Overview of Skycoin

  • Skycoin functions as a currency with virtually-free transactions, soon-to-be-implemented absolute privacy, and Visa-like speeds with inherent asset-backed value not based on speculation.Holding Skycoin generates Coin Hours which are used to purchase services on the Skywire network and can be exchanged for more Skycoin.
  • Skycoin has a strong use case as modern day internet is becoming censored from all angles and because it’s highly centralized and leaves the control of everything at the hands of the service providers and government who can decide to restrict or ban out rightly what you are able to see on your internet.
  • Skycoin has taken its time to develop and master their niche, product and concept and often cautious with too much marketing, as they know that they need the product down to a T before it’s worthwhile in attracting users not only to invest but utilize the product that has been developed.
  • SkyCoin is  now coming up with a new concept built around a new algorithm created from scratch called Obelisk, and the new platform will be devoid of mining altogether, making it impossible for people with more resources to hold the future currency hostage with their moves.
  • Skycoin also has its own ICO platform called Fiber, their own deterministic programming language, CX, derived from Golang, a private decentralized messenger system called Sky-Messenger, and a decentralized social media platform, BBS.
  • Skycoin Fiber is a blockchain platform that enables other projects to launch their own decentralized applications, similar to the way in which Ethereum enables other projects to launch ERC20 tokens and Initial Coin Offerings.
  • Skycoin, doesn’t have a large market cap, doesn’t have crazy volume, and doesn’t have the biggest name….yet a community is growing and John McAfee got a “tattoo” of it?
  • Skycoin is available as an AppImage which means “one app = one file”, which you can download and run on your Linux system while you don’t need a package manager and nothing gets changed in your system.
  • Skycoin is not mined like Bitcoin as it doesn’t rely on Proof-of-work (PoW) consensus like Bitcoin where computers spend their energy and processing resources and are rewarded in coins.
  • Skycoin price Index provides the latest SKY price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.
  • Blockchain

    Skycoin operates as an ecosystem and includes various artefacts that it supports.For instance, a blockchain application called SkyWire is running already as a feature that will not only decentralize the Internet and bandwidth at the hardware level but will also provide for storage and computation in a decentralized manner.Holding one Skycoin for an hour in the Skycoin wallet entitles the holder to one Coin Hour.This is another currency on Skycoin network that can be used to trade bandwidth and other services within the Skycoin platform.


    Skycoin is a premier project that utilizes blockchain for a newly decentralized networking protocol, replacing IP addresses with public keys for end to end encryption.This revolutionary blockchain has the potential to completely overhaul the current internet & evolve into a "Web 3.0".The implications & real use cases for an earnest change, not only in how we interact in a peer to peer setting, but also putting forth the infrastructure necessary for community based, community controlled networking.If bitcoin was the prototype for decentralized economics; Skycoin is the expansion of that methodology.Skycoin improves on current consensus algorithms with the implementation of Obelisk & the addition of a hardware solution known as the Skyminer.The Skyminer is one of, if not the only physical product a blockchain project has shipped to integrate blockchain solutions into tangible real world obstacles.


    Skybian 3.0 Update Makes Skyminers Easier to Build and Deploy

    The Skycoin Project has updated its Skyimager tool and Skybian software, used to program the computers that form the backbone of its decentralized Skywire

    Skyimager is the name of the open-source tool used to configure and build images for the Skyminer using the custom Skybian software.The latest 3.0 release now includes support for the popular Raspberry Pi OS architecture used on the popular Raspberry Pi single-board computers.This will make creating and running Skyminers based on Raspberry Pi much simpler.(Skyimager also includes support for Orange Pi Prime and Orange Pi 3 boards, which are the boards found in the official Skyminers sold by Skycoin.)

    In addition to some small bugfixes and user-interface improvements, the Skybian 3.0 update also includes WiFi support, so that users can enable Wifi with automatic peering right from Skyimager on the boards they flash.Doing so will allow a board to connect and join the Skywire network automatically.Note: Current Skyminer operators do not need to perform any actions.There's no added functionality with regards to Skywire.The Skybian update is designed to simplify initial setup and help with all future Skywire deployments.


    Skycoin wants users to have a true, decentralized network without a central authority.To accomplish this task Skycoin created a decentralized algorithm called Obelisk to reconfigure the inner workings of the blockchain, Skycoin takes pride in delivering such a network.Its web-of-trust style consensus prevents the development of decentralized power.Skycoin requires no mining, is immune to 51% attack, and transactions occur in seconds.Decisions are made through community consensus, not based on the wishes of a few majority stakeholders.


