Skycoin News
What Is Skycoin ?
Skycoin is a new generational decentralized internet platform. It is the building blocks of which future internet will be built. The Skywire is the internet blockchain of Skycoin, designed to offer incentivized mesh network with much focus on privacy. The skycoin team is upbeat that, skycoin innovative technology will make corporate ISPs to go on extinction.
Skycoin’s platform is secure, scalable and Internet Service Provider dependent. Skywire protocol on the hand offers privacy, anonymity and peer-2-peer mesh network. When the team claim that, Skycoin is built on the platforms of Bitcoin and Ethereum, many were wondering. The truth is that the developers behind this technology were with Bitcoin and Ethereum some years back. Skycoin uses Obelisk consensus algorithm that functions better than PoW and PoS. The obelisk was designed to achieve the aim of real decentralization.
These are the features of Skycoin, they are:
Obelisk(the consensus algorithm),Skywire(internet backbone of Skycoin),Skyminer(the hardware backbone that supports the internet technology),CX(custom built programming language),Fiber(the peer-to-peer architecture backbone of the skycoin)CXO(the storage facility of the skycoin)Nodes(the building blocks of the Skywire network)SDN(the virtual private encryption of the Skywire network),SkyMessenger(Fully encrypted messenger service) and BBS(distributed social network service).
TEAM
The team is made-up of household names in the cryptocurrency industry
Synth heads the team as the founder of Skycoin eight years ago. He is a leader with vast experience in Blockchain industry. He is one of the early contributors of Bitcoin.
Other members include:
- Houwu Chen-he is a co-founder.
- Steve Leonard- he is a co-founder and a Software Developer.
The advisors include:
- Michael Terpin –he is the founder and CEO of CoinAgenda.
- Mike Doty –he is the Co-founder of ARK | Co-Founder of Bitseed.
- Richard Kastelein-he is the founder of the Blockchain News
· Dr John Henry Clippinger –he is the Chief Innovation Officer and founder of Swytch.io.
· Josh Ogle – he is the Chief Executive Officer of Samples.com
Visit the website for more details about the team.
Practical Uses of Skycoin
- The token is used for digital currency for digital bandwidth.
- Skywire will provide blockchain internet services.
- It allows thousands of DApps to run its’ blockchain.
Mining
There is no real mining taking place in Skycoin even though the term “mining” is so much associated with the company. It is just individuals’ contributing to the bandwidth, storage and computation to the network and getting rewarded with Skycoin token.
We hear of Skyminer, it as one method to get rewarded running a node in your phone or any device.
There are other methods; one can get Skycoin token, these are:
Through Exchange
Through building your Neighbourhood/Community
By running a Skywire node and send packets to MPLS networks for Skycoin tokens.
Notes for Investors
Skycoin will have a good ROI and may be a profitable investment option. The present unit price of Skycoin(SKY) is USD 19.10, and the market cap is USD 153,722,904, and the circulating supply is 8,049,879 SKY.
Skycoin(SKY) is a long-term investment and based on people’s forecasts, a long-term increase is expected. Your current $100 investment may be up to $2,250.46 in 2023.
MUST READ!
Cryptocurrency has been volatile and risky in recent. Investing in any cryptocurrency requires one to be careful. Investing in SKY is solely your responsibility and at your discretion. This report is to get the public informed and not for any endorsement of SKY. Seek advice before investing in it.