2 years ago
Private Coin, Anonymous Internet, Blockchain /Token Platform. Skycoin, possibly the most undervalued crypto coin/project at moment. Looking at an indicative value of $800 end of 2018, $2500 2019. The Skycoin project is vast and ambitious, do some research it will blow you away.... What is Skycoin? Below was taken from Reddit. A great candid post by user neo5eva. Essentially Skycoin was started by many original BTC devs in its early days. They branched off from BTC because they saw how the designs were not optimal specifically regarding the inevitable centralisation of miners. Not only that, the BTC code were over 50k lines long (haven't verified this myself) and very poorly written. The Skycoin devs took out all non-essential parts and rewrote the code a few times from ground up and developed Skycoin. Essentially they wanted something that's free, fast, politics free and most importantly decentralised at the level of the infrastructure. Skycoin transactions are verified by miners running the Skywire network and the transactions are free. Skywire nodes receive compensations for data packets transfer rather than verifying Skycoin transactions. By having specifically designed hardware as the basis of this whole network, we are essentially removing the risk of ISPs from ever controlling our traffic when it comes to crypto. Skywire is decentralising Comcast. While the rest of the cryptocurrencies are like decentralising GoDaddy (aka hosting). Synth, the anonymous lead project manager of Skycoin, gave an example that how ISP can spoof the connections between wallets and nodes so you can fool the wallet to transact on a fake BTC network and you'd have no idea (I am not a tech person so I am only parroting what he says, he does sound very convincing though) Skycoin generates Skyhours (1 skycoin gives 1 skyhour every hour) and Skyhour is what you use to pay for bandwidth on the network by paying Skywire nodes per bandwith). One of the most famous devs for Skycoin is a founder for ETH and he co-author Skycoin's consensus protocol called Obelisk. Usually I am very mindful of any coins that are backed by a lot of anonymous devs but Skycoin is a totally different scenario. Originally there were many anonymous BTC devs too because these tin-foil hats wearing people are the EXACT people who'd be developing something as esoteric as BTC in the first place. The anti-government and libertarian demographics. Skycoin is backed by a lot of these people and they want to take it to the next level by decentralising the infrastructure, making it a truly uncensorable internet. I forgot when this happened but once Synth was asked where do they get the funding, he laughed and replied that many of the people backing this project were very early in Bitcoin so they never have to worry about funding. Also it has been confirmed that they have paid millions recently for 3 exchange listing. This will be my personal way of confirming if the funding part is legit. Not only that, within this Skycoin ecosystem, they have built a decentralised social media (called BBS, still not working great though), Sky-messenger, their own programming language (CX), and something called the Skyledger which is the smart contract platform of the ecosystem (similar to ETH). Except Skyledger is going to be many individual chains communicating with each other instead of ETH where all dApps are on a single chain. This interoperative mode of smart contract platforms are actually increasingly popular because it can solve a lot of the scalability issues facing ETH (NEO, ICX, AION, WanChain, ARK, LISK and I'm sure there are more are all developing this similar idea of interoperatibility). As to this thread's original question of: Why haven't you heard about it? I don't fucking know either and when I found out I was completely sold. I have been studying blockchain full time everyday for the past 8 months now and I have a good grasp of everything and this was completely out of my radar. One reason I love Sky is that I find they share A LOT in common with the Monero community. Purely grassroot, no bullshit and sharing a common goal. There are a lot of Sky telegram channels on different topics and many are highly tech focused rather than "when moon" and "when exchange listing". This will be a long long hold because of the scale and ambition of the project but also will be one of the easiest holds for me.
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