Auckland, New Zealand, Dec. 03, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Software development firm Sylo has officially launched Oya, a complete reimagining of their backend architecture that leads the way for mainstream decentralisation.
Centering around the release of user-run nodes, the technology released in the Oya launch is the final pivotal stage of the long-held Sylo vision to democratize access to communication and financial capabilities, without sacrificing privacy, personal data and user experience.
Through Oya, Sylo transforms its over a quarter of a million users into empowered participants able to easily take part by either strengthening the Sylo Network through their usage, or by extending the power and reach of the network by running a Sylo Node. Special attention has been given to transform these technical concepts into simple realities, and everyday users will be able to participate in these previously complex technologies by means of straightforward UI in their Sylo Smart Wallet.
Benefits to Sylo users include the provision of fast, consistently reliable, and fully decentralised communication and financial capabilities, through privacy-preserving apps such as the Sylo Smart Wallet, as well as the ability to run and own a Sylo Node, providing communication and storage services on the Sylo Network and to receive rewards for their contributions. In time, the reward system will shift towards the full incentivization model as outlined in the Sylo Incentivisation whitepaper.
For decentralised apps, the launch of Oya results in the ability to run without a single point of control, all whilst scaling at rates of experience quality never before possible. Overall, the outcome of Oya is a powerful user-run network that can scale to support millions of users, transactions, apps, and businesses.
Further extending into the ability to provide world citizens with access to freedom of choice, additional benefits of the Oya launch functionality include the ability to create micro-networks. These can be simply created by a group of friends all utilising one person’s Sylo Node, resulting in a mini ‘mesh’ style network that does not even require the support of the Sylo Network to provide communication.
After nearly a year of concentrated work from the Sylo backend development team, the Oya launch solves many of the previously unworkable issues experienced by decentralised technologies, propelling decentralisation forward to a real-world, viable solution for Sylo users everywhere. It also sets a solid base for exciting functionalities such as stake and yield opportunities, like Sylo Social DeFi, which will be released to the Sylo Smart Wallet in the coming months.
“We consider the Oya Launch the beginning of mainstream decentralisation,” says Ben Jordan, Sylo Co-Founder and Product Director. “We’ve solved the hard issues of scalability, performance, and fair-reward in a decentralised setting, allowing developers to build apps with a real competitive advantage. The launch of Oya brings our vision of a future worth looking forward to, a whole lot closer and we’re really excited about what can be built on this new decentralised foundation.”
“The Oya Launch opens the door to a plethora of new features and business opportunities, many of which we will be unveiling over the next two quarters,” says Dorian Johannink, Sylo Co-Founder and Business Director.
ENDS
ABOUT SYLO
Sylo is an international software development house founded in 2010. Committed to decentralisation, they are the core developers of the Sylo Network, the Sylo Protocol and the Sylo Smart Wallet. A next-gen app, the Sylo Smart Wallet sleekly combines a digital asset wallet with a decentralised private messenger. The app allows users to request and receive payments in chat, store and interact with digital assets such as BTC or any ERC-20 compatible token like SYLO, in a non-custodial wallet, utilise a Web3 Ethereum dApp browser, and pay using cryptocurrency in the real world.
For further announcements, follow Sylo on Twitter, Medium or visit www.sylo.io.
Download the Sylo Smart Wallet from the Google Play or Apple App stores.
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Media contacts:
Anabela Rea
Content & Public Relations Manager
Sylo
anabela@sylo.io
Susan Joseph
Lumos Labs
susan@lumoslabs.co