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Author Topic: [SKY] Skycoin Launch Announcement  (Read 379695 times)
oilto200
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June 12, 2018, 12:25:58 PM
 #3781

downtrend ? Regretfully, Binance should not have run their promotion with SKY when
BTC is hitting one year lows. During these buying contests both buys/sells are registered
so traders are flipping SKY for 10 STS's (.00000010). With the downtrend in BTC, the price of SKY
goes further down because the traders in the context expect less on each flip.

If it were the other way around and BTC was heading towards 11K, right now SKY would be
over 500K STS.
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June 12, 2018, 09:23:57 PM
Last edit: June 13, 2018, 07:29:15 AM by grandford
 #3782

         Yeah! Everything that is happening with BTC and all Altcoin, it is obvious that the cost of manipulating whales. Autumn is not far off. I hope that by this time the wolves will be satisfied and each cryptocurrency will receive its real price. And then sky will do xxx... (?)

Sorry for the bad English. I use Google translator.
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June 14, 2018, 06:51:37 AM
 #3783

The skycoin competition currently running on binance to see who can trade the most lists the top traders by their skycoin trading volume. As you can see below there's about 8 million skycoin traded just from the top 10 people. Over 3 million skycoin traded just from 1 person. According to coinmarketcap there are only 9 million skycoin in circulating supply. So what's going on with skycoin, are like 99% of the coins held in just a few hands? Same story as nearly every other coin, or am I missing something?? If im wrong i will delete this post because i like this project and synth.

Ranking    Email                   Trading Volume
1    sv***@***.com      3955738.59878446 SKY
2    an***@***.bg           2320987.49134977 SKY
3    xc***@***.com           1486447.7494832 SKY
4    32***@***.com    1395155.11004144 SKY
5    ba***@***.com    846732.23110385 SKY
6    pe***@***.com    813397.79856122 SKY
7    si***@***.com           805822.74042851 SKY
8    be***@***.com    650044.835 SKY
9    de***@***.ru            643156.77427268 SKY
10    th***@***.com        584635.29276095 SKY
20    bh***@***.com        328698.09769456 SKY
50    bi***@***.com       170255.515 SKY

see on the binanace page here: https://www.binance.com/activity-SKY.html?lang=en

Also how to look up the skycoin blockchain to see richlist, coin distribution, top 10 addresses etc. for example i can see the vertcoin blockchain here: https://chainz.cryptoid.info/vtc/#!rich
Alohaboy?!
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June 14, 2018, 07:05:14 AM
 #3784

downtrend ? Regretfully, Binance should not have run their promotion with SKY when
BTC is hitting one year lows. During these buying contests both buys/sells are registered
so traders are flipping SKY for 10 STS's (.00000010). With the downtrend in BTC, the price of SKY
goes further down because the traders in the context expect less on each flip.

If it were the other way around and BTC was heading towards 11K, right now SKY would be
over 500K STS.

I agree that the competition would have bette be held at a later time space. But the awards for the trading volume aren't achievable by a normal every day crypto user. That will sure be something for the whales. But on the other side, sky will rise in a bull market not depending on any competition. the interesting time has still to come, since the project aims for more than being a speculative asset.

The skycoin competition currently running on binance to see who can trade the most lists the top traders by their skycoin trading volume. As you can see below there's about 8 million skycoin traded just from the top 10 people. Over 3 million skycoin traded just from 1 person. According to coinmarketcap there are only 9 million skycoin in circulating supply. So what's going on with skycoin, are like 99% of the coins held in just a few hands? Same story as nearly every other coin, or am I missing something?? If im wrong i will delete this post because i like this project and synth.

