpose, Synereo’s CTO, Lucius Greg Meredith, developed a unique protocol to distribute this kind of information among Synereo nodes and then retrieve it on demand.
This protocol, SpecialK, has been under active development for over four years, representing an evolution of DHT-like distributed key-value databases. The company explains that SpecialK also provides a monadic domain-specific language, providing programmers with a familiar, unified API where they can access data distributed across the network. Data is distributed with both redundancy and sensitivity in mind, making sure it's available where it's needed, when it's needed, and concealed when it’s not.
Rholang Smart Contract Language
Rholang (Reflective, Higher-Order process Language) is RChain’s native smart-contract programming language, comparable to Ethereum’s Solidity. In contrast to Solidity, however, Rholang is a reflective programming language, based on process calculus, allowing for the parallel execution of processes and the composition of higher-ordered smart contracts on the basis of lower ones, in an efficient and secure way.
The developers say that this grants Rholang an advantage over traditional smart contract languages and blockchain scripts, and puts it in the same category with established programming languages. Java, C#, and Scala have all eventually adopted reflection as a core feature. This is what allows programmers to use programs to write other programs, on which more complex applications can be deployed, and so on. Without this feature, industrial scale development would likely be impossible due to complexity.
The architecture also allows for better safety tests and simulations, a property of utmost importance when it comes to publicly used decentralized applications. Synereo says that the infamous DAO hack, for example, could probably have been avoided if the DAO’s code had been based on Rholang.
Following last month’s announcement of Synereo’s decentralized social media platform moving into alpha, the Israeli startup now discloses its underlying Technology Stack, enabling its social network to function without centralized servers - which are normally required for the processing of network activity and the storage of user information.
The company says that the newly revealed technology combines significant improvements on existing decentralized technologies with original developments - providing for the first time scalable decentralized computation abilities on an industrial scale.
Starting from 2017, it will be possible to deploy fully operational applications on the system, without them having to be stored in a centralized location, effectively revolutionizing the way the internet works according to the developers. Until then, Synereo’s social network alpha will be deployed on the company’s decentralized test-network.
Synereo has also recently announced a grant project, inviting developers and entrepreneurs to develop decentralized applications for its platform, to foster the development of a decentralized ecosystem, competing with the current centralized paradigm.
RChain
Synereo’s Tech Stack is composed of 4 layers, built on top of each other. The first layer, called RChain, referred to as 'Blockchain 2.0', which the developers say constitutes a significant improvement on standard Blockchain technology, underlying Cryptocurrencies like Bitcoin and Ethereum.
In contrast to these, Synereo’s RChain is a concurrent and sharded blockchain. 'Sharded' refers to the subdivision of the Blockchain into composable parts, which interlock to make a unified whole, but do not need to be computed all at once (as is the case with the Bitcoin Blockchain). Concurrent means that this subdivision enables different processes to run in parallel without interfering with each other.
Synereo boasts that as a result of this architecture, RChain solves a well known problem of classical Blockchains, troubling the entire industry for years, while enabling Blockchain based systems to be much faster, infinitely scalable and cheaper to maintain.
SpecialK
Synereo says that blockchain is not suited for the storage of heavy media data such as images, videos and text. For this purpose, Synereo’s CTO, Lucius Greg Meredith, developed a unique protocol to distribute this kind of information among Synereo nodes and then retrieve it on demand.
This protocol, SpecialK, has been under active development for over four years, representing an evolution of DHT-like distributed key-value databases. The company explains that SpecialK also provides a monadic domain-specific language, providing programmers with a familiar, unified API where they can access data distributed across the network. Data is distributed with both redundancy and sensitivity in mind, making sure it's available where it's needed, when it's needed, and concealed when it’s not.
Rholang Smart Contract Language
Rholang (Reflective, Higher-Order process Language) is RChain’s native smart-contract programming language, comparable to Ethereum’s Solidity. In contrast to Solidity, however, Rholang is a reflective programming language, based on process calculus, allowing for the parallel execution of processes and the composition of higher-ordered smart contracts on the basis of lower ones, in an efficient and secure way.
The developers say that this grants Rholang an advantage over traditional smart contract languages and blockchain scripts, and puts it in the same category with established programming languages. Java, C#, and Scala have all eventually adopted reflection as a core feature. This is what allows programmers to use programs to write other programs, on which more complex applications can be deployed, and so on. Without this feature, industrial scale development would likely be impossible due to complexity.
