Knowledge Base

Skycoin (The Coin)


Overview

Skycoin was created as an answer to the shortcomings of both Bitcoin and Ethereum. Born out of necessity, no other coin was fulfilling Satoshi’s original vision of a fully decentralized digital currency.

Skycoin’s platform is free from centralization and manipulation through its revolutionary Obelisk consensus algorithm. It features CX, a turing complete programming language built from the ground up to allow hundreds of thousands of devs to easily deploy applications to the blockchain. Skycoin functions as a currency with virtually-free transactions, soon-to-be-implemented absolute privacy, and Visa-like speeds with inherent asset-backed value not based on speculation.

Holding Skycoin generates Coin Hours which are used to purchase services on the Skywire network and can be exchanged for more Skycoin.