• [email protected]
  • Mon - Fri: 9:00 - 18:30 GMT
Search
Rss Facebook Icon TwitterCreated with Sketch. LinkedinCreated with Sketch.
bitcoin pr buzz logo
  • HOME
  • OUR SERVICES
    • BITCOIN PRESS RELEASE SERVICE
    • SUBMIT YOUR BITCOIN PRESS RELEASE
  • LATEST PRESS RELEASES
  • FREE CONSULTATION
  • OUR TEAM
  • ABOUT US
    • ABOUT
    • CAREERS
  • RESELLER
Menu
  • HOME
  • OUR SERVICES
    • BITCOIN PRESS RELEASE SERVICE
    • SUBMIT YOUR BITCOIN PRESS RELEASE
  • LATEST PRESS RELEASES
  • FREE CONSULTATION
  • OUR TEAM
  • ABOUT US
    • ABOUT
    • CAREERS
  • RESELLER

Skycoin, the Third-Generation Cryptocurrency Building A New Internet, Announces Updates

  • October 26, 2017
  • Bitcoin Press Release, Ultimate Executive
Skycoin PR

Bitcoin Press Release: Skycoin, the third-generation cryptocurrency of alternative P2P project Skywire,  announces several updates, including a new mobile wallet, new logo and site revamp to reflect its ever-evolving branding and design. Approaching its fifth year of development, Skycoin continues to pursue a “new Internet” under an overarching goal to implement Bitcoin’s original vision and address its underlying problems.

October 26, 2017 Zug, Switzerland: One of the oldest crypto projects in development, Skycoin is an infrastructure project rooted in the basic founding concept of Bitcoin: decentralization. Unlike the peers of its time, it was not forked from Bitcoin nor is it merely another ETH-based token. Instead, Skycoin was built using a completely original and unique codebase, featuring a revolutionary consensus algorithm dubbed “Obelisk” that bore none of the PoW/PoS similarities of most other alts, eliminating the need for miners and operating instead on a Web of Trust.

As part of continuous development, Skycoin has announced several key updates, including the launch of Skycoin wallet v2.0, a new mobile wallet, a new logo, and an ongoing site content and design revamp. It has also initiated work on a range of further developments, such as a Skywire coding rewrite, development of cluster management and global network dashboards, a brand new, quicker Skycoin wallet, and the Skycoin OTC market and exchange federation protocol for enabling decentralized exchange (DEX).

Bitcoin’s old problems have not gone away

When Skycoin launched in 2013, it recognized that the Bitcoin network could not achieve true decentralization. Envisioned by its creator to be decentralized over hundreds of thousands of computers, large mining cartels instead exerted considerable power and influence over the network.

Four years later, little has changed. Mining cartels have only grown in strength, asserting their agendas with punitive effect, as evidenced by the miner-led Bitcoin Cash fork of August 2017. By November 2017, the Bitcoin network may see as many as two further fork splits as a result of miner interests.

Skycoin’s agenda in 2013 was to implement Bitcoin’s original vision and address the underlying issues of the world’s most-used cryptocurrency. Four years on, Skycoin’s mission has only become more relevant.

A third-generation cryptocurrency that solves Bitcoin’s technical weaknesses

Skycoin’s Obelisk is a sustainable alternative that aims to replace Proof-of-Work (POW) as a major solution for blockchain consensus. Inspired by academic research into adversarial distributed time-stamping, it offers strong mathematical security guarantees even when the majority of nodes are hostile.

The immediate benefit is environmental friendliness and minimization of economic profiteering. Skycoin does not waste electricity or consume exponentially growing power. Instead of fees, users will receive “coinhours” for holding coins, which can be put towards transaction fees. Transactions bid to enter a fixed-sized block.

Skycoin is immune to double spending and the 51% attack, regardless of hashing power and/or financial might. Transactions are as fast as they need to be, with as low as four-second confirmations without compromising security.

Skycoin transactions have increased privacy, with native support for advanced CoinJoin features.

Ushering in a new Internet

Beyond addressing Bitcoin’s outstanding technical issues, the Skycoin project envisions a new generation of foundational networking, storage and application primitives – collectively, a new Internet.

Skycoin sees blockchain as one of several new mathematical and algorithmic primitives that will be the founding blocks of the Internet’s successor.

The Skycoin Project

The Skycoin project is a hermetically-contained software/application platform, that operates in parallel to and on top of but independently of the existing internet. Its five pillars are:

1. Skycoin

Skycoin was built first as a standalone solution to Bitcoin’s flaws at decentralization, due to the growing prominence of powerful mining cartels. It features a new consensus algorithm to secure the network through a mechanism called Web of Trust.

2. Skywire

Skywire was created to address centralization problems, but of the Internet itself where large institutions control its infrastructure. It aims for a sustainable democratization of the internet, while enhancing privacy and security.

