The use of the blockchain technology system is mostly adopted for trading activities that use payment systems in digital currencies. with an efficient and transparent system, users do not have to pocket bank approval in making transactions. The process is carried out using a blockchain system that is decentralized. Transactions are validated using digital signatures and transaction data is stored in a digital database that can be accessed by anyone.
Payments using cryptocurrency are all done digitally. There is no involvement of fiat currencies which usually require the role of a third party, namely the bank, as a liaison. Various types of regulations that are applied to each bank generally make the process difficult. But the payment system using cryptocurrency makes it easier for consumers to make payments directly to the relevant seller. Digital cryptography occupies the role of banks as guarantor of legitimate transactions.
In 2018, Skelpy was introduced to the public as a decentralized and certified blockchain platform. Founded first by the Skelpy Inc. company, the Skelpy platform helps create a payment system through digital currencies in a transparent and fully decentralized manner. Based on blockchain technology, Skelpy gives certified digital wallets to every user. This is the main objective of the project initiated by Skelpy which can cover every businessman who has a certified digital identity.
SkelpySystem is a decentralized platform that serves the certification process and portfolio recognition on its platform. This system will help identify the identity of the user who made the transaction. Portfolios will be recognized at the discretion of the rightful owner who will then decide on the visibility of their portfolio.
Through this platform, Skelpy wants to create a completely decentralized and clear blockchain where transactions that occur will be visible to all users. However, individual users will first be certified and approved. So that it can enable transactions between users of this platform with certified digital wallets, whether owned by individuals or legal entities, or with digital wallets that are not certified.
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.
Because 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.
As mentioned earlier, this 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.
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