How does Synthetix protocol work?

Could you kindly elaborate on the operational mechanism of the Synthetix protocol? I'm particularly interested in understanding how it functions and what are the key components that drive its efficiency. Could you also explain the role of Synths in this protocol and how they contribute to its overall functionality? Additionally, I'm curious to know about the security measures employed by Synthetix to safeguard its users' funds and transactions. Could you provide some insights into these aspects as well? Thank you for your time and assistance.