$0.0706

Sky (SKY) is an open-source digital currency and platform developed by a community, designed to support a hardware-based, peer-to-peer internet infrastructure. The project’s technology is built using the Golang programming language and operates on the Obelisk consensus algorithm. This algorithm relies on a "web of trust" model, where each network node subscribes to a set of other nodes, and a node’s influence is determined by the density of its subscriber network. This structure is intended to secure the network against manipulation by any single entity.

The platform’s main application, Skywire, is focused on decentralizing internet connectivity at the hardware level. Beyond providing bandwidth, Skywire aims to offer decentralized storage and computation services. The project team describes the platform as secure, scalable, and independent of traditional internet service providers. The system also separates coin creation from mining, which the team states addresses certain environmental and scalability concerns associated with other cryptocurrencies. Overall, the project seeks to provide an alternative internet framework through blockchain-based incentives, with an emphasis on security and usability.