The crypto market has fallen off a cliff in recent weeks, and there are numerous reasons for that. A few include the US SEC’s decision to issue subpoenas to several ICOS, an ongoing drama with Mt. Gox funds, a blanket ban on crypto ads announced by both Google and Facebook, and a US congressional hearing on the crypto regulation.
In addition to all these prominent and so-called “intelligent investors “ who have herd mentality followers” and know next to nothing about cryptocurrency and the technology behind how it works have done their best to spread fear, uncertainty, and doubt about cryptocurrencies and its technology.
In this post, I’d like to share a true gem that I believe is a major sleeper and has real potential to 100x within the next 2 years.
I will present to you exactly WHY I believe 100 x is totally achievable and I suggest you DYOR (do your own research) and come to your own well-reasoned conclusion rather than blindly buying it because some random Charles Bivins guy on the internet said so.
As a retail investor, I believe most of the secondary markets are efficient. Huge returns can only be made in developing markets, such as the cryptocurrency market. From what I learn and see, cryptocurrency will not replace fiat currencies but will play an important role in the financial industry as a new asset class. Imagine what will happen if every institution allocates 5% of their assets to crypto assets. Currently, the total cryptocurrency market capitalization is $268 billion, which is less than 1% of total global asset under management.
That said, this article's focus is on Skycoin .
Skycoin is not a well-known project, but precisely because of that, it is deeply undervalued and is a sound investment for investors who are looking for value in the cryptocurrency space. Skycoin is Bitcoin as it should have been.
It is not well known because the emphasis has been on the development of their world-changing revolutionary technology.
Skycoin is the most powerful and complete cryptocurrency platform ever created.
Satoshi envisioned Bitcoin as a decentralized digital currency. Blockchain networks were intended to democratize finance, eliminating corporate control and spreading power among users. However, Bitcoin and related currencies have become centralized due to their reliance on Proof of Work (PoW) and Proof of Stake (PoS) algorithms, as well as their use of mining to create coins. This centralization defeats the original purpose of digital currencies
Skycoin was created as an answer to the shortcomings of both Bitcoin and Ethereum. Born out of necessity, no other coin was fulfilling Satoshi’s original vision of a fully decentralized digital currency.
Skycoin’s platform is free from centralization and manipulation through its proprietary Obelisk consensus algorithm. It features CX, a Turing complete programming language built from the ground up to allow hundreds of thousands of developers to easily deploy applications to the blockchain. Skycoin functions as a currency with virtually free transactions, soon-to-be-implemented absolute privacy, and Visa-like speeds with an 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
HOW UNDERVALUED IS SKYCOIN ?
Looking at the architectural overview of Skycoin, the various components of Skycoin have specific functions
The descriptions below outlines the various components and what their functions are
Skycoin was designed to replace bitcoin
Fiber to designed to replace Ethereum
CXO to replace IPFS, FileCoin, BitTorrent, Mega, Dropbox, Google Drive which silicon is trying to replicate
Skywire to replace MPLS, IPv4/IPv6, OpenFlow, Tor, I2P
Viscript to replace EC2, golem
CryptoSphere to replace OpenVPN
Sky-Messenger to replace Tox, Telegram, Skype, Wechat, WhatsApp
BBS to replace Steemit, 4chan, facebook, twitter.
UXTO transactions like qtum
The truth of the matter is each of these components can function as stand-alone tokens or coins if need be.
I am going to highlight each component of the skycoin ecosystem and point out the advantage of what it means to hold one skycoin
SKYCOIN ECOSYSTEM
SKYCOIN: A coin that is technically superior. Transactions with zero fees that take approximately two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, ALL of the bitcoin's technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cyber/nuclear/conventional warfare, etc.).
The Skycoin Platform is the most advanced blockchain application ecosystem in the world. Developed by early contributors to both Bitcoin and Ethereum, Skycoin’s platform is completely secure, infinitely scalable, and ISP independent. Backed by bandwidth, storage, and computational power Skycoin is built to fulfill Satoshi’s original vision.
