Your cryptocurrency is totally reliant on centralized ISPs and government owned infrastructure.
If your crypto can be rendered unusable by governments, invading forces, or natural disasters, then is it really decentralized?
ISPs are centralized. They can choose to block all cryptocurrency traffic. They can choose to block all encrypted traffic. They can choose to block all traffic entirely. They can choose to block traffic for specific individuals. They can be shut down by governments, or invading forces. They can be disrupted by natural disasters. Any of these events will render most cryptocurrencies unusable and worthless in the affected region or country.
Many countries have already shut down Internet access. And who’s to say that even in the most liberal democracies, governments won’t crack down on the use of digital currencies if those currencies begin to threaten the government’s taxation revenue, and their financial control of the population.
Every other blockchain platform can leverage this Skywire infrastructure to truly decentralize their own ecosystems. By installing Skyminer nodes and routing traffic over Skywire, even Bitcoin, Ethereum and XRP users can transact in their preferred digital currency during situations in which the traditional Internet is unavailable.
Skywire delivers the final piece of the puzzle necessary to make all cryptocurrencies fully decentralized.
Regardless of which platform we support, we can all agree that we’re in this market because we believe in decentralization and freedom from government control.
Skywire’s success is therefore in the best interest of every blockchain project. Any development team that hopes for their cryptocurrency to be truly decentralized, and no longer reliant on legacy Internet infrastructure, should consider the strategic deployment of Skywire nodes among their communities.
Consensus is currently secured by a masternode system, which is a very reliable solution used by numerous crypto projects. As with all masternode-based crypto platforms, the masternode writes blocks into an immutable ledger which is synchronized with all nodes in the network.
Every Skycoin wallet contains a complete copy of the blockchain. Anyone with a wallet can send a transaction which creates a block that is written into the immutable ledger by the masternode and then synchronized with the thousands of other nodes in the network, creating a distributed consensus as to the state of the blockchain.
Since only the masternode writes blocks, Byzantine Fault Tolerance is not an issue and a traditional consensus algorithm or protocol (such as Proof of Work or Proof of Stake) is not currently required in order to secure this consensus.
Below is the code for Skycoin's blockchain and visor, demonstrating UTXO block verification across the distributed ledger. It shows that the blockchain is distributed throughout nodes that connect to each other in a peer-to-peer fashion.
A blockchain is an immutable data structure, and when the blockchains on each node are synchronized, a consensus exists regarding the state of the blockchain. Being an immutable data structure, it is not possible for even a centralized validator node to alter the transaction history without it being very obvious what has occurred.
Even if Obelisk was never released, Skycoin could continue to run quite successfully on this masternode system forever, without negatively impacting Skywire or CX or Skycoin Fiber or any other part of the Skycoin ecosystem. Other major crypto platforms use similar central controllers (for example IOTA).
Luke Lee
Also, Skywire doesn't even require consensus to work. It's a decentralized meshnet, not a cryptocurrency.
Grayson Morgan
What does that have to do with skywire?
Matthew Williams
Literal wall of garbage. If the algo existed you would need only two lines to reply, one with the paper describing it and one to the github repo.
Dont bother linking the withdrawn paper, Ill just point out it's withdrawn and you'll have to start the whole thread again.
Owen Hall
The Obelisk repo is private so pajeets like you can't steal the code. But you completely missed the point of my post. Even if Obelisk is never released, Skycoin can continue to run on the current masternode system forever. And in any case, this has nothing to do with Skywire, which is global decentralized meshnet that doesn't actually equire consensus.
>The Obelisk repo is private It's not private, it doesn't exist. It has no plan, no code, nothing. Never existed, never will. >Even if Obelisk is never released, Skycoin can continue to run on the current masternode system forever lol. The "masternode system" means that synth contols the entire ledger from his "node" and can change balances at will (including the coins you get paid)
Ryder Cook
>It's not private, it doesn't exist. It has no plan, no code, nothing. Never existed, never will.
It will be released this year. But please do go ahead and post your proof that it doesn't exist.
>lol. The "masternode system" means that synth contols the entire ledger from his "node" and can change balances at will (including the coins you get paid)
There is less concern about centralization in the case of Skycoin because there is no mining, no transaction fees, and no block rewards in the protocol. This means a whole class of 'coin creation' attacks is eliminated. There is no way to create new coins. The worst thing a malicious block signer could do is attempt to slow down the system with multiple transactions. In the event the masternode is unavailable, new transactions simply won't be confirmed until the system is restored.