    In spite of this unfortunate incident, Skywire rewards were distributed as per usual with 24,000 and 16,000 $SKY being awarded to official and DIY miners respectively.Due to our server and domain change to, it is important to note that your rewards emails may wind up in your spam or junk email, so please check them before contacting


    About Skycoin: Skycoin is bringing people what they want: a truly decentralized network without any central authority.Founded in 2011 by early developers of Bitcoin and Ethereum, Skycoin quickly grew into an ecosystem of exciting and ambitious projects, including Skywire, the new decentralized Internet; CX, a revolutionary fully-featured blockchain application programming language; and the cryptocurrency itself, Skycoin — simple to use, with virtually-free transactions that execute almost instantly.

    #1 – What is Skycoin?

    Skycoin is a blockchain platform with a vision to create a decentralized internet.The platform picks up from the centralized web protocols to set up a decentralized, scalable and fast internet system – the Web 3.0.It seeks to resolve the serious problems posed by centralization of the internet in the hands of big companies and governments.

    #3 – How to buy and store SKY?

    Skycoin’s cryptocurrency SKY is available for purchase on exchanges like CoinCodex, Binance, Cryptopia, YoBit, and HitBTC.

    Beginner’s Guide to Skycoin: A Blockchain to Fix The Internet ?

    Skycoin is a very ambitious cryptocurrency project that has a lot of different moving parts.Instead of a single coin it is actually a whole ecosystem of solutions to problems that the blockchain aim to solve.It is a complete platform that is powered by Skycoin to perform different functions and contribute to the network of interdependent systems.The foundation of the Skycoin ecosystem begins with Skywire.

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    How do I buy Skycoin?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Skycoin.

    How Does Coin Hours Work?

    Each Skycoin transaction costs Coin Hours and not Skycoin.To earn Coin Hours users simply have to hold Skycoin and they are paid the equivalent amount in Coin Hours per hour.

    How Does The Obelisk Consensus Method Work?

    The idea behind the Obelisk algorithm is that nodes agree based on a Web-of-Trust consensus.Influence is distributed over the network creating this web of trust.To eliminate mining completely each node on the network connects to a list of nodes that it sees as trustworthy.

    How Is Skycoin distributed?

    The way Skycoin is distributed is open.The more Skycoin currency is released to the public, the slower it will be distributed.This puts Skycoin in the hands of the community instead of miners or traders.The majority of the coin supply (75%) is locked until the first 25 million has been distributed.For every year after the first 25% is unlocked only 5% of the remaining coins will become available.This distribution rate is programmed into the coin’s code.This will ensure that the coin is distributed exactly as the team intended.In this way, the distribution will never overtake user growth.Skycoin is also deflationary and will increase in value.

    How to buy Skycoin (SKY) on SimpleSwap?

    The SimpleSwap team has rethought the process of cryptocurrency exchange to make it simple, safe and comfortable.

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    What Are The Benefits of Skycoin?

    Skycoin is very fast.With transaction speeds close to 2 seconds and no transaction fees it can rival any other cryptocurrency on the market as a payment method.The transaction costs of Skycoin are covered by Coin Hours.This is value paid to Skycoin holders for each hour they hold a Skycoin.

    What do investment analysts think about Skycoin?

    Weiss Research, an investment research firm that rates cryptocurrencies, has given Skycoin an overall rating of “D+”, a technology and adoption rating of “D”, and a market performance rating of “B-“.

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    What Does the Roadmap Look Like?

    Phase 1 or Testnet is already in motion where the first actual Skywire units have shipped to users.The network now functions as an overlay and the traffic will travel over the internet unless the nodes are connect via LAN or WiFi directly.For Phase 2 (Mainnet) of development nodes will connect directly to each other using WiFi.Nodes can also connect to peers using antennas over distances of 5 – 15 km.During this phase the income will not be sustainable for nodes and Skycoin will subsidize node operators.A daily allowance of Skycoin will be distributed equally to all node owners.As the amount of nodes grow, the incentive will decrease as rewards and payment from usage grows.Eventually the subsidy will stop and income will be entirely from the payment for bandwidth.The most exciting development is Phase 3 (Backhaul) where the Skywire network connects directly to the fiber backbone of the internet at a data center and essentially becomes a virtual ISP.

    What happens next for Skycoin?

    SKY and Skywire-meshnet are still in their infancy as previously mentioned.They are not rushing and want things to be right when they release to market.

    What Is Skycoin (SKY)?

    Skycoin is a blockchain project which seeks to create a decentralized, peer-to-peer Internet service in which users provide network services in exchange for cryptocurrency.Skycoin was launched in 2013 and the Skywire mesh network launched in 2019.

    What is Skycoin?

