Hey biz, what are SKY coin hours good for? I read you can use them to pay for bandwidth in the Skywire and also trade them for coins? How many of them do you get for holding SKY?
Hey biz, what are SKY coin hours good for...
Brandon Cook
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Dylan Martin
One sky in the wallet gets you one coin hour.. per hour :-)
Gavin Hill
Detractors say its for hoarding, but keeping coins in the wallet is helpful for a nr of reasons.. there s liquidity in that specific coin, market cap et
Henry Johnson
Coinhours are effective for preventing transaction spam. With Skywire, they will be used as a separate medium of exchange to compensate Skyminer nodes for services and act as collateral for offchain transactions and stuff.
Brody Morgan
maybe this is helpful
medium.com
Ryan James
however i dont understand why a coin hour actually has any sort of value..
could you explain?
Isaac Ortiz
It s a way to keep the currency from being exchanged
Nathan Clark
If coinhours are accepted in exchange for a service on the network, they would have value equivalent to the service in question. Furthermore, the Skycoin foundation will be using an auction system to buy back Skyhours with undistributed Skycoin and then burning the Skyhours.
Brody Howard
Sky is feeless for transactions so they use coinhours to create a network usage cap. That way you'll run out of coinhours before you can overspam the network and grind it to a halt like cryptokitties did on Eth.
Oliver Scott
”Coin Hours will hold a monetary value which will eventually be decided by the market”
prob under 5 cents, but a good value for a secondary token used inside the network