What Is Skycoin (SKY)?

Skycoin is a blockchain project that aims to establish a decentralized, peer-to-peer Internet service in which users trade money for network services. The Skywire mesh network was established in 2019 and Skycoin was launched in 2013. Skycoins, unlike Bitcoin, cannot be mined using the proof-of-work method. The Skycoin network was launched with 100 million SKY tokens, however, the bulk of them are locked and unavailable to developers. According to CoinMarketCap, Skycoin was the 506th biggest cryptocurrency by market capitalization on April 26, 2021.