Ranking    Email                   Trading Volume
1    sv***@***.com      3955738.59878446 SKY
2    an***@***.bg           2320987.49134977 SKY
3    xc***@***.com           1486447.7494832 SKY
4    32***@***.com    1395155.11004144 SKY
5    ba***@***.com    846732.23110385 SKY
6    pe***@***.com    813397.79856122 SKY
7    si***@***.com           805822.74042851 SKY
8    be***@***.com    650044.835 SKY
9    de***@***.ru            643156.77427268 SKY
10    th***@***.com        584635.29276095 SKY
20    bh***@***.com        328698.09769456 SKY
50    bi***@***.com       170255.515 SKY

see on the binanace page here: https://www.binance.com/activity-SKY.html?lang=en

Also how to look up the skycoin blockchain to see richlist, coin distribution, top 10 addresses etc. for example i can see the vertcoin blockchain here: https://chainz.cryptoid.info/vtc/#!rich

Well that is the trading volume. That could easily be achieved by a total amount of 500k Sky on Binance since its traded into bitcoin and back. The pool does not have to be big to generate a large traded volume. Traded does not mean they hold the coins or even own them for a longer time period

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June 15, 2018, 10:26:19 AM
 #3785

Skycoin ATMs and POS systems are what gets me hard! That will be a gamechanger, coupled with universal hardware wallets and DEXs nothing will be able to stop Skycoin.

You are talking about DEXs, but what is that? If Skycoin intends to develop a DEX at this point it doesn't mean much. There are several design options and most of them suck because 99% of them have a central point of failure.

Progress on the Skycoin DEX is already well underway. It will initially just support Bitcoin and Skycoin, plus all other coins built on Skycoin's Fiber platform. CX and CXO provide determinism and immutability, opening some design options that you might want to look into. The goal is to ultimately replace any need for centralized exchanges, Fiat integration can be accomplished by use of collateral in Skyhours or other cryptocurrencies. 

https://github.com/skycoin/skycoin-exchange

Ok I got to do some research on your design then. Usually you can't have fiat integration with at least some degree of SPOF problematic. Who is going to be the custodian for that fiat solution?


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June 16, 2018, 04:14:33 PM
 #3786

Hello everybody. As far as I know, apart from mining, it's not possible to get a coin any more, maybe in the future there will be alternative options. I wish success to all.

Skycoin was designed to eliminate mining completely and eliminate the problems it creates. That was a really interesting coin with several good technical characteristics. So except mining, has any way to get this coin? Thank.
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June 16, 2018, 04:59:51 PM
 #3787

Hi Guys, I am new to Skycoin. Can someone tell me is Skycoin has its own blockchain or its from Bitcoin or something like ethereum based ?
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June 17, 2018, 01:42:01 AM
 #3788

Hi Guys, I am new to Skycoin. Can someone tell me is Skycoin has its own blockchain or its from Bitcoin or something like ethereum based ?
Skycoin went beyond PoW and PoS to create a wholly new decentralized algorithm that reconfigures the inner workings of blockchain. Our distributed consensus algorithm, Obelisk, succeeds in delivering just such a network.
Its web-of-trust style consensus prevents the development of centralized power. Skycoin requires no mining, is immune to 51% attack, and transactions occur in seconds. Decisions are made through community consensus, not based on the wishes of a few majority stakeholders.
See more in WP https://downloads.skycoin.net/whitepapers/Skycoin-Whitepaper-v1.0.pdf
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June 17, 2018, 03:27:27 AM
 #3789

Low volume with SKY in a downtrend indicates a reversal is near. However, Binance is no Amatuer exchange. Apparently, the sentiment
surrounding SKY is let's say confusing due to to it's model and business plan. Investors know it has been recently cut in half but
is it really on-sale right now per Binance users ? I'd say no. Once you see a true reversal and it gets back over 190 I would stay clear
away from this coin. IMO, I think due to it's low supply, it has a low market cap, thus Binance will treat it as so. Everyone knows SKY's
potential, but a 3rd generation coin neither POS/POW using an unknown algorithm confuses buyers.

