What problem does this service solve?

Skycoin aims to decentralize the internet and provide a platform to build DApps.MetaHash's goal is to create a faster blockchain platform that will enable better DApp performance.

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Company Description

Skycoin began as an ambitious infrastructure project aimed at replacing the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms that dominate current blockchain platforms. It has since evolved into a project focused on creating a decentralized mesh-Internet and a platform for other blockchain-based projects. Skycoin is developing an ecosystem with a variety of goals, including: the elimination of mining rewards, development of energy-efficient custom hardware, advancing security and privacy, and achieving transaction speeds that rival current digital payment systems. The ecosystem consists of the native SKY coin, Skywire (decentralized mesh-Internet), Skyminer (hardware and access point for Skywire), Skyledger (decentralized open blockchain network), and a suite of DApps. The consensus algorithm is called Obelisk. The network's nodes agree based on a Web-of-Trust consensus. The ability to influence transaction verification is distributed over the network creating a web of trust. To eliminate mining completely each node on the network connects to a list of nodes that it sees as trustworthy.

MetaHash is developing a blockchain platform for creating DApps. Their network has a multi Proof-of-Stake (PoS) consensus mechanism that is designed to increase transaction speeds and block formation times by using all of the nodes on the network.

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