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Assessment (Tick the appropriate box) * Poll is created on Apr 17, 2021

  
  
  
  
  

SYLO


cryptoquestion
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Sylo

Operates a decentralized data exchange. Operator of the SYLO smart wallet, which has over 250,000 users.

Description

The Sylo Protocol provides confidential communication as a utility to the Sylo Confidential Communication App. The protocol acts as the confidential networking layer for the Sylo App, creating P2P connections and providing a way for users to interact and exchange data confidentially.

The Sylo Protocol is being developed to provide fully decentralized confidential communication as a utility to all connected-apps within the Sylo ecosystem. Powered by blockchain and combined with other decentralized technologies, this Protocol will act as the networking layer for the Sylo DApp and 3rd-party connected-apps, while providing charging options for specific communications and services over the network.

The fully decentralized Sylo DApp will be the 1st application built on the blockchain-based Sylo Protocol, using technology already commercialized in the Sylo App that’s currently used by thousands globally, available on Apple Store and Google Play Store.

Sylo is a decentralized communication and data exchange network powered by a layer 2 micro payments infrastructure and the SYLO token. User-run Service Peers provide infrastructure to the network which allows developers and businesses to run privacy-first, unstoppable apps without deploying any infrastructure of their own. A staking architecture and unique probabilistic ticketing solution ensure minimal transaction fees and limitless scalability. This scalability is already on show within the project’s flagship app, the Sylo Smart Wallet; a decentralized, private messenger and crypto wallet with over a quarter-million users.

Team

Unlike many of the small and micro-cap cryptocurrencies, Sylo names each of its key members of its management team. The team appears to combine a broad range of talents, skills, and experience which should provide any investor with confidence in this project. This is Sylo’s description of their core team: ‘…combines a deep background in computer science, development, and user experience with the real-world business experience of entrepreneurs, designers, and world-leading technologists. Both in experience and attitude, the strength of Sylo is in its people.’

Our opinion

With a market cap of $23 million and a price of $0.009 SYLO is close to the price target we set of $0.01 back in February. The team has already demonstrated it is a force to be reckoned having developed and launched its smart wallet which has over a quarter-million users. It also has a decent-sized community following it. We have ranked the coin a 5 in terms of risk as the team has already achieved a level of success however the potential has not been fully recognized in the price. We still believe SYLO represents good value.

 

Name

Sylo

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