Some fudders suggest that Skycoin could use the masternode to alter account balances. While theoretically true, there is no obvious motive for doing this, as any such changes would be immediately obvious to all nodes on the network, and it would destroy faith in the project. After spending seven years developing the platform, it is inconceivable that the developers would deliberately destroy it.
This FUD is equivalent to saying "don't invest in Amazon because Jeff Bezos might choose to destroy his company". Yes, in theory any traditional company or cryptocurrency platform could potentially be destroyed by those who develop it, but the risk is very low.
>Consensus is currently secured by a masternode system Jesus, you literally don't understand anything.
Julian Gutierrez
>Anyone with a wallet can send a transaction which creates a block that is written into the immutable ledger by the masternode and then synchronized with the thousands of other nodes in the network, creating a distributed consensus as to the state of the blockchain.
Exactly. Skycoin fudders literally don't understand what consensus means. If there's an immutable synchronized copy of the ledger across thousands of nodes then there's a consensus. Since only the masternode writes blocks, Byzantine Fault Tolerance is not an issue and a traditional consensus algorithm or protocol (such as Proof of Work or Proof of Stake) is not required in order to secure this consensus.
Skycoin "no consensus" fudders have been completely BTFO recently.
(although none of this has anything to do with your OP about Skywire)
>It will be released this year. It won't >But please do go ahead and post your proof that it doesn't exist. Prove that it does. >The Skywire network has literally 9500+ nodes Those "nodes" have no say in the state of the ledger. It is 100% centralised, meaning the dev controls the account balances.
Of course, you can choose to say that Skycoin is lying. In the same way you said they were lying about Skyminers, and hardware wallets, and CX games, and Sky Fiber projects, and Binance partnership, and mobile wallets etc. Until all these things were delivered as promised.
>Those "nodes" have no say in the state of the ledger. It is 100% centralised, meaning the dev controls the account balances. The OP isn't talking about the ledger you absolute retarded brainlet. This OP is about Skywire, and you responded with "hurr durr only one node". Wrong, there are over 9500 nodes.
As for the Skycoin ledger, some fudders suggest that Skycoin could use the masternode to alter account balances. While theoretically true, there is no obvious motive for doing this, as any such changes would be immediately obvious to all nodes on the network, and it would destroy faith in the project. After spending seven years developing the platform, it is inconceivable that the developers would deliberately destroy it. This FUD is equivalent to saying "don't invest in Amazon because Jeff Bezos might choose to destroy his company". Yes, in theory any traditional company or cryptocurrency platform could potentially be destroyed by those who develop it, but the risk is very low.
Lmao. A video of your coked up CEO ranting about whatever crazy nonsense he's making up this week? That qualifies as proof for you? Most people would require things like, yanno, code? Math? You know, words and numbers? Coked up ranting doesnt generally pass peer reviewed.
James Collins
Skycoin doesn't have a CEO.
Please post your evidence that Synth is "coked up".
The Obelisk repo is private so pajeets like you can't steal the code.
But you completely missed the point. Even if Obelisk is never released, Skycoin can continue to run on the current masternode system forever.
In any case, this has nothing to do with Skywire, which is a global decentralized meshnet that doesn't actually require consensus.
You already posted the second half of this comment up here But you did a bad job copypasting it from your list of canned responses the first time so there are two errors
Hunter Watson
SKY is probably the most legitimate of all blockchain projects apart from BTC. The fact that it attracts so much low-IQ fud shows just how threatened other projects feel. Skycoin unironically makes most other cryptos obsolete.
Dylan Thomas
It was the same response to the same fud. If you keep repeating the same fud then you can expect the same response.
I'm not inventing anything, these are easily verifiable facts. Skyscam has NO consensus algo, and it never will. It is 100% centralised, with the dev having full control of the ledger.
Zachary Morris
> It's not private, it doesn't exist. It has no plan, no code, nothing. Never existed, never will.
Skycoin has a huge range of working products. They delivered everything else they said they would deliver so why should Obelisk be any different?
And Skywire doesn’t even need Obelisk anyway so I’m not sure what your point is?
Gabriel Lopez
>They delivered everything else they said they would deliver so why should Obelisk be any different? Because duct-taping a bunch of raspbi pis together is very easy, but creating a novel effective consensus algo is very VERY hard.
