The Skycoin project is a hermetically contained software/application platform, that operates in parallel to and on top of but independently of the existing internet.
The five pillars of the Skycoin project are:
(1) Skycoin, a coin that is better than Bitcoin in every way technically:
- Transactions faster than credit card instead of an hour.
- Unlimited transaction rate.
- No need for miners and block rewards.
- Low power usage.
- All the problems in the cryptography are fixed (e.g. signature malleability).
- A consensus mechanism superior to anything that exists (Obelisk).
(2) Skywire, a mesh network, where you can get coins for forwarding traffic/bandwidth. This is a similar to Tor or BitTorrent, except that you will be paid to run node.
(3) Skyledger, a platform that is our version of Ethereum’s ERC20, but is better:
- We give every coin their own blockchain and the platform runs on top of the Skywire infrastructure, and we get a fee from that.
- We have a programming language (CX), not “smart contracts” (which we think is total bullshit).
- We let the developers of each chain hardcode whatever they want to do.
(4) An ecosystem of apps being built on top of the previous three things.
- Distributed social media (BBS)) which is sort of like Steemit, but on our infrastructure and platform.
- File-sharing/dropbox type functionality
(5) Our own hardware platform.
Translation bounty for Русский, 한국어, 日本語, 中文: 2.5 SKY
Translation bounty for other languages: 1.25 SKY
Read about the Skycoin Bounty Program