What Is Syntropy (NOIA)?
Syntropy is designed to solve issues prevalent in the current Internet framework, including security, privacy, governance, performance, reliability, and ineffective resource utilization. It is based on a combination of technologies that includes blockchain, encryption, optimized routing, and an economic model that enables and fosters the deployment of this architecture.
Within the Syntropy network, payments and validity of service delivered are confirmed and governed by NPoS consensus. Nodes, who contributed to governance, receive
inflationary reward for their work. The financial staking is mandatory for these nodes to secure against possible security breaches. This extends Polkadots tokenomics model to facilitate the bandwidth sharing economy.
Syntropy Storage Key Points
|Circulating Supply||549,623,526.67 NOIA|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Open Internet Economy
Syntropy This enables a trust less, decentralized blockchain-based economy, secured through a staking mechanism that ensures fairness between those sharing and those using spare network bandwidth. Programmable token supply and smart contracts allow for the introduction of incentive mechanisms, such as rewards for nodes participating in consensus as well as a reward redistribution pool for the network infrastructure nodes.
That’s why at first began creating fixed swap pools tailored for the Polkadot blockchain. Fixed swap pools provide a more fair token distribution mechanism while still remaining decentralized. Putting them on a next-generation interoperable blockchain like Polkadot means that the transaction fees for performing decentralized swaps is much more efficient for the user.
Syntropy chain is being developed on Substrate framework with NPoS consensus model coming from Polkadot implementation. NPoS consensus is introduced as a baseline governance layer and extended to sustain the economy of DARP network. Syntropy uses what is known as hybrid consensus. There are two separate parts that comprise the consensus protocol, identical to Polkadot. GRANDPA and BABE. Hybrid consensus splits up the finality gadget from the block production mechanism.
The Syntropy Token is the “gas” which facilitates the value-based economy. It creates the initial financial incentives for this network to be created and then operated by and for the user community. All connections and data sent through any device are accounted in tokens. Hence, the token represents the unit of value derived from an Internet relay and its intrinsic value within the economy.
The details of the tokenomics, consensus protocol, blockchain implementation, etc. may change depending upon conditions in the current regulatory, financial, legal environment and other technical considerations. See full disclaimer in the Open Internet Economy Tokenomics paper.
Syntropy Income from data relaying service is the main source of income for every Relay node running DARP. 15% of all data relaying transaction value is transferred to RP. Relay nodes who cannot earn significant returns from data relaying are still getting rewards for their up time. This new open internet economy helps to align incentives of all system participants and create a new valuable inter connectivity layer over the public Internet.
It introduces an additional utility layer with a unique Relay node role. In order to support growth of the system, Syntropy also introduces an original value redistribution system within this utility layer, called Reward pool, which incentivizes nodes to perform and keeps the system stable at the same time.
Decentralized exchanges are paving the future of digital assets, no less due to the explosive growth of DeFi. At Polkastarter, we strongly believe that the future of DeFi won’t be limited to a single exchange.