Aiden Diaz
Skycoin has a lot of hardware and software products, but none of them involve duct tape. Try again.
Isaiah Russell
Disgusting centralized scam.
YOU DO NOT CONTROL YOUR FUNDS, THERE IS NOT REAL DEVELOPMENT. ANYONE CAN COPY AND PASTE A VPN LIKE THEY HAVE.
STAY THE FUCK AWAY
Jason Jones
>not real development Ranked number 8 for GitHub activity desu.
>Skyscam has NO consensus algo Since only the masternode writes blocks, Byzantine Fault Tolerance is not an issue and a traditional consensus algorithm or protocol (such as Proof of Work or Proof of Stake) is not currently required in order to secure consensus. Blocks are written into the immutable ledger by the masternode and then synchronized with the thousands of other nodes in the network, creating a distributed consensus as to the state of the blockchain.
>and it never will. Skycoin’s groundbreaking consensus algorithm, Obelisk, will be released later this year (2019). Obelisk makes Proof of Work and Proof of Stake consensus algorithms obsolete, and is the biggest breakthrough in blockchain consensus for the past decade.
>It is 100% centralised, with the dev having full control of the ledger. Full control to do what? Sabotage the project they've been developing for seven years? If you're worried about devs sabotaging their own project then you can't invest in any cryptocurrency, or any traditional company for that matter.
Some fudders suggest that Skycoin could use the masternode to alter account balances. While theoretically true, there is no obvious motive for doing this, as any such changes would be immediately obvious to all nodes on the network, and it would destroy faith in the project. After spending seven years developing the platform, it is inconceivable that the developers would deliberately destroy it.
This FUD is equivalent to saying "don't invest in Amazon because Jeff Bezos might choose to destroy his company". Yes, in theory any traditional company or cryptocurrency platform could potentially be destroyed by those who develop it, but the risk is very low.
>Skycoin’s groundbreaking consensus algorithm, Obelisk, will be released later this year (2019) No it won't. >Full control to do what? Change account balances to arbitrary numbers. Basically the worst defect imaginable in a cryptocurrency.
Asher Bennett
>No it won't. Imagine being this desperate. You have no idea whether Obelisk exists or whether it will be released. If it is private for security purposes, and before it's intended release date, then what is your issue?
You sound like an absolute faggot.
Adrian James
Only for a brainlet, Skycoin is centralized via masternodes. Synth literally confirms transaction by hand.
Xavier Collins
>Change account balances to arbitrary numbers. Basically the worst defect imaginable in a cryptocurrency.
Sabotage the project they've been developing for seven years? If you're worried about devs sabotaging their own project then you can't invest in any cryptocurrency, or any traditional company for that matter.
Some fudders suggest that Skycoin could use the masternode to alter account balances. While theoretically true, there is no obvious motive for doing this, as any such changes would be immediately obvious to all nodes on the network, and it would destroy faith in the project. After spending seven years developing the platform, it is inconceivable that the developers would deliberately destroy it.
This FUD is equivalent to saying "don't invest in Amazon because Jeff Bezos might choose to destroy his company". Yes, in theory any traditional company or cryptocurrency platform could potentially be destroyed by those who develop it, but the risk is very low.
You idiot. Skycoin is not a traditional company that has traditional guards, you are going to get burned for being so stupid (but you probably already have). It's not DECENTRALIZED, I don't think you understand even point one of the reasoning for cryptocurrency.
Matthew Williams
>Synth literally confirms transaction by hand
Synth must be some sort of advanced AI if he can manually confirm hundreds of transactions a day while also having time to develop Skywire and Skyminers and antennas and hardware wallets and desktop wallets and mobile wallets and Fiber and CX and games and apps and books and attend conferences and be active on Twitter and Telegram at the same time.
The truth is, anyone with a wallet can send a transaction which creates a block that is automatically written into the immutable ledger by the masternode and then synchronized with the thousands of other nodes in the network, creating a distributed consensus as to the state of the blockchain. It doesn't require any manual intervention.
I remember pajeets here saying prove skyminers exist, prove hardware wallets exist, prove there will ever be any games in CX, prove there will ever be any ICOs launches on Skycoin Fiber.
Skycoin has always delivered on its promises.
But like others have said, what the fuck dies this consensus fud have to do with Skywire?
