SkyLedger is supposed to be a blockchain platform that claims to be much more energy efficient than the Ethereum and Bitcoin blockchains. Electricity consumption of bitcoin blockchain has been equated to that of Northern Ireland. Ethereum blockchain electricity consumption is about that of Cyprus. As both networks continue to grow, one can only imagine (or not imagine) how much energy will be consumed. Certainly, this is not environment friendly.
SkyLedger claims that it won't consume so much electricity and will be much more environment-friendly.
One of the flaws which has been noted with the Ethereum system has to do with the Ethereum ERC 20 Protocol. Without going into almost any technical terminology, ERC-20 lays out a bunch of rules that new tokens (digital assets) must adhere to in order to function "problem-free" in the Ethereum domain. Most new ICO's have made the effort to comply with ERC-20. One of the problems with ERC-20 is that tokens sent directly to smart contracts are "lost". In fact, around $70,000 have been lost due to this.
Some other flaws with the Bitcoin and Ethereum blockchain are what's referred to as the 51% attacks. These attacks are on the blockchain (hypothetical) by miners who control over 50% of the network's mining hash rate (computing power). This could be very problematic as hackers could disrupt transactions and do much more damage. For details, read this.
Much more could be at stake here than simply the value of Bitcoin. Businesses are flocking to adopt the Ethereum blockchain. Just imagine, a fault in its system, could potentially cause a huge crisis. Given that a 51% might be theoretically possible at best (not real life), companies have chosen to risk it.
There are plenty of complaints about scalability issues with bitcoin and how its transactions are so very slow. Just compare around 7 (at best) transactions per second on the bitcoin network versus 17,000 transactions per second with Visa.
SkyLedger might just do away with all these problems, so it claims. Also, SkyLedger claims to use the Obelisk algorithm which makes sure that control and "power" is uniformly distributed instead of it being concentrated in a select few areas.
Furthemore, SkyLedger claims it has and will deal more effectively with scalability & speed issues.
Source:
https://themerkle.com/at-last-a-blockchain-platform-that-beats-btc-and-eth/
Yeah mon.