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Open your internet browser and you are free to browse whatever you fancy, or so it seems. Truth is, corporate and government filters control what news and other content you access on the ‘World Wide Web’. And what you do access is channeled through central data repositories where your personal data and browsing habits can be easily packaged and sold.
The Skywire peer-to-peer network has redesigned the Internet to give netizens control of their content and data. The alternative Internet prevents the online pillage of your personal privacy and will by allowing you to bypass ISPs. On this autonomous network with its own Blockchain-hosted ‘world wide web’ and cryptocurrency, you are your own ISP.
A Sharing Internet Economy
On this radically egalitarian Internet, the Skywire community gets paid for providing the Internet service. Instead of paying an ISP for service, you are incentivized to perform functions on the shared services ISP. The currency of the free internet economy is Skycoin. Each time you forward traffic or provide network resources to others, you receive Skycoin. You can sell more Skycoin by providing popular content or high bandwidth in high trafficked areas.
In a sea of ICO token issuance, the Skycoin provides a unique store of value. Skycoin has developed an enviable technological edge by making its shared social purpose central to the development of its platform and currency. As many ICOs run pump-and-dump fundraising schemes in the current Blockchain bubble, genuine empowerment of the Skycoin community is delivering value for all.
The consensus algorithm at the core of the platform has not only rallied developers around producing a viable P2P free internet model but also fixing many of the major problems of cryptocurrencies. The project has benefited from the coordinated knowhow of over 80 Blockchain developers scattered across the globe who coordinate research over the Github.
Together, this community has fixed speed bumps, and replaced centralized mining and high mining fees in the Bitcoin network. In the process, Skycoin is making cryptocurrency compatible with the real world of commerce. Skycoin transactions are processed within two seconds, versus 10 seconds for a Visa transaction and an hour for a bitcoin payment, making it suitable for point-of-sale (POS) payment systems. A major difference is the transaction is private and anonymous. This confidentiality is accomplished by the CoinJoin protocol, which mixes transactions from more than one wallet.
The Digital Gold Standard
When you do earn Skycoins, this inflation-busting coin creates a stronger store of value than that realized by current fiat and crypto currencies. Skycoin is setting the gold standard of the crypto economy by creating a cryptocurrency that is not prone to the speculation and inflation that debases crypto and fiat currencies.
Skycoin has been designed to discourage ‘hot money’ from artificially inflating the currency. One way is through the wide distribution of its coin, with the rate of distribution decreasing over time. The aim is to put the coin in the wallets of its community members, rather than speculators and miners.
The distribution is planned in small increments over a longer time period, in contrast to the pump-and-dump schemes, in which ICOs seek to raise as much money as quickly as possible in an initial coin offering. After the initial 30 percent distribution of Skycoin, five percent of the coins will be distributed annually over a 14-year period. In this way, distribution increases as the number of users participating in the community increases, thereby further discouraging inflation of the token.
The Currency of the Free Internet
The initial 30 percent of Skycoin tokens (SKY) was distributed through the ICO in 2017 and is capped at 100 million coins.The coins are minted by Skycoin miners using a mining system that removes transaction fees and the block rewards that incentivize bitcoin miners to monopolize the issuance of the currency. The current distribution of Skycoin is still open. SKY is sold on various crypto exchanges, listed on the Skycoin website. As the network develops, your Skycoin can also be used on messaging apps, social networks and VPNs. More Skycoin apps and tools are under development.