[ICO Review] Sylo ICO – The tech that helps you stay you

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What is Sylo ?

The Sylo Protocol is a decentralized communication protocol that facilitates safe and standardized connectivity between users and Connected Applications on the Sylo network. Development is underway to implement the Sylo Protocol as a fully decentralized autonomous communication, storage, and payment network for utilization by third-party Connected Applications.

Sylo Protocol

The Sylo Protocol acts as the confidential networking layer for all integrated decentralised applications, creating peer-to-peer (P2P) connections and providing an efficient way for users to interact and exchange data confidentially over the network. The Sylo Protocol consists of client-side APIs and services that allow Connected Applications to confidentially perform communication functions with other users on the network.

BLOCKCHAIN SIGNALLING

Enabling reliable communications

Sylo Signalling will be a decentralised service run by resources on the Sylo Network. Sylo Signalling will provide the ability for peers to connect and is used to send messages and connectivity requests to enable reliable communication. Sylo Signalling Nodes will be remunerated in SYLOs in exchange for providing this service to the network.

DECENTRALISED STORAGE

Sylo Storage

Sylo Storage will be a decentralised network of storage resources that will be utilised by Connected Applications and users on the Sylo Network in exchange for SYLOs. Sylo Storage will append user details (when appropriate) to specific content such that users of Connected Applications retain ownership of all of their decentralised information. Full transparency of saved data can be provided to the users of Connected Applications.

Sylo APP

Download Sylo APP : Google Play, App Store

Finally, the peace of mind to speak and act freely online. Our decentralised information and communication platform means nobody owns you. You choose who you want to connect with. And you decide how much of yourself you want to share.

  • User Profile

    Manage your personal information and identity.

  • Communications

    Confidential voice, video calling and messaging. You can also take payments for your communications.

  • Address Book

    Safely store your contacts and connected apps in the Sylo Protocol.

  • Decentralised Storage

    Full visibility of your data and connected app data.

  • Connected Applications

    Access other DApps in one place through your connected app directory.

  • Token Wallet

    Store any ERC20 tokens in one place. Purchase and trade with a single click.

Pros and Cons

Pros

  • SYLO’s confidential communication will likely entice new users in an era where people struggle to protect their data.
  • SYLO may be able to attract other mobile applications to join the platform as connected apps through features such as connected applications as contacts, and connected applications as embedded features. These features may allow for applications to establish a stronger relationship with users.

Cons

  • It may be difficult for SYLO to experience a significant amount of user adoption. Many messaging apps, like Facebook Messenger, Whatsapp, and Groupme, can all be linked to social media accounts, which may make those platforms seem more practical.
  • People will not buy the token to hold, but rather buy the token to use the platform. This means that the value of the token and success of the project relies heavily on user adoption, and the addition of connected applications to the platform. SYLO has not identified a clear plan as to how they will market their product.

Additional information

Market:

  • The global mobile application market valuation is expected to increase to $94.15 billion by the end of 2024.
  • The global mobile data traffic per month is expected to increase to 49 exabytes per month by 2021. In 2016, the global mobile data traffic per month was only 7 exabytes.
  • By 2021, 2.48 billion users are projected to use messaging applications to communicate.
  • SYLOs decentralized data storage could distinguish it from other platforms that people use for communication like Facebook Messenger or Whatsapp. This could be something that excites prospective platform users, especially with the recent data breaches of sites like Facebook.