SKYWIRE
The new Decentralized Internet, a wireless mesh networks that pay you for supporting it.
It is incentivized. Skywire will develop to be a wireless mesh network (WMN). Users can earn both Skycoin and Coin Hours for running hardware nodes that provide both bandwidth and storage to the entire network. Users can then spend earned Coin Hours on content and other network resources, as they choose.
It is secure. Users for users create Skywire. Users dictate the decisions made on the network and the network operates on a web of trust system where malicious nodes can be cut off from the main Skywire network via collective agreement of the community. This consensus model allows Skywire to be immune from attacks, exploitation, and manipulation.
In an era where consumers are consistently being taken advantage of by large corporations in the name of profit, Skycoin’s Skywire network is a breath of fresh air. Skywire gives the power back to the people and creates a stronger, faster, and more secure Internet in the process.
A decentralized ISP where you earn coins for forwarding traffic/bandwidth (like Tor but faster, not backdoored by NSA and you are getting paid to run a node), that will give everyone nearly free internet access and will get a lot of users and actually be useful. Different networking protocol than TCP/IP, designed to be immune from literally all currently known network-based attacks.
• Uses public keys instead of IP addresses, with all of the traffic encrypted by default, making man in the middle attacks impossible.
• Nodes forwarding the traffic can only see the previous and next hop, not origin or destination, making it extremely private.
• Latency is superior to TCP/IP because ISPs use hot potato routing, while Skywire doesn't.
• Speed is superior because bandwidth aggregation is possible, making it possible to share the unused bandwidth of your neighbors.
• Immune to ISP control tactics, such as throttling, censorship, outages, etc.
• Designed to run on skycoin's own open source hardware infrastructure.
• Works as an overlay over the current Internet as of now, but will be completely independent as soon as the network backhaul is in place.
• Incentivized for the first 14 years, you get paid for running a node and transferring packets for the network.
• Net neutrality is a contentious issue in the realms of Internet providers. What this entails is that Internet Service Providers (ISP) can charge different rates to prioritize content to their subscribers. While they are technically allowed to do this, this practice flies in the face of everything the ethos of the Internet stands for.
• Skywire presents itself as a mesh net of private services that is decentralized. Skywire clients run a Virtual Private Network (VPN) server that connects users to the Skywire network. These servers are known as Skyminer.
OBELISK
The “web of trust”, a new kind of consensus algorithm solving the fundamental flaws with POW & PoS
The obelisk is a revolutionary web-of-trust consensus algorithm built to eliminate the issues that previous generations of consensus have introduced into the blockchain space. Web-of-trust architecture creates a perfect system of checks and balances, allowing the community and other nodes the ability to audit network behavior with a high degree of accuracy.
With the ability to cut off suspicious nodes for malicious behavior, the network becomes stronger as trust is maintained. The quarantine of nodes can manage the trust, and at the same time, this process allows the community to rebalance power in the network.
SKYMINER
The hardware backbone for an unbreakable decentralized Internet. Get paid for providing bandwidth, storage, and CPU power while you sleep.
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.
These servers provide the users' access to the Internet. This forms a second layer of private browsing. The service is cheaper, faster and controlled by the users on Skywire. ISPs do not have control over which content is prioritized. The Skywire network is private so IP addresses cannot be traced. Users are also rewarded for providing bandwidth to other users and paid in Skycoin.
Apart from all these features, it is light, plug and play, conversation piece and blunt force anti-kidnapping weapon.
FIBER
The infinitely scalable and highly customizable parallel peer-chain architecture of the Skycoin platform.
Fiber is the structural layer of Skycoin’s blockchain platform that is custom built to be adaptable to any blockchain application’s needs. Running on an innovative and extremely efficient code, Fiber enables the Skycoin platform to scale into and disrupt veritably every industry with blockchain solutions.
Fiber is as sophisticated as it is elegant, capable of expanding and adapting to the needs of numerous types of distributed applications.
