The platform’s start is planned for September 2016. The Israeli startup claims it to be the first truly decentralised social media with the content, data and monetisation under direct users’ control.

The main difference of the new open-source project from the industry standards such as Facebook and Twitter is that all transactions will be encrypted in a distributed ledger and available to permitted parties only. Besides, according to developers, Synereo is the first fully decentralised communication platform, while its popular counterpart Steemit uses blockchain only for cryptocurrency payments.

The community will operate without any central servers or data centres. Instead, Synereo will pay customers for support of the network with the capacity and computational power of their devices. Apart from that, the founders of the project adhere to the principles of the “economy of attention”: people will receive rewards for the creation and maintenance of high-quality content.

Synereo cannot store personal information, track user's history or use the information for advertising campaigns. If someone wants to draw attention to their personal profile, they will have to pay for it directly to users.

The test version will include the creation of private connections between users, text posting with images, 3-tier content viewing and the ability to use decentralised search. According to founders of the platform, the alpha version is a complete decentralised tech stack that has already been used to create dApps and protocols. The team intends to create and support more decentralised applications and cooperate with other projects to develop the segment. Synereo CEO Dor Konoforti refers to the platform as “Android for the decentralized web”.

Based in Tel Aviv, the company creates tools that allow web applications to exist without central servers. The founders of the startup are a neuroscientist Dor Konoforti and former chief architect of Microsoft Greg Meredith.

Lena Gabdullina