The blockchain space needs to tackle big challenges like accessing decentralized data efficiently. Many decentralized applications (dApps) rely on Web2 infrastructure for data retrieval, undermining the core principles of decentralization. Synternet aims to solve this issue by offering an interoperable, modular data infrastructure that enables seamless on-chain data exchange.
Synternet is a decentralized data infrastructure platform designed to enable seamless and scalable blockchain data exchange. It provides developers and enterprises with efficient access to on-chain data without relying on centralized APIs. Unlike traditional data providers, Synternet operates through a decentralized data layer that ensures data security, accessibility, and interoperability across multiple blockchain networks.
By removing reliance on centralized APIs, it allows developers to create dApps that are fully aligned with Web3 principles, ensuring true decentralization. This approach enhances security and prevents single points of failure, a common issue in Web2-based data services.
Problem Statement
What Problem Does Synternet Solve?
Accessing blockchain data remains a major challenge for developers and enterprises, largely due to inefficient, centralized solutions. Current on-chain data access mechanisms face several challenges such as:
Centralization in dApps – Despite being built on decentralized networks, many dApps still depend on centralized APIs to access on-chain data. This reliance contradicts the core principles of Web3, exposing dApps to censorship risks, single points of failure, and potential data manipulation by centralized entities.
High Costs of Data Retrieval – Many blockchain data providers charge high fees for API access, making it expensive for developers to retrieve real-time, historical, or analytical data. As more data-intensive applications emerge, the cost burden increases, limiting the scalability of decentralized services.
Lack of Interoperability – With thousands of blockchains operating independently, seamless data transfer between them remains a significant challenge. Each blockchain has unique consensus mechanisms, transaction formats, and storage methods, making cross-chain communication inefficient without an integrated data layer.
Scalability Issues – Existing blockchain data retrieval methods rely on nodes that are often slow and inefficient when handling large volumes of requests. This results in delays, reduced performance, and high latency for dApps, negatively affecting the user experience.
How Synternet Solves These Challenges
Synternet’s modular and decentralized approach addresses these challenges by offering an innovative and scalable data-sharing solution. Unlike traditional blockchain data providers, Synternet eliminates the need for centralized intermediaries, ensuring on-chain data remains decentralized and accessible at scale. Here’s how the platform solves these issues:
Decentralized Data Layer – Synternet introduces a fully decentralized data infrastructure that enables developers to publish and access blockchain data without relying on centralized intermediaries. This ensures transparency, reduces data monopolies, and allows dApps to function in a truly decentralized manner.
Publish-Subscribe Protocol (PubSub) – Synternet utilizes a highly efficient pub-sub model, where data providers can broadcast updates in real-time to subscribers. This removes unnecessary computational burdens from blockchain nodes, ensuring faster and more scalable data retrieval.
Economic Incentives – By introducing a tokenized reward system, Synternet incentivizes data providers to supply accurate and high-quality blockchain data. Participants earn rewards for publishing valuable data streams, while consumers can access real-time information without overpaying centralized API services.
Security & Transparency – On-chain validation mechanisms ensure that the data being published remains accurate, verifiable, and resistant to manipulation. This allows dApps to trust the information they receive without relying on external oracles or centralized verification methods.
Synternet Partnerships
Synternet is expanding its ecosystem through strategic partnerships, strengthening its real-time data infrastructure and increasing adoption across blockchain networks. Key collaborations include:
GraphLinq Protocol: Synternet powers GraphLinq’s cross-chain arbitrage bot, enabling real-time price synchronization between GraphLinq and Ethereum. This integration allows traders to capitalize on early arbitrage opportunities across multiple chains.
Anyone Foundation : Anyone Foundation is now subscribing to Peaq Network’s ecosystem data through Synternet’s Data Layer. This enhances the efficiency of Anyone’s decentralized physical infrastructure (DePIN) devices, network, and developer tools.
Oasis Protocol: Real-time data streams from Oasis Sapphire and Emerald are now available on Synternet’s Data Layer. Developers can integrate live Oasis data into their dApps seamlessly, ensuring secure and permissionless data access.
Injective : Synternet now provides real-time blockchain data from Injective via its Data Layer Portal, with support from Stakin. This integration enhances Web3 builders’ access to instant on-chain insights, improving dApp functionality and analytics.
Tokenomics
The Synternet ecosystem is powered by its native token, which serves multiple utilities within the platform. Below are the key details:
Ticker: $SYNT
Type: ERC-20
Token Distribution:
Our Crypto Talk reached out to the SYNT team for token information, but they stated that tokenomics have not yet been officially released. We will update this section once Synternet releases tokenomics.
