After seven years of innovations and continuous development the Skycoin ecosystem chain was officially launched to the public on April 10th 2018 at the Hilton Shanghai Hongqiao in China.
The conference attracted more than 40 mainstream media such as Sohu, Tencent and CDC to conduct all-round coverage, and the conference publicity reached the top ten in the global blockchain trending topics
Over 200 members from the Skycoin community gathered at the conference to witness this important event.
The theme of the conference was “Value Linking and Trust Revolution”.
The conference was a milestone event in Skycoin's development history. The Skycoin team worked very hard to prepare for this in order to present to community members and the public with the most valuable information.
During the conference, there were more than a dozen speakers on the stage, and they gave speeches and discussed various project in the skycoin ecosystem.
During the coffee break, many conference participants took advantage of the rest time to actively ask questions from the speakers under a lively atmosphere.
The conference set up project descriptions, English roundtable discussions, Chinese roundtable discussions and live Q&A sessions.
At the press conference, Sam Sing Fong, head of Asian operations at Skycoin, introduced the skycoin ecosystem and its component systemically. He said that since 2012, Skycoin has been working on the research and development of blockchain protocols and application development frameworks, and has formed a protocol, hardware, Network, architecture, and then to the entire chain of application projects in specific areas. There are 15 technical teams with different projects in the world.
The skycoin ecosystem could be compared to an octopus .
The top energy tentacle includes: forums, chat tools and games such as SkyBBS, Skymessenger, KittyCash and so on.
Mid-range energy tentacles include: network architecture and network transmission such as Skywire, CXO, Fiber, and more.
The bottom of the energy tentacles include: hardware and protocols such Obelisk (consensus algorithm), Skyminer, Wallets and so on.
The so-called application landing means that more users will use various applications developed in the blockchain platform, such as games developed based on the blockchain’s platform.
The application is the top of the blockchain, and it is also the most easily seen and used by users.
Skycoin is such a complete ecosystem with bottom-up hardware and software development, mid-range information network architecture, and top-level applications.
Sam Sing Fong also mentioned in his speech: “The competition for blockchain technology has been extended to cities and countries. The United States, Europe, Russia, Japan, and South Korea all began to design blockchain development from the national level.
According to Sam Sing Fong, Skycoin's founding members were core members of Bitcoin and Ethereum's early team. Their original intention of launching the Skycoin project was to solve some problems that Bitcoin and Ethereum had, such as PoW (Workload Proof Consensus Algorithm). The centralization, 51% attack and other drawbacks.
"After several years of continuous development and improvement, the Obelisk algorithm (trusted network consensus algorithm, literally translated as the 'Obelisk') has been proven to be the core and pillar of Skycoin's ecology. It has a revolutionary breakthrough in both concept and technology. ”
Sam also disclosed the developmental progress of the Skycoin hardware wallet. At present, the hardware wallet team has completed the design of the PCB circuit board in the hardware design and realized the production of small batch samples. At the same time, the hardware team has delivered samples to the software team for the development and completion of the software on the wallet.
When the purse was originally designed, the designer regarded its ease of use and security as the primary purpose of the purse design, so that the purse would have a dual authentication mechanism, support for multiple currencies, and multiple password management functions for the electronic money in the future.
Synth, founder of Skycoin and one of Bitcoin's earliest developers, pointed out at the meeting that the three characteristics of decentralization, security, and high-efficiency of blockchain technology are currently absent from blockchain technologies such as Bitcoin and Ethereum. Being fully embodied, it will inevitably lead to new breakthroughs as the research deepens.
Synth introduced the Obelisk algorithm in detail. He stated that compared to PoW and PoS (equity-consensus consensus algorithm), Obelisk better solved the problems of decentralization, security and efficiency.
According to him, the Obelisk algorithm abandoned mining and instead used “money time” to motivate users’ sharing behavior, greatly saving computing resources; simplified the Byzantine general problem, created a public radio channel, and avoided consensus confirmation. The delay is too long; using intelligent nodes, it automatically identifies and cuts off connections to malicious nodes and prevents large-scale coordinated attacks by malicious nodes.
According to data and media reports, the existing mainstream consensus algorithms PoW and PoS both appear to be centralized. For example, the three major mining pools occupy the dominant position in the Bitcoin mining market, and blockchain networks that use equity certification may be The dominant players are "hijacked" and so on. The Obelisk consensus introduces a "dynamic viewpoint" and establishes a network based on a consensus based belief level. Community consensus determines the balance of power.
Synth revealed that in terms of security, the Obelisk algorithm eradicates the “51% attack,” which is the most fatal flaw of the PoW algorithm; in terms of efficiency, Bitcoin can complete 6 transactions per second on average, and Ethereum has about 30 per second. Skycoin Networks can achieve 3000 per seconds and in addition can achieve credit card-level payment rates.
