Token

Summary 

1. All the Skychain tokens were issued at the ICO stage. No more coins will be issued in the future. 

2. Skychain is based on the proof-of-stake concept. To add a new master-node it must have a deposit of 100,000 coins (tokens). 

3. Any transactions within the Skychain ecosystem will be paid for in Skychain coins (tokens). 

4. Skychain has issued 14,400,000 coins, 12,000,000 of which were be available for sale. About 10,3 millions were sold during the ICO. 20 percent of the amount issued were distributed among the project team and the partners. The tokens held by the project team will be locked up until April 2020. All of the unsold tokens (1,7 millions) were burnt. 

When the Skychain project is launched, which is planned for the summer of 2019, the tokens will be converted into Skychain’s own cryptocurrency, Skychain Global Coin. Each Skychain token will be converted into one Skychain Global Coin (SGC). 


Purchase of Skychain tokens

As the ICO stage is over, Skychain tokens are available for purchase only at crypto exchanges. At this moment, it can be purchased via Idex and Livecoin. In the nearest future, we plan to expand to other exchanges.

Using Skychain tokens (coins) 

The primary purpose of Skychain coins is to reward parties in the Skychain ecosystem for their services. 

1. When a consumer (a doctor) pays a fee for using a diagnostic AI system, the fee will be split between the following parties:  

   a. The healthcare data providers whose data sets were used to train the AI system b. The AI developer 
   c. The master node that provided computational resources for the AI system to produce the result 
   d. Other master nodes that confirmed the transaction will also get a small portion of the fee paid by the consumer 

2. Adding a new master node: 

   a. To connect a new master-node it must have a deposit of 100,000 coins (tokens). 
   b. The Skychain Global management company will certify the master node, run a security check, and make sure that the node is correctly connected to the Skychain network. 

3. Certification of new healthcare big data providers:

   a. New data sets added to the Skychain ecosystem will be checked by the Skychain Global management company, which must confirm that the data are as good as claimed by the provider. 
   b. The data provider will pay the Skychain Global management company a fee in Skychain coins as per the price list. 

4. AI training 

   a. Each AI will be trained by a Skychain node. The AI developer will pay the node for the service in Skychain coins. 
   b. The AI developer can select a node for AI training (for example, based on the lowest price). 

5. Transactions 

   a. Skychain will automatically charge a commission for any transactions within the ecosystem and distribute the amount collected between the master nodes. 

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