    Skycoin is a Bitcoin-based cryptocurrency.The total supply of the coin is 100 million and coins cannot be created of destroyed.But wait? How do you mine for Skycoin? Skycoin is not mined like Bitcoin as it doesn’t rely on Proof-of-work (PoW) consensus like Bitcoin where computers spend their energy and processing resources and are rewarded in coins.It is also not a Proof-of-Stake (PoS) currency where users are rewarded for simply holding Skycoin in their wallets, like for instance PIVX.Instead, Skycoin has its own, custom consensus method called Obelisk.

    What is Skycoin?

    Skycoin is the native currency that will be used within the decentralised ecosystem that makes up the broader Skycoin project.This cryptocurrency has been worked on for a number of years and, according to the team, is one of the oldest cryptocurrencies in existence.

    What is Skycoin?

    Skycoin is a complete ecosystem based on an innovative next-generation blockchain technology.Skycoin has been developing continuously for nearly 7 years with the first commit dating back to 2013 by early developers of Bitcoin and Ethereum.

    What is Skycoin?

    Skycoin has two primary goals.

    What is Skycoin?

    Skycoin is a currency for digital bandwidth, backed by the new internet.Fast transactions, no transaction fees, Skycoin is a third-generation cryptocurrency supporting a new free and open internet.

    What is Skycoin?

    Skycoin is a cryptocurrency written from scratch in Golang.It does not use PoW nor PoS and relies instead on Obelisk, a network consensus algorithm, replaces both PoW and PoS with a web of trust.Skycoin is focused on core features, security, usability and simplifying Bitcoin instead of adding features as a marketing gimmick.

    What is Skycoin?

    The original purpose of digital currency was to reinvent the economy so that users could be independently empowered to trade in a peer-to-peer fashion, without interference from centralized powers.At Skycoin, we believe strongly in this mission.That’s why the Skycoin blockchain is designed to benefit all users, not just a select few.With Obelisk, we’re solving the problems inherent in PoW- and PoS-based coins to bring you a decentralized and democratic consensus network.

    What is Skyminer?

    The Skyminer hardware is a custom VPN server that provides the infrastructure to power the Skywire network.The Skyminer is essentially a Linux server with an integrated router and networking capabilities.The unit is pre-built but the specs are also available to anyone who would like to build their own Skyminer unit.The server has a quad core ARM processor, 16 GB of RAM and 128GB of solid state storage space.It also has an 8 core Mali450 graphics card.

    What is the OTC Buy Back Program?

    To regulate a healthy economy around Coin Hours, Skycoin will initially fund this OTC Buy Back Program.Users who earn Coin Hours through, for example hardware testing and who will not need to spend their Coin Hours, the company will buy them back.This is funded from the pool of undistributed coins.The company will buy back Coin Hours and give users Skycoin instead.It will in turn destroy the Coin Hours to increase the value and limit the supply.

    What is the Reddit page for Skycoin?

    The official Reddit community (subreddit) for Skycoin is r/SkycoinProject.

    What is the value of Skycoin?

    One Skycoin (SKY) is currently worth $3.35 on major cryptocurrency exchanges.You can also exchange one Skycoin for 0.00006076 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Skycoin in U.S.dollars is $67.07 million.

    What is with The SkyMiner?

    This was indeed quite confusing concept at first given that we know that Skycoin is not mined per se.However, according to a medium post by Skycoin, this should not confuse you.This is because the miner does not conform to the typical understanding of what a miner is.

    What next?

    What to  know more about the importance of decentralisation? Read this definitive guide.

    What to do with my skycoin?

    Hi! I'm new to skycoin and just bought some, I transferred it to my wallet.

    Where can I get Skycoin wallet?

    Skycoin produces its own wallet software that is available for download on its website, which allows you to store Skycoin on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

    Who tf is behind this shit?

    Synth and Houwu Chen are the founders.Synth is one of the earlier Bitcoin contributors and has been working on Skycoin for 8 years.Houwu is one of the Ethereum creators, the author of the Obelisk whitepaper, and was formerly a PhD at Tsinghua University.They are well connected and on their shit, so we wish them luck.


    With the massive crypto market rout that has occurred since the beginning of this year, it has become very pertinent for any investor in the cryptocurrency space to ask this question.The cryptocurrency market rose by 1200 per cent in 2017 setting up a mini-bubble that the market has not recovered from.

    Wtf is this shit?

    Alright guys, it’s been a while since we wrote a review/summary.We have received emails, Telegram messages, and DMs on Twitter asking when one is coming.We took a short break at the start of the new year, but we are back baby.

    History of Skycoin

  • In 2018, Skycoin announced a partnership with the colorful John McAfee that later fell apart.
  • In 2020, Skycoin will release a superior "web-of-trust" blockchain consensus algorithm called Obelisk, which solves the problems inherent to "proof-of-work" and "proof-of-stake" protocols, both of which are slowing down and compromising the integrity of other major cryptocurrencies.