Competitive Advantage:

  • The Sylo Protocol consists of client-side APIs and services that allow Connected Applications to confidentially perform communication functions with other users on the network.
  • There will be two distributed services within the platform that make it decentralized: Decentralized signalling (P2P connection establishment, messaging, push notifications) and Decentralized storage.
  • Decentralized Signalling will be used to establish encrypted,P2P connections on demand. These connections are confidential, and all communications are End-to-End Encrypted, from one peer to another. SYLO signalling will be run by resources on the SYLO Network.
  • For asynchronous communications, the Sylo Protocol is used to reliably distribute “in-transit” data, with optional persistent storage on the Sylo Decentralized Storage Network. Sylo Storage will be a decentralized network of storage resources that will be utilized by Connected Applications and users on the Sylo network in exchange for SYLOs.
  • As the key connector for users and Connected Applications in the Sylo ecosystem, the Sylo App will provide the backbone for a new way for parties to converse safely, exchange value, and work together for the mutual benefit of all involved. The key components of the application are profile management, confidential communication, a decentralized address book, decentralized storage, connected applications, and a token wallet.

Team:

    • Overall, the SYLO team has excellent experience as serial entrepreneurs and great experience working with startups, which will likely be helpful in overcoming issues that could arise with establishing the SYLO protocol.
    • Team members have a great LinkedIn presence that increases the project’s credibility.
    • Project Director Brian Russell is an entrepreneur with a deep understanding of emerging technology. He spent 16 years of his career working in leading edge technology in Europe and America. His commercial achievements include being the founder and CEO of Zephyr technology Corp that was acquired by Covidien (COV: NYSE) in 2014. Brian has consulted for NASA and Homeland Security in the US, is a member of the Medical & Military Board of Advisors for NCSU Nanotech Institute, and holds a number of private and public-sector board positions.
    • Another Project Director, Aaron McDonald, is a 20-year tech industry veteran with experience leading teams across all aspects of a technology company. Aaron is currently CEO of Centrality (centrality.ai), one of the world’s leading blockchain venture studios. Aaron has held leadership positions in large technology companies managing portfolios over $1 billion in value across engineering and architecture, product management, product development, marketing, and sales.

Team Members

Token Mechanics:

  • This project has an MVP available at the following link.
  • SYLOs are required by the protocol for connection establishment, distributed storage, real-time charging for communications, and profile and address book management.
  • SYLOs are required by the application for access to connected applications, and used as a means of payment, purchase of confidentiality-enhancing decentralized services, and referral fees. Users can use SYLOs to access content in SYLO storage and buy and sell content in SYLO storage.
  • SYLOs are required by Connected applications to access the protocol, pay referral fees, and access promotional avenues within the application.
  • Token Supply: 10,000,000,000 SYLO
  • The Sylo App will earn referral fees from Connected Applications and will earn tokens from users for value added services in the future. Excess tokens and an Application Fee are returned to Sylo Protocol Pte. Limited, the token-issuing entity, in exchange for ongoing development, maintenance, and support.
  • Smart Contracts enable the fair distribution of value between Connected Applications as users adopt different aspects of functionality from within the Sylo App.

User Adoption:

  • Sylo has already partnered with www.centrality.ai, one of the world’s leading blockchain venture studios, to bring its vision to reality. Centrality has a rapidly expanding portfolio of DApps utilizing their technology and Sylo will be the sole provider of communication and storage to DApps within the Centrality ecosystem.
  • SYLO has a small amount of buzz around the project. The project has about 6300 followers on Twitter, 2900 followers on Facebook, and 7900 Telegram group members.
  • The SYLO protocol and application has familiar communication functionalities for users and businesses, so it will not be difficult for users to switch to the platform.
  • Sylo will help Connected Applications gain success, providing a new channel for their own token utility, while also expanding the usefulness of the Sylo App itself for users incrementally as new apps are connected.

About ICO

  • Token: SYLO
  • Price: 1 SYLO = 0.0087 USD
  • Bounty: Available
  • MVP/Prototype: Available
  • Platform: Ethereum
  • Accepting: ETH
  • Minimum investment: 100 USD
  • Soft cap: 25,000,000 USD
  • Hard cap: 35,000,000 USD
  • Country: Singapore
  • Whitelist/KYC: KYC
  • Restricted areas: USA, China, Singapore, Korea, New Zealand

Project link:

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