Skycoin, a little known cryptocurrency with a cult following, is launching their first coin distribution event on July 24th, 2017. The project, which aims to build a cryptocurrency as fast and secure as credit cards, has been in development since 2011 and is close to completion.
The project is focused on core features, security, usability and simplifying Bitcoin by using a revolutionary new consensus algorithm, the first since PeerCoin in 2011.
Key features include:
- Speed – Skycoin is built to compete with credit cards and services like AliPay and Apple Pay. Transactions happen in seconds, not minutes.
- Privacy – Skycoin makes it impossible to trace transactions by mixing transactions from multiple wallets and using the CoinJoin protocol.
- Security – Skycoin is more secure because it does not rely upon the goodwill of miners, it cannot be 51 percent attacked.
- Ecosystem – They are building a rich ecosystem of real world applications on top of Skycoin starting with messaging, social media, and VPN.
Skycoin is a tightly organised project with several objectives and over 60 contributors.
“This is about solving the problems with Bitcoin and other altcoins,” stated project founder Synth. “Being able to handle over 300 transactions a second, confirmations in seconds instead of minutes (faster than credit cards), eliminating miners, eliminating block rewards (inflation) and eliminating 51 percent attack and the other problems with mining,” he continued.
“We got a lot of advice from people experienced in forensic accounting and what they wanted to see and where they felt Bitcoin was deficient and where it leaked metadata. Then a bunch of PHD level people doing research into distributed database consensus algorithms and another group doing programming language research and we also have people from the Russian darknet community. We have like eight Ivans.”
Besides building a better, more robust, most secure, more usable Bitcoin, the Skycoin serves as platform for long-term goals they believe will become fundamental to the next era of the internet.
“Then there are other repos on github.com/skycoin for mesh networking and distributed VPN prototypes, where people will be paid tokens for forwarding traffic. There is also a distributed social media service, with peer to peer data replication and different experimental projects as well as research into immutable data structures for next generation internet. Some of them are very radical.”
Skycoin development can be followed on GitHub and they will be opening bounties for bug fixes, design and development in the coming weeks. Several of their white papers are also located on their website.
Project founder Synth recalls:
“Many of the contributors are anonymous. Some of them have security clearances and were in the military industrial complex and one of them worked at the San Diego Naval Defence Research Lab and a lot of the idea for the networking protocols came out of public sector academic researched, funded from there. We also have a lot of very very early Bitcoin people, hardcore crypto people that predate Bitcoin and an Ethereum core developer, etc.”
- Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power - October 22, 2017
- Brickblock And Nakamo.to Announce Partnership To Fuse Real-world Asset Trading With The Potential Of IOTA’s Tangle Network - October 22, 2017
- Wirex inks deal with SBI Holdings to establish Asia focussed joint venture – Japanese cryptocurrency payments card expected soon - October 22, 2017
- CrowdWiz successfully raises over $5 million in its pre sale to bring democracy to investing by cutting out the middleman - October 22, 2017
- Soma – launches ICO to tackle marketplace fraud and disrupt the $1.7 trillion global second-hand goods industry - October 22, 2017
- LiveEdu.tv Launches ICO and Announces Presale - October 22, 2017
- Yetta announces ICO of European Commission funded Blockchain Research and Development - October 22, 2017
- Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain - October 19, 2017
- Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE - October 19, 2017
- Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime - October 19, 2017
- Playkey Brings in $1 Million in Pre-Sale Campaign and Welcomes Dillon Seo as VR Advisor - October 19, 2017
