what's Skycoin?

Skycoin is an advanced blockchain platform aimed at creating a secure, infinitely scalable, and ISP-independent network. Developed by early contributors to Bitcoin and Ethereum, it utilizes a unique Obelisk consensus mechanism based on web-of-trust dynamics. Nodes influence consensus through subscriber networks, enabling transaction finality in about 2 seconds without fees—costs are offset by Coin Hours, a time-based value accrued to holders. This design rejects mining incentives and transaction fees to minimize network expenses. The ecosystem prioritizes energy efficiency, running on low-power hardware like mobile processors, reducing centralization risks. Key components include Skywire for decentralized bandwidth, storage, and computation; Fiber for ICOs; CX programming language; Sky-Messenger for private communication; and BBS for social media. Skycoin seeks to drive practical cryptocurrency adoption through hardware-level internet decentralization.

A pharmaceutical company rebranded to SKY treasury and acquired nearly 9% of circulating supply.