What is skycoin?

Skycoin (SKY)


The cryptocurrency world is still in its infancy. Many people know about it, they know about Bitcoin and other coins. But they don’t know how they work or whether to invest or not.

Skycoin usecase

Skycoin is a blockchain-based decentralized network where everyone can use the internet securely and privately. According to Snyth, head of the team at Skycoin, he says, “The internet gives people the illusion of control. We can do business, consume and socialize instantly using the internet services provided by Amazon, Apple, Google, and Facebook. It seems convenient to many people, but it has a cost of giving up our life to someone else to control it. They track our movements, collect our data and shape our experiences on the internet”.

If that is the case, then the internet freedom is under threat globally. To help solve security and privacy of the internet. The project is driving a new internet revolution to help increase privacy and security for internet users. With the new revolution, Skycoin is designed to fix the problems on the internet and with Bitcoin by implementing the Satoshi’s original vision.

Revolutionary of Satoshi and new consensus algorithms

Satoshi originally wanted to control the Bitcoin network to become decentralized over thousands of computers. Today Skycoin if focused to achieve a true decentralization of blockchain consensus by using the Skycoin’s consensus algorithm.

Skycoin is currently conducting the CDE for a fixed-price sale of 1,000,000 Skycoin (SKY). The money raised will be used to continue the research of data structures and development of consumer marketing and hardware. The goal of the research is to create a better internet for everyone.

To understand better about Skycoin, it is a third-generation cryptocurrency that was created to help solve the security and privacy issues and Bitcoin’s speed. It was founded in 2011 and serves as the foundation for internet security and privacy. The SKY token is currently trading on two exchanges and applications like social media and VPN are coming soon on their Skywire platform. All Skycoin wants it to provide total internet security for everyone.

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