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Skycoin has officially announced the release of its Android mobile wallet and says it is ready for public use. This wallet is an exciting accomplishment for the company as it supports the vision of the original idea behind peer to peer exchange via blockchain technology.
Skycoin is a blockchain 3.0 project and one of the most advanced and scalable blockchain platforms in the world. The team consists of early cryptocurrency adopters and experts who use their combined experiences to synthesize one of the most advanced wallets ever made.
Skycoin wallet will function like a normal digital currency wallet. The only difference is a performance tweak to improve the user experience while maintaining optimum security and flexibility.
Changing times with handling digital assets
Every day, a large number of people are becoming more aware of the importance of peer to peer transactions. And while the concept of peer to peer isn’t novel, digital wallets are becoming a powerful tool for exchanging digital assets using the blockchain technology.
This growing exposure prompts the need for secure peer to peer transactions. Skycoin offers advanced features in its wallet design to cater for this need.
Features of Skycoin Android Wallet:
The basic features of the Skycoin wallet are similar to other wallets, which include the creation of a new wallet or loading an existing wallet onto it. It also shows transaction records. Another feature is QR-technology and a new address generator.
The Skycoin wallet also provides users with more flexibility, and the option to select specific UTXO or unspent output for sending their Skycoin. For those with the desire for more security features in a wallet, the wallet provides hardware-tethered encryption capabilities to fulfill this desire. What this does, is to encrypt a wallet seed to the hardware where it’s being generated.
The Technology behind Skycoin
Three very important technologies underpin the emerging robustness of the platform. Considered to be an ecosystem of technologies, each one plays a significant role in making Skycoin a functional platform:
Skywire: a fast, throttle-proof and secure internet service based on the blockchain and completely negates all limitations experienced in centralized protocols. It is a well-incentivized system and will develop to be one of the most advanced wireless mesh networks. Its mesh has a very large network of nodes and is designed for stability and security without compromising on speed.
Obelisk: an ingenious consensus idea that was created from the shortcomings of proof of work and proof of stake algorithms. It eliminates the constraints of centralized infrastructure through a distributed consensus algorithm by distributing influence over its network in a “web of trust”. Each node has a web of influence it subscribes to and those subscribed to it. It also has the capacity to act as a public broadcasting channel and all of its operations are logged and accessible publicly.
Fiber: a provable attempt to scale beyond the limitations experienced by both bitcoin and ethereum, Skycoin fiber network was built in style from the beginning. Its robust architecture can withstand heavy traffic and still maintain low transaction fees.
The wallet is available for download here: https://www.skycoin.net/downloads/ (only Android v6.0 “Marshmallow” and above).