If you are an ardent online user with a keen focus on digital currency, this question might have crossed your mind probably as an afterthought after coming across Synereo while browsing web pages. In a nutshell, Synereo hosts crowd funding campaigns where individuals seeking to participate in the Synereo fund raiser can participate
Initially, Synereo was founded in 2014 and its main focus then was to act as a decentralized social media platform whose main objective was to build an ecosystem of attention to reward its users for their attention and to further take advantage of that attention by redirecting it to some relevant content which would consequently motivate the user to act appropriately. The AMP represents Synereo’s content flow currency which serves to amplify information flow in the Synereo’s ecosystem and network. .
By AMPing content, this guarantees a boost in the ability of information to propagate to the chain of peers and other users.This is where the earnings come in as businesses and individuals seeking to bring any information to the users’ attention non-organically must pay to use the AMPs.
Valuation of the AMP
The AMP significantly differs from other cryptocurrencies since it is supported by commodities which are always in demand and can only be purchased by the AMP, whose power inherently represents the attention of its users. As traffic on the Synereo network grows, the AMP effectiveness grows in an attempt to capture the attention of more users. On more mature and larger networks, a given quantity of AMPs boosts the attention of more users to reach the given content which in turn translates to an increase in the value of each AMP.
AMPs were initially built on Omnilayer and assigned as an asset on the Bitcoin blockchain but later Synereo developed its own native block chain (Rchain, which allows for greater scalability) in partnership with Ethereum, creating a prototype capable of data storage and execution of decentralized applications. Initially, Synereo had about 2 billion supply of AMPs and sold around 45 million AMPs during the first crowd funding period. After this sale, about 320 million tokens were burned leaving about 1.6 billion tokens.
As AMPs eventually transition to become the de-facto currency for all Synereo functions, users and business entities such as those in music streaming, distributed markets and content distribution can leverage on the power of Synereo’s ecosystem for the benefits of the end user and eliminate middle men headaches.
Synereo Trading Exchanges
- Poloniex – handles AMP/BTC currency pairs with a bitcoin volume of around 171.793
- Bittrex – handles AMP/BTC currency pairs and a transactional bitcoin volume of about 52.212
- Cryptopia – Also handles AMP/BTC currencies and has a bitcoin volume of about 0.828
