Skycoin Internet 3.0?
In March of 2019 SKY (Skycoin) was placed on coinmarketcap.com around 200th out of 2108, today (July 2020) it ranks 417th of 2802 cryptocurrencies. Skycoin is promoted as ‘completely secure, infinitely scalable and ISP independent’.
What is Skycoin?
A group of developers that were originally involved with Bitcoin and Ethereum identified the defects inherent in the programming that provided the blockchain.
The project began in late 2010 and finally launched the Skycoin platform in 2015, a complete ecosystem of blockchain technology.
Written in Golang (an open-source programming language that makes it easy to build simple, reliable, and efficient software.) and running on the Obelisk, a consensus algorithm designed by Skycoin with particular focus on security, usability, and ease of use.
The Obelisk was developed to eliminate the problems that were inherent in the blockchain. A ‘web-of-trust’ structure would create an accurate system of checks and balances and allow the community including other nodes the ability to inspect network behaviour with a high degree of accuracy.
Skywire is Skycoins ingenious application that aims to decentralize the internet at the hardware level. However, decentralised bandwidth is only Skywires first objective because the developers want to go way beyond that and provide storage and computation.
A Truly Ambitious Project
The Skywire project is a truly revolutionary shift in both internet development and use, however, Internet Service Providers (ISP’s) have a financial interest in stifling innovation that would wrest control away from their interests. A fast, secure, private and reliable network that is decentralised and community-driven as described by Skycoin, where users will own and control the network’s infrastructure is a direct threat to the all-powerful ISP’s.
Skywire would be a comprehensive ecosystem making present systems obsolete. Time is running out for other developers working on similar projects because Skycoin is leagues ahead of its competitors. Consequently, Skycoin’s golden future is under threat by desperate rivals adamant to seize the crown by any means necessary.
How has Skycoin remained under the wire so long? Why isn’t this project a popular blog? Where are the YouTube video’s telling us about the Skywire project? What happened to SKY coin for it to lose over 200 places on coinmarketcap.com in just two years? The only recent mention of Skycoin in a YouTube video was released this week by Moocharoo.ninja.
Since the launch of Skycoin in 2015 many would-be traders and investors have become disillusioned with cryptocurrencies. Governments have also shown great concern over the volatility of cryptocurrencies. Reports of huge losses and scams have become daily news stories. The sceptics will tell you that ‘if it sounds too good to be true, it probably is’, and let’s face it, Skywire does sound too good to be true!
Are Cryptocurrencies Unusually Volatile?
The volatility of cryptocurrencies has been in the news recently, governments have shown concern over the instability of the crypto-market. It is assumed that they have never followed the Stock market, Forex, Futures or CFD as all these markets are constantly on the move, that is, they are unstable and volatile.
The Governments of the world are aware that fiat currencies are already dead, therefore the development of national digital cash is now underway. China is the first to integrate digital money into its fiscal system.
Fear, Uncertainty and Doubt (FUD)
The opponents to innovative programming and decentralisation have used FUD to discredit the competition. Investors have become nervous hearing of scam after scams involving cryptocurrencies. Internet search engines continue to churn up articles about Skycoin that were published during the last three years that are full of manufactured scandals and false accusations. Just take a look at Skyfud.com a website dedicated to exposing the toxic attacks created specifically to bring down Skycoin.
Skycoins is searching for the holy grail, they are trying to pull the sword from the stone, that is, they are about as ambitious as it gets! However, unlike many of their competitors, they are already delivering on the promise.
The Skycoin project has significantly advanced since its inception back in 2010. It has found solutions to problems that are inherent in both the internet and blockchain. Skycoin has designed and produced Skywire and Obelisk as well as developing the CX, programming language for apps, games and smart contracts, to name but a few of their impressive accomplishments.
Undervalued and discredited, Skycoin continues to work with diligence.
Disclaimer: Opinions expressed at Bitcoin News Agency are not investment advice. Investors should do their own thorough research before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Bitcoin News Agency does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Bitcoin News Agency an investment advisor. Please note that Bitcoin News Agency participates in affiliate marketing.
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