Synternet Token Utility
The native token of Synternet plays a crucial role in maintaining the network’s decentralized infrastructure. It is used for transaction fees, staking, and incentivizing data providers to ensure accurate and high-quality blockchain data. Additionally, token holders can participate in governance, influencing the protocol’s future developments and upgrades.
Team
Daniel Haudenschild – CEO: With over 20 years of global financial services experience, Daniel has been focused on blockchain technology since 2015. He began his professional career at Ernst & Young, giving him a strong foundation in both traditional and emerging financial systems.
Jonas Simanavicius – Chief Technology Officer: Jonas has a diverse background in technology, having served as CTO and co-founder of Clouder. His experience spans roles at JPMorgan Chase, where he worked in technology analysis and application development. Additionally, he has taught JavaScript and data structures at the Turing Society, further establishing his expertise in tech education and development.
Kipras Kazlauskas – Chief Financial Officer: Kipras brings a wealth of entrepreneurial experience, co-founding Synternet and Moérie Beauty. He has been involved in various ventures, including the omnichannel call center solution Tellq, which he exited in 2020. His expertise ranges from strategic business development to angel investing, with a focus on innovative tech solutions and operational efficiency.
Project Analysis
Strengths and Opportunities
Interoperability Across Blockchains – Synternet’s infrastructure allows seamless data exchange across different blockchain networks, solving one of the biggest challenges in Web3. By offering an interoperable data layer, it enables developers to build cross-chain applications with real-time data access. This feature makes Synternet highly valuable in a decentralized ecosystem where most blockchains operate in isolation.
Decentralized and Scalable – Unlike traditional blockchain data solutions that rely on centralized intermediaries, Synternet uses a publish-subscribe model to distribute on-chain data efficiently. This not only enhances scalability but also ensures that dApps can access blockchain data without network congestion. The decentralized approach eliminates bottlenecks and improves performance for large-scale applications.
Tokenized Incentives –Synternet’s economic model encourages data provider participation while ensuring an efficient data marketplace. It incentivizes high-quality data streams, creating a self-sustaining ecosystem where participants earn rewards for their contributions. This approach reduces reliance on centralized data providers and ensures continuous availability of accurate data.
Challenges and Risks
Adoption Curve – Synternet’s significant improvements over traditional data providers present a challenge: convincing developers and enterprises to migrate to a new infrastructure. Many projects have deeply integrated existing Web2 solutions, and transitioning to a fully decentralized model requires both technical expertise and a strong incentive structure
Regulatory Concerns – As blockchain data services grow, regulatory scrutiny is increasing. Governments and regulatory bodies may impose restrictions on the storage, access, and sharing of blockchain data. Compliance with global data protection laws remains an evolving challenge that could impact Synternet’s adoption in certain jurisdictions.
Market Competition – Synternet is entering a competitive market with well-established players like Chainlink and The Graph. These projects already provide blockchain data solutions, meaning Synternet must differentiate itself with superior technology, better incentives, and strategic partnerships to gain market traction. Standing out in the crowded Web3 space will require continuous innovation and aggressive adoption strategies.
Conclusion
Synternet is tackling a fundamental problem in blockchain infrastructure—how to access and share on-chain data in a truly decentralized way. By introducing a permissionless data layer, a publish-subscribe model, and tokenized incentives, it presents a strong value proposition for developers and enterprises looking to build without reliance on centralized APIs. Its focus on interoperability, scalability, and economic incentives makes it an ambitious project with real utility.
However, Synternet is entering a competitive and technically challenging space. Established players like Chainlink and The Graph already offer data solutions, and onboarding developers to a new system requires both technical superiority and strong adoption incentives. Additionally, regulatory uncertainties surrounding blockchain-based data services could introduce future hurdles.
For developers seeking a decentralized alternative to existing data providers, Synternet offers a promising approach. Whether it can establish itself as the go-to infrastructure for blockchain data will depend on its ability to execute, attract partnerships, and differentiate itself in a growing market. For now, it remains a project to watch closely as the demand for decentralized data solutions increases.
However, challenges such as adoption barriers, regulatory uncertainties, and competition from established players must be addressed for long-term success. If Synternet can execute its vision effectively and build a strong ecosystem of users and partners, it could become a crucial piece of infrastructure for the decentralized web.
ETH
0.61%
