What is Skycoin?
The building blocks for the future of the internet.
After a long and productive period of research and experimentation, Skycoin is now close to an important milestone, we are setting the foundation for the decentralized internet.
Skycoin is is an open source project, the result of a large collaborative effort between multiple interdependent teams. It began in 2012 with the initial goal of addressing several of bitcoin problems and limitations and introduced the UXT model, CoinJoin protocol and price ceiling. So, as time passed, it evolved into a multi-layered technology platform aiming to become the foundation for the decentralized internet.
Skycoin consists of six essential components:
- Aether: is Skycoin’s is our key value store replication protocol.
- CXO: is Skycoin’s immutable object system (whose objects are replicated over aether)
- Skywire : is Skycoin’s software defined networking standard. Of which meshnet is a subset or operating mode.
- BlockDb is Skycoin’s blockchain storage and replication system. Over aether/CXO eventually.
- CX: is Skycoin’s turing complete application language. For blockchain and off.
- Skycoin: is the secure, anonymous and fast transaction token powering the Skycoin platform.
Skycoin is a complex, long term project, hence it is useful to divide the Skycoin development into three main phases.
Phase one began in 2012 and was primarily a research and experimentation period which dealt with the formulation of the initial technical boundaries of the Skycoin platform.
Phase two began early 2017 and will focus on building an active community and bootstrapping the Skycoin economy via a rich ecosystem of applications and services, aimed at solving several real-world problems.
Phase three, scheduled to begin Q2 2018, will focus on large scale adoption and real world integration.
Skycoin Features and Applications
Skycoin comes with a robust technology stack, but we know that for Skycoin to succeed, the technology needs to fade into the background. Which is why we are working on creating three consumer applications as a showcase for the Skycoin technology:
- A VPN application based on the Skywire network protocol
- A messaging application based on Skywire network protocol
- A distributed content management system based on Aether/CXO
Additionally, there will soon be bounties for people creating decentralised music, file sharing and movie streaming applications on the Skycoin network.
We have long wanted a more secure, open and distributed Internet and we’re glad to say that Skycoin is finally building it.