Skynet ICO – a Blockchain For IOT Transactions
In the 1980s and 1990s, the idea of adding intelligence and sensors seemed wild to the general public. The few techies who ran with it had projects like vending machines connected to the internet but progress was slow. Fast forward to today when anything from a light bulb to a thermostat or a streetlight, can be switched on and off using smartphone apps. Pretty much any object can be changed into an IoT device as long as it can connect to the internet.
What is the Internet of Things? The term is used to refer to the billions of devices all over the world connected to the internet to collect and share data. By combining the devices with an automated system, one is able to gather data, analyze it and formulate an action. Basically, IoT is about data, networks, and devices.
When it comes to Blockchain technology, one of the biggest challenges has been functionality and scalability. As more and more people come up with applications that are specific to different sectors, the drawback has been that the Blockchains are challenging. What is more, the exterior environment has no additional Blockchains to support the innovations.
As an example, globally, there are numerous devices connected to the internet, from smartwatches to fitness bracelets and smart homes. These devices are from different producers. This means that they are autonomous. Should they be linked to the existing blockchains, it will be impossible for them to interact without protection risks.
These existing blockchains, for instance, Bitcoin and Ethereum pose what has come to be called a ‘transition risk’. Transitions are the locations where the blockchains connect to the outside environment. They may be left vulnerable to hacker attacks. The question then becomes how one may eliminate these changeover risks.
What is Skynet? / Solution
Skynet is an end-to-end protocol that brings together a blockchain core and a fault tolerant infrastructure to form a new intelligent network. The platform provides a network that is scalable and one that supports billions of IoT devices. The architecture makes it possible to transact instantaneously with an unlimited throughput. The platform connects the existing products and blockchains while eliminating risks.
Through the Skynet chip, manufacturers will get properties that start the blockchains. The properties are things like obligations, mini transactions and protected relationships with other devices. As the devices will link to Skynet, they will be able to exchange data among themselves. They will enjoy the benefits of a simple distributed system.
Skynet gives contracts with businesses from all over the world. The company sets the stage for universal lucidity and trust. For instance, with the platform, one will be able to implement a general-use economy, an idea which once seemed utopian. As a user, you will be able to use whatever you wish, globally, relying on automated calculations. The implements will be both to spend and earn. That is, after performing a social activity, the worth will reflect in your wallet.
In a different example, worlds that were once fantasy become real, as is the case with PC eyesight. Connected cameras with Skynet’s technology will be able to collect information and for example, warn the relevant people. Another bonus for the program is that it will mine currency for the user. This will work as an incentive for them to use their devices.
Benefits of Skynet’s Blockchain for IoT
Skynet looks to revolutionize the use of IoT gadgets by combining them with blockchain networks and throwing in an accelerated AI processing. The design of Skynet’s Core makes it possible to embed the chip with any SoC. The design of the chip also allows it to be used for small servers or edge nodes. Consequently, Skynet Core will be able to be implemented all over the world.
The potential applications of Skynet include wearables, smartphones, connected cameras, soft robots and cars that can self-drive. Machines will be able to distribute their workloads and share memory and computation and they will be able to self-train based on private data without sending it, thereby becoming more accurate.
The Skynet system offers a development platform for IoT uses. To make the idea viable for small devices, Skynet coins Skynet core. These are hardware IP blocks meant to be embedded on IoT gadgets. They work as sensors. Skynet Core will form the ideal place for IoT to deploy the applications they develop. It will be distributed through an agreement that is license-free to SoC (System-on-chip) manufacturers. The architecture of Internet of Things gadgets will appear as follows:
Figure 1: IoT Architecture with Skynet Core
Skynet Open Network
Skynet Open Network (SON) is an optimized network for IoT that will be scalable. The network will make it possible to transact between devices. The many Skynet Cores on devices all over the world will have native SON that will make the network the most adopted application of all blockchains. SON’s architecture allows subsystems that are chaotic and scalable IoT by offering benefits like cross-chain communication and a decentralized exchange.
In the movie ‘The Terminator’, the concept of Skynet is called a ‘fictional conscious super intelligence system’. It is futuristic and ambitious. One of the company’s ultimate goals is to become the central core for IoT gadgets.
If you look past the name and its connotation, you will see that Skynet has the innate potential to disrupt IoT and the blockchain. The success of the project will depend on how the chip is adopted across many IoT devices. The company will also need to make the technology versatile so that it can serve different hardware requirements and patents. However, if they succeed at that, the network could become the go-to choice for any device connecting to the internet and willing to merge into the blockchain network.
The project is surely intricate, what with its designs, features and comprehensive whitepaper. To read further on it, make use of the following resources: