What is Skycoin?
Being a future-generation P2P ecosystem and operating on a blockchain, Skycoin owns a special consensus algorithm which was designed by Ethereum programmer. It’s identified as Obelisk and differs from PoS, PoW and others cause its basis on the “web of trust dynamics” idea. The chain aims to implement cryptocurrencies in everyday life. Additionally, Skycoin owns a special platform for ICOs known as Fiber. The system is powered by the SKY coin, which is a third generation crypto coin. If you keep one SKY in your wallet it will create an extra one each hour. This is called a Coin Hour and you can simply consume them in the chain.