The post Synternet Launches Its Data Layer on Cosmos and Commences Pikes Peak Roadmap appeared on BitcoinEthereumNews.com.

Web3 infrastructure project Synternet has launched its mainnet data layer on Cosmos and commenced the next phase of its roadmap. It’s also introduced new use cases for the $SYNT token, whose functionality has been significantly expanded following the mainnet launch. Synternet is at the vanguard of the movement to make web3 data as fast and reliable as that available on the traditional web but without introducing centralization. To achieve this, it’s had to design and deploy a custom network that is fast, responsive, and powered by a token that can support a two-sided marketplace between data publishers and subscribers. Despite its network operating on Cosmos, Synternet supports every major blockchain.  Web3 Gets the Data Delivery It Deserves Blockchains are not designed to store large amounts of data efficiently. Storing extensive data onchain can lead to bloat, increasing the size of the blockchain and making it more difficult for nodes to sync. The solution to this challenge has been to engineer dedicated data delivery chains that are optimized for supplying real-time data while maintaining the decentralization that is integral to web3. Moreover, when blockchain networks are congested, fees can become prohibitively expensive, making frequent data updates costly. The likes of Ethereum and Solana have proven to be general purpose chains with a multitude of use cases, but large-scale data delivery is not one of them. It’s a specialist service that calls for specialized networks designed specifically for this task. Synternet represents the latest thinking on what web3 infra should be: fast, reliable, and low-cost. Its data layer is at the heart of this vision, allowing data providers to stream live data to consumers – typically developers of smart contracts and applications. This solution provides an alternative to oracles, which incur a higher computational burden and thus can be costlier to query.…

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Filed under: News - @ June 29, 2024 2:14 pm