Ecosystem

Architecture of the new internet

Skycoin

Skycoin was created as an answer to the shortcomings of both Bitcoin and Ethereum. Born out of necessity, no other coin was fulfilling Satoshi’s original vision of a fully decentralized digital currency.

Skycoin’s platform is free from centralization and manipulation through its revolutionary Obelisk consensus algorithm. It features CX, a turing complete programming language built from the ground up to allow hundreds of thousands of devs to easily deploy applications to the blockchain. Skycoin functions as a currency with virtually-free transactions, soon-to-be-implemented absolute privacy, and Visa-like speeds with inherent asset-backed value not based on speculation.

Holding Skycoin generates Coin Hours which are used to purchase services on the Skywire network and can be exchanged for more Skycoin.

Fiber

Coin Hours

CX

Coin Join

Skywire

It is fast. It doesn’t suffer from throttling and other service disruptions that you get with large ISPs.

It is private. This means that you can’t be tracked as you browse. Instead of paying $$$ per month to be tracked by the ISP (which then sells your browsing data without permission), the Skywire community will have internet service that protects their privacy.

It is incentivized. Skywire will develop to be a wireless mesh network (WMN). Users can earn both Skycoin and Coin Hours for running hardware nodes that provide both bandwidth and storage to the entire network. Users can then spend earned Coin Hours on content and other network resources, as they choose.

It is secure. Skywire is created by users for users. Users dictate the decisions made on the network and the network operates on a web of trust system where malicious nodes can be cut off from the main Skywire network via collective agreement of the community. This consensus model allows Skywire to be immune from attacks, exploitation and manipulation.

In an era where consumers are consistently being taken advantage of by large corporations in the name of profit, Skycoin’s Skywire network is a breath of fresh air. Skywire gives the power back to the people and creates a stronger, faster, and more secure internet in the process.

Skyminer

Node

CXO

Obelisk

Decentralization in a centralized world.

Obelisk was created out of the shortcomings in the Proof of Work (PoW) and Proof of Stake (PoS) algorithms. Obelisk can never be centralized by mining pools or manipulated by shareholders, meaning it is truly decentralized. Obelisk distributes influence over the network according to a web-of-trust architecture. Instead of miners, the network consists of nodes. Each node gets its own personal blockchain which prevents and quarantines any potential bad actors. These nodes are substantially less expensive to produce, acquire and operate than any traditional miner used for Bitcoin or Ethereum. Obelisk was designed to be a scalable, computationally-inexpensive, zero-waste alternative to PoW. These features enable the algorithm to be run on budget hardware in a sustainable fashion, without wasting electricity or consuming valuable natural resources. Centralization becomes nigh-impossible when virtually anyone is able to operate a node.

Obelisk

Fiber

The infinitely-scalable and highly customizable parallel peer-chain architecture of the Skycoin platform. Fiber is a better-than-blockchain solution, which is transformational in the way that it solves existing problems with distributed ledger technology.

Fiber is the foundation of “cryptocurrency 3.0”, an infinitely scalable network of blockchains laid side-by-side, like strands. Each project hosted on Fiber gets its own fully customizable, private blockchain capable of Visa-like speeds. Each strand added to Fiber strengthens the whole network and constructs the fabric of the entire ecosystem.

Skycoin Fiber does not compete with first and second generation cryptocurrency architectures, it replaces them. From fledgling blockchain projects to enterprises looking for solutions, Fiber is the answer.

Fiber

What is Skycoin?

The original purpose of digital currency was to reinvent the economy so that users could be independently empowered to trade in a peer-to-peer fashion, without interference from centralized powers. At Skycoin, we believe strongly in this mission. That’s why the Skycoin blockchain is designed to benefit all users, not just a select few. With Obelisk, we’re solving the problems inherent in PoW- and PoS-based coins to bring you a decentralized and democratic consensus network.

Satoshi envisioned Bitcoin as a decentralized digital currency. Blockchain networks were intended to democratize finance, eliminating corporate control and spreading power among users. However, Bitcoin and related currencies have become centralized due to their reliance on Proof of Work (PoW) and Proof of Stake (PoS) algorithms, as well as their use of mining to create coins. This centralization defeats the original purpose of digital currencies.

We created the Skycoin blockchain to correct these flaws. The Skycoin blockchain uses a novel consensus algorithm to replace PoW and PoS. It also fixes security problems associated with other blockchain networks and decouples coin creation from the mining process. The result is a fully decentralized cryptocurrency that fulfills Satoshi’s original vision.

The Skycoin blockchain does not use mining, so user power cannot be concentrated in a few large mining pools as it is with Bitcoin today. Coin creation doesn’t give certain users disproportionate control over the network. The supply of Skycoin is fixed. Skycoin transactions occur in seconds and are more secure. With Skycoin, we’ve created an immutable cryptocurrency that functions as digital property, rather than a political tool for amassing control over networks.

Skycoin Development Roadmap

Whitepaper

Skycoin does not have signature mutability, does not have transaction mutability, does not have duplicate coinbase outputs and dozens of other changes and improvements from Bitcoin. Skycoin makes dozens of changes from Bitcoin.

Skycoin produces both academic and technical whitepapers. The academic whitepaper lays out the theoretical and mathematical foundation of Skycoin’s distributed consensus system and its inspirations. The academic paper is focused on the mathematical formalisms, assumptions which allow us to prove security guarantees. The technical papers outlines implementation details, milestones and software architecture. The technical paper is focused on security as a process and defense in depth.

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