Skycoin’s Fiber architecture enables scaling of the Skycoin platform laterally as well as vertically without compromising dependencies or network deficiencies at scale. Thanks to Skycoin’s Obeliskconsensus mechanism, every token supported by Fiber will be fundamentally isolated from others such that they will never impact one another regarding network stability, security, or throughput. Additionally, through the Skycoin Coin Hour system, every project that leverages Fiber will advance the entire Skycoin platform forward, without hindering the existing platform operations. Fiber creates an unprecedented level of symbiosis between projects while maintaining enough isolation such that no one tokens can negatively impact the remainder of the network.
Tokens built on Skycoin’s Fiber architecture will have an unprecedented level of network support. Tokens will be able to run on our ground-breaking peer-to-peer network, Skywire, and each token will have immediate wallet and exchange support within the Skycoin ecosystem. That’s right, a project can launch and trade within a matter of minutes on our world-class platform.
Skycoin Fiber does not compete with first and second-generation cryptocurrency architectures, it replaces them. From fledgling blockchain projects to enterprises looking for solutions, Fiber is the answer.
CX
A custom built programming language, developed on top of Golang. Designed to be easy to learn and fast to implement. At the moment Skycoin foundation is training over 60 university interns and organizing Hackathons for developers who are interested in joining this project
COIN HOURS
Accrued by holding Skycoin, Coin Hours is the payment mechanism for services on the Skycoin platform.
Nodes
The building blocks of the Skywire network, deployable by anyone to ensure decentralization of the Skywire ecosystem.
CXO
A peer-to-peer cloud storage service tailored to service the distributed network of Skywire.
COIN JOIN
Native platform support for CoinJoin to provide completely private, untraceable transactions.
SDN
Built-in end-to-end virtual private encryption over the Skywire network to ensure privacy.
KITTYCASH
The most popular application currently built on Fiber. Kittycash is a complete gaming ecosystem, powered by cats.
SKYMESSENGER
Our fully encrypted messenger service, free from prying eyes or bad actors.
BBS
The framework for building distributed social network services.
SKYDEX
A decentralized exchange for all fiber coins which guarantees immediate listing for any project that chooses to use skycoin fiber as its platform for ICOs.
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.
Skycoin is against charging transaction costs and mining incentives as it only drives up the costs of the network. The biggest benefit of Skycoin is that it is energy efficient due to the Web-of-Trust social proof. It can even run on a 30-watt cell phone processor making it great for mobile payments. Centralization becomes less of an issue when anyone can participate in the blockchain.
Another way to earn Skycoin is by providing bandwidth to the Skywire mesh network. Users can also spend Skycoin by paying for bandwidth using Skycoin. This makes Skycoin a payment coin.
A lot of people have complained that Skycoin is doing too many things at the same time but the truth of the matter is Skycoin is an ecosystem and most of these projects are prioritized and there is always an area of focus.
Skycoin is a highly innovative and evolving team and won't rest on their oars until they find solutions to all their technological developments.
As of now, the main focus is launching Skywire tesnet, antennas, the Skyminers)
Scheduled releases in order of priorities are
- Skyminers
- Skywire
- Antennas / Hardware
- Hardware Wallet
- Obelisk Testnet? (last quarter of this year or first half of 2019 )
- CX (First half of the next year 2019
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 connecting via LAN or WiFi directly.
At this moment , skycoin has over 6810 nodes running all over the world in less than less than 2 months after the launch of testnet.
Link below
http://discovery.skycoin.net:8001/#/
The project also has a waiting queue of over 10,000 miners for supporters and subscribers of the project for the skyminer.
https://www.skycoin.net/skyminer/
In addition, skyminers with nodes running are being currently rewarded by the skycoin project .
Whitelisted miners are being compensated for their services as follows:
• DIY Skyminers earn 6 SKY per node with a maximum of 8 nodes per unit, meaning that custom-built miners can earn from 6 to 48 SKY per month.
• Official Skyminers are rewarded at a flat rate of 96 SKY per month.
