Technology is advancing at an unprecedented rate. As we progress into a further hyper-connected world the reliance on this technology is becoming more apparent. These advancements in technology, such as the rise of the blockchain technology have allowed companies to utilize a decentralized ecosystem in varying industries worldwide. This technology is, in turn, inspiring trust and providing a level of security that was once thought to be impossible. One such company that has made an impact in this ever growing industry is Skycoin.
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Skycoin is a blockchain based company that believes in providing a service allowing the internet to be more transparent and further increasing the accessibility on a global scale. Re-imagining the way in which the world wide web connects people, Skycoin aims to overhaul and revolutionize the global connectivity of people worldwide.
Skywire at its Core
Skywire is a blockchain-based internet service that removes and replaces the aging centralized protocols used in current day systems. Skywire consists of thousands of nodes creating a mesh based network. These nodes communicate with one another; controlling, forwarding, and routing internet traffic. The mesh network of nodes creates a web-like network providing a more secure and stable solution to the current world wide web. Being based on the blockchain allows Skywire to be decentralized with increased functionality, as well as security. Skywire may be the solution to the traditional centralized TCP/IP system.
Skywire uses a Multi-Protocol Label Switching protocol which has been updated so that it is suitable for its network. MPLS has many advantages over the traditional protocol including scalability and faster data transfers across any platform. The advantages do not stop there, MPLS utilizes a robust privacy functionality that is enabled by making it so that each node on the network can only view the previous node and the next jump for the data packet.
The level of privacy provided by Skywire is far superior when compared to previous protocols IPV4 and IPV6. This alone shows that the developers behind Skywire have developed Skywire with security in mind, therefore, inspiring trust among its users. Skywire is an internet built by the people and for the people away from the centralized stronghold that legacy ISPs have on the world’s internet services.
Skywires spider-like web of nodes allows users to choose their preferred node and only pay for the bandwidth they use, therefore, breaking down barriers between countries. By only paying for the bandwidth they use it will push the price of internet costs down and hand back control to the users on a pay as you use scheme. This feature inspires trust from Skywires users as in theory they can become their own internet service providers. Skywire is revolutionizing the world wide web and creating an internet for the people which is drastically less expensive than any other services currently being used by the general public.
Skywire Testnet Release
Skywire released its testnet services on 22nd May, 2018. This initial software will allow users to test the capabilities of a decentralized internet, giving a peek into what the Skywire ecosystem will be going forward. Skywire will also be using feedback from users to improve the service they provide. During this initial testing phase, Skyminers with stable nodes with an uptime of above 75% will be given Skycoins as a way of rewarding users for their participation in this essential stage of testing the network. Self-built DIY miners from the community are also eligible to participate, subject to confirmation of application by the Skycoin team and will be approved on a first come, first served basis.