Kiwi software company paves the way for mainstream decentralisation
Sylo, the software development company, has launched Oya, which has been described as ‘the beginning of mainstream decentralisation'.
Developing game-changing technology
According to a statement from the company, Oya is 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 stage of the Sylo vision to democratise access to communication and financial capabilities, without sacrificing privacy, personal data and user experience, the company states.
Through Oya, Sylo transforms its more than a quarter of a million users into participants able to 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, the company states.
Benefits to users
Benefits to Sylo users include the provision of fast, 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, the company states.
In time, the reward system will shift towards the full incentivisation 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 that was previously not possible.
The bigger picture
Overall, the outcome of Oya is a 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 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, the company states.
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.
The beginning of a reimagined future
Sylo co-founder and product director Ben Jordan says, “We consider the Oya Launch the beginning of mainstream decentralisation.
“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.
Sylo co-founder and business director Dorian Johannink says, “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.