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Sep 27 2017

Five Pillars of Skycoin

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.

(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