Skey Network launches its mainnet and allocates $ 1 million to the development of its ecosystem

This article is written in partnership with Skey Network (find out more)

Smartkey becomes Skey Network

Formerly known as Smartkey, we already introduced you to the Skey Network platform on Cryptoast. Using blockchain technology, this project aims to support the technological fabric of a smart city.

Thus, Skey Network uses decentralized finance (DeFi) and non-fungible tokens (NFTs) to create an ecosystem of new business models linked to traditional services.

By using smart contracts, the solutions developed by Skey Network are strongly focused on the automation of various services, which are considered essential in a so-called smart city. An open platform, Skey Network provides an array of tools that businesses and individuals can use to build their own applications.

With the ambition of creating an economy of physical assets linked to the blockchain, Skey Network has already approached major partners, in particular the Polish branch of Orange. This partnership results in the marketing of a SIM card integrating the “blockchain of objects”.

This new kind of SIM card implements Skey Network technology so that emergency services in the Polish city of Olsztyn can seamlessly access specific neighborhoods and areas using sensors.

Skey Network Logo

Skey Network logo

👉 To find out more about this, find our full presentation of Skey Network

The Skey Network mainnet arrives

On November 10, Skey Network took it to the next level by launching its mainnet. Thus, the project now has its own blockchain and therefore dedicated nodes.

For the moment, only 12 nodes managed by the Skey Network team are in operation, but the network will gradually open up to external actors over time.

In addition, it is quite possible in the future for Skey Network partners to operate network nodes themselves.

This new step also allows Skey Network to more simply model its panel of blockchain solutions. Developers will be able to more easily create tools dedicated to the Skey Network ecosystem and their integration will be smoother.

$ 1 million to boost its blockchain

In order to stimulate the development of its ecosystem and as part of the launch of its own blockchain, Skey Network is organizing a competition open to startups from all over the world, the “Skey Challenge”.

From December 1 to the end of January 2022, startups will be able to compete to share a total amount of $ 1 million, which 10 winners will share. The winners will be announced in March 2022.

For Skey Network, this competition will serve as a catalyst for new products of the “blockchain of objects”, which will have been built on the Skey blockchain.

“The Skey Challenge is a way to encourage innovation in this area and to reward the biggest and best ideas from around the world. It is part of our commitment to unearth future smart city use cases and we look forward to seeing what our participants can create, ”said Szymon Fiedorowicz, CEO and co-founder of SKey Network.

Not least, the winners of this competition will retain all property rights to the products they have developed within the framework of this event.

Skey Network invites future participants to look at any aspect of future smart cities, and to design a product or tool intended to promote such an approach.

All the details about this competition are available on this page.

Skey Network

Skey Network makes the link between physical objects and the blockchain

👉 Consult the Skey Network whitepaper to learn more about the project

Conclusion

In recent weeks, the Skey Network teams have been accelerating. Between the rebranding of the project, the launch of its own blockchain and the organization of a competition to stimulate its ecosystem, Skey Network intends to encourage developers to develop products dedicated to the smart city.

As with any blockchain project opened in this way, massive adoption by institutions and individuals begins first with adoption by sector developers.

With them, the Skey Network blockchain will acquire many essential tools for it to succeed in its mission of democratizing the “blockchain of objects”.

If you want to join the French Skey Network community, everything goes on this dedicated Telegram channel.

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This is a sponsored and paid article. Cryptoast has made preliminary research on the products or services presented on this page but could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service put forward in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and invest only within the limits of their financial capacity. This article does not constitute investment advice.

About the author: Clément Wardzala

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.

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