Descrption:The Skycoin Platform is the most advanced blockchain platform in the world. Developed by early contributors to both Bitcoin and Ethereum, Skycoin’s platform is completely secure, infinitely scalable, and ISP independent. Backed by bandwidth, storage, and computational power Skycoin is built to fulfill Satoshi’s original vision.

GitHub skycoin/skycoin
Update Date 2018 Aug 31 09:08:49
Circulating Supply 10,000,000
Total Supply 25,000,000
Max Supply 100,000,000
Price $3.2938988
Volume 24h $271,955
Market Cap $32,938,988
Change 24h -6.98%
Update Date September 26th 2018, 1:46:57 am



Principle and design goals

Skycoin makes free, decentralized payments possible within seconds, allowing truly decentralized global remittance at speeds that could rival any established payments network or e-wallet. Skycoin is creating the first fully scalable, protocol for the next generation of decentralized apps, services and payments.
To ensure stability within the ecosystem, Skycoin holders receive a second currency called Coin Hours. Users are incentivized to hold Skycoin in order to accrue Coin Hours, which pay for Skycoin transfers as well as services and functions within the ecosystem. Coin Hours can also be traded for Skycoin through the Organization’s OTC Buy-Back program, which subsequently burns them to produce scarcity.
Skycoin also has fully functioning software and hardware outside of its existing core components. Skycoin wallets transact seamlessly. Fiber adoption grows on a daily basis. The first generation of hardware has already been built, with further generations of the various components already in production.

The Cryptocurrency Powering Web 3.0 

The Skycoin Project is one of the oldest crypto projects in development, and Skycoin is its first creation. Built as an infrastructure project rooted in the founding concept of decentralization, Skycoin runs on a completely different consensus algorithm, “Obelisk” or a “web-of-trust.” With Obelisk, Skycoin is not susceptible to the weaknesses of PoW and Proof-of-Stake (PoS)
Lightning Fast 

Transactions take as little as 2 seconds. With no bottlenecks or fees, Skycoin is faster than other cryptocurrencies and competitive with credit cards and Apple Pay.
Zero Fees 

Skycoin transactions cost Coin Hours, a separate currency paid to Skycoin holders for each hour they hold a coin.

Built from the ground up in Golang, Skycoin makes full use of time-tested cryptographic standards to ensure transactions can’t be tampered with. Skycoin renders useless such threats as 51% attack, reversal, duplication, and malleability.

Skycoin’s transaction structure was designed to seamlessly adopt the CoinJoin protocol. Once integrated, Skycoin mixes transactions from multiple wallets to ensure they are indistinguishable from one another.

Without the enormous computational energy requirement typical of PoW and PoS processes, Skycoin can run on a 30-watt cell phone processor.

Skycoin is more than a cryptocurrency. It derives inherent value from the Skywire mesh network. Users earn and use Skycoin for providing and consuming network resources.
Utility Backed 

Skycoin’s practical application means it is backed by a real asset: bandwidth.

Technology implementation

Consensus mechanism

The Solution: Obelisk – Distributed Consensus Algorithm 

To tackle this centralization problem, Skycoin uses a distributed consensus algorithm, Obelisk. Obelisk distributes influence over the network according to a web-of-trust. There is no mining, instead the web consists of nodes (e.g. computers, Skyminers, etc.) and each node subscribes to a list of trusted nodes. Nodes with more subscribers hold more influence in the network.
Each node is assigned a personal blockchain that acts as a “public broadcasting channel,” where its every action is publicly recorded and visible. As all consensus decisions and communication occur through the personal blockchains of each node, the community can easily audit nodes for cheating or collusion—without compromising privacy. The nodes are addressed by their cryptographic public key and a node’s IP address is only known to the nodes it is directly connected to. Furthermore, there are no fixed ports and no known plain text in wire format.
The public record left by each node’s personal blockchain allows the network to react to defections by severing connections with less trustworthy or malicious nodes. Under the same principle, if the community feels that power within the network is too concentrated (or not concentrated enough), the community is able to shift the balance of power by collectively changing their trust relationships.
The accountability of nodes to the community and 3rd party audits as well as the transparency of consensus strengthens collective decision-making, and introduces a highly democratic and decentralizing element to the network.
(See Appendix for further reading and technical proof.)

