NB: Skelpy Aims To Create A Completely Decentralized And Transparent System, Identifying Every Single Portfolio Present Inside The Blockchain!!!
With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Skelpy, a project creating a completely decentralized and transparent blockchain in which all portfolios have a certified digital identity has arrived.
"The blockchain title gives a decent visual implication to how the technology functions. Blockchains are advanced ledgers that utilize cryptography (for this situation an approach to ensure digital data through encryption) to cache blocks of information that are sequentially bonded together through virtual systems disseminated all around the world. Duplicates are stored online, making it hard to misrepresent data.
While all (or several) governments have declared types of physical, digital, and online identity, these don't perceive national limits. Once more, handling these identities much of the time will require trusted, prime experts and the information is put away centrally, which raises the cost of data storage as well as opens that information to every other person with access to central server centers. There is less or limited control of the data with respect to the end user.
Blockchain assists in making and administration of a digital ID that is saved on a decentralized computer system. Not exclusively would it be able to be utilized for validation purposes universally, it can be utilized at the worldwide platforms, and in particular to secure personal data."
With that being said, Skelpy enforces new rules regarding computer privacy and security. This platform enforces the system needed to encrypt files and information related to users and not disseminate any information for the purpose of looking for additional benefits and advertising goals connected to platform users.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is SKELPY?
As depicted above and as indicated on the official website of SKELPY, the Skelpy project is creating a completely decentralized and transparent blockchain in which all portfolios have a certified digital identity.
Skelpy, as one of the platforms that prioritizes security guarantees in the transaction process, facilitating its customers by providing certified digital wallets. However, users can still make transactions to and from other users’ wallets, both certified and non-certified. Relying on a decentralized system allows users to transact transparently and quickly.
The advantage offered from this certification wallet is the increased level of security, where it is intended to avoid misuse of functions and other irresponsible actions.
The Skelpy platform helps create a payment system through digital currencies in a transparent and fully decentralized manner. Based on blockchain technology, Skelpy provides certified digital wallets for each user. The Skelpy project has emerged with the intention of certifying the wallets. Documenting and certifying the wallet provides great services in terms of security. The transactions of a wallet recognized by the system shall be in accordance with the law within security.
First, the wallet needs to be documented. For this, the KYC, AML, CTF processes must be verified. As is known, KYC is a process of authentication; it is for investors not to be used for illegal transactions and for ensuring their security. AML refers to a series of anti-money laundering procedures and legal arrangements. It is to prevent efforts to gain profits through illegal activities. The AML process involves specific transactions and criminal behavior.The CTF is to fight the financing of terrorism. It is known that there are various efforts to finance terrorism in our age. The Skelpy blockchain is based on DPOS technology (Delegate Proof Of Stake) in which there are 51 forgiving nodes that have the task of keeping the network working and functioning.
Check out this link provided about the impending challenges(PROBLEMS) and why Skelpy is very important to our today's cryptosphere(SOLUTION OFFERED). - https://www.skelpy.co/pdf/pgp.pdf"
About Skelpy Certificate Your Wallet
SkelpySystem is a decentralized platform that permits to certify and recognize the wallets inside the Skelpy circle
Through this system, it will be possible to recognize the subjects involved in the transactions on the basis of the level of authority allowed by the wallets owners.
The wallets can be recognized at the discretion of the rightful owner that decides the visibility of his own wallet.
To recognize a wallet is necessary for sending a recognition request to the subject in question, except the “Public” level of visibility that does not need a recognition request.
A wallet with a “Public” visibility level can be seen from all of the users registered at the SkelpySystem platform, without any need for recognition.
A wallet with a “Private” level of visibility can be seen only from the authorized users after the acceptance of the recognition request sent from the applicant to the rightful owner.
A wallet with a “Solo” level of visibility is different from private visibility as it can’t receive recognition requests, but only send them to a wallet with private visibility.
Each subject being part of the SkelpySystem platform must respect the laws that regulate it and certify his/her identity through the regulations of his/her home country and the KYC tool.
Skelpy and Blockchain Teechnology
The Skelpy Blockchain applies DPoS or Delegate Proof of Stake technology, where there are 51 nodes whose task is to keep the internet connection active and functioning during the transaction process. DPoS technology itself is the final method for guaranteeing digital net tokens by executing transaction processes and ensuring distributed management or validated / recognized transactions without the need for central authority roles. This system is an evolution of PoS or Proof of Stake that allows the involvement of all network nodes. This system was developed with the aim of reducing costs and increasing efficiency in terms of electricity consumption in the PoW or Proof of Work system, which is used by the Bitcoin digital currency. DPoS shows a strong, efficient and very reliable consensus algorithm in the blockchain network.
For the fact that blockchain technology is decentralized, each ongoing process relies on the main or central system in its control. This system is digital and is fully run using the internet network.
The DPoS technology used by this platform was adopted from the ARK project but was not a sidechain of the project. The Skelpy Blockchain is based on a solid and tested system that will continue to be improved in order to be more functional in the future.
The skelpy platform facilitates customers with a certified digital wallet. The Skelpy system will recognize these wallets making it possible to recognize users involved in the transaction process based on the level of authority determined by the wallet owner. Wallets are recognized as legitimate owner policies. The wallet owner can decide the visibility of his wallet.
To recognize the wallet, the user needs to send an acknowledgment request to the other intended user, unless the other user applies a “public” level of visibility which does not require an acknowledgment request. The level of visibility is divided into 3 levels, namely Public, Private, and Solo.
The Skelpy Wallet
Skelpy Desktop Wallet
Skelpy Web Wallet
Skelpy Client 1.0
SKELPY'S TOKEN ECONOMICS
The maximum coins offer will be of 70.000.000. with a quantity of currency issued on the market equal to 2.000.000. There will be pre-forged 33.000.000 coins of which 20.000.000 will be used as voting wallets for 20 associated partners, therefore the 20.000.000 SKP will be freezed and will be not put in circulation in any way: their only aim will be to vote 20 delegated partners of the Skelpy network. Besides we will use a backup fund of 10.000.000 in case of network alteration or modification, that will be freezed and available through multi-signature wallets.
2.000.000 will be used for exchanging on various exchange and 1.000.000 will be divided among the team members on the basis of the competence and the developed works.
The 20 delegates (also called partners)’ task is to guarantee reliability, speed and security of the network.
Therefore, the partners will be voted by 1.000.000 SKP wallets, after having stipulate a cooperation contract with the project.
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.