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Similar offerings exist, like Liquid and Stacks, that also promise the ability to issue digital assets on Bitcoin. However, Carvalho explained why Synonym chose Omni instead. Omni allows users to focus on whether they trust each individual token owner alone," he said. Synonym's goal is to enable society to function without trusting intermediaries or asking for permission from big banks or tech companies.
By leveraging Bitcoin and the Lightning Network, the company aims to replace trusted intermediaries with an "Atomic Economy" powered by open-source software that puts the user back in control. Our hypothesis is that if we can achieve minimal conversion with a circular economy and minimal data redundancy with localized webs of trust , we can replace the violent oppressive legacy economy with a self-regulating reputation-aware social economy that obsoletes banks, governments, and Big Tech.
Bitcoin is core to that goal since it provides a global and permissionless monetary network to backbone the new web, and Lightning is central to unleashing sound money's full potential. Synonym's LSP, Blocktank, seeks to bring that power to everyday users with convenience. User control in the form of key ownership and true sovereignty is central to Synonym's mission, as well as choosing the right tool for the job.
As a result, that is where much of the company's and Carvalho's criticism of novel "Web3" narratives, common in the cryptocurrency industry, stems from. We are solving the same problems using Slashtags and Hypercore to establish a new social economy web paradigm without the nonsense of unscalable blockchain bullshit," he said.
Press Releases. By Namcios Jan 12, By Christian Keroles Dec 9, By Namcios Jul 28, By Namcios Nov 17, By Mark Maraia Mar 23, By Namcios May 31, By Namcios Jan 28, By Namcios Feb 9,
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