Skycoin — Why is the Blockchain Significant?

▤ Summary

SHANGHAI, April 7, 2018 (Newswire.com) - Historically, distributed ledgers have been very difficult to maintain and operate, yet due to the innovations of blockchain technology they are quickly gaining widespread usage and utility.Operators, referred to as miners, run complex algorithms to solve and verify demanding mathematical equations (transactions) across a distributed network.A group of early blockchain developers from Bitcoin, Ethereum, and other projects had the imagination and foresight to realize that there were still glaring flaws in distributed networking and consensus present, so they created Skycoin Fiber.In order to eliminate the slow speed and high cost of transactions, with the Fiber network Skycoin’s team created a new consensus protocol known as Obelisk ( research whitepapers ).The Obelisk protocol is based on a “web of trust” which relies on certificate authority, thus reducing the amount of work (cost) required for consensus.

▦ Linked Companies

GitHub, Inc.

$1M to $5M