Skywire Blockchain Internet: Skycoin's Cryptocurrency Project?

The notion of digital assets and exchange has exploded in recent times, as many consumers and authoritative figures continue to watch the consistent fluctuations in the values of cryptocurrency. The use of cryptocurrency stemmed on the idea that a more decentralized mean of keeping track of money and taking part in exchange is needed to reduce fees, increase security and anonymity and eventually regain control of oneself’s assets.

Another friend of everyone’s is the internet, where a variety of information continues to surf on a global level, where consumers all over the world can maintain some form of connection. What if the two worlds collided? This is where Skywire comes into play.

Skywire claims to be the newest of its kind because of its potential in supporting a new free and open internet. The purpose of the following retrospect is to analyze Skywire with respect to its purpose, what it offers, and other related facts.

What Is Skywire Blockchain Internet?

Skywire is believed to be an incentivized mesh network that has been created with the intentions of providing consumers with a high level of privacy when surfing the internet. Like cryptocurrencies remove the middlemen, i.e. banks, the goal of Skywire is eliminate internet service providers, allowing consumers to have control of it entirely. Ultimately, it works to eliminate the problems of the internet today, which include slowdowns, censorship, lack of privacy and unnecessary blockage to name the least.

What Is Skycoin's Cryptocurrency Project?

While Skywire is said to be the network, it currently offers a token of its own, called the Skycoin. When consumers pass any form of information along the Skywire Network, he or she is believed to earn Skycoins. The Skycoins then become useful in purchasing bandwidth needed to surf the internet.

According to the team behind Skywire and Skycoin, Skycoin came out of necessity. Simply put, the Skycoin is believed to be an improved and advanced version of the Bitcoin, the first ever coin to be created and currently the one to be attacked by governments from all over the world. The notion of decentralization is no more when it comes to Bitcoin, which was a concern for many, hence the creation of Skycoin.

After having realized that the internet too is overly centralized, Skywire came to form.

What Can Be Said About The SKY Team?

According to the developer and project manager of SKY, the entire team is said to be composed of enriched backgrounds including those in mathematics, cryptography, software development and programming language, marketing and much more. Based on the claims made, such skillsets are essential in ensuring that the entire SKY system is fortified and free from any harm.

What is comforting to many investors is the fact that both the Skywire and Skycoin projects have been developed by original Bitcoin and Ethereum developers, but on a different perspective that eliminates the existing concerns of the Bitcoin today.

Skywire Blockchain Internet Final Thoughts

The fact that a new team came together to address the existing flaws of the once giant, Bitcoin seems very promising in the long run.

While most newly released cryptocurrencies address different concerns, the SKY team has focused greatly on concerns that affect consumers on a daily basis, especially the notion of eliminating an authoritative role in every aspect of life. In today’s society, the use of the internet is crucial, therefore its related concerns like security, efficiency and privacy should be heightened and this continues to be the goal of both Skywire and Skycoin.

When it comes to their future goals, Skyminer, an internet access point that pays consumers for bandwidth, is something that is currently being worked upon with more to come for the year.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,441FansLike
2,795FollowersFollow
4,192FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Chinese Internet Giant Arm, Tencent Cloud, Looks to Form A 100-Member Blockchain Alliance

Tencent’s cloud computing arm venture is bringing together a 100-member blockchain alliance to further blockchain implementation and find new real-world use cases of the...

OKEx Crypto Exchange Launches ETH Options Contract; EOS Options Trading to Follow

One of the largest cryptocurrency trading and derivative platform OKEx, announced the launch of its Ether options contract on June 4th. On June 18th, the...

Bitcoin Market Currently in ‘Fear' But Don’t Try to Predict What’s Gonna Happen Next

Bitcoin will do what bitcoin does. And if anyone tries to bet on the digital currency’s next move, it will prove you wrong. We have seen...

Fed Reserve of Philadelphia Research: Account-Based CBDCs May Replace Commercial Banks

A research paper published on June 1, 2020, by the Federal Reserve of Philadelphia shows account-based central bank digital currency (CBDC) could potentially replace...

US Federal Bank Regulator (OCC) Issues Notice for Feedback on Crypto and DLT Activity

The Office of the Comptroller of Currency (OCC) has asked for feedback in matters crypto and distributed ledgers according to two notices published on...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today