What is Syntropy and the NOIA Token?

Written by Ivan on Tech

September 10, 2021

Powered by the native NOIA token, Syntropy is a decentralized network connectivity service using blockchain technology to create a new internet. This new decentralized internet uses economic incentive models to enable the sharing of bandwidth and computational resources. Furthermore, Syntropy aims to solve many of the inefficiencies and impracticalities present in the current iteration of the internet. In doing so, Syntropy is bridging the gap between Web2 and Web3, enabling the seamless transition of data and applications while facilitating new business models and technological advancements.

In this article, we’re going to dive deep into the Syntropy ecosystem. Plus, we’ll discuss the NOIA token, the Syntropy Stack, and the benefits of a decentralized internet. 

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What is Syntropy? Exploring the Syntropy Network

Rebranded from “NOIA”, Syntropy is a blockchain-based bandwidth sharing service that is creating “the new internet”. The internet in its current form lacks privacy and is predominantly trust-based and provider-centric. Furthermore, the provision of data security is often a contract from third parties. Combined with a single-point-of-failure from centralized internet providers that choose profit over performance, the current iteration of the web could be drastically improved in many areas.

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Syntropy is a decentralized, open-source network connectivity project that uses blockchain to address these issues directly. Syntropy provides “next-generation connectivity technology” for the internet. The project enables nodes to share bandwidth and participate in the new data economy and a “global movement to change the internet for the better”. Also, Syntropy aims to solve the issues with the internet in its current form by enhancing security and privacy. The project does this while also improving performance, reliability, and resource usage. Furthermore, the platform enables accountability through governance and offers an economic model that incentivizes the building of Syntropy’s decentralized internet architecture.

Syntropy offers a trustless, user-centric internet where privacy is of the highest importance. Using end-to-end data encryption, Syntropy is creating a new internet. This is achieved by putting users in control of their data, and allowing every user to achieve the best possible connection. This enables teams and developers to create and automate networks using programmable application programming interfaces (APIs) and YAML configuration files. 

Moreover, Syntropy allows users to establish encrypted connections without the need for complex setups or virtual private networks (VPNs). This makes building, scaling, and monitoring applications simple. Plus, the Syntropy network minimizes latency to provide the best possible performance for securing and delivering applications with ease. Syntropy uses the Nominated Proof-of-Stake (NPoS) consensus mechanism. This mechanism enables validators to be nominated to participate in consensus. 

The NOIA Token

The ERC-20 NOIA token is the native utility token of the Syntropy network. Working much like Ethereum gas, the NOIA token enables data transfers and secure connections throughout the network. Also, the NOIA token represents “the aggregate value of information communicated across the Web3 ecosystem” while creating financial incentives for network participation. Every connection or data transfer executed on the Syntropy network requires the NOIA token. 

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Furthermore, the NOIA token is an essential component of the trustless features of the Syntropy network. There are four primary use cases for the NOIA token. Firstly, the NOIA token facilitates the trustless execution of encrypted connections. Secondly, the NOIA token is essential for storing and making changes to network configurations. Thirdly, the token is a medium of exchange for buying and selling bandwidth throughout the network. Finally, the fourth use case for the NOIA token is for routing data throughout the Syntropy ecosystem.  

Moreover, the Syntropy network is adapting to the Polkadot network using Substrate. This will enable qualifying NOIA token holders to run a validator node. Not only will NOIA staking be essential for securing the Syntropy network, but it also provides validator nodes with the opportunity to earn a passive income with crypto. NOIA tokens are currently staked in ERC-20 smart contracts. However, these stakes will be migrated to the Syntropy mainnet on Polkadot upon launch, allowing stakers to participate in consensus and nominate validators.

The NOIA token is available on various crypto exchanges, including Uniswap and Bancor. According to CoinGecko, at the time of writing, the NOIA token is trading at around $0.40, with a market cap of $194.7 million. The circulating supply of NOIA tokens is 479 million out of a maximum supply of one billion.

NOIA Staking

To kick off the “Open Internet Economy”, NOIA staking is currently available for the NOIA ERC-20 token. This will enable Syntropy to build a network of validators for the Syntropy testnet chain. NOIA token holders can stake their tokens ahead of the mainnet launch while upholding the security of the network in its current form.

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The maximum of 500 available slots for validators is now full. To become a validator, users must stake a minimum of 20,000 NOIA tokens. However, any NOIA token holder with 100 or more NOIA tokens can become a nominator. Plus, there is an unlimited number of slots available for nominators. 

All NOIA stakers will receive staking rewards proportional to the size of their stake, with validators receiving more rewards than nominators. Moreover, NOIA validators can stake up to 200,000 NOIA tokens, while nominators can stake up to a maximum of 100,000 tokens.

