SKY-SkycoinDetailed Description

SKY-Skycoin Detailed Description

Skycoin is the next generation of distributed encrypted digital currency. The Skycoin project started around the release of Litecoin (around 2010). It is the successor and replacement of Bitcoin, aiming at security, ease of use and convenience. In terms of characteristics, various features of Bitcoin are targeted to make up for the defects of Bitcoin. Skycoin solves the problems and limitations inherent in the design, implementation and configuration of Bitcoin. Skycoin meets the needs of users' output as a transaction medium, realizes full availability, and can still run under the condition of low-budget hardware, slow network and continuous attack on the network, ensuring a more robust operating environment. Skycoin is committed to becoming a third-generation blockchain, not just a cryptocurrency, but an encrypted Internet.

1. Project introduction

Skycoin solves the problems and limitations inherent in the design, implementation and configuration of Bitcoin. Skycoin meets the needs of users' output as a transaction medium, realizes full availability, and can still run under the condition of low-budget hardware, slow network and continuous attack on the network, ensuring a more robust operating environment.

Project Features

Currency-like attributes: the non-replicability and scarcity give it the credit attribute of currency.
Means of payment: Skycoin can be quickly called to anyone in the world, which is faster and cheaper than transnational bank wire transfer.
Investment Attributes: As the recognition and application of Skycoin increase, its value will also increase. You can participate in global transactions to achieve 7×24 hours of trading, you can buy and sell at any time with T+0; there is no price limit and no fluctuation limit.

Application scenario

Skycoin Miner
The hardware backbone of the unbreakable decentralized internet. It can continuously provide you with bandwidth, storage and CPU power.

Obelisk
"Web of Trust" is a new consensus algorithm that solves the fundamental flaws of PoW & PoS.

Fiber
Skychain platform's infinitely scalable and highly customizable parallel peer-to-peer chain architecture.

Skywire
The new decentralized internet, a wireless multi-hop network, is here to support you.

Skyminer
The hardware backbone for an indestructible decentralized internet. Get paid without knowing it to provide bandwidth, storage and CPU power.

CX
A custom programming language based on Golang. Easy to learn and easy to use.

Coin Hours
Obtained by holding Skycoin, Coin Hours are the payment mechanism for services on the Skycoin platform.

Node
An integral part of the Skywire network, a node can be deployed by anyone to ensure the decentralization of the Skywire ecosystem.

CXO
A peer-to-peer cloud storage service designed to serve the Skywire distributed network.

Coin Join
Native platform supports CoinJoin to provide completely private, untraceable transactions.

SDN
Built-in end-to-end virtual private encryption over Skywire network to ensure privacy.

KittyCash
The most popular app currently built on Fiber. Kittycash is a complete gaming ecosystem.

SkyMessenger
Our fully encrypted messenger service is safe from snoopers and hackers.

BBS
A framework for building distributed social networking services.

Technical Overview

Specialized programming language ensures transaction reliability
CX is a scripting language specially developed for the blockchain, which is part of the entire development process of Skycoin. Smart contracts on the platform provide more reliable guarantees.

Incomparably safe sky wallet
Sky wallet is a safe and easy-to-use intuitive html wallet, which is an Angular 2.0 wallet based on usability. Skycoin has developed a brand new wallet standard. The wallet is generated from a 256-bit seed. The wallet seed is easy to remember and is not easy to make mistakes. It does not rely on computers, mobile phones or printers. It allows records to be recorded on paper for safe and long-term storage, and there are enough digits to prevent violent cracking.

A core consensus mechanism to avoid mining Obelisk
Unlike Bitcoin, it replaces the network consensus algorithm of PoW and PoS. The centralization of the Bitcoin network caused by mining eliminates the human factors that rely on network operations and solves the 51% attack problem. Regardless of financial resources and computing power, even if most nodes are malicious nodes, transactions cannot be overturned . It really solves the Byzantine generals problem in information communication and ensures the reliability and validity of information communication.

Specifically, the consensus is completed by the nodes who are willing to participate in the consensus judgment using Skycoin's consensus algorithm. The node that produces the block broadcasts the hash value of the candidate block across the network. All network nodes receive hash values including candidate blocks, perform ownership authentication, fraud detection and collect information samples of candidates. When one of the nodes completes the number collection, the winner is determined through data guessing. This includes the determination of the public key of a block given a sequence number. When the intensity of network problems, maliciousness, or sabotage falls below a certain level, a majority of nodes will agree on the same hash code. Furthermore, nodes can compare themselves to other networks and initialize the blockchain in appropriate situations, such as in the case of lost blocks due to network connectivity issues.

High transaction efficiency
The size of the Skycoin blockchain can be adjusted to cope with the improvement of transaction efficiency, so the confirmation time of transactions on the blockchain can be as low as 4 seconds, avoiding the Bitcoin that is so popular today It is possible for the fork problem to occur, but the user does not need to purchase expensive hardware for the output block.

Skywire VPN that guarantees anonymity and network security
Skywire (sky chain) is a communication platform in the center of the point-to-point area, which can resist most attacks on the Internet. The blockchain platform running on the mesh network can be truly completely decentralized and anonymous, so it can run more reliably.

Skycoin uses the traditional ISP optical fiber, but uses the peer-to-peer wifi mesh network of the user based on neighbors and communities in the last mile to reach the user. Only the nodes associated with you can know your IP address, and others can only Get your public key. Skycoin has developed a high-performance, privacy-preserving routing protocol. Users earn Skycoins by contributing resources to the network and pay resources for using network resources. This protocol is designed to run on the traditional Internet, and the nodes have established a wifi physical connection in the last mile of optical fiber and equipment. Users can get Sky Coins by establishing Sky Chain VPN distributed network nodes. The long-term goal of Skycoin is to create remote peer-to-peer wifi links that bypass existing internet providers.

Two. Comment

Skycoin is the next generation of distributed encrypted digital currency. The Skycoin project started around the release of Litecoin. It is the successor and replacement of Bitcoin, aiming at security, ease of use and convenience. Make targeted improvements to various features of Bitcoin to make up for the defects of Bitcoin.

1. Project introduction

Two. Comment

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