Once thing I've learned is uncertainty is bad for any investment. I think SKY will continue it's downtrend, then volume will pick up,
it will drop to .00120 STS's, then some buyers will drive it to .00150 STS's, then the bottom will cave and it will fall to .00060000 STS.
At that point, I would buy for an easy double. Right now, it's a falling knife and nobody on Binance is going to get cut.

I was going to buy SKY a few minutes ago, 20K worth @.00170, but cancelled my order and bought EOS @.0016347 At least with EOS, I can expect
an east double too and Binance investors are aware of what it is and why it's so cheap right now. With SKY, Binance does not know what it is and due to
it's low supply and low market cap, they could trade is down under .00050000 STS's even lower. It's uncertain because the Binance community does not
know what it is nor it's potential.
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June 17, 2018, 10:06:05 AM
 #3790

Low volume with SKY in a downtrend indicates a reversal is near. However, Binance is no Amatuer exchange. Apparently, the sentiment
surrounding SKY is let's say confusing due to to it's model and business plan. Investors know it has been recently cut in half but
is it really on-sale right now per Binance users ? I'd say no. Once you see a true reversal and it gets back over 190 I would stay clear
away from this coin. IMO, I think due to it's low supply, it has a low market cap, thus Binance will treat it as so. Everyone knows SKY's
potential, but a 3rd generation coin neither POS/POW using an unknown algorithm confuses buyers.

Once thing I've learned is uncertainty is bad for any investment. I think SKY will continue it's downtrend, then volume will pick up,
it will drop to .00120 STS's, then some buyers will drive it to .00150 STS's, then the bottom will cave and it will fall to .00060000 STS.
At that point, I would buy for an easy double. Right now, it's a falling knife and nobody on Binance is going to get cut.

I was going to buy SKY a few minutes ago, 20K worth @.00170, but cancelled my order and bought EOS @.0016347 At least with EOS, I can expect
an east double too and Binance investors are aware of what it is and why it's so cheap right now. With SKY, Binance does not know what it is and due to
it's low supply and low market cap, they could trade is down under .00050000 STS's even lower. It's uncertain because the Binance community does not
know what it is nor it's potential.


You will always chose the coin you are most confident in. But personally I would never had chosen EOS above Sky. EOS is full of problems and isn't working at all. Sky took some time but it´s literally getting better each day without tasing 4 bn in a crowd sale and releasing something other devs do with even 100 times less. Not saying it might be the faster option for a quick flip in price if you are just a trader without any plan in holding longer

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June 17, 2018, 06:32:41 PM
 #3791

Why price is falling so much ?
Binance listing should have helped the price  Roll Eyes
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June 17, 2018, 11:50:08 PM
 #3792

Your right about EOS, I sold for a small gain, then moved my money over to Craptopia to buy some
cheaper coins They have an ERC20 token called SOMA (SCT) huge awareness and social bonding to
the DEV team. They are coming out with a new white paper next Friday and the coin almost doubled
already today then pulled back. Once 14M supply, SCT moves on air.

I bought 2BTC's worth this am, paid a little to much, should have waited, but not worried about the GAP
cause I know this coin will Quadruple by Thursday. I know the price action, whales usually load from 4am to 7am
EST and from 11:30 EST to about 2PM. It's at .00003100 STS's now, but won't be under .00005000 STS for long.

The week SCT opened for trading on Crytopia a few months back, I bought it at .00009100 STS and later that
night is ran to .00029000 STS. I had a limit order set to sell at .00031000 placed it by luck. It got filled. woke
up next morning and I had triple my balance in BTC SWEEET.

I'm despartely trying to build my BTC balance to load on ETHOS. I have accumulated 22,000 coins under .00030000 STS
so far, want to get it 30K before the wallet comes out. They are predicting $20 if the launch is good, $100 by year end.
If it does as predicted, I'll have a cool $3 million from a $30,000 investment in (7) months SWEEEET.

