The significance of the genetic code in the synthesis of proteins lies in its role as a template for translating DNA sequences into functional proteins. The genetic code consists of codons, which are sequences of three nucleotides that correspond to specific amino acids. During translation, ribosomes read these codons, ensuring the correct assembly of amino acids into polypeptides. This process is critical for maintaining cellular functions and supporting life by driving the formation of enzymes, hormones, and structural proteins, thereby influencing an organism's traits.