Review on Skycoin by Toprak Dere

Name: Skycoin
Item: Skycoin
Rating: 3

March 26, 2021

About Skycoin

Skycoin is a complete eco system based on an innovative next generation blockchain technology. Skycoin's main goal is to encourage the use of real cryptocurrency instead of speculation. Skycoin's flagship app, Skywire, claims to decentralize the internet at the hardware level.

Skycoin (SKY), a third generation cryptocurrency, is the fuel for the entire ecosystem. Supports 300 TPS, free transactions with less than 2 seconds processing time, 51% resistant to attacks, sustainably protected without energy-intensive mining. It has a default custom transaction with the CoinJoin protocol and pays some dividend in a different currency.

Holding 1 Skycoin in the Skycoin wallet generates 1 Coin Hour per hour. Coin Hours will be the currency you use to process bandwidth and other services in the SKY ecosystem. This makes Skycoin a bandwidth-backed cryptocurrency.

The Skycoin team has made a comprehensive convincing argument about the weaknesses of the current major currencies in the market. Meanwhile, it has come up with a number of attractive solutions that tackle these weaknesses. They seem to live up to their claims on the technological front so far. However, starting at the hardware level, decentralizing the internet is not an easy task. Moreover, their ability to effectively communicate their complex visions will certainly be a constant challenge.

It is impossible to tell whether Skycoin will achieve its enormous visions. But will there be any exciting money to watch out for in the future? We will see it all together. 
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Pros

We see that the fact that SKY con has been in the market for a long time and has a strong platform behind it provides positive comments. Investors consider Skycoin to be a reliable and future platform, and therefore cryptocurrency.
Skycoin (SKY) is a fast and secure cryptocurrency with high bandwidth and high transaction speeds.
Skycoin is the platform designed as a response to the shortcomings of both Bitcoin (BTC) and Ethereum (ETH). According to the statements made, the Skycoin platform was designed free from centralization and manipulation through the revolutionary Obelisk consensus algorithm.
Skycoin functions as a currency with almost free transactions, absolute privacy to be implemented soon, inherent asset-backed value without speculation, and Visa-like speeds.

Cons