What is Skycoin?

Skycoin is a blockchain platform developed by early contributors to Bitcoin and Ethereum. It employs a unique distributed consensus algorithm called Obelisk, which utilizes a web-of-trust model to manage network influence and consensus decisions. The platform enables fast transaction speeds of approximately 2 seconds with no transaction fees, funded by a system called Coin Hours that rewards holders for their ownership duration.

Skycoin aims to enhance the practical use of cryptocurrency by introducing various applications within its ecosystem, including Skywire, which seeks to decentralize internet infrastructure at the hardware level. Additionally, Skycoin features its own ICO platform known as Fiber, a programming language called CX derived from Golang, a private messaging system named Sky-Messenger, and a decentralized social media platform called BBS.