Article Summary, Automatically Generated By AI
About Skycoin Summary
- Skycoin (SKY) is an open-source, community-owned, hardware-based peer-to-peer internet.
- Platform features: completely secure, infinitely scalable, and ISP independent.
- Written in Golang, runs on Obelisk consensus algorithm.
- Obelisk: web of trust dynamics, consensus decisions based on node influence score.
- Skywire: flagship application, decentralizes internet at hardware level, provides decentralized bandwidth, storage, and computation.
Note: There are no specific numbers or figures mentioned in the text.
About Skycoin: Pioneering a New Era of Blockchain Technology
Skycoin (SKY) is an open-source, community-driven, hardware-based peer-to-peer internet ecosystem that harnesses the incentivizing power of blockchain technology.
Skycoin’s platform has been touted as “completely secure, infinitely scalable, and ISP-independent” by the project team. Crafted in Golang and powered by the Obelisk consensus algorithm, Skycoin prioritizes security, usability, and ease of use. The Obelisk algorithm is grounded in the concept of “web of trust dynamics,” which facilitates consensus decisions based on the influence score of each node. Each node subscribes to a select group of other network nodes, and the density of a node’s network of subscribers determines its influence on the network, thereby fostering a decentralized and resilient ecosystem.
Skywire, the flagship application of Skycoin, is poised to revolutionize the internet at its core by decentralizing it at the hardware level. Beyond providing decentralized bandwidth, Skywire’s ambitious objectives encompass the provision of storage and computation capabilities, thereby redefining the fabric of the internet.