Skycoin profile
Skycoin Profile (SKY)
Rating: D | OK
Balanced Nano Cap
Project Safety Score

Thu, Jan 27, 2022 3:21 AM

D
Rating OK
Market Cap $4894994.8419522
24hr Volume $103244.06414999
Price $0.22249976554328
Review

Skycoin

coin

3rdgen imesh

The Skycoin Platform is the most advanced blockchain platform in the world. Developed by early contributors to both Bitcoin and Ethereum, Skycoin’s platform is completely secure, infinitely scalable, and ISP independent. It uses its own specific distributed consensus algorithm, called Obelisk, instead of other commonly used algorithms like proof of work (POW) and proof of stake (POS). Obelisk uses the concept of ‘web of trust dynamics’ which distributes influence over the network and makes consensus decisions depending upon the influence score of each node. Each node subscribes to a select number of other network nodes, and the density of a node’s network of subscribers determines its influence on the network. Skycoin is very fast. With transaction speeds close to 2 seconds and no transaction fees it can rival any other cryptocurrency on the market as a payment method. The transaction costs of Skycoin are covered by Coin Hours. This is value paid to Skycoin holders for each hour they hold a Skycoin. Skycoin is against charging transaction costs and mining incentives as it only drives up the costs of the network. The biggest benefit of Skycoin is that it is energy efficient due to the Web-of-Trust social proof. It can even run on a 30-watt cell phone processor making it great for mobile payments. Centralization becomes less of an issue when anyone can participate in the blockchain. Sia stores tiny pieces of your files on dozens of nodes across the globe. This eliminates any single point of failure and ensures highest possible uptime, on par with other cloud storage providers. A major goal of Skycoin is to promote actual usage of cryptocurrency rather than speculation. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycoin also has its own ICO platform called Fiber, their own deterministic programming language, CX, derived from Golang, a private decentralized messenger system called Sky-Messenger, and a decentralized social media platform, BBS. Here is another way to think of Skycoin: An open-source, community-owned, hardware-based peer to peer internet designed from first principles and leveraging the incentive system of the blockchain.

Read more in the whitepaper:
https://downloads.skycoin.com/whitepapers/Skycoin-Whitepaper-v1.2.pdf

Skycoin Project Statement

Project statements are provided by senior members of the project team and serve to tell the reader why the project has honorable intentions and why is definitely not a scam.

Please get in touch to submit a project statement for this project. Emails must be sent from official domain email addresses and will be verified before being accepted.

Full Report

Skycoin Safety Report

Skycoin has a safety score of 5.38

Skycoin is a nano cap coin.

Skycoin is suited to a balanced investment style.


Skycoin Profile

This profile has all the the data required to perform a thorough analysis.


Skycoin Red Flags

There are currently no Skycoin red flags.


Skycoin Development Score

The Skycoin project has 83 active source code repositories.

The most recent commit was Tue, Dec 14, 2021 12:22 PM

  • 681 Watchers
  • 1419 Stars
  • 1079 Mentionable Users
  • 0 Vulnerabilities
  • No commits in the last 28 days
Highlights:
  • extremely high stars
  • extremely high mentionable users
  • daily repo updates
  • good watchers
  • no repo stars

Skycoin Sentiment Score

The sentiment score indicates how well the wider community regards the project. We analyse social media platforms such a Reddit, Twitter etc to access if the community is talking positively or negatively about a project. Or if they are even talking about the project at all!
The more articles that are available to analyse, the more confident we can be about the score. If there is not a lot of data available on the internet to use, this should be a redflag as it can indicate that no one is posting or writing about this project.

Highlights:
  • The overall sentiment is very positive
  • A collection of articles to be just about confident of the sentiment

Skycoin Community Score

The community score indicates how active community is. Are they writing lots of articles and engaging in lots of conversations on the web? Where is the crypto communities attention spent? There are so many hours in the day to spend writing, reading, researching a project. So how much of this time is spent on Skycoin?

The larger a community is then the more eyes are on that project. Sharing information, red flags and concerns is more likely the bigger the community is. And larger communities are alot hard to censor and control - therefore they provide a diverse range of opinions.

Overall Skycoin has a strong community, posting and creating lots of content across the internet on social media, forums, blogs and websites.

