Silicon Valley’s NFX Guild Picks Synereo to Decentralize the Internet

Silicon Valley-based NFX Guild has announced a partnership with Synereo to develop an ecosystem of decentralized applications on top of Synereo’s blockchain 2.0 platform.

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A ‘Superior Platform’ for Decentralized Apps

Synereo’s blockchain 2.0 platform is a blockchain-based technology stack. According to its developers, Synereo enables applications, sites and web-services to operate without relying on centralized servers, effectively transforming how the Internet works. 

Synereo CEO, Dor Konforty, sees ‘Blockchain 2.0’ as a platform that “scales, isn’t massively replicated but fully distributed, functions as a storage solution, and allows for formal verification of smart contracts.”

Thus, NFX Guild believes such a platform can scale better and facilitate decentralized application (dApps) development contrary to other firms who prefer building dApps on top of more popular blockchains, namely Bitcoin or Ethereum.

NFX Guild announced the Blockchain 2.0 Program, where it will select up to three teams that are actively building their dApps on Synereo’s platform for the next class of the NFX Guild accelerator. In other words, NFX’s next class will consist of dApp developers who build their dApps on top of this platform.

“If you do the analysis, Synereo comes out as the superior platform for developing decentralized apps,” James Currier, Managing Partner at NFX, explained. “It runs fully distributed instead of massively replicated. It’s JVM top to bottom rather than Python. It’s forward compatible versus other platforms anticipating multiple hard- forks.”

He also added:

Synereo has the identity layer built-in, which provides distribution advantages and network effects. Lastly, fine-grained concurrency, versus other platforms’ linearity, provides greater speeds and scalability.

NFX Guild: Not Your Average Accelerator

The dApp development program is accessible only to a select few of the most promising teams. NFX Guild differs from a typical accelerator program by selecting portfolio companies through scouts compared to an open application process. It also focuses on businesses that rely on network effects and holds two annual programs for startups in Silicon Valley.

To kickstart the program, NFX Guild and Synereo will invite developers to participate in a hackathon (date TBA), presenting and developing their dApp ideas. Winners of the competition, as well as handpicked laureates of Synereo’s Project 11 grant project, will be invited to apply to the NFX Accelerator Program. Accepted teams will receive $120,000 USD from NFX as well as an AMP grant from Synereo.

NFX Guild is a mentorship-driven startup accelerator founded by partners and long-term tech investors James Currier, Gigi Levy-Weiss and Stan Chudnovsky. The Guild’s financial backers include CRV, Shasta Ventures and Greylock Partners.

Synereo has recently graduated from the NFX Guild’s unique accelerator program, and has since then raised more than $3.5 million in its ongoing campaign.

What do you think is the most promising platform for a decentralized internet and dApps? Share your thoughts in the comments below! 

Images courtesy of Synereo, wikipedia.org, shutterstock, nfx.com    

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