The Much anticipated First ICO on the Tezos Blockchain – SkyNet
Original Article credited to SYE: https://news.sye.host/skynet-first-major-dapp-on-tezos/
Typically the highly anticipated mainnet release of the Tezos blockchain was announced on Sept. 2010 17th, 2018. With this in mind, it is no surprise that https://www.skynetworld.org/ has declared its fully functional betanet platform, which operates on top of precisely what is perhaps the most robust financial smart contract technology in the world today.
SkyNet’s CTO, Stephen Andrews clarifies why the Tezos blockchain was selected:
“SkyNet is a peer-to-peer lending platform, utilizing the Tezos ledger. We chose to build SkyNet on the Tezos platform due to a number of reasons: on-chain governance, formally verifiable smart contracts, and a delegated proof of stake (POS) consensus mechanism. These elements make Tezos an environmentally friendly, fork-resistant, and secure platform with which to develop decentralized solutions. SkyNet will be one of the first major DAPPs to be developed on top of Tezos, and will incorporate formally verified smart contracts, modern web and mobile app interfaces, and infrastructure run on the Google Cloud Engine.”
Based on SkyNet’s TOP DOG, PSM:
“We are already making active forays with real-world prospects. We have demonstrated the platform to real estate developers and bundled investment consultants. To say they are definitely interested would be an understatement.”
Practical, beneficial uses for all users; not merely risky in personality
One of SkyNet’s initial challenges is to persuade regular people with debris kept in traditional financial organizations that SkyNet is actually a secure very safe way to put their bucks to work at a higher rate appealing. SkyNet will allow them to save at a more more quick rate than previously possible.
It really is far from amazing that a some of the most talented developers at SkyNet have bled over from tertiary developments on the Tezos blockchain. They have got seen the real advantage SkyNet’s adaptation can have for its users, both store and institutional consumers.
In addition from PSM::
“We do not envision SkyNet as an all or none scenario. We see it rather as a co-operative, harmonious interplay amongst the current actors. Someone who needs a home can ask for assistance in its acquisition from a blend of both his fellow man and institutions. There really is no such thing as a bank, there are bankers, people with means, as evidenced by these bankers becoming more and more involved in the crypto space. These people are wealthy for some very good reasons. They have the ability to look around corners and basically see into the future. We see the same people as some of SkyNet’s early adopters, possibly cherry-picking funding opportunities from around the world that make the most sense to them.”
Inside the future, blockchain technology will continue to become more than the quantity of its parts. The particular cost of any growing technology is measured in this way. In a relatively brief time, two thousand DAPPs reside on top of Ethereum, although many in whose integrity remains suspect. Nonetheless, Ethereum token price has increased in value from seventy cents to a recent high of over 1400 USD. As of this writing, Ethereum deals at 210 USD, still 300 times its ICO value.
Having said this, you might be hard pushed to describe the explanation behind this embrace value. Vitalik Buterin reports as much in not so many words. Basically, if a token doesn’t add anything to anyone’s life, it is likely condemned to failure.
Cryptocurrencies’ real potential has only started to be explored. Typical sense dictates if it cannot be used, it is not useful. Just remains hype.
DAPPs that are built on top of the various blockchain fundamentals must demonstrate and inherently provide real-world users with the means to measuredly improve their lives.
SkyNet’s rate of user adoption will largely depend on two things: (1) Its scalability and, (2) more importantly, in the long run, SkyNet’s innovative technology paired with a user-friendly interface in a real-world setting.
The scalability issues are already being solved with the advent of POS, off-chain solutions, sharding, atomic swaps, and like programs. It is not a matter of IF, but one of how soon viable solutions regarding scalability will be implemented.
Steve Jobs knew the absolute importance of building a system that could be used by consumers who were not tech savvy. His first Apple computers had to be user programmed, in a world in which at the time there were not a lot of programmers. He realized if Apple was to succeed, the machines he built would have to be able to be used by the common man. Art would have to merge with science. He was, of course, correct. It was one of the reasons he studied calligraphy.
If cryptocurrency cannot be easily used by everyone, then what’s the point? To capsulate, the technology must move quickly toward something that not only can be utilized in a user-friendly manner but also must be able to DO something inherently valuable for all its users. Otherwise, it will not be adopted. It would seem SkyNet is just such a DAPP.