I'm waiting for an entry in SKY. I think anything under .00075000 is a gift. I think it will fall within 3-4 days.
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June 18, 2018, 01:10:56 AM
 #3793

Your right about EOS, I sold for a small gain, then moved my money over to Craptopia to buy some
cheaper coins They have an ERC20 token called SOMA (SCT) huge awareness and social bonding to
the DEV team. They are coming out with a new white paper next Friday and the coin almost doubled
already today then pulled back. Once 14M supply, SCT moves on air.

I bought 2BTC's worth this am, paid a little to much, should have waited, but not worried about the GAP
cause I know this coin will Quadruple by Thursday. I know the price action, whales usually load from 4am to 7am
EST and from 11:30 EST to about 2PM. It's at .00003100 STS's now, but won't be under .00005000 STS for long.

The week SCT opened for trading on Crytopia a few months back, I bought it at .00009100 STS and later that
night is ran to .00029000 STS. I had a limit order set to sell at .00031000 placed it by luck. It got filled. woke
up next morning and I had triple my balance in BTC SWEEET.

I'm despartely trying to build my BTC balance to load on ETHOS. I have accumulated 22,000 coins under .00030000 STS
so far, want to get it 30K before the wallet comes out. They are predicting $20 if the launch is good, $100 by year end.
If it does as predicted, I'll have a cool $3 million from a $30,000 investment in (7) months SWEEEET.

I'm waiting for an entry in SKY. I think anything under .00075000 is a gift. I think it will fall within 3-4 days.

It does not help to have morons like you SPAMMING the SKY thread...
Nobody cares that you pulled some random trade out of your ass today.
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June 18, 2018, 07:21:01 AM
 #3794

Why price is falling so much ?
Binance listing should have helped the price  Roll Eyes
[/quote
coz listied on binance in wrong time .  i mean crash market .
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June 18, 2018, 11:30:41 AM
 #3795

I would love to fill my bags with some $SKY but I don't know if the price will go down some more. I don't have any of the coins right now tho... Anyone thinks it's a good buy right now?
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June 18, 2018, 04:10:54 PM
 #3796

I would love to fill my bags with some $SKY but I don't know if the price will go down some more. I don't have any of the coins right now tho... Anyone thinks it's a good buy right now?

Set yourself a price target and go with it. Nobody can predict the future. Just do your research and come up with a price that you are willing to pay.


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oraclepay
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June 18, 2018, 05:55:07 PM
 #3797

I would love to fill my bags with some $SKY but I don't know if the price will go down some more. I don't have any of the coins right now tho... Anyone thinks it's a good buy right now?

I already bought it at 6.50$ price. And i think current price is already a good buy opportunity.
siddartha1492
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June 18, 2018, 07:12:04 PM
 #3798

Don't know how true this story is, but this Reddit post claims that Skycoin admin team was kidnapped and robbed by their own marketing team!!. After that they dumped the coins in market and hence the prices are down. Is this story even remotely believable?? https://www.reddit.com/r/CryptoCurrency/comments/8rpecb/warning_something_weird_is_going_on_with_skycoin/e0uwts8/
oilto200
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June 18, 2018, 08:52:38 PM
 #3799

.00104655 STS's 6/18 LOW OF PERIOD.

What concerns me is when SKY announced Binance listing, it went to .00438000 STS's on Cryptopia. It's base then was around .00190000 STS's
so many people got burned due to the hype and paid double almost triple it's base price.

The fact that alarms me now is the selling is accerlaating with HEAVY volume. Usually selling on low volume is not a concern with 30% drops, but yesterday
the selling slowed and volume was down. That means SKY was ready for a re-bound and all the indicators showed it was OVERSOLD.

