How Skywire and the Decentralized Internet Will Protect You Online

February 19, 2018 | Views: 2382

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When you build a new internet which is based on a wireless mesh-network you want to make sure it gives the best possible solution to end users rather than just being seen as a gimmick. Luckily this is precisely what has been done with the developers of Skywire.

With Skycoin the underlying network is a part of the third generation of cryptocurrencies, so nearly all of the flaws associated with Bitcoin and the internet have been addressed.

Further to this, there are many more advantages of using this type of mesh-net compared to the internet as we know it now?

Decentralization

With the Skywire nodes in place, the world has a decentralized internet which is able to bypass ISP’s and operate on its own. As the internet is divided and hosted by all of these nodes, there is now no central point for vulnerabilities to take hold.

User’s information is split into chunks and passed around the full peer-to-peer network before being assembled at the destination. Malicious software which is found on any of the nodes can be shut down by a collective agreement of the system.

A web of trust is built, and as no ISP’s are able to track your browsing habits, it is less likely the need for lots of security software is required to protect your devices as the network becomes secure to many threats.

A Secure Network?

All of the networks are private, so you have no one who is able to track your habits or collect personal user information.

With many points of connection it is even more difficult for you to be bombarded from phishing emails and if they happened to make their way onto the mesh-net, they could quickly be halted before they do too much damage.

What about Skycoin?

The currency side is also aimed at protecting privacy and security around the coins and the network. All the transactions are performed using the Obelisk algorithm and take seconds compared to the delays Bitcoin is now facing.

All the way through the developers have looked at security threats and how they are able to tackle them.

These not only come from hackers they can also come from large ISP’s who use net neutrality to their benefit.

SKY transactions are secure and are logged in the ledger at specific points in time. The network has multiple gateways along with cross gateway coin transfers.

Transactions of this type will be held private until the coins are withdrawn from the gateway at which they will be logged in the gateway.

It has also been seen in the media that exchanges have lost coins or they have been filtered away. SKY has an OT protocol implementation which can show a specific malicious node is stealing coins.

Each call to the gateway is signed by the user at which point the gateway will execute and proceed with the transaction.

The only way coins are able to disappear is if your signature has been forged that will allow the transaction to proceed.

On top of this, if you have coins which have vanished you can publish your transaction log, and the owner of the node from where the coins have disappeared has to show their log which will show if you have allowed the coins transfer or not.

A Better Solution for Everyone?

Both SKY and the Skywire-mesh-net have been developed with one thing in mind. That has been to follow the vision Satoshi had from the very beginning.

Developers involved with both BTC and Ethereum have been involved with SKY from the beginning.

They know what was wrong with first generation cryptocurrencies and also the internet problems which are only getting worse.

The only way to bring a coin and network that will make things better for everyone is to take the initial concept.

Then developers have to look if a system is infected with malware. The nodes where it connects can be shut off so spreading between devices can be minimized.

SKY and the P2P network of Skywire have taken on a considerable challenge. It has to be said the more prominent the network, the more efficient it becomes. Security is enhanced, and the benefits get better and better no matter where users live.

If there is a node in their vicinity, they have access to a new internet, one of the most secure and fastest (and with no transaction cost) cryptocurrencies developed.

Having a decentralized internet doesn’t mean you become disconnected or alienated. It merely means the users are in control of their rights, privacy, and information.

 

No one is able to look over your shoulder, and if they do, they will find themselves disconnected from the web of trust. Later in the year we will see the fruits of their labors being put into action, until them SKY has to be a great cryptocurrency investment now.

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4 Comments
  1. This is where cybersecurity helps

  2. Intresting Idea but what are you investing in, and who is administring the skycoin wallet. Comission no doubt goes to someone.

  3. Interesting concept

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