Two Different SNS: Synesis One and Solana Name Service, Find Out Here!

If you've been diving into the world of blockchain and crypto, you might have stumbled upon something a little confusing, two separate projects both using the same token ticker: SNS. 

At first glance, it might seem like they're related, but in reality, Synesis One (SNS) and Solana Name Service (SNS) are completely different entities with different goals, tech, and ecosystems.

In this article, we'll break down everything you need to know about these two different SNS tokens so you can avoid confusion and make informed decisions.

What is Synesis One (SNS)?

Synesis One (SNS) is a completely different beast. Instead of focusing on decentralized identity, it aims to revolutionize AI data generation through gamification and blockchain.

Key features of Synesis One (SNS):

1. Data for AI Training: Users contribute high-quality datasets by playing games, which helps train AI models.

2. Kanon NFTs: These NFTs represent individual words. When AI models like Mind AI use these words, NFT holders get paid.

3. Play-to-Earn Model: Gamified participation ensures users are rewarded for their contributions to AI.

4. Governance & DAO: It’s run as a decentralized autonomous organization where token holders have voting rights.

5. Built on Solana: Like the other SNS, Synesis One also uses the Solana blockchain for its speed and efficiency.

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Market Snapshot of Synesis One (SNS)

Source: Coinmarketcap

Based on latest data, here’s the market snapshots of Synesis One (SNS):

Current Price: $0.002885

Market Cap: $1.31 million

Fully Diluted Valuation (FDV): $2.88 million

Total Supply: 999.99 Million SNS

Circulating Supply: 456.25 Million SNS

24h Volume: $754.53K (up 33.40%)

This data shows steady interest in the platform, it’s worth noting that almost 50% of the supply is currently in circulation.

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What is Solana Name Service (SNS)?

Solana Name Service (SNS) is essentially the domain name system (DNS) of the Solana blockchain. 

Just like how DNS simplifies complex IP addresses into simple website names like google.com, SNS aims to replace long crypto wallet addresses with easy-to-read names like "yourname.sol".

What can you do with Solana Name Service (SNS):

1. Simplifies Transactions: Instead of copying and pasting a 40-character wallet address, you can just send funds to a human-readable name.

2. Boosts Web3 Identity: By registering an SNS name, users can establish a unique identity on the Solana blockchain.

3. Enables Seamless App Interaction: SNS makes interacting with dApps easier and more intuitive.

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Market Snapshot of Solana Name Service (SNS)

Based on latest data, here’s the market snapshots of Solana Name Service (SNS):

Current Price: $0.002689

Market Cap: $6.6 million

Fully Diluted Valuation (FDV): $26.89 million

Total & Max Supply: 10 Billion SNS

Self-reported Circulating Supply: 2.5 Billion SNS

24h Volume: $508.52K (up 20.88%)

This data shows steady interest in the platform, though it’s worth noting that only 25% of the supply is currently in circulation. But compared to Synesis One, Solana Name Service has a bigger market cap and total supply.

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Two Different SNS Tokens: Synesis One vs Solana Name Service

Here’s the key differences of these two different SNS, Synesis One vs Solana Name Service:

Why are There Two Different SNS Tokens?

It might be surprising, but it's not uncommon for different projects to end up using the same ticker symbol, especially in decentralized environments where there is no central naming authority. This is why it's critical for users to do their own research (DYOR) before investing.

In this case:

- Both are built on Solana

- Both are named SNS

- But they serve completely different purposes

So, if you're trading or using either token, always double-check the contract address and project details to avoid costly mistakes.

Conclusion

While they share the same SNS ticker, Synesis One and Solana Name Service are as different as apples and oranges. 

Synesis One is pioneering a whole new way of generating data for AI using blockchain and gamification, whereas Solana Name Service is all about identity and usability in the Solana ecosystem.

If you're excited about decentralized AI, NFTs, and earning rewards while playing games, Synesis One might be worth a deeper dive. But if you're interested in simplifying Web3 interactions, Solana Name Service is your go-to. 

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FAQ

What does SNS stand for?

It can mean either Solana Name Service or Synesis One, depending on the project.

Are these two SNS tokens the same?

No. Despite sharing the same ticker, they are separate projects with different goals and use cases.

Which SNS is better to invest in?

It depends on your interests, Solana Name Service for Web3 identity or Synesis One for AI data and gamified earning. Always DYOR.

Can I use both SNS tokens on the same wallet?

Yes, since both are on the Solana blockchain, you can store and manage them using the same compatible Solana wallet.

What’s the main risk of confusing the two?

The biggest risk is sending your funds to the wrong project or interacting with the wrong dApp, which could result in losing access to your tokens or missing out on benefits.