Skycoin (SKY)

Skycoin (SKY) is a full ecosystem of the blockchain technology, launched with a goal to market the real use of public ledger technology and cryptocurrency, rather than doubting on its valuation. SKY uses its particular distributed consensus algorithm, known as Obelisk, in place of the most commonly used PoW and PoS algorithms. Obelisk utilizes the idea of only “web of trust dynamic,” which is known to distribute influence over the network and make consensus decision based on influence score of every node. Skycoin (SKY) works on CoinJoin protocol, which raises the anonymity and privacy of users by having many participants agreeing to create a single transaction only where some outputs have the same value. This blockchain platform runs its native cryptocurrency known as SkyCoin and can be easily traded against the famous cryptocurrencies such as LiteCoin (LTC), DogeCoin (DOGE), US dollars (USD) and Bitcoin (BTC). SkyCoin (SKY) also runs its initial coin offering platform known as Fiber, decentralized messaging system known as Sky-Messenger, decentralized social media channel known as BBS and its programming language known as Golang. It supports nearly 300 transactions/second, has transaction execution time lesser than 2 seconds and provides a secure network which is secure from 51 percent attacks.