Therefore, the use of components in the Skycoin ecosystem to develop a blockchain has multiple dividends, such as high network throughput, low power consumption, and fast transaction speeds, which can withstand large-scale collaborative attacks.
At the conference, Ecological projects based on Obelisk were launched. These included the Skyminer hardware for operating nodes, Fiber development platform for blockchains, Skywire for communication networks, CX for development languages, CXO for storage, and KittyCash for new blockchain games. .
These breakthroughs and innovations provide new possibilities for the overall development of the blockchain.
"Skycoin's commitment to finding good applications has increased the use of blockchain users," Synth said.
Although Bitcoin, Ethereum, and Litecoin are sought after by the world, there is no single application above them that can increase the number of users in the blockchain domain by 20x, 50x, or even 100x.
As a low-level project that changed the world from scratch, Skycoin's founders built a simple, clear, and beautiful new language system and architecture for the entire system.
The Skycoin ecosystem includes its own programming language and immutable object system, providing the foundation for the application logic and data distribution of the Skywire network. This is the CX language and CXO object system.
Founder Synth gave a detailed introduction to the technical features and language interaction structure of the CX programming language at the press conference. He said: "This language is GO-based and has been tested on various operating systems. Experimental data shows that its performance can be comparable to Python."
CX was created to build distributed applications, video games, and program FPGA chips. The resulting derivative language package, CX-Game, is a language package developed by Skycoin for game programmers. It is currently developing mini-games and more complex game prototypes.
The CXO technical leader Hanyou Hong then gave a detailed introduction to the key technology CXO of the Skycoin project.
CX was created to build distributed applications, video games, and program FPGA chips. The resulting derivative language package, CX-Game, is a language package developed by Skycoin for game programmers. It is currently developing mini-games and more complex game prototypes.
Based on this language, the team has also developed Skycoin's ecological IFPS, a distributed content sharing protocol called CXO. CXO combines the invariability of blockchains with the extensibility of content delivery networks (CDNs). This is especially true when the content is not necessarily stored on the blockchain but needs to be easily accessible and verifiable.
CXO's storage and distribution content functions can completely avoid the big problem in the traditional blockchain, that is, the congestion problem caused by the overcapacity. For example, all content of the social media platform is directly stored in the blockchain. It will be slow or even stagnant because more people use it, but by using CXO can be perfectly avoided." Hanyou Hong, CXO speaker, said. He used the occasion to introduce Samos to the world.
Samos is a blockchain-based network that enables businesses to adapt to the blockchain world.
The blockchain storage project SAMOS was one of the underlying technology-derived projects. It developed the underlying storage based on the CXO data structure in the Skycoin ecosystem.
Samos founder Han Youhong revealed that the Samos project would provide new technologies for home entertainment hardware products.
The highlight of the morning session was introduction of skycoin’s flagship project skywire skyminer
The Skyminer designer, a young genius named Tien, introduced Skyminer's original design intentions, returned the data to the data generator's concept, and ensured that each user had absolute control over his own data
Tien shared and introduced Skyminer and Skywire's design principles, features, advantages, and safety features on the stage.
“Skywire has the advantages of low latency, high performance, and privacy protection over the existing Internet and is the cornerstone of the Internet and the Internet of Things in the future.” In Skycoin's ecological core component introduction, speaker Tien said of the Skywire network.
According to him, through this network, users can share their own hard drives, memory, CPU, GPU, bandwidth, etc., and share rewards when they can get coins, which will promote the establishment of "value Internet."
"In the future, Skywire will also develop its own ecosystem, open it to third-party applications, and build an APP Store," Tien said. Thanks to the flexible architecture design, Skywire has now been able to easily access the various APPs and operating systems used by users and is managed uniformly by users.
In addition, Skywire, in conjunction with Skyminer, the hardware configuration in the sky, will be able to easily achieve Gigabit bandwidth, not only as a blockchain network node, but also as a personal Internet Service Provider (ISP) in the future.
The convergence effect is also reflected in the arrival of next-generation applications. Skycoin’s newly released Fiber platform is a blockchain solution that outperforms Ethereum, allowing start-ups to establish their own parallel and independent chain. In addition, the technical team can also collaborate with the technology in the Skycoin Ecology to create its own sub-ecology.
In the afternoon, the Skycoin project co-founder Steve first introduced the Fiber platform briefly
Skycoin’s Fiber architecture is a transformational, better-than-blockchain solution, which solves existing problems using, distributed ledger technology. Fiber is the foundation of blockchain 3.0 and can be best described as an infinitely scalable network of blockchains lay side by side, like strands. This is a technological feat that cryptocurrencies such as Bitcoin or Ethereum will never be able to achieve, as they were never engineered to scale infinitely.
