The Skycoin team have announced that their taking blockchain project to the Korean region. The highly functional blockchain project is primed to revolutionize the distributed ledger technology world.
Unlike Bitcoin and Ethereum that are the first and second generation blockchains respectively, Skycoin is blockchain 3.0, and the platform is focused on making users benefit from its infinite scalability and decentralized engineering.
Skycoin gives users all the inherent benefits of bitcoin and ethereum without the scalability and centralization issues.
The Skycoin project has three major components that make it work efficiently. They are:
– Skycoin – the native altcoin of the project
– Skywire – the decentralized wireless mesh network for a highly secure and super fast web 3.0
– Obelisk – the web-of-trust algorithm of the Skycoin platform
– Fiber – a parallel system of blockchains with infinite scalability.
The Skycoin Excellence
Skycoin uses the Fiber protocol to solve its scalability issues. Fiber comes with parallel blockchains that makes it possible for applications to have fully customizable implementations, while also strengthening the network to handle unlimited projects.
Importantly, Skycoin uses the CX programming language to mitigate the issue of security. The CX programming language also allows users to create smart contracts on the Skycoin network.
The Skycoin skywire also gives users financial incentives and is focused on creating a newer version of the internet that will be faster, more secure and reward users for sharing their excess bandwidth.
Skycoin South Korea
Generally speaking, Koreans are never far behind in the tech world. The region has consistently taken the first position in the Bloomberg innovation index, and it’s also a top contender regarding technical density.
In the cryptospace, Korea also maintains a top spot, with a considerable chunk of the largest crypto exchanges being backed by huge conglomerates in the region.
Skycoin in its part, chose the region because of the Korean people are tech-savvy and often love products that are innovative, easy to use and exciting.
Case in point, the Kakao talk app only came into the region just recently; however, it has won the hearts of the people because of its smooth and easy to use nature.
In the same way, Skycoin is looking to perfect the limitations of existing blockchains and offer users a convenient, incentivized platform that will increase blockchain adoption in the region.
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