Accounts and transactions

All current Internet alternatives have one critical flaw: they are operated by unpaid volunteers. This leads to situations where the majority of users access network resources without providing anything in return. Skywire solves this problem with its embedded payment protocol. With this protocol, every node effectively acts as a micro-ISP capable of automatic metering, billing, and settlement.
Nodes want to forward traffic and receive subsidies (i.e. Skycoin and Coin Hours). This is the equivalent of “mining” in Skycoin and how many users will earn their first coins. Each node on a route records the volume of traffic it relays and the origin node records the volume of traffic it sends. Bandwidth payments are automatically and periodically settled through a blinded escrow system.
The origin node holds coins in escrow with a third party. A pseudonym
account is created with the third party. Each node can verify the reputation of the origin and its payment ability through the third party, without learning the identity of the party. From the third party’s perspective, all nodes will appear as multiple unlinked pseudonym accounts.
Small transactions will be settled internally, in off-blockchain transactions. The off-blockchain transactions can be withdrawn into a newly generated, never-before-used address once the balance exceeds a threshold (currently 1 Skycoin). This reduces blockchain bloat and encourages micro-transactions to be performed off-blockchain.

Smart contract system

CX Programming Language The CX programming language was developed by the Skycoin team as a deterministic language that can build more than just smart contracts, while also providing greater security and versatility. CX can be used to create decentralized applications, video games, and program FPGA chips. For technical audiences, a detailed overview of the language can be found on the Skycoin blog (see Appendix).


Distributed storage protocol

Skyminers are custom-built hardware VPN units that provide the computing power, networking capability, and storage capacity necessary for the Skywire network’s infrastructure backbone.

Cross-chain and exchange technology

Special technology

Economic model and incentive

Skycoin transactions do not incur fees. Transaction fees, similar to block rewards that incentivize miners to drive up fees at the cost of the network, only create monetary incentives with adverse effects by eliminating transaction fees.
Instead, Skycoin transactions cost Coin Hours—not Skycoin. To earn Coin Hours, users simply hold Skycoin in order to participate in the ecosystem of Web 3.0. For each Skycoin held by an address per hour, its owner nets 1 Coin Hour. Therefore, holding 1000 Skycoin for 1 hour generates 1000 Coin Hours. Exchanges will receive the Coin Hours resulting from Skycoin held on exchanges.
Beyond transaction fees, Coin Hours increase transaction privacy within the Skycoin CoinJoin infrastructure by acting as collateral for mixing. This prevents participants from backing out of or slowing down CoinJoin transactions.

The current Internet incentivizes ISPs to dump their traffic onto other networks as soon as they can through so-called “hot potato routing.” This is good for ISPs but not good for traffic sent over the network. Hot potato routing can lead to greatly increased latency due to the increased number of hops. Skywire circumvents this issue completely. Source nodes using Skywire will always prefer to send their traffic over routes with low latency, cost, and hop count. This creates an economic incentive for an efficient network topology because the rewards for operating a node scale with the amount of traffic forwarded. Additionally, source nodes have complete control over routing and can modify routing protocol to suit their needs. Common scenarios include:
• Optimizing for lower latency network paths for VOIP or gaming 

• Optimizing higher throughput network paths for video and file sharing 

• Bundling routes for redundancy, reduced latency and throughput

Governance mechanism


Application Ecosystem


Fiber is a launchpad for scalable, secure, and decentralized applications by 3rd parties—a necessary solution as more businesses seek to adopt blockchain architecture. With better speed, better security, and better privacy, blockchain can finally reach its potential as a reliable, lightning-fast, versatile foundation for modern business.
Through Fiber, each coin has a separate blockchain that is fully customizable to their needs and equipped with all the benefits of Skycoin technology:
• Low energy consumption 

 • Near-instant transaction times 

• No transaction fees
Because each company has their own blockchain, they do not face the congestion issues seen on platforms such as Ethereum’s ERC-20. This removes limitations that currently prevent many businesses from embracing blockchain technology. For example, energy companies are legally bound to stringent operation guidelines (e.g. transaction speeds, reporting, metering, etc.). As both a business value and legal obligation, they cannot risk operations grinding to a halt due to traffic from unrelated organizations. With Fiber, this issue is completely avoided.

Companies have already begun adopting Fiber as the foundation for their blockchain solutions:

Spaco is a decentralized service built on Fiber, running storage and data transfer, a peer-to-peer encrypted Internet browser with built in anti-spam and versatile user-controlled feed filtering, as well as secure future applications in custom site-creation, shopping, games, video, and much more.
MyDailyLife (MDL) Talent Hub 

MDL aims to build a trustchain for the $2.3 trillion entertainment industry. The MDL platform features a unique prosumer-based ecosystem marketplace and micro-KOL (Key Opinion Leader) partnership programs to raise revenue.





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