Bitcoin’s single blockchain can handle 6 transactions per second (TPS) and Ethereum’s single blockchain can handle 30 TPS. With Fiber, each blockchain strand can currently handle 300 TPS with a target of 3000 TPS in future implementations. Fiber offers performance and reliability that are unmatched by the other blockchain solutions currently available.
Fiber is way above all platforms in blockchain and the good thing is it is free .
The first generation of blockchains is very monolithic, and people must build a blockchain from scratch. By the second generation of blockchain, we have Ethereum, where you can quickly issue your own ERC tokens and raise funds for any concepts and ideas through first-time token financing.
The difference in the third-generation blockchain is that the company will have its own blockchain instead of the blockchain based on Ethereum.
For example, NEO has just begun to write their first smart contract, but each contract needs to consume 500 GAS. Implication is that some smart contracts may cost as much 50,000 U.S. dollars depending on the cost of gas .
When you release a token on fiber, you will also have a mobile wallet, a PC wallet, and a hardware wallet. You will have a blockchain application hardware platform that is your own.
This is very attractive for companies that want to explore the blockchain field or issue gift cards. For example, Skycoin will have a POS system. If you have 60 chain coffee shops, you can install the POS system and start issuing gift cards on the blockchain.
People can store these irreplaceable digital assets on skycoin Fiber platform. They can also use these gift cards at the coffee shop's POS system.
Steve explained that blockchain is a database. Skycoin wants to make the blockchain as easy to manipulate as a SQL database and a MonogoDB database. Therefore, they have built this integrated and standardized platform to make it easy for businesses and individuals to operate the blockchain.
He then introduced developers of applications based on the Skycoin platform fibre , including details of their specific applications, including the new generation of KittyCash, the Apollochain smart energy project, and the MDL Talent Hub blockchain entertainment project.
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KittyCash is another project is another project that reflect the future development direction of Skycoin ecology. It is a block chain pet game similar to Ethereum's CryptoKitties, but it does not block or clog the network like the latter, but also has a real sense of collection, interaction and playability.
The key point is that it opens the door. "KittyCash is actually a blockchain game platform. With Skycoin's technology, there is a lot of room for future imagination," said Evan Lin, a key member of the KittyCash project's technical team.
After building a good network, development and storage platform, it is necessary to achieve the goal of rapid expansion of blockchain users by relying on online applications such as games and video projects.
According to Sam Sing Fong, currently more than 30 teams of streaming media and video projects have entered the Skycoin platform.
The second session of the afternoon conference was a round table and question and answer session. The first round was an English roundtable around the topic "Current status and future development of blockchain". Participants were founder Synth, Co-founder Steve and other key members and developers.
Under the guidance of the host, several guests elaborated the original intention of the founding project, including from the perspective of market and technology to publishing personal views on the current status and future development of the blockchain.
During the Q&A session, several guests answered the questions that the community members have been paying attention to, including Skycoin's major practical cases, Skycoin's future outlook, and more.
Synth used Ethereum as an example. Ethereum raised a lot of money, but all spent money. Synth said that the key to the project is not financing, but how to control the budget very well.
On issues related to the future development of Skycoin, Synth stated that most of the software development has already been completed. In the future, it will focus on the hardware and will speed up the implementation of hardware development and construction work.
The theme of the Chinese roundtable was “The power of blockchain global community collaboration”. Participants included Xu Jingkai, a blockchain consultant, and COO Wang Xiaolong, a CHAOEX digital currency-trading center.
Skycoin launched the chaoex.com-trading platform on the day of the conference. This is an online exchange that supports a variety of electronic currencies. The trading volume exceeds 1000btc within 24 hours.
Distinguished guests expressed their opinions on the needs of the social development, development trends, the role of the blockchain, how to achieve innovation in the future of the blockchain and the future development of the blockchain, aiming at those who have continued to enter the blockchain field.
The on-site guests stated that the consensus reached was that the blockchain has a wide range of applications, has irreplaceable advantages, and represents one of the future trends.
After the Chinese round table was over, the host announced the successful conclusion of the Skycoin ecosystem conference.
All eyes are now on the next landmark that is launching of the skywire skyminer testnet. Final tests are being done internally before launching to the public while DIY Skyminers builders are racing against time to make sure they get on the whitelist of those who will be included in the testnet .
Find out more at https://www.skycoin.net
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Twitter: https://www.twitter.com/skycoinproject
Reddit: https://reddit.com/r/Skycoin
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ELoYH9tHCQPi7ePsUc2v6ELkTa7vuPgC8b
I don't think I've ever seen a pic w/Synth w/out a cup of tea in his hand! lol. Nice write-up!!
Thanks Dexter
U earned it! ;)
Gotta love that 'Skycion octopus' in one of the images, hahaha.
That doesn't take away from the whole being excellent again, though!
Thanks Jack . Fixed