The project started in 2013 and has been in a RND since then. RND does take quite a lot of time especially when dealing with complex things such as blockchains and NEW consensus algorithms.
It has been built from scratch since 2013 and been improved upon since then.
Also they aren't just doing a new blockchain, they are launching a complete ecosystem with a lot more than just a "coin".
They have
Skycoin - Ecosystem and a deflationary currency Coin Hours - a inflationary currency Obelisk - New consensus CX - a programming language CXO - a immutable object system Skywire - a "new internet" Fiber - Which gives each coin launched on Fiber its own blockchain which can be configured UXTX - New transaction model instead of Bitcoins UXTO
And a few more things such as BBS, cloudcomputing, cloudstorage etc.
There is no reason for mining with a consensus mechanism that doesn't require mining. Mining is not efficient use of energy neither is it environment friendly. Therefore Skycoin is premined, as it does not waste any energy.
The distribution model is slow on purpose with hard-coded distribution requirements to ensure alignment with user growth and protection against inflation. The Skycoin distribution model is a fair and open process that will span the course of 14 years, at minimum.
The person running a Skyminer will earn Skycoin/Coinhours according to the amount of bandwidth that they forward. This creates an incentive to run and be a part of the network just like mining in bitcoin strengthens and gives an incentive to run the network.
When you buy a Skyminer from Skycoin themselves you dont just get a Skyminer, you get an amount of Skycoin equal to the total sum of what you paid. If you do not wish to buy a official Skyminer to support the team you are free to build a DIY Skyminer.
Couldn't someone get hella bandwidth and take over the blockchain or no?
Julian Lewis
>The project started in 2013 and has been in a RND since then. RND does take quite a lot of time especially when dealing with complex things such as blockchains and NEW consensus algorithms
OmiseGo 2.0 confirmed
Asher Reed
>It has been built from scratch since 2013 and been improved upon since then. The tech hasn't been built. There's no working consensus algo. It's under r&d for ... 5 years straight ... with no working proof of concept
>sky >not smoke and mirrors
Jordan Powell
No, you need subscribers to your node to get more importance on the network, but since nodes are distributed all over the world and and can subscribe to more than one, its literally impossible to take over the network
Colton Cooper
Skywire and skycoin are separate
Skywire is used to distribute the coins, not for consensus
So many brainlet 2017 retards obsessed with the decentralisation dump everything on blockchain meme
Oh well, you’ll see in 5 years
Dominic Rogers
No PUBLIC consensus algo. No FULLY IMPLEMENTED, PUBLIC working proof of concept
Gabriel Morris
So It's a super special PRIVATE consensus algo implementation? >we...we have a consensus algo implemented ... hidden deep in our secrit lab ... WONT SHOW!
Brayden Garcia
Would you develop a new consensus algo, and release it to the public before you were ready, giving all the soon to be copies a chance at shitcoining the hell out of it.
If you don't know anything about the team, where they are coming from, and you cannot grant them any level of trust you will just have to wait until you get in. for now. your loss You will get in. You will Skywire.
Dylan Fisher
This is what bitcoin did.
Lucas Peterson
You've got to be kidding me. Where were you last year??
Lincoln Rogers
Do you deny that bitcoin had a working consensus algorithm implemented from the start?
Elijah Roberts
No....... What I'm trying my hardest to nicely convey is that: This space is full of sociopathic scammers and they will do anything they can to fuck you over for a few more bucks. Keep your secrets(algo) from them until they won't stand a chance against you
Daniel Rodriguez
Was crypto like that in 2008
Nicholas Perry
Patent it then, just like Hashgraph.
Blake Cox
Better to test rather than put out something flawed/broken like the rest of the market has done.
It obvious after 6-7 years of development these guys are shooting for the moon. Now products, now marketing. BOOM get on the train!!
Alexander Kelly
>It's...it's...being tested! You have nothing. The project is supposedly 5 years old. You can't deliver. You will not deliver. You will continue to muddle the waters, because this is the only thing you have left.
Dylan Johnson
From the start, maybe. Nobody had actually taken advantage of the cornering the mining pool. Now that that's done on the back of Chinese commie electricity, Bitcoin consensus is broken.
How are those things scope creep? Those are independently run and finished projects. Not interdependent so that lack of completion of one blocks the other.
>sky's supporters first encounter with the term scope creep >not a confirmation of being a typical newbie layman investor that SKY snags