3. Skyledger

Skyledger is a blockchain platform built with CX and running on top of the Skywire infrastructure. Each developer will have their own independent data storage and are free to hardcode their own chain.

4. An ecosystem of apps

Apps including Sky-messenger, distributed social media (BBS)and file-sharing, all built on top of Skycoin, Skywire and Skyledger.

5. A hardware platform

The Skywire “miner” hardware acts as a specialized VPN operating on Skywire’s new networking protocol based on Multi-Protocol Label Switching.

Skycoin and Skywire: the blockchain and the network

The Skycoin project envisions a symbiotic relationship between Skywire and Skycoin, one that would enable individuals to generate revenue for running the Internet, instead of large ISPs. Any application that works over the Internet can also work over Skywire. Using it will be free but users can pay nodes to receive better bandwidth and priority.

This is the basic model that will provide a long-term demand for Skycoins, which are currently distributed over-the-counter (OTC).

Current project focus

As part of continuous development and to maintain relevance to ever-evolving conditions, Skycoin has announced several key updates, including the launch of a new mobile wallet, a new logo, and an ongoing site content and design revamp.

It has also initiated work on a range of further developments, such as a Skywire coding rewrite, development of cluster management and global network dashboards.

It is also reviewing its distribution plan, which it aims to continue in its current form of limited OTC. It will continue pursuing listing on exchanges but will focus instead on the OTC market and an exchange federation protocol for enabling decentralized exchange (DEX).

A range of of hardware “miners” are also planned for release on a soft date of March 2018, with 300 initial units planned.

To learn more about Skycoin, please visit: https://www.skycoin.net/

The Team:

The Skycoin Project has been in continuous development for over eight years and is currently

led by a team of experts in the field of mathematics, cryptography, engineering, programming and marketing. Some of them include:

Synth, Architect and Project Figurehead

Synth has a background in mathematics and cryptography and is the face of Skycoin. Telegram: @haltingstate

Steve, Developer and Project Manager

Steve wrote most of the Skycoin software in 2013-2014. Github: https://github.com/gz-c

Michael Terpin and Richard Kastelein, Marketing Advisors

Terpin is an experienced marketeer with a CV that includes the likes of Coinovate, CoinAgenda and BitAngels. Kastelein brings experience with asset launches and news, working with Blockchain News and CryptoAssets Design Group. Together, they oversee Skycoin’s marketing efforts and manage other counterparts for communication and content production.

Other developers include iketheadore, Monty Crypto, Erich Quist, meam364, Evan, johnstuartmill, nyf, Weng Zhiyi, amherag, logrusorgru and others, who work on the various components of the Skycoin Project.

Learn more about Skycoin: https://www.skycoin.net
Read the Skycoin Whitepapers: https://www.skycoin.net/whitepapers/
Trade Skycoin with BTC at: https://www.cryptopia.co.nz/Exchange/?market=SKY_BTC
Chat with the team on Telegram: https://t.me/skycoin
Join Skycoin at bitcointalk: https://bitcointalk.org/index.php?topic=380441
Follow Skycoin on Twitter: https://twitter.com/skycoinproject

Media Contact:
Name: William Russel
Email: [email protected]
City and Country Location: Zug, Switzerland

Skycoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR.

You found our newsletter subscription!

Did you know that less than 10% of website visitors ever make it all the way to the page end?!

bitcoin pr buzz logo

Blockchain enthusiasts from the start. We have over 7 years experience in Bitcoin marketing specifically: leveraging our unique expertise, partnerships and experience we bring you the most refined, effective, and value for money Bitcoin marketing and Bitcoin press release service to be found.

Please Note:

Press releases are for informational purposes only. The information does not constitute investment advice or an endorsement by Bitcoin PR Buzz. Bitcoin PR Buzz does not certify the accuracy of the information in press releases published on this website.

Issuers of Press Releases, and not Bitcoin PR Buzz, are solely responsible for the content of press releases, and the accuracy of the content in press releases.

Quick Links

  • Press Release Services
  • Submit Press Release
  • Latest Press Release
  • Social Media Service
  • Copywriting
  • About
  • Careers
  • Terms & Conditions
  • GDPR
  • Token Sale Press Release Policy
  • INC verified
Rss Facebook-f Twitter Linkedin

Coins Accepted Here

bprb
Bitcoin News Banner

© 2021 Fintech PR LTD

Welcome to Bitcoin PR Buzz!

Your privacy is immensely important to us and we do our best to safeguard your data. We use cookies to improve your experience and to improve our services. We comply with the EU General Data Protection Regulation act also known as GDPR. We wish you a pleasant stay at bitcoinprbuzz.com, if you have any questions please feel free to chat with us below or email [email protected]

I ConsentCookie settings I need more information
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

  • →
  • Contact Us

    Contact Form

  • Telegram