Skyrocketing Whitepaper

What is Skyrocketing

Friends, imagine when we watch videos—whether binge-watching shows or live streaming—there’s a massive system silently supporting us behind the scenes. This system is the Content Delivery Network (CDN), responsible for delivering video content to us quickly and smoothly. However, traditional CDN systems sometimes face challenges, such as high costs and low transmission efficiency at the network edge (that is, closer to us users), especially when transmitting ultra-high-definition videos like 4K and 8K, where the problems become more pronounced.

Skyrocketing (project abbreviation: SKYROCKETING, token abbreviation: SKY) brings a “decentralized” revolution to the traditional video streaming industry through its core SKY network. It doesn’t aim to replace existing video platforms, but rather to provide a brand-new underlying technical solution, making video transmission more efficient, cheaper, and smoother.

You can think of the SKY network as a massive “video express network” built collectively by countless ordinary users. In this network, we ordinary users can contribute our idle computer computing power (computing power: a computer’s ability to process data) and bandwidth (bandwidth: the speed at which data is transmitted over the network) to help store and relay video content. In return, we receive SKY token rewards.

The target users of this project are video platforms and ordinary viewers. For video platforms, it can significantly reduce content distribution costs, improve video transmission quality, and solve the “last mile” transmission problem. For ordinary users, this means a smoother viewing experience and even the opportunity to earn income by sharing resources.

Project Vision and Value Proposition

The vision of the SKYROCKETING project is to build a decentralized video streaming and distribution network. It aims to solve several core issues currently faced by the video streaming industry:

• High CDN Costs: Traditional video platforms need to pay high fees to CDN providers for content distribution. The SKY network can greatly reduce these costs by incentivizing users to share resources.
• “Last Mile” Transmission Bottleneck: At the network edge, closest to users, video transmission often encounters bottlenecks, causing lag. The SKY network encourages users to act as cache or relay nodes, bringing video content closer to users and solving this problem, which is especially critical for high-bandwidth video transmission like 4K and 8K.
• Insufficient User Engagement: By introducing a token incentive mechanism, the SKY network enables video platforms to engage users more deeply, increase user stickiness, and potentially create new revenue streams.

Compared to similar projects, SKYROCKETING’s value proposition lies in its decentralized nature and deep optimization for the video streaming industry. It is not just a blockchain project, but a solution designed to address specific industry pain points, aiming to reshape the way video content is transmitted through technological innovation and economic incentives.

Technical Features

The SKYROCKETING project has some unique technical features, as if it has tailored a set of efficient operating rules and tools for this “video express network”:

Multi-Level BFT Consensus Mechanism

Traditional blockchain consensus mechanisms (consensus mechanism: the method by which all participants in a blockchain network agree on the order and validity of transactions) can slow down when handling large volumes of transactions. The SKY network adopts an improved Byzantine Fault Tolerance (BFT) consensus mechanism called “Multi-Level BFT.”

You can think of it as a large conference:

• There is a small group of “core decision-makers” (validator committee) responsible for quickly generating preliminary meeting minutes (blocks).
• At the same time, thousands of “supervisors” (guardians) periodically check these minutes to ensure their accuracy and ultimately confirm their validity.

This layered design allows the SKY network to maintain very high transaction processing speeds (over 1,000 transactions per second) while ensuring network security.

Resource Oriented Micropayment Pool

In video streaming, users may obtain video segments from multiple nodes. If every transaction were on-chain (on-chain transaction: transactions recorded directly on the blockchain), it would be very slow and expensive. The SKY network introduces the concept of a “resource oriented micropayment pool.”

It’s like watching a movie with friends, taking turns buying snacks. You don’t need to pay cash every time; instead, you can set up a “shared snack fund” and everyone draws from it, settling up at the end.

This payment pool allows users to create off-chain (off-chain transaction: transactions not directly recorded on the blockchain but settled off-chain) micropayments, which can be withdrawn from any other user and effectively prevent double spending. This greatly improves blockchain scalability, allowing users to smoothly pay for video content from multiple cache nodes without frequent on-chain transactions.

High Throughput

Thanks to the multi-level BFT consensus mechanism, the SKY network can support transaction throughput of over 1,000 transactions per second (throughput: the number of transactions processed per unit time), which is crucial for video applications that need to handle large data streams.

Tokenomics

The core token of the SKYROCKETING project is SKY.

Basic Token Information

• Token Symbol: SKY
• Issuance Chain: Initially integrated into the SLIVER.tv platform as an ERC20 token (ERC20 token: a standardized token issued on the Ethereum blockchain), with plans to swap each ERC20 SKY token 1:1 for a native SKY token when the mainnet (mainnet: the officially running blockchain network) launches on March 15, 2019.
• Total Supply or Issuance Mechanism: The whitepaper excerpt does not specify the total supply or specific issuance mechanism, but emphasizes its role as an incentive mechanism.

