What is Skycoin?
Skycoin (SKY) is a coin used on its native blockchain which is a third generation blockchain due to its consensus mechanism. Both Proof of Work (used in Bitcoins) and Proof of Stake (used in Ethereum) have their demerits and are prone to "51% attack". Skycoin blockchain uses web-of-trust consensus algorithm known as Obelisk. This algorithm allows the nodes and the general community to audit the network with a high degree of accuracy. This consensus protocols have several other advantages such as high scalability and low energy consumption, immune to 51% attack, robust defense (against large-scale coordinated attacks) and Two node structure.
Skycoin transactions complete in 2 seconds. The transaction fee is taken in "coin hour" a separate currency paid to Skycoin holders for each hour they hold the coin. 1000 coins held for 1 hour will generate 1000 "coin hours". Coin hours are linked to various other services such as VPN service or movie downloads from Popcorn Time and over the counter services.
The maximum supply of Skycoin is 100 million coins. Skycoin provides an ecosystem and complete solution for shifting from Web 2.0 (Centralized) to Web3.0 (decentralized) The Ecosystem comprises of Skycoin (cryptocurrency), CX (A Turing complete programming language), Skywire (Decentralized internet), Obelisk (Consensus mechanism for blockchain), Fiber (the foundation of cryptocurrency 3.0) and skyminer (Hardware).
Skycoin was founded by Synth (earlier contributor Bitcoin), Houwu Chen (One of the creators of Ethereum), Steve Leonard (Skycoin software developer). The advisory board consists of 4 members and two companies TokenKey and SharkCIA.
Skycoin News And Market Price Data
- Historical Data
- Is excessive bullish optimism behind Bitcoin’s drop below $60K?Cointelegraph.com News - 2 hours agoBitcoin’s futures premium hit its highest level in 5 months, but was this the primary reason for BTC’s fall below $60,000? Bitcoin (BTC) has a…
- Reactivated Ethereum pools trigger a 78% surge in THORChain priceCointelegraph.com News - 3 hours agoRUNE looks ready to extend its gains after the reactivation of ETH-based pools resulted in a 78% rally last week. Ealier this year THORChain underwent…
- Top 5 cryptocurrencies to watch this week: BTC, SOL, AVAX, ALGO, AXSCointelegraph.com News - 5 hours agoTraders are watching to see if BTC’s bounce of the 20-day moving average resumes the uptrend. Meanwhile, SOL, AVAX, ALGO and AXS are preparing for…
- Crypto in the crosshairs: US regulators eye the cryptocurrency sectorCointelegraph.com News - 7 hours agoU.S. regulators are looking at crypto-related areas, touching on financial regulation, economic innovation and national security. In her monthly Expert Take column, Selva Ozelli, an…
- Fear not, investor: Finding stability amid crypto market volatilityCointelegraph.com News - 9 hours agoVolatility in the crypto markets is here to stay. Thus, understanding the utility, necessity and long-term viability of projects is crucial. In a calendar year,…
Skycoin Frequenty Asked Questions
Where does Skycoin (SKY) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Skycoin currently ranks in position 831 out of the top 1000 cryptocurrencies. Another important factor in popularity is Skycoin‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Skycoin has a market cap of $ 25,373,157, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,153,315,262,663, Litecoin at $ 13,153,551,520, Ethereum at $ 484,057,346,240, Tether at $ 70,748,330,677, and XRP at $ 50,947,144,431.
What is the price of Skycoin (SKY) today (updated in realtime)?
The current price of Skycoin is $ 1.23 in USD. (The price in Euros is 1,06 €; and the price in Bitcoin is Ƀ 0.00001969 BTC.)
How has Skycoin (SKY) performed recently?
Skycoin‘s price has decreased in the last 24 hours by -1.20%. The change in price over the last seven days was -1.23%. The trading volume over the last 24 hours was $ 442,010. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Skycoin‘s (SKY) market supply?
The total circulating (available) supply of Skycoin is 21,000,000 SKY. The total supply of Skycoin is 100,000,000 SKY.
What is the 24 hour volume for Skycoin (SKY)?
The 24 hour volume of Skycoin is $ 442,010.
What is Skycoin (SKY) official website?
Skycoin‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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