The Syntropy Stack

As a collection of libraries and tools, the Syntropy Stack makes it simple for developers to integrate secure, encrypted connections into existing applications. Also, the Syntropy Stack can connect with almost any Linux-based system using programmable application program interfaces (APIs), a software development kit (SDK), and YAML configuration files.

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The Syntropy Stack enables teams and developers to create, automate, and scale secure network connections that are optimized. All developers need is a few lines of code. Plus, developers can share between servers on any cloud or machine. Furthermore, teams can install and configure the Syntropy Agent to establish connections between endpoints. Developers can monitor the health of these connections through the Syntropy user interface (UI). Moreover, all Syntropy Stack features can connect to Windows devices to securely access resources remotely and connect to virtual private network (VPN) relays.

Also, Syntropy enables users to create and deploy their own VPNs. Instead of passing the risk on to third-party VPN service providers, Syntropy puts users in control of their data using end-to-end encryption. Thanks to the Syntropy Stack user interface, this is simple. With no complicated setups, Syntropy VPNs allow users to enjoy all the benefits of a traditional VPN while removing the risk of data being sold on to third parties by enabling users to take ownership of their data.

Decentralized Autonomous Routing Protocol (DARP)

Syntropy uses a decentralized autonomous routing protocol (DARP) to analyze and compute pathways throughout the internet. A network of DARP nodes shares information about latency to create an “intelligence layer” to optimize internet routing. DARP nodes that provide the best routing earn NOIA tokens as a reward for their contribution to the network.

The New Internet 

Syntropy is establishing a unifying layer for a new user-centric, decentralized internet. Performance, optimization, and security are at the heart of this new internet. Also, Syntropy technology is highly composable and programmable. Resources are used in the most secure and optimal ways possible. Plus, Syntropy eliminates bottlenecks and other limitations associated with the traditional web to achieve higher levels of scalability for web-based applications and technologies.

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Furthermore, the technologies and services Syntropy provides are all open-source. This creates an ideal environment for the development of a broad and varied ecosystem of interoperable applications. Moreover, the NOIA token provides the new decentralized internet with a decentralized economy upheld by a network of nodes staking the native token. These nodes earn rewards for providing optimal connections and bandwidth usage. Plus, developers receive many incentives to build applications on the Syntropy network.

A new decentralized internet is quickly replacing the current internet. Web3 technologies provide decentralized open-source tools and services that are more efficient and user-centric than anything available on the internet currently.

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Working Towards a Decentralized Internet

Syntropy is not the only blockchain project working towards a decentralized internet. Several projects are taking novel approaches to building a decentralized internet. Examples of this include Internet Computer Protocol (ICP), a protocol that uses storage tokens to provide decentralized storage solutions. Others include the Interplanetary File System (IPFS), Filecoin, and decentralized social media platforms such as BitClout. Together, these projects are creating the infrastructure for a decentralized web, free from intermediaries and centralization.

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Moreover, a decentralized internet marks a move away from siloed information, opening up all kinds of opportunities for data sharing and storage. Plus, this new internet enables blockchain developers and artificial intelligence (AI) practitioners to create a diverse range of tools and applications for emerging industries.

Trust-minimized protocols and applications like the ones mentioned in this article are at the forefront of the Web3 movement. Such technologies aid interoperability and allow programs to be executed on several platforms using platform-neutral languages and internet overlay protocols such as Syntropy.

What is Syntropy and the NOIA Token? Summary 

Syntropy allows a network of nodes to participate in a bandwidth sharing economy and securely connect to an intelligent, trustless network connectivity service. Furthermore, Syntropy aims to replace the current outdated, inefficient internet with a new internet. This decentralized internet aims to put user privacy and resource optimization before profits, enabling participants to benefit from an alternative connectivity layer on the public web.

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Also, real-time applications suffer greatly from poor internet connectivity and performance. Syntropy addresses this by creating economic incentives for the highest-performing nodes to provide connections without latency.

Moreover, the user-centric decentralized internet removes single-points-of-failure while providing a seamless user experience for developers and users of decentralized applications (dApps). Plus, by introducing economic incentives to share bandwidth, the project offers a wealth of opportunities for blockchain developers.

The use of blockchain is becoming increasingly prevalent sector-wide. This includes healthcare, music, art, fashion, real estate, and the energy sector. The implementation of this technology is changing the way businesses operate on a global scale. To find out how blockchain is revolutionizing supply chain management, check out the OriginTrail 101 and Morpheus Network 101 courses at Ivan on Tech Academy. Also, to see how global corporations such as Microsoft, Coca-Cola, and IBM are using blockchain to optimize business practices, check out our Blockchain for Enterprise course!

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