Now today, HEAVY selling, HEAVY volume. New low. If it breaks .0010000 it could get very ugly. People think if it breaks .00100000 I'm buying, it's a steal, BUT
all the indicated are now showing OVERBOUGHT conditions. I would not go near SKY right now until the reason for the selloff is explained. Even do not buy when
selling slows or stops. Swing traders are buying low and selling for 10K, 20K pops putting even more pressure on the supply.


Advice: If she breaks .00010000 stay clear away. I watched HBC go from .00340000 340K STS's to 16K STS's in four days. Then it dropped to 8K, 5K, 2K, and now it's sitting at .00000300 STS's. Not saying SKY will do  this, but even if SKY falls very low it still may not be a buying opportunity.

I would not even touch this coin until 1. An explanation from management is pressed. 2. The selling stops and volume dries up. 3. I see (4) consecutive green days indicating a TRUE reversal is in progress. OTN went to 880K STS's. It's now at 24K STS's.

I don't care if SKY falls to 20K STS's, I would not touch it now. SOMETHING IS WRONG HERE.
muffinman1552
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June 18, 2018, 09:01:12 PM
 #3800

Successor to Bitcoin + A new Internet

-- Skycoin Project --
Has been in development since Bitcoin was launched to the public.
Revolutionary new consensus algorithm "Obelisk" (neither PoW/PoS, next generation, based on Web of Trust).
New Blockchain Tech (Skycoin uses UXTX, the next generation after UXTO, enables native coinjoin).
No mining. No 51% attack. No double spending.
Global transactions in seconds instead of hours.
Blockchain transactions finally faster than credit cards.
Building an entire Ecosystem/Platform. Massive work underway.

Github Organization: https://github.com/skycoin
Skycoin: https://github.com/skycoin
Skywire: https://github.com/skycoin/skywire
CX: https://github.com/skycoin/cx
CXO: https://github.com/skycoin/cxo
BBS: https://github.com/skycoin/bbs
Messenger: https://github.com/skycoin/net

Website: http://skycoin.net
Wallet Client: http://skycoin.net/downloads
Blog: https://blog.skycoin.net/

Telegram Group: https://t.me/Skycoin
Slack Channel Signup: http://skycoin.herokuapp.com/
Slack Channel: https://skycoin.slack.com
Discord: https://discord.gg/MTepVHE

Twitter: https://twitter.com/skycoinproject
Reddit: https://reddit.com/r/skycoinproject
Facebook: https://www.facebook.com/skycoinproject

Market Tracker: https://coinmarketcap.com/currencies/skycoin/

Exchanges:
- C2CX: https://www.c2cx.com/trade_sky (Yuan/SKY, BTC/SKY)
- Cryptopia: https://www.cryptopia.co.nz/Exchange/?market=SKY_BTC (BTC/SKY)
- NEXT

Github Repos:

Skycoin Core: https://github.com/skycoin/skycoin

CX: https://github.com/skycoin/cx

CXO (object system): https://github.com/skycoin/cxo

CX Games: https://github.com/skycoin/cx-games

Teller: https://github.com/skycoin/teller

BBS: https://github.com/skycoin/bbs

Skywire (Meshnet): https://github.com/skycoin/skywire

Summary

Skycoin is a third generation cryptocurrency. The Skycoin project is a long term infrastructure project that began around the time Litecoin was launched. Skycoin is designed a successor to Bitcoin.

Skycoin is focused on implementing Satoshi's original vision for a cryptocurrency. Satoshi originally intended the Bitcoin network to be decentralized, over hundreds of thousands of computers. Today, the Bitcoin network is completely controlled by three mining pools. Bitcoin is no longer decentralized. Skycoin Project has developed a new consensus algorithm to achieve true decentralization.

In addition to fixing the outstanding technical issues with Bitcoin, the Skycoin Project is implementing a new next generation of foundational networking, storage and application primitives (a new internet). We believe that "blockchain" is just one of several new mathematical and algorithmic primitives, which will underly the foundation of the successor to the current internet.

