SKY

Skycoin is a blockchain-based cryptocurrency that aims to revolutionize the internet by creating a decentralized ecosystem where transactions and data are secure and private. It's part of the Skywire project, a new type of internet, known as the “new internet for the new world.” Skycoin serves as the backbone for this system, facilitating transactions within the Skycoin ecosystem. Skycoin operates on the Obelisk consensus algorithm, which claims to eliminate issues of centralization seen with Bitcoin and other cryptos. This decentralized approach also aims to make internet access more egalitarian by rewarding users, known as “Skyminers,” who contribute resources such as bandwidth to the network. Despite these innovative features, potential investors should be aware that investing in cryptocurrencies like Skycoin involves significant risk due to market volatility and regulatory issues. Therefore, comprehensive due diligence and potentially consultation with a financial advisor are advised before investing.