Review on Skycoin by Ali Huseynov

What is SKY?

Skycoin (SKY) is a fast and secure cryptocurrency with high bandwidth and fast transaction speed. However, it is said that Skycoin is more than just a cryptocurrency. It has four main components, each of which solves the specific problems of the centralized network system and provides solutions in the Skycoin blockchain-driven cyberspace:

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Skywire: Described as Skycoin's net neutral solution, and provides private web browsing. This decentralized Internet setup is an advanced alternative to the existing Internet.

Skyminer-As the hardware and access point of Skywire, it also provides special energy-saving hardware.

Fiber-An open, decentralized blockchain network that eliminates mining rewards.

Skysuite-As a collection of decentralized applications.

On the other hand, according to the platform, the main goal of digital currency is to reshape the economy, allowing users to independently conduct transactions in a peer-to-peer manner without interference from power. Central. Skycoin strongly believes in this mission. That is why the Skycoin blockchain aims to benefit all users, not just a few users. Skycoin Obelisk aims to solve the inherent problems of PoW and PoS-based cryptocurrencies and provide users with a decentralized and democratic consensus network.

Also, Skycoin does not use the blockchain, so user power cannot be concentrated in a few large mining pools like today's Bitcoin. Therefore, the creation of cryptocurrencies will not allow some users to exercise disproportionate control over the network.

Some people say that the supply of Skycoin is stable. Skycoin transactions occur in a few seconds and the transactions are said to be secure. The platform stated in a statement that through Skycoin, they created an immutable cryptocurrency that can be used as a digital property rather than a political tool to control the network.

SKY Coin Review

We have seen that SKY con has been in the market for a long time, with a powerful platform behind it, and received positive reviews. Investors believe that Skycoin is a reliable and future-oriented platform and therefore a cryptocurrency.

However, it would be useful to look at historical and current data to more clearly assess the price perception of the Sky coin, and investors began to show more interest after 2018.

Its transaction price is 0.5082 US dollars. As of press time, according to CoinMarketCap data, Skycoin ranks 529th in terms of market capitalization, with a market capitalization of US$9,551,560. It is also worth noting that in the SKY coin BTC trading pair, the trading price of this token against Bitcoin is 0.00002723 BTC. In addition, Skycoin (SKY) hit an all-time high of $53.83 on December 3, 2017, and bottomed out at $0.1978 on March 13, 2020. It is also worth noting that SKY Coin currently has 19 million circulation units and the total amount of La will reach 100,000,000 Skycoins.

How to buy Skycoin? You can reliably purchase

SKY coins through Binance, the largest cryptocurrency trading platform by market capitalization. Sky coin was launched on Binance on May 24, 2018. Users can trade SKY/BNB, SKY/BTC, SKY/ETH trading pairs.

Skycoin is a very ambitious project. It is not just a cryptocurrency that wants to compete with Bitcoin. The bigger goal is to rebuild the internet in a world powered by cryptocurrencies through complete decentralization. The platform is supported by the local Skycoin to perform different functions that help the entire network.

Skywire The first part of the

Skycoin ecosystem is Skywire. This part of the ecosystem acts as an Internet Service Provider (ISP). Skywire is private, which means that you cannot be tracked while browsing the web. In short, a virtual private network (VPN). The Skywire community does not need to pay for ISPs that continuously monitor your online activities, but can access Internet services that prioritize privacy.

With the development of Skywire, it will evolve into a wireless network (WMN) where users can earn Skycoin and Coin hours. Users can do this by running hardware nodes that provide bandwidth and storage for the network. The Skywire user also decided on the decision made. The network runs on a "trusted network" system and malicious nodes can be sent across the network. For a node to be exiled, a collective agreement must be reached with the community.

Skyminer

The Skyminer hardware acts as a dedicated VPN server that powers the Skywire network. Skyminer hardware is built with Linux servers and built-in router and network functions. The

hardware is built this way. If part of it is destroyed, other services on the same machine will not be able to run. The nodes that operate on this network will be rewarded. Users can earn Skycoin rewards by helping to build the network.

In Skyminer, the nodes are isolated, which means that each service can run independently and is not attacked by edge services. Skyminer hardware provides a second layer of private browsing by providing Internet access.

Skycoin

has a total supply of 100 million coins, which is indestructible. Skycoin is publicly issued. The more coins that are provided to the public, the slower their speed of distribution. In fact, this empowers society rather than miners or traders.

75% of the token supply is blocked until the first 25 million tokens are distributed. Every year after the first 25 are available, only 5% of the remaining tokens are available. This rate is written in the Skycoin code.

Obelisk

Bitcoin is based on a system called "Proof of Work" (PoW), while Ethereum is based on "Proof of Stake" (PoS). The PoW system includes computers that perform transaction-intensive tasks and receive newly minted cryptocurrency rewards. PoS is a bit different because it prioritizes those with the highest share (wealth).

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