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Skycoin's Frequently Asked Questions (FAQ)
#1
Information 
1. What is Skycoin? 
Skycoin is a cryptocurrency that allows for zeros transaction fees, two second confirmation times (in comparison to Bitcoin's 10 minutes or sometimes even hours) and infinite scalability. There are also many sub-projects of Skycoin that are built using the Skycoin infrastructure such as Skywire, Skyledger, Viscript, Sky-messenger etc.

2. Wow that's great! But surely Skycoin must be centralised in order to achieve that right? 
Nope. Skycoin is actually distributed (which is one level better than decentralisation).

3. What is Skywire?
Skywire is a decentralised internet built on top of a meshnet infrastructure. It is a sub-project of Skycoin.

4. What are Skywire Miners?
Skywire miners are nodes that forward traffic in the Skywire network to keep the decentralised internet (Skywire). They are called 'miners' because people using Skywire must pay coin hours in order to get the bandwidth from the Skywire Miners; The coin hours are then paid to the people running the Skywire Miner nodes. You also earn Skycoins by operating as your own ISP, as part of our distribution plan. You can buy a Skywire Miner by subscribing to the mailing list on skycoin.net (there are only 300 miners available in the first batch so you may have to wait until the second batch releases before getting one). Alternatively, you can join https://t.me/skywire and learn how to build your own DIY Skywire Miner.

5. What are coin hours? 
Coin hours are a parrallel currency to Skycoin that are produced every hour in the ratio 1:1 between Skycoin and coin hours. They are used to prevent spam attacks on the Skycoin network and as payment for bandwidth on Skywire. Eventually, there will be a seperate market for coin hours where they can be sold, bought or traded for Skycoin.

6. How many developers are working on Skycoin? 
Over 80+ devs have made commits to the Skycoin code over the course of 6 years. Check the github for the latest updates on the code: https://github.com/skycoin/skycoin

7. What exchanges is Skycoin currently on? 
Cryptopia and C2CX.

8. What is the OTC?
The OTC (over the counter) is a place where you can buy Skycoin directly from the original wallet without having to use a third party such as an exchange. The OTC is limited to 10 Bitcoin worth of SKY a day. The OTC price is always set slightly higher than the market price. It is adjusted manually every day. 
OTC: https://otc.skycoin.net/

9. How are Skycoin distributed?
Read this: https://blog.skycoin.net/statement/skyco...tion-plan/

10. Where can I found out more about the Skycoin consensus algorithm?
Here: https://www.skycoin.net/whitepapers/

Let me know if anything needs adding Smile
[-] The following 2 users say Thank You to Anonymous Kid for this post:
  • skyguy, THC420
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#2
Great contribution. Thanks very much
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#3
Thanks! Skycoin OTC is currently closed. Can I know when it's back again?
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#4
(01-09-2018, 12:53 AM)jdrina Wrote: Thanks! Skycoin OTC is currently closed. Can I know when it's back again?

Any update on this ??
I am a content creator  Fire Fire  
Send me SKY --> PoYvKmychuqg5BPRJMz2kNMwo8NVEUX39h
d a t w a y
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