Skycoin(SKY) is a cryptocurrency made for the empowerment of trade in a peer-to-peer environment without the involvement of central authority. The platform aims to benefit all the users rather than providing control in the hands of some selected ones. Besides that, the Skycoin blockchain replaces the proof-of-work and proof-of-stake mechanisms with Obelisk, making it a fully democratic and decentralized consensus network. Obeliskis a web-of-trust mechanism that eliminates previous-generation issues and allows a community of nodes to audit network behavior.

The purpose of Skycoin is to provide a decentralized platform. For this, the Obeliskmechanism is utilized to fix the security problems related to the blockchain network. Also, it decouples the coin creation process that was previously done by mining. The procedure implies that the power is not concentrated in mining pools. Moreover, the algorithm is computationally inexpensive, which means block-making could run on a budget. Apart from that, for security, a two-node structure is built that runs on different algorithms but the same data structure. The incoming data on both nodes goes through fraud detection and authorship verification to serve nodes engaged in suspicious activities.

Furthermore, Skycoin employs the Skywire platform, which aims to create a more secure, rapid, and robust internet. The network is private, which means that you cannot be tracked as you are by ISPs (internet service providers). Also, users can earn Skycoin and coin hours for using hardware nodes that distribute both storage and bandwidth to the network. Holding Skycoin generates coin hours, which can be used to trade for services or exchanged for more Skycoins in the Skywire network.

The work on the Skycoin platform was started in 2011 by several developers. Synth is this network's project head and architect and comes from a strong background in cryptography and mathematics. Steve is the developer and now the project manager and wrote the primary Skycoin software in 2013–2014. Additionally, Michael Terpin handles various aspects of marketing, communications, and content production.

We update our Skycoin to GBP currency in real-time. Get the live price of Skycoin on Coinbase.

The current market cap of Skycoin is £0.00. A high market cap implies that the asset is highly valued by the market.

The all-time high of Skycoin is £40.22. This all-time high is highest price paid for Skycoin since it was launched.

Over the last 24 hours, the trading volume of Skycoin is £0.00.

Assets that have a similar market cap to Skycoin include Netko, BlazerCoin, Swarm City, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Skycoin is 0.