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What is Skycoin?

Skycoin is a cryptocurrency that was created to revolutionize the blockchain industry. It was designed to be an open source, decentralized, and secure platform for digital payments and transactions. Skycoin has been developed by a team of experienced developers who have been working on the project since 2013. The goal of Skycoin is to create a new type of blockchain technology that will enable users to make fast, secure, and private transactions with low fees.

Skycoin uses its own consensus algorithm called Obelisk which is based on Proof-of-Stake (PoS). This algorithm allows for faster transaction speeds and more scalability than traditional PoW algorithms. Additionally, Skycoin offers users complete privacy through its CoinJoin feature which combines multiple transactions into one larger transaction making it difficult for anyone to trace individual payments.

Skycoin also has an innovative incentive system called Skywire which rewards users for running nodes on the network. This helps ensure that the network remains secure and reliable while providing users with additional income from running their own nodes. Furthermore, Skywire provides users with access to high speed internet services at no cost.

Overall, Skycoin is a revolutionary cryptocurrency that provides users with fast, secure, and private transactions as well as incentives for running nodes on the network. With its innovative features and strong development team behind it, Skycoin has the potential to become one of the leading cryptocurrencies in the future.