Sebastian Russell
+1
There’s huge potential for other cryptos to use Skywire to achieve transport layer decentralization, and I can see lots of projects partnering with Skycoin for this purpose in the future.
But biz doesn’t deserve Skycoin. Most brainlets here would rather throw their money at tokens and forks, while fudding the only project producing a massive portfolio of unique hardware and services.
Biz is literally full of teenage retards who buy a few dollars worth of ERC20 tokens and think they’re crypto experts.
Kayden Thompson
>Burden of proof fallacy. You have the burden of proof. The Skycoin team says it exists, and so far they've delivered all the other products and solutions they said they'd deliver, so I choose to believe them. But even if it didn't exist, Skycoin could keep on running on the current masternode system indefinitely. And it literally doesn't impact Skywire at all, so you really do need to make up some new fud now. This one is done.
Skyfudders appear to have run out of ammo. All they seem able to do these days is screech autistically about Obelisk not being released yet, even though this has literally no negative impact to all the other Skycoin components.
It would be smart for every one biz to hold at least 1K SKY as suicide insurance, because the pink wojaks are going to be off the scales here when Skycoin hits $1000, which would only put it at Ethereums ATH market cap, and ETH is literally used for nothing other than launching shit-tokens and running Ponzi games.
Logan Ward
Why the fuck is Skycoin not censored on /biz yet? We’ve all been calling for a Skycoin ban for months yet the jannies do nothing. What the fuck? WAKE UP JANNIES AND CENSOR THIS SKYSCAM!!!
Grayson Hughes
WTF??? I love Skycoin now!
Jonathan Jones
Skycoin will be one of the top gainers this year.
Gabriel Evans
Skycoin is a hugely ambitious project. If they can pull off even 10% of what they set out to achieve then it’s going to be massive.
Forget Skywire. CX and Fiber alone are enough to send Sky to the moon. One they complete this integration, literally every Dapp and ICO out there will be moving to Skycoin.
Caleb Collins
>every person NEEDS herpes
Adrian Lopez
>literally every Dapp and ICO out there will be moving to Skycoin.
Lol, do you hear yourself? How old are you, 14?
Bentley Reyes
This shill thread opened with the premise that governments are going to stea our crypto so we need to buy Use Skywire to be safe. Skywire is dependent on Skycoin as currency. Skycoin is centralised. If governments wanted to shut down Skywire they could just seize control of the masternode from the devs.
You’re asking us to trust the devs. Crypto is supposed to be trustless. You clearly don’t understand this point.
Asher Kelly
No pajeets have ever asked for proof skyminers and wallets exist. People only ask for proof obelisk exists. There is never any proof.
Ayden Campbell
This
Bentley Murphy
>ERC20
Isaiah Wilson
>non-crypto
Joshua Walker
Do you belong to the faggots that got skycoin banned from leddit? Because 99% of cryptos shilled here are more shady than skycoin.
Chase Sanders
Nope. Sky is apex scam
Evan Parker
>Skywire is dependent on Skycoin No, Skywire is not dependent on Skycoin. Skycoin is currently used as an incentive to run nodes, but the nodes would still work just the same without this incentive. If a government managed to 'seize the masternode' during the next few months before Obelisk is launched, then this would not prevent the Skywire nodes from running. It would just mean node operators don't get paid to run them. The rest of your post is also incorrect since it was based on this false premise. Please do a little bit more research next time.
Newfag spotted. If you'd been here over the past couple of years you would remember that your pajeet buddies absolutely asked for proof of these things, and claimed they didn't exist.
OP doesn’t say anything about governments stealing our crypto. And you don’t seem to understand how Skywire works. Perhaps you’ve been drinking?
Brayden Sanders
29. Why, how old are you?
Carson Williams
> You’re asking us to trust the devs. Crypto is supposed to be trustless. You clearly don’t understand this point.
He’s right though. Doesn’t matter what crypto you support, the devs can fuck it up. They can exit scam or stop developing or write some code that doesn’t work. Even the Bitcoin devs fucked it up with bcash and a million others stupid forks. Ethereum forked after it was hacked. Shitcoin devs screw up all the time.
Every crypto is dependent on the devs, decentralization is irrelevant to this.
Christopher Taylor
>It's not private, it doesn't exist. It has no plan, no code, nothing. Never existed, never will. That's not true though. Key aspects of the Obelisk code are kept in private GitHub repos, to prevent competitors from copying the code. However, many commits are public and can be found here:
