Skycoin: The Decentralized Telecom Provider - CryptoCentral

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Skycoin: The Decentralized Telecom Provider

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Skycoin: The Decentralized Telecom Provider

CryptoCentral July 2, 2018
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With the existing infrastructure of internet services, the multi-billion dollar monopolies have absolute control of your online experience and access. It has become difficult to imagine a life where internet access is open, transparent, secure, and accessible to all. Skycoin solves these problems, providing a decentralized telecom solution that will revolutionize how we communicate globally. The common question amongst anyone who learns about the project is “How?”.

The initial centralization of Internet Service Providers (ISPs) worked in the consumer’s favor and facilitated necessary technological improvements in the transition from analog to digital through the evolution to broadband service. Currently, other than access to service, consumers have few benefits from the overreaching consolidation and control that large ISPs maintain over the internet. Centralization has led to the degeneration of community-driven services, demanding higher costs and more regulation while simultaneously offering minimal customer service.

“Without strong competition, [broadband] providers can (and do) raise prices, delay investments, and provide sub-par quality of service. When faced with limited or nonexistent alternatives, consumers lack negotiating power and are forced to rely on whatever options are available.” — Barack Obama January  2015

The Traditional Method of Creating an ISP:

Becoming an ISP has always proven difficult. Due to the network-level intelligence involved, building your own Autonomous System has posed several formidable challenges. One needs to obtain a public address space which is often difficult and expensive. Additionally, one must find multiple well-connected Autonomous Systems to peer with to ensure the quality of service to customers. From there, a fledgling ISP must apply for an Autonomous System Number which has its own associated cost and is limited to the five internet numbering organizations worldwide. Finally,  one must source a router capable of handling the entirety of internet routing. The task itself is daunting, and facing the historical actions of big ISPs literally and figuratively cutting the cord on any small ISPs, achieving even a moderate level of success has proven to be anything but a successful venture in the past. The potential drawbacks of constructing one’s ISP has outweighed the benefits and resulted in stagnation of competition.

The Solution Is Decentralized:

Skycoin utilizes blockchain to implement a decentralized networking protocol. Skyminers are the hardware platform behind Skycoin which deploy nodes for the network, hosting multiple services on each node. Skycoin will utilize Skyminers and its proprietary antennae which are currently in development to implement a community-driven mesh network. Mesh networks were previously plagued with their own set of problems. Since mesh networks require massive adoption to be useful, it becomes difficult to launch the infrastructure without providing incentives. The existence of Blockchain technology and Skycoin’s implementation will ensure that incentive.

The Skycoin economic model will provide users who deploy Skycoin nodes compensation for providing bandwidth to the network, eliminating the former problems associated with this type of infrastructure. Security issues with current network providers will also be resolved with Skycoin’s end-to-end encryption, replacing IP addressing with public keys. A community of nodes will also have the added benefit of reaching a consensus of control over services, allowing nodes the ability to blacklist the public keys of users who act maliciously on the network.

“When people’s lives depend on fixing a problem, then you get these innovations [Skycoin], so this corruption [Broadband Providers] is bad, but it’s part of a cycle”  — Synth October 2017

The cycle of innovation continues with Skycoin’s ecosystem of hardware and software projects. The giant telecom providers created a solution for the average consumer wanting web services. Their centralization deteriorated into essentially an oligarchy which created a new problem. Skycoin is creating a brand new parallel internet that will reward users for implementation, provide privacy and security to its participants, removing the barriers and moving the cycle of innovation forward.


Disclaimer: This is not an investment advice. It is of paramount importance that everyone should do his or her own due diligence before investing in any product, platform, tokens etc. Cryptocentral.io does not endorse any content or product published on this page. Our aim is to simply provide all the readers with the latest information in the field of cryptocurrency / blockchain industry that might be of interest to our readers.

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