What is Skey Network (SKEY)?
Skey Network is a blockchain-based project that connects physical assets with DeFi projects on the Ethereum blockchain. The project's vision is to lay the foundation for future smart cities. The protocol enables the creation of digital services, products, and applications. Skey Network uses the Blockchain Internet of Things (BIoT) to connect devices, systems, technologies, and clouds to blockchain platforms. The protocol is powered by the native token (SKEY). You can check the current SKEY price on the live chart above.
The Skey Network largely focuses on the automation of the billing processes and access to services. Users can install BIoT on devices that enable access to resources such as gates, parcel lockers, cars, car parks, and flats. The project uses simple systems such as sensors or electronic locks to implement all operations that start with reservations and ends with access. Devices are easily connected to the Skey Network Ecosystem, which acts as a communication layer for IoT clouds of different suppliers.
Skey Network also uses another technology called Oracle II, which helps in verifying elements impacting the value such as weather conditions and seasonality. Oracle II is also used to verify user information such as credit records to help create smart contracts to access services such as apartment and car renting.
Also, the project utilizes smart contract conditions. The person issuing the contract decides the conditions. Some of the details included in the contract are contract expiration time, price, access time, user verification rules, and deposit amount.
Use Cases of SKEY Tokens
The SKEY token is a utility token that powers the Skey Network. The token facilitates payment services on the platform. SKEY token is listed on popular exchanges where you can buy it and join the Skey Network community. However, crypto tokens are volatile, therefore, you should research the SKEY price before purchasing the token. You can view the current Skey Network price on the live chart above to help you make a good purchase decision.
Who Founded Skey Network?
Szymon Fiedorowicz is the founder and CEO of Skey Network. Szymon has over 20 year’s business experience. Szymon is also an IoT expert, who has built large-scale systems including hardware devices, communication channels, and IoT cloud.
Tokenomics of SKEY Tokens
SKEY has a fixed supply of 1 billion SKEY tokens. The tokens are designed with maximum supply to avoid minting more tokens that may cause inflation. Inflation can affect the SKEY price. The tokens are distributed effectively to ensure the project’s sustainability.