- CX is the Skycoin Project's computation primitive (analogous to EVM, Solidity, Go, C/C++, Rust)
- CXO is the Skycoin Project's peer-to-peer immutable data storage and replication primitive (analogous to IPFS)
- Skywire is the Skycoin Project's communication primitive (analogous to MPLS, open-flow, TOX, mesh networking, darknet, i2p)
- "Skycoin" is the Skycoin Project's blockchain primitive, token and transaction infrastructure (analogous to Bitcoin, Ethereum, etc)

The Skycoin Project is not a simple blockchain project, but is designed as a platform and foundation infrastructure for supporting an ecosystem of applications.

=== Skycoin (SKY) ===

The Skycoin Project Coin (SKY) is focused on core features, security, usability and simplifying Bitcoin instead of adding features as a marketing gimmick.

There are still major outstanding problems with Bitcoin and those are the problems we are addressing.
- Elimination of the need for miners for network consensus through new algorithms, elimination of dependence on the human element in the network operation
- Duplicate coinbase outputs
- Signature malleability
- Reduction in complexity in implementation
- Dozens of security/crypto related improvements
- Elimination of external dependencies that create security concerns in Bitcoin
- 51% attack proof and strengthening against various attacks
- Simplified, more powerful data, transaction and wallet APIs
- Brainwallet, deterministic wallets as default
- Network security improvements
- Intrinsic support for gmaxwell's CoinJoin transaction privacy protocol
- New networking protocols to enable the verification of the mathematical prerequisites for consensus network convergence
- Separation of coin creation from the consensus network, to eliminate Bitcoin's tendencies towards mining centralization
- Directed bipartite TX/UTXO transaction graph structure which is more elegant and efficient than Bitcoin's multi-graph structure
- Provably upper bounded network, RAM and CPU resource usage for network operation
- Soft coded, adjustable blockchain size parameter to enable network transaction rate scaling
- Rolling unspent output state error correction coding in the block header for early detection of software/hardware non-determinism
- Blockchain/transaction/histrory storage database with constant time lookup, indexless operation for all major blockchain history queries
- Etc...

Skycoin is 51% attack proof and addresses many of the security issues in Bitcoin. Skycoin is designed to be a simpler, easier to use, more secure Bitcoin. Skycoin emphasizes simplicity, security and usability.

Skycoin is a major research undertaking and has taken several years. We are finishing up phase one of project implementation and then focusing on services and driving adaption.

Skycoin is being developed in collaboration between AKS, Myth and Syndicate under Darknet Plan and OP Redecentralize.

Infographics

http://i.imgur.com/VYd53ow.png

http://i.imgur.com/XVojFIK.png

http://i.imgur.com/PO9pKbo.png

http://i.imgur.com/zVKo8VP.png

http://i.imgur.com/3OVTH4R.png

http://i.imgur.com/UeOPPBX.png

http://i.imgur.com/v5mFSCL.png

http://i.imgur.com/sJ5FlUD.png

http://i.imgur.com/5giFIe4.png

Skycoin Distribution

Skycoin distribution explained here:

https://blog.skycoin.net/statement/skycoin-distribution-plan/

You can also trade Skycoin on Cryptopia and C2CX.

Skywire Meshnet Whitepaper

https://blog.skycoin.net/overview/skywire---skycoin-meshnet-project/

---

Obelisk is what makes Skycoin "Bitcoin 2.0". Obelisk is a sustainable alternative to proof-of-work. Obelisk is a system that replaces proof of work for blockchain consensus and eliminates the possibility of a 51% attack.

Obelisk was inspired by academic research into adversarial distributed time-stamping and algorithms such as Ben-Or's, Paxos, and the Castro-Liskov PBFT algorithm. Obelisk is a new solution to the Byzantine Generals problem which offers strong mathematical security guarantees, even when the majority of nodes are hostile.