- SolarCoin Founders Introduce New Blockchain-Based Network for Global, Decentralized Energy Trading - October 19, 2017
- Kazakhstan’s Lendex.io plans ICO in early 2018 - October 19, 2017
- Swissborg – The Blockchain Era of Swiss Private Banking – Announced ICO - October 19, 2017
- Bank4YOU Group’s launches ICO end of October – Investors Call to Action - October 19, 2017
- Live Pre-sale of Trive: Fights Fake News Using Cryptocurrency and Crowdsourced Research - October 19, 2017
- A New Ozone Layer? Arcona Plans for Augmented Reality Layer to Cover Earth Surface in new AR project - October 19, 2017
- Cofound.it Introduces Seed Program for Early Blockchain Startups - October 19, 2017
- LOOMIA Announces Collaboration With Storj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology - October 19, 2017
- DECENT Launches Beta Release of DECENT GO, The First Decentralized Marketplace for Digital Content - October 19, 2017
- Orebits Corporation, Inc. Announces Orebits Pool, LLC and Orebits.AU Eco-System - October 19, 2017
- Pareto – the Peer to Peer Financial Content Marketplace Announces Token Sale - October 19, 2017
- Appsolutely Launches the LoyalPlatform, LoyalCoin and LoyalWallet; Using Blockchain to Usher in the New “Loyalty Economy” - October 19, 2017
- Eidoo Raises $27.9m In Successful ICO To Bridge The Cryptocurrency Gap And Open The World Of Digital Currencies To The Masses - October 19, 2017
- Malta-based RoboAdvisorCoin (RAC) Launches Token Sale for Robo-Advisor Dedicated to Cryptocurrencies and Digital Assets - October 19, 2017
- BLOCKv Announces the Availability of VEE Tokens Through Its Upcoming Token Generation Event – Open to Public on October 19, 2017 - October 19, 2017
- The Fundchain initiative starts again this year with new Research & Development roadmap for the investment fund industry - October 19, 2017
- Digital Cryptocurrency Vault DigiPulse Reaches $1 million in Token Sale - October 19, 2017
- Tickets Cloud Kicks off crypto.tickets ICO - October 19, 2017
- Ex-JP Morgan Vice President Dr Joseph Chen-Yu Wang Joins Ambrosus as Project Manager - October 19, 2017
- Russian Wood for Cryptocurrency – Timber! - October 19, 2017
- Proof Suite Announces Token Sale for Blockchain Platform Designed to Tokenize and Insure Real World Assets - October 19, 2017
- DataWallet Announces Blockchain-Based, Consumer-to-Business Data Exchange - October 19, 2017
- IEEE Releases Findings from First Detailed Study of Blockchain Adoption in the Pharmaceutical Enterprise - October 19, 2017
- Horizon State Launches Token Sale to Modernize Global Voting and Collaborative Decision Making - October 19, 2017
- Metaps Plans to Launch Time Marketplace ‘Timebank’ Token Sale on COMSA - October 19, 2017
- Lykke Vanuatu brings Binary.com tokens to Lykke Vanuatu Exchange - October 19, 2017
- After raising $15M in a pre-sale, BitClave is ramping up for its Nov 8 crowdsale, and its plans to redefine the search experience - October 19, 2017
- Kazakhstan Is About To Launch The First Cryptocurrency, Directly Backed By Fiat Money - October 19, 2017
- Positive.com launches to protect Initial Coin Offerings from cyber attack - October 19, 2017
- Latium Launches LATX Cryptocurrency Token Sale for Participation in AI-Based Tasking Platform - October 18, 2017
- IBM Announces Major Blockchain Solution to Speed Global Payments - October 18, 2017
- Launch of SMSCHAIN, a Blockchain-based SMS Gateway - October 18, 2017
- Streamr Concludes a 30 Million CHF Crowd Contribution Period to Build Decentralized Real-Time Data Economy - October 18, 2017
- Publica Building New eCommerce Platform for the Publishing Ecosystem – Token Sale Coming Soon - October 18, 2017
- BLOCKv Partners with Storj Labs to Provide Decentralized Storage Architecture and New Toolsets to Power Next Generation Digital Objects - October 18, 2017
- Coinme Announces the Start of the UpToken Sale Today With Over $40 Million USD in Pre-Registration Signups - October 18, 2017
- Blockbid Announces Launch Of ICO Backed By Multi-Cryptocurrency Trading Platform - October 18, 2017
- SportyFi – Decentralized Sports Investment Start-up Endorsed by Soccer Superstar Roberto Carlos - October 16, 2017
- Acronis Joins Runa Capital and Parallels In Accelerating Innovation and Supporting Blockchain Initiatives in Malta - October 16, 2017