Skycoin SKY to MCO MCO Exchange

Crypto Pair Details: SKY to MCO

Skycoin SKY

The Skycoin Platform is the most advanced blockchain platform in the world. Developed by early contributors to both Bitcoin and Ethereum, Skycoin’s platform is completely secure, infinitely scalable, and ISP independent. It uses its own specific distributed consensus algorithm, called Obelisk, instead of other commonly used algorithms like proof of work (POW) and proof of stake (POS). Obelisk uses the concept of ‘web of trust dynamics’ which distributes influence over the network and makes consensus decisions depending upon the influence score of each node. Each node subscribes to a select number of other network nodes, and the density of a node’s network of subscribers determines its influence on the network. Skycoin is very fast. With transaction speeds close to 2 seconds and no transaction fees it can rival any other cryptocurrency on the market as a payment method. The transaction costs of Skycoin are covered by Coin Hours. This is value paid to Skycoin holders for each hour they hold a Skycoin. Skycoin is against charging transaction costs and mining incentives as it only drives up the costs of the network. The biggest benefit of Skycoin is that it is energy efficient due to the Web-of-Trust social proof. It can even run on a 30-watt cell phone processor making it great for mobile payments. Centralization becomes less of an issue when anyone can participate in the blockchain. Sia stores tiny pieces of your files on dozens of nodes across the globe. This eliminates any single point of failure and ensures highest possible uptime, on par with other cloud storage providers. A major goal of Skycoin is to promote actual usage of cryptocurrency rather than speculation. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycoin also has its own ICO platform called Fiber, their own deterministic programming language, CX, derived from Golang, a private decentralized messenger system called Sky-Messenger, and a decentralized social media platform, BBS. Here is another way to think of Skycoin: An open-source, community-owned, hardware-based peer to peer internet designed from first principles and leveraging the incentive system of the blockchain.

MCO MCO

Crypto.com, the pioneering payments and cryptocurrency platform, seeks to accelerate the world’s transition to cryptocurrency. The MCO Token Sale was conducted in May-June 2017 and raised US$26.7 million. MCO Card is a Visa-branded debit card that draws from a cryptocurrency-funded bank account. Since it’s a Visa card, you can use your MCO Visa card just like you would any other card. The card and bank account are free for holders of cryptocurrency. In order to open an account, you simply sign up, verify your identity, and transfer any of the various accepted cryptocurrencies to your account. At this time, the Visa card is available to customers in Asia. They also have a waitlist for European customers. Customers in the United States does not have access to it at the moment. However, there are plans to change that. Solving the problem of everyday payments has the potential to be huge for cryptocurrency. However, MCO Visa card is not the only project attempting to create crypto-backed debit (or prepaid) cards. Other projects, such as TenX, are working on the same issue. All of these projects run into challenges implementing such cards in a large scale, compliant manner. Crypto.com hopes to crack the code, ultimately getting cryptocurrencies and popular payment methods to play nicely together. Crypto.com was founded in June 2016 in Switzerland and rebranded from Monaco on 6th July 2018. Their first prototype was developed in October of that year. In February of 2017, they were accepted into a Hong Kong Government backed Cyberport incubation program, where they developed their platform until they were ready to launch their token sale in 2017. The sale closed in June with $26.7 million in funding. Their app became available to pre-registered users in August 2017, followed by the official partnership with Visa in October. The team consists of seasoned veterans in the fin-tech space, most of whom have experience in Asia, where Monaco Cards have first been made available. Since MCO Visa cards are backed by cryptocurrency, they don’t have border issues like fiat currencies. As a result, you can use your card anywhere you go. The card will automatically default to the local fiat currency when you make a purchase. The low fees and exchange rates also apply in other countries. Transactions take place at the exact exchange rate that Crypto.com receives as an institutional trader. In contrast, when you use your debit card across borders with most banks, they’ll add an additional percentage to the exchange rate or include a transaction fee. Crypto.com has connections with eight of the top ten international foreign exchange banks to facilitate currency conversion. The MCO Visa card is a compelling option for anyone looking to make everyday purchases with cryptocurrency. It also makes sense for cross-border travelers. However, we can expect the rollout to take a long time and hit a lot of bumps along the way. The financial industry is highly regulated and cryptocurrency-backed payments is a complex issue, even if Crypto.com's solution seems to make it simple and user-friendly.

SOURCE: COINGECKO

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