- Obelisk whitepaper: http://downloads.skycoin.net/whitepapers/a-distributed-consensus-algorithm-for-cryptocurrency-networks.pdf
- Obelisk "layman" explanation: https://blog.skycoin.net/statement/obelisk-the-skycoin-consensus-algorithm/
- Obelisk technical explanation: https://blog.skycoin.net/overview/obelisk-skycoin-consensus-algorithm-information-pages/

---

Skycoin cannot be 51% attacked. No matter how much money or hashing power an adversary has, they cannot reverse transactions.

Skycoin Transactions are fast. Obelisk and specific design decisions may allow Skycoin to achieve transaction confirmation times as low as four seconds, without compromising security.

Skycoin does not waste electricity or consume exponentially growing, unsustainable amounts of electricity unlike Bitcoin.

Skycoin has no transaction fees. Users receive "coinhours" for holding coins, which are used for paying transaction fees. Transactions bid to enter a fixed sized block.

Skycoin transactions offer increased privacy. Skycoin is designed for advanced CoinJoin support.

---

Besides building a better, more robust, most secure, more usable Bitcoin, the Skycoin project is working towards several long term goals we believe are necessary.

Skycoin Darknet Project:
- Users receive Skycoin for contributing resources to network and expend skycoin for consuming resources
- Almost as secure as TOR/I2P, but with much high bandwidth throughput.
- Very difficult for ISPs to identify and throttle
- Inspired by cjdns

See: https://github.com/skycoin/darknet

Skycoin Meshnet Project:
- Uses Skycoin Darknet protocol over wifi mesh network
- Uses receive Skycoin for providing transit
- bridge the "last mile" between homes and fiber with a distributed wireless mesh networks and community ISPs.
- SOPA, PIPA, ACTA and the Comcast/Time Warner merger have made it clear that political solutions are no longer viable.

---

Development Process:

All Skycoin components are written in Go (Golang). There are multiple teams working on Skycoin and multiple independent software components required to achieve the long term vision of the project. This is an open source project.

Substantial coins are reserved and available for developers who want to contribute to the project.

---

Team:

https://blog.skycoin.net/statement/skycoin-team/

---

Design:

Skycoin tries to offer more security, greater privacy and better usability than Bitcoin.

Skycoin Philosophy:
- Complex systems cannot be secure
- Simplicity over complexity
- Decentralized but pragmatic
- Emphasis on usability

----

Partial feature list:

Security:
- Higher level of security for non-technical users with improved ease of use
- Deterministic ECDSA, enforced signature mutability
- Hardening against SHA256 pre-image attacks, hardening against side channel attacks
- Hardening against "offline" attacks on secp256k1
- Optional quantum computer resistant TwoStep protocol transactions
- Standardized remote signature HMAC API for hardware wallet devices

Privacy:
- Skycoin transactions have higher privacy than Bitcoin transactions ("wallet mixing", "money pot")
- Skycoin protects its users from identification for increased safety in hostile countries (ex. HTTPS/TLS tunneling)
- Stenographic wallets

Usability:
- Wallet supports Bitcoin and Skycoin
- 15 second transactions (point-of-sale)
- Simple 256-bit deterministic wallets
- Clients only need unspent output set instead of whole block chain ("Snapshot")
- Coins divisible to 6 places

Distributed Exchange:
- Off blockchain Transactions (through standardized API, "gateway")
- Powerful scripting language for contracts (non-turing complete statically typed LISP variant)
- Open Transactions type crypto-equities, bonds, options and other securities
- OTC gateway API (based upon FIX, SWIFT, FIXatdl)

The blockchain is for settlement between counterparties. Price data and bid/ask orderbook data is not in the blockchain, but supported through the gateway API. Fractional Skycoin transactions and micropayment are handled as off block chain transactions.

