New Zealand-based software development firm Sylo has officially launched Oya – a complete reimagining of backend architecture leading the way for mainstream decentralisation.
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. 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 coming months.
“We consider the Oya Launch the beginning of mainstream decentralisation,” says Ben Jordan, Sylo Co-Founder and Product Director. “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.”
“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,” said Dorian Johannink, Sylo Co-Founder and Business Director.
Additionally, Sylo has deployed wallet support for public blockchain Tezos in their multi-chain wallet-messenger decentralised app, the Sylo Smart Wallet, which currently boasts over 250,000 users around the world. The Tezos blockchain supporting firm TZ APAC is advising Sylo on technical integration of Tezos, to improve developer experience and increase adoption of the Sylo wallet in relation to Tezos in the Asia Pacific region.
Leading public blockchains such as Ethereum and Tezos provide a platform for dApp developers like Sylo to build user controlled, censorship-resistant applications on a distributed network, beyond the purview of a single authority. In the integration process, the Sylo team has touted the high-quality developer experience of building on Tezos, especially in comparison with Ethereum. The relative ease by which this integration has been accomplished is a key signifier that Tezos is a prime choice for those looking to build powerful dApps. The decision to integrate Tezos is the latest high-profile collaboration that Sylo has actioned to bring value to its growing user base, which now covers more than 70 countries.
As of today, Tezos functionality is officially live within the Sylo Smart Wallet, supported by the Oya launch, a trifecta of functionality encompassing user-run nodes, speed-parity with mainstream centralised messengers and integration of XTZ into the Sylo messaging framework.
Sylo’s decision to integrate Tezos opens the door to a wealth of new opportunities across DeFi, dApps, fiat and more, all underpinned by the power of the Tezos blockchain. “Baking”, which serves to validate “blocks” in the Tezos blockchain and ensure the stability and security of the network, is already in the pipeline, with additional Tezos-specific functionality to be delivered before the end of the year, the company said.
Centring around the release of user-run nodes, the technology released in the Oya launch is the final pivotal stage of the long-held Sylo vision to democratise access to communication and financial capabilities, without sacrificing privacy, personal data and user experience, the company said in a press release.
Through Oya, Sylo transforms its over a quarter of a million users into empowered participants able to easily 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. Everyday users will be able to participate in these previously complex technologies by means of straightforward UI in their Sylo Smart Wallet.
Benefits to Sylo users include the provision of fast, consistently 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. 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 never before possible. Overall, the outcome of Oya is a powerful user-run network which can scale to support millions of users, transactions, apps, and businesses.