What is SkyLedger
Welcome to SkyLedger
SkyLedger implements a new distributed consensus algorithm called Obelisk, which distributes influence over the network according to a “web of trust”. SkyLedger corrects the major security flaws and “centralizing tendencies” associated with blockchain networks in which consensus is based on Proof of Work (i.e. Bitcoin) or Proof of Stake algorithms (i.e. Ethereum).
SkyLedger platform is built to compete with credit cards and services like AliPay/Apple Pay and allows for an unlimited number of transactions per second. Transactions happen in seconds, not in minutes or hours like in Ethereum and Bitcoin. SkyLedger has no blocksize limit and it can be adapted to any transaction rate.
Since SkyLedger is not based on mining, it is more secure and reliable than Bitcoin and Ethereum. SkyLedger platform cannot be 51% attacked and does not rely on the decision of a single stake holder.
SkyLedger transactions do not require a fee and no coins are spent to confirm a transaction. SkyLedger uses instead a coin-hour mechanism. Users receive coin-hours for holding their tokens and coin-hours can be spent to confirm transactions.
Each coin on SkyLedger has its own blockchain. Unlike Ethereum, SkyLedger does not force all the data on earth into a single database. SkyLedger provides independent data storage to each token to ensure that their value develops independently from each other.
SkyLedger platform is energy sustainable and saves electricity cost. Unlike Bitcoin and Ethereum, SkyLedger does not require billions of dollars a year in mining cost.