Scalable decentralised payments
Sylo offers a 'layer two' (off blockchain) probabilistic micro-payments system to enable an ecosystem of micro-services.
Using this system, apps and users pay Sylo Nodes for their work with Sylo Token-backed 'tickets.'
Micro-services are paid for with these off-chain ‘tickets,’ providing very low transaction fees and limitlessly scalable transaction volume.
Each ticket has a verifiable chance of winning a prize of staked Sylo tokens. While any ticket is accepted as payment, only winning tickets are redeemed on-chain.About Sylo Tickets
Utility as contribution reward
Sylo Node infrastructure payments
Sylo community members can choose to run Sylo Nodes. Sylo Node runners stake $Sylo Tokens as collateral to ensure they act honestly and fairly. The act of staking then announces their presence as infrastructure contributors.
Without any further user action, their device begins to serve the Sylo Protocol, helping users connect directly (p2p), share privately, host files, and run dApps, for which they earn Sylo Tokens.Run a Sylo Node
Easy Staking and Gift Staking
Utilisation for access and anti-spam
In order to communicate with the Sylo Node Network, a user must stake a small amount of SYLO.
A small reclaimable fee, the requirement for Sylo Nodes to stake limits spam accounts and gives access restriction over accounts that are gift-staked.
When it comes to apps running on the Sylo Network, the business building the app will stake on behalf of their users by default, just like traditional centralised businesses pay infrastructure costs. It is up to the developers utilising the Sylo Network to decide how they manage this. For eg, by paying themselves, requiring their users to pay, or by some other mechanismHow it works
In-dApp spending for services
Users of the Sylo Smart Wallet app will be able to use Sylo Tokens (SYLO) as a spending utility token to pay for:
- Tiered services, such as fully private, encrypted, distributed file storage.
- Subscription services, such as extending the free, private, encrypted video calling for large groups (stream relaying service).
- Add-on functionality, like cryptographic, limited-edition sticker assets for chat and chat mini-games.
- Sending payments and requests as messages within chat, along with any other cryptocurrency with their Sylo Smart Wallet. Try the Sylo Smart Wallet
Sylo enables micro-payments for a range of future use-cases. Help us develop further micro-payment protocols to drive a fairer, more open internet.
Relays and VPS
Fast, cheap, unstoppable p2p payments
Sylo Token payments are fast, cheap, anonymous, and uncensorable.
Build your own
Develop your own decentralised communication, storage or micro-payment application for you or your business.