Highlights:
  • extremely high hashtag tweets
  • extremely high gitHub account watchers
  • no reddit articles

Skycoin Awareness Score

The awareness score indicates how well Skycoin is known in the main stream. Its all very well for a project to have a discord channel to have 1000 users chatting all day about how great the Skycoin is but a good measure of longevity is how well the project is known by the general public.

Overall Skycoin this project is not known by the general community. If a project is new and has not had a lot of marketing or exposure then in general as the project grows the awareness score will increase.

Highlights:
  • very poor search result total
  • no number of news articles mentioning Skycoin
  • no number of headlines about Skycoin
  • very poor number of Skycoin YouTube videos

Skycoin Credibility Score

The credibility score indicates how credibility a project is. Does it have a ridiculous name? Is it run by a 13yr old in their basement? Is it just 2 days old and too early to tell?

Highlights:
  • Mature project age (released Apr 17, 2017)

Skycoin Volume Score

The volume score is the simplest of all our metrics and quite often the bottom line metric. It doesnt matter how well a project scores on the other factors, if it is only shifting a few thousand dollars a day in volume then there is a high chance you will left holding a bag

Highlights:
  • poor USD 24hr volume

Red flags come in all shapes and sizes

At the end of the day a cryptocurrency project requires you to part with your hard earned cash in order for it to become succesful.

You expect a level of transparency and professionalism from a project that is asking for your money.

There are all sorts of red flags which you should be weary of;

  • 404 (missing) websites
  • Expired SSL certs
  • Malware/Hijacked sites
  • Suspended Twitter accounts
  • Private Subreddits
  • SEC investiations

If you spot anything suspicious/resolved then please let us know.

Skycoin Red flags
  • No red flags
    No red flags have been identified. That doesnt mean its a 100% safe project, it just means that no red flags have been brought to our attention.

Skycoin Exchanges
Skycoin Explorers
SKY
Member Ratings (SKY)

3.92/5

12 reviews
Ratings and reviews left by our members do not impact the profile score.

Jose

Wed, Sep 8, 2021 7:55 PM
Recent stability will very likely develop into a more dynamic price after new project milestones are reached, whitepaper seemed solid enough and the tech is work in progress.
1 0

Carlos

Wed, Sep 8, 2021 5:39 PM
Definitely a strong fundamentals project.
2 0

Gnome

Wed, Sep 8, 2021 5:33 PM
Altcoins are surely on the rise, and this one is sure to be on the lookout. Decentralized internet is the next step in obtaining, or reclaiming, one's anonymity online. Still holding on a couple of bags because I believe on the purpose of the project.
2 0

Kris

Wed, Sep 8, 2021 6:09 AM
If you go through https://github.com/skycoin, you'll see that this project is under constant development and is aiming for a tyre hardware based decentralised internet, social media, communication, storage among other things. The most ambitious crypto project out there.
4 0

Kris

Wed, Sep 8, 2021 6:06 AM
If you go through https://github.com/skycoin, you'll see that this project is under constant development and is aiming for a tyre hardware based decentralised internet, social media, communication, storage among other things. The most ambitious crypto project out there.
4 0

Kris

Wed, Sep 8, 2021 6:05 AM
If you go through https://github.com/skycoin, you'll see that this project is under constant development and is aiming for a true hardware based decentralised internet, social media, communication, storage among other things. The most ambitious crypto project out there.
3 0

Gerard

Wed, Sep 8, 2021 6:02 AM
Very solid developing happening for the 4+years I’ve been watching this project, have released and still support hardware miner & wallet. One to keep in the back pocket for sure
4 0

Kevin

Wed, Jan 1, 2020 11:21 AM
LOL , is this a joke, a make belive company with horrific fundamentals and business model. If it’s not a scam it’s literally just horrible company in theory. Your better off donating as any capital allocated to skycoin pays for the rent car leases for these storytellers.
3 16

Pete

Tue, Dec 17, 2019 6:00 AM
Pure scam, with full of liars and bs.
3 15

Anon

Sat, Aug 17, 2019 8:08 PM
Scam. Sry guys.
7 14


100%

Profile Status

How complete is this profile:

No missing data points

Member Signals

3.92/5

(12 reviews)
Member Ratings
Market Cap Rank:
1210
Voted:
moon
Bulls v Bears:
neutral
Is Trending?
Member signals do not affect the profile score.

Skycoin Reddit

Skycoin Github

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