SkyCoin Plans On Making Cryptominning Obsolete
The cryptocurrency is undergoing revolutionarily moment with folks of Bitcoin, Litecoin and Ethereum dominating the current scene. Bitcoin has been skyrocketing with per coin of $7000 and its continue to grow and blockchain progress toward true globalization.
But the downside of the Bitcoin has to do with the mining aspect of the currency.People with more resources are able to mine resulting in issues of update and unfair management of cryptocurrency.
If we want to get out of the dominance of 3 mining cartels that hold Bitcoin hostage, we have to improve the Bitcoin itself drastically or look towards other tech that works for all of us. So, in order to create a currency and blockchain where people with more resources cannot hold the rest of the network, the entire concept of mining needs to be dropped according to SkyCoin
SkyCoin, plan on ushering users into new age of generational cryptocurrency making cryptominning obsolete. SkyCoin aim to continue to cut the power of miners and moving the web to trustable ecosystem.
The thing you have to realize about SkyCoin is that these guys are in it for the long-term. The project is already one of the oldest running cryptocurrency projects in the world and their founding concept is close to being implemented. The new internet would come later as it involves a much more hardware-related presence around the world and participation.
Currently the short term of the company is to launch a new mobile wallet and among other project including coding rewrite, exchange federation protocols.
On other relating project SkyWire want to develop a new fully decentralized peer to peer internet.