Major June Announcements
The Skycoin community has many reasons to pop the champagne and celebrate!
The Skycoin team is delivering not just one announcement, but multiple announcements for today alone!
As some of the community may have noticed in our flurry of recent news, today marks the start of Skycoin’s Month of Announcements.
In a continual effort to keep the community up to date on Skycoin’s incredible progress, alongside our weekly development updates:
We are extremely pleased to say that the announcements today are just the start for this month.
But before we get into today’s announcements, here’s a brief summary of recent news you may have missed:
- Skycoin began trading on LAToken, providing yet another exchange for people to get access to Skycoin.and will be available in BTC, ETH, USDT, and LA pairs.
- Bitbns added a USDT pair, alongside the existing INR pair, as well as starting a trading competition.
- CX Blockchain Beta was released, allowing developers to start building on the platform.
- CX Labs launched, aiming to encourage the creation of apps using CX and Fiber chains with rewards and bounties.
- The Skywallet has been developing rapidly, and the Coin Hour Bank is progressing solidly in the Private Beta.
And now, the Skycoin team is extremely proud to update the community with a breakdown of the announcements being made today:
Announcement 1: Coin Hour Burn Reduced to 10%
Skycoin users who have been hoarding Coin Hours in anticipation of the Coin Hour Bank and exchange listing will rejoice to know that:
The Coin Hour transaction burn rate has been lowered significantly to only 10%.
The old burn rate was 50%, which means that users will now have 40% more Coin Hours remaining in their wallet when a transaction is executed on the Skycoin network. In light of the imminent release of the Coin Hour Bank, this translates to a significant gain for users!
Please note, you can only benefit from the lowered burn rate if you use the latest official wallets!
Coin Hours will be required to access the bandwidth on the Skywire network, and will also be used to pay for Dapps and other services built on the Skycoin ecosystem. As such, Coin Hours hold tremendous potential value.
The value of Coin Hours is the subject of huge speculation among the Skycoin community, and the accepted consensus is that the free market will ultimately determine the value of Coin Hours.
Once Coin Hours are listed on an exchange they could be traded in order to see where supply and demand pegs the price. An update on this will be available later on in the month.
Announcement 2: Skycoin Wallet Update v0.26.0
The Skycoin team is excited to announce an incredible update to the official Skycoin desktop wallet.
New key features include:
Coin Hour Burn Reduction
As mentioned above, the Coin Hour Burn rate has been reduced to 10%.
Desktop wallet users must update to version 0.26.0 or newer to benefit from this burn rate reduction.
Buying Skycoin In-Wallet
Through what can only be called a major boost to Skycoin liquidity through in-wallet swaps, users will now be able to conveniently purchase SKY for Bitcoin (or a few other cryptocurrencies) directly from their wallet without having to go via an exchange.
This new service is provided by an integration with Swaplab, and makes buying Skycoin even easier, safer and faster by removing the need to register with an exchange!
Start by ensuring you have the most recent version of the Skycoin desktop wallet. Download the latest version, 0.26.0 or higher, from skycoin.net/downloads.
Watch the short tutorial here:
Or follow the guide here.
The wallet has also been updated to bring native language support to our Chinese and Spanish users. This expands Skycoin’s reach significantly to include a billion potential Chinese users as well as half a billion potential users from South America who can feel right at home in the Skycoin fold.
We believe the updated, feature-rich Skycoin wallet beautifully complements the Skycoin ecosystem comprised of the Skycoin currencies, Skywire’s distributed and secure mesh network, the blockchain programming language called CX, the Obelisk consensus algorithm, and the highly scalable blockchain platform called Fiber.
Skycoin continues to deliver on all fronts!
Announcement 3: Celebrating Skywire’s Testnet Anniversary
We are also very excited to celebrate the 1 year anniversary for the Skywire Testnet today!
The year has flown by, and we are extremely proud of our supportive community that has been growing the Skywire network at an amazing pace.
And to show our appreciation, we are happy to announce:
We will be increasing the rewards for the month of June by 10%!
More details can be found here.
We are extremely proud of the team’s progress, and very grateful for the community’s amazing support.
Although that’s everything for today: we cannot wait to release our next major announcements to the community over the coming month and near future, so stay tuned!
Aptly summarised by Synth on Twitter recently.
This is only the beginning.
Please find the video summary of these announcements here.