---

No Mining:

Satoshi has stated that mining is Bitcoin's only flaw. Miners are the greatest non-crpytographic threat to Bitcoin retaining value on geographic time scales. Mining introduce human factors and greed into the survivability of Bitcoin as a currency

- Dishonest miners may destroy Bitcoin
- We are close to a 51% attack
- gigahash.io has abused its hashing power to steal Bitcoin from gambling sites
- Services such as cex.io allow people to rent a 51% attack by the minute
- Mining pools will form cartels to orphan blocks mined by non-cartel members, to enhance their block rewards
- Mining cartels will rent capacity to orphan blocks from other pools, if the reward is greater than the cost
- Pools have begun capping block size to drive up transaction fees. Bitcoin transaction processing rate may be unable to keep up with growth in transactions from new users. Bitcoin is becoming unusable for micro-transactions.
- Every month more mining power is concentrated in the hands of a smaller number of people
- Mining ensures majority of new crypto-coins go to people with botnets, GPU farms and ASICs not available to the public.
- No one benefits from mining except miners and electricity companies
- Electricity used by mining is wasted. Money spent on mining is being thrown into a hole, burnt and the costs are passed on to every Bitcoin holder
- Mining will substantially increase transaction fees to unsustainable levels when block rewards decrease. Bitcoin transaction fees may reach a level higher than the banking system Bitcoin was created to replace.
- Miners selling newly created Bitcoins to pay equipment and electricity costs, drives down the price of Bitcoin.
- If Bitcoin reaches viability as the next global reserve currency, the incentives for nation states to monopolize and control mining will be too great to contain.

Skycoin was designed to eliminate mining completely and eliminate the problems it creates. Skycoin replaces reliance on honest miners with reliance on mathematics.

- Skycoin is more secure because it does not rely upon the good will of miners
- Skycoin transactions will be cheaper because there are no mining costs being passed on to users
- Skycoin transactions are not subject to 51% attacks by mining cartels
- Skycoin is environmentally friendly and sustainable. Skycoin does not require twelve coal power plants to power mining

Distribution will be as fair as possible.

---

These are some things we are working on.

Off Blockchain Transactions:

You can send and receive coins, instantly, with ~120 bytes of overhead, without cluttering the blockchain. Skycoin supports a secure, standardized interface for transmitting and receiving coins (and other assets) held by third parties.

You will be able to see, withdraw to the blockchain and transmit coins held by third parties, from within the Skycoin wallet. This protocol automates withdrawing and depositing assets into exchange accounts and enables bandwidth micro-transactions.

CoinJoin RFC:

- Skycoin naively supports a simplified CoinJoin protocol
- CoinJoin mixes transactions from multiple wallets to increase transaction privacy
- Skycoin is designed so that it is impossible to determine which transactions are CoinJoin transactions

Skycoin Coin Join Protocol:
- Three people send their inputs and outputs to a remote server
- Server creates a transaction containing the inputs/outputs from all three people
- The server sends each person the transaction.
- Each person verifies the transactions and sends the signatures for their inputs
- The server publishes the transactions.

This protocol is much simpler than zero coin while dramatically improving transaction privacy.

Wallet Shuffle RFC:

Shuffle provides a very easy way of moving coins between deterministic wallets. Shuffle is one of the ways Skycoin will improve wallet usability.

Wallet shuffle takes a seed for an existing deterministic wallet and seed for a new deterministic wallet and moves coins between the wallets using the Money Pot protocol. Every shuffle operation entails additional coin mixing and increased wallet privacy.

For instance,
Input wallet: 5a42c0643bdb465d90bf673b99c14f5fa02db71513249d904573d2b8b63d353d
Output wallet: 1d26c392b3c1b6c5c7947e07934d8256bdf084bcf89f58d82ebef3c986e4836c

FOR THE DEVS : I want an automatic translation feature inherent to internet content. So that you can basically learn other languages by diving through foreign content. I assume that this would have to be a browser application, but NETWORK SUPPORT would really solidify this basic feature.
please comply
Grin Grin Grin
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