The architecture also allows for better safety tests and simulations, a property of utmost importance when it comes to publicly used decentralized applications. Synereo says that the infamous DAO hack, for example, could probably have been avoided if the DAO’s code had been based on Rholang.
FTX EU Acquisition in Jeopardy? Backpack Does Not Have Court Approval
Executive Interview with Adam Saward | EC Markets | FMLS:24
Executive Interview with Adam Saward | EC Markets | FMLS:24
Executive Interview with Adam Saward | EC Markets | FMLS:24
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Executive Interview with Adam Saward | EC Markets | FMLS:24
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Executive Interview with Johnny Khalil | Tickmill | FMLS:24
Executive Interview with Johnny Khalil | Tickmill | FMLS:24
Executive Interview with Johnny Khalil, Executive Director at Tickmill during FMLS:24
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How Modern Consumer Habits Are Transforming Global Payments
How Modern Consumer Habits Are Transforming Global Payments
The evolution of consumer expectations is reshaping the payments sphere worldwide. From seamless in-store purchases to instant cross-border transfers, the demand for secure and frictionless payment solutions is transforming how businesses and financial institutions approach transactions. But what does this mean for the future of payments, and how can organizations keep up?
On December 4, 2024, Finance Magnates, in partnership with @Visa Direct, hosted a live webinar dedicated to exploring these pressing questions. Industry experts will provided actionable insights into the trends, challenges, and opportunities in global payments, equipping attendees with the tools they need heading into 2025.
DISCLAIMER:
The views and opinions expressed in this webinar are those of the speakers and do not necessarily reflect the views or positions of any entities they represent (including, but not limited to their respective parent companies or affiliates). The views and opinions expressed are based upon information the speakers consider reliable and are intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. No party (speaker or the entities they represent) makes any warranty or representation as to the completeness or accuracy of the information within this webinar, nor assumes any liability or responsibility that may result from reliance on such information. The information contained herein is not intended as investment or legal advice, and readers are encouraged to seek the advice of a competent professional where such advice is required.
#FinanceMagnates #VisaDirect #GlobalPayments #FutureOfPayments #PaymentsInnovation #CrossBorderPayments #SecurePayments #SeamlessTransactions #FinancialInsights #PaymentsTrends #WebinarRecap #BusinessFinance #DigitalPayments #FintechInsights #Payments2025
The evolution of consumer expectations is reshaping the payments sphere worldwide. From seamless in-store purchases to instant cross-border transfers, the demand for secure and frictionless payment solutions is transforming how businesses and financial institutions approach transactions. But what does this mean for the future of payments, and how can organizations keep up?
On December 4, 2024, Finance Magnates, in partnership with @Visa Direct, hosted a live webinar dedicated to exploring these pressing questions. Industry experts will provided actionable insights into the trends, challenges, and opportunities in global payments, equipping attendees with the tools they need heading into 2025.
DISCLAIMER:
The views and opinions expressed in this webinar are those of the speakers and do not necessarily reflect the views or positions of any entities they represent (including, but not limited to their respective parent companies or affiliates). The views and opinions expressed are based upon information the speakers consider reliable and are intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. No party (speaker or the entities they represent) makes any warranty or representation as to the completeness or accuracy of the information within this webinar, nor assumes any liability or responsibility that may result from reliance on such information. The information contained herein is not intended as investment or legal advice, and readers are encouraged to seek the advice of a competent professional where such advice is required.
#FinanceMagnates #VisaDirect #GlobalPayments #FutureOfPayments #PaymentsInnovation #CrossBorderPayments #SecurePayments #SeamlessTransactions #FinancialInsights #PaymentsTrends #WebinarRecap #BusinessFinance #DigitalPayments #FintechInsights #Payments2025
Executive Interview with Elina Pedersen | Your Bourse | FMLS:24
Executive Interview with Elina Pedersen | Your Bourse | FMLS:24
Executive Interview with Elina Pedersen, Chief Revenue Officer at Your Bourse at the Finance Magnates London Summit 2024
#fmls #fmls24 #fmevents #RetailTrading #FintechInnovation #nvidia #DigitalAssets #GlobalFinance #globalbanking
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Executive Interview with Elina Pedersen, Chief Revenue Officer at Your Bourse at the Finance Magnates London Summit 2024
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Executive Interview with Rauan Khassan | TradingView | FMLS:24
Executive Interview with Rauan Khassan | TradingView | FMLS:24
Executive Interview with Rauan Khassan from TradingView at the Finance Magnates London Summit 2024
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Executive Interview with Rauan Khassan from TradingView at the Finance Magnates London Summit 2024
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