The New Internet For The New World
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.
Synth - Founder
Synth, one of the earliest contributors behind Bitcoin, started Skycoin 8 years ago with a vision of creating a new, decentralized Internet. He sits on the advisory boards of several cryptocurrency projects. Synth has a background in mathematics, distributed systems, and symbolic logic.
ARCHITECTURE OF THE NEW INTERNET 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 proprietary 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.
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.
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.
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.
SKYWIRE MINER: HARDWARE FOR THE NEW INTERNET
The Skywire “miner” is meticulously designed and configured to provide a backbone for the new internet. Its custom-built hardware exceeds technical specifications to deliver maximum power and performance. Skywire functions as a “miner” for Skycoins. It acts as a specialized VPN, using the following hardware configuration:
-8 CPU boards
-2 GB of RAM per board
-4 CPU cores per board
-64 GB of storage per board
-64-bit Linux (Alpine Linux)
-Gigabit ethernet, 8+1 port switch
Each board features an ARM processor, 2 GB of RAM, and anywhere from 32 to 256 GB flash storage. The hardware is segmented in such a way that even if one service is compromised, the other services on the same machine can’t be. An OpenWRT router with strict packet forwarding rules and access control increases security. The setup can be further customized to consist of 4, 8, 16, or 32 boards. Nodes operating on the Skywire network will be receiving a network incentive reward to help build out the network, in addition to traffic forwarding payments. For the Skywire miners, we’d like to increase this network incentive reward. However, we’re still working out a mechanism for distinguishing the Skywire miners from other nodes, which could be any machine on the network.
The new Skycoin Whitepaper is very detailed and we are very proud of its all-encompassing scope! We highly recommend you do invest the time to read the full whitepaper as well as our additional Skycoin whitepapers. Knowledge is power after all, and we want our Skyfleet to be powerful. However, if you are on-the-go and only have a couple of minutes, we are thrilled to provide the TL;DR here for your perusing pleasure.
To view the Skycoin white paper, please click here