Skyminer nodes, whether official or DIY, must achieve a minimum duration of 75% uptime for a given month to be eligible to receive reward payment for that month. As long as this threshold is met, the full reward amount for that qualified month is earned.
The implication of this is if for example, skycoin gets to $50 dollars, 100 skycoin rewards will give you $5000 dollars monthly by just plugging your skyminer that uses the same power consumption like that of a cell phone.
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 number of nodes grows, 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.
One must not fail to mention the skycoin team under the amiable leadership of Synth and Steve.
Synth is probably the most authentic person in the crypto space. His simplicity, freshness, and candor are unparalleled.
Synth has a background in mathematics and cryptography and is the face of Skycoin.
While his authenticity, genius, simplicity, and frankness has endeared him to many, it has also created an opportunity for haters to attack him and describe him as all sorts.
Unfortunately, any time His personality is attacked, it brings more recognition to the Skycoin project. During his recent attack and blackmail, the pictogram below described what happened to the traffic of skycoin.
In Steve, you have a cool and calm leader who is focused with developments and making sure a better skycoin for the world.
Steve wrote most of the Skycoin software in 2013-2014. Github: https://github.com/gz-c .
Skycoin is probably the most maligned project in the crypto space but the truth is when FUD is generated against skycoin, it gives them unprecedented publicity and a lot of people have found out about the project through this way.
While all the FUD campaign were going on, Skycoin were tying up strategic partnership and alliances with several other projects, organizations, and government. For the sake of non-disclosures, I won't be able to reveal any details .
Skycoin is the only crypto project where the foundation has released both software and hardware products that are working and functional and they are light years ahead of development compared to most other coins .
In summary, Skycoin is one of the most fundamentally undervalued cryptocurrencies. Holding one skycoin is like holding bitcoin, ethereum, siacoin, kyber, IDEX, steem, QTUM in one coin.
In these days where dishonest developers are rife in the crypto space and would have monetized every aspect of the coin by forking it and presenting each component as a standalone token, Synth and Steve have thought it best to give to investors a once in a lifetime opportunity.
It provides a generous dividend like coinhours. Coin Hour buybacks are just around the corner and will commence very soon.
By storing your SKY in the official Skycoin wallet, you build up Coin Hours, so make sure you head over to the Skycoin website and download the wallet for your device.
It expects its market cap rank to rise to top 5 cryptocurrencies in CMC within three years.
Lots of new features are expected to be released in 2018 and early 2019 serving as catalysts. These include customized routers, motorized antennas , plug and play skyminers 2.0 and hardware wallets that will make the trezors and nano ledgers obsolete and way too expensive .
Mass user adoption for most cryptocurrency use cases are still years off. Less than 10 million people actively “use” crypto today, and aside from use as “digital gold” or “payment rail”, most other use cases won’t have meaningful traction for at least another year or three.
If there’s a crypto I want to buy, it’s this one right here
This is a golden opportunity to buy skycoin while you can before it hits triple digits.
The coin is growing at a rate of 1.25 percent every day.
Do your due diligence, take a position and be patient.
I know what I know about Skycoin. I don’t shill coins. I tell you the way it is. There is no substitute for doing your research.
You can only thank me for pointing you in the direction of skycoin but the rest is yours to read, research and ask questions concerning this project.
Are you ready?
Put on your skycoin hoodie, plug your skyminer , relax and be Patient
Are you ready
Find out more at https://www.skycoin.net
Buy skycoin directly from the website @ https://www.skycoin.net/buy/
Buy from the exchanges @ Binance, Cryptopia BitRabbit, C2CX, ChaoEX
sign for skyminer waiting list @ https://www.skycoin.net/skyminer/
Facebook: https://www.facebook.com/skycoinproject
Twitter: https://www.twitter.com/skycoinproject
Reddit: https://reddit.com/r/Skycoin
Telegram: https://t.me/Skycoin
follows me on twitter https://twitter.com/bivins1
If you find the article interesting, please send your skycoin donation to
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