Can anyone tell me how skycoins created and at what rate ?
Skycoin is a cryptocurrency that is backed by investment in physical infrastructure that generates bandwidth. Skycoin also emits a secondary currency, Skyhours, at a rate of 1 Skyhour per hour for each Skycoin held in your wallet. Skyhours are used to prevent transaction spam, while eliminating fees in Skycoin; but are also able to be traded for goods and services, bandwidth in particular, on the Skywire network. This allows Skycoin to serve as a store of value while the inflationary Skyhours will stimulate economic growth.
Because Skycoin's consensus algorithm, Obelisk, is cheap to participate in, there is no purpose in having a block reward. Therefore all 100,000,000 Skycoins were emitted at the genesis block allowing mining rewards to be provided for those who provide services on the Skywire meshnet application instead. This approach promises to make productive use of the economic activity that grows in and around the Skycoin community. In order to be paid a share of mining rewards, users can set up inexpensive Skywire miners and antennas. This physical infrastructure generates valuable bandwidth and provides the foundation on which a new internet will be born.
Of the 100 million Skycoin that exists, 75 million are locked away in a time release multisig wallet, while 25 million coins were made available to be distributed. At this time, only 8,999,574 Skycoin have been distributed. Once the first 25 million coins are distributed, a maximum of 5 million coins will become available for distribution per year until all 100 million are in circulation.
This means that the minimum distribution period is 15 years, while the actual distribution of remaining Skycoin can be expected to take more than 30 years. Having a slow distribution for the coin and a highly decentralized subsidized ecosystem helps to ensure that the coin supply tends to become more decentralized over time. Human systems have a tendency to become more centralized over time and it is the intent of Skycoin's design to counteract that tendency.
Here is a link to the official statement on Skycoin distribution from Oct. 2017.
https://www.skycoin.net/blog/statement/skycoin-distribution-plan/