Token Utility

The SKY token plays a crucial role in the network, serving as the “fuel” and “reward” of the entire ecosystem:

• Incentivizing Resource Sharing: Users can earn SKY token rewards by sharing their computing and bandwidth resources as cache or relay nodes for video streams. This encourages more people to participate in building the network.
• Reducing Platform Costs: Video platforms can distribute content via the SKY network, reducing reliance on traditional CDNs and thus lowering operating costs.
• Deepening User Engagement: The token incentive mechanism can attract more viewers to participate in the video ecosystem, such as watching, sharing, or contributing resources, thereby increasing user stickiness.

In short, the SKY token is the economic bridge connecting video platforms, content providers, and ordinary users, driving the decentralized development and efficient operation of the network through economic incentives.

Team, Governance, and Funding

According to the available whitepaper excerpts, detailed information about the core team members, team characteristics, specific governance mechanisms (governance mechanism: how a blockchain project’s community makes decisions and manages the project), and treasury funds (treasury: funds reserved for project operations, development, and ecosystem building), as well as the runway (runway: the time project funds can sustain operations), is not mentioned. In a decentralized project, team transparency and governance models are important factors in assessing long-term development potential.

Roadmap

According to the whitepaper, SKYROCKETING has the following key milestones in its history:

• December 2017: The SKY network was initially integrated into the SLIVER.tv platform as an ERC20-compatible token.
• March 15, 2019: Planned release of the SKY blockchain mainnet code and the first real-time deployment of the mainnet. At that time, each ERC20 SKY token will be swapped 1:1 for a native SKY token.

The whitepaper excerpt does not mention more detailed future plans and milestones.

Common Risk Warnings

Investing in any blockchain project carries risks, and the SKYROCKETING project is no exception. Here are some common risk reminders—please pay close attention:

• Technical and Security Risks:
  • Smart Contract Vulnerabilities: The project may rely on smart contracts (smart contract: computer programs stored on the blockchain that automatically execute when preset conditions are met). If there are vulnerabilities, assets may be lost.
  • Network Attacks: Although a multi-level BFT consensus mechanism is adopted, any blockchain network may face various forms of network attacks, such as 51% attacks (51% attack: when a single entity or organization controls more than half of the network’s computing power or stake, potentially conducting malicious operations).
  • Technical Implementation Difficulty: Decentralized video streaming is a complex technical challenge, and there is uncertainty as to whether the project can achieve its technical goals as expected.
• Economic Risks:
  • Token Price Volatility: The cryptocurrency market is extremely volatile. The price of SKY tokens may be affected by market sentiment, project progress, competitors, and other factors, with the risk of significant declines.
  • Effectiveness of Incentive Mechanisms: If token incentives are insufficient to attract enough users to contribute resources, the degree of decentralization and efficiency of the network may be affected.
  • Market Competition: The video streaming and CDN markets are highly competitive. The project needs to continuously innovate to remain competitive.
• Compliance and Operational Risks:
  • Regulatory Uncertainty: Global regulatory policies for cryptocurrencies and blockchain projects are still evolving. Future policy changes may adversely affect project operations.
  • User Adoption: The project’s success largely depends on adoption by video platforms and ordinary users. If it fails to achieve widespread adoption, the project’s value may be limited.
  • Lack of Team Transparency: The whitepaper excerpt does not mention team information, making it more difficult to assess project risk.

Please note: The above information is for risk warning purposes only and does not constitute any investment advice. Be sure to conduct thorough independent research and risk assessment before making any investment decisions.

Verification Checklist

For any blockchain project, here are some key pieces of information you can verify yourself to help you better understand the project:

• Block Explorer Contract Address: Find the SKY token’s contract address on Ethereum (or other chains), and use a block explorer (block explorer: a tool for viewing all transactions, blocks, and address information on the blockchain) to check token holder distribution, transaction history, etc.
• GitHub Activity: If the project is open source, check its GitHub repository (GitHub: a hosting platform for open source and private software projects, commonly used for code collaboration and version control) for code update frequency, number of contributors, and issue resolution, which reflects development activity.
• Official Website and Social Media: Visit the project’s official website and follow its official social media (such as Twitter, Discord, Telegram, etc.) to learn about the latest developments, community discussions, and team interactions.
• Audit Reports: Check whether the project has third-party security audit reports for its smart contracts, which helps assess code security.
• Community Forums/Announcements: See if the project has active community forums or announcement channels to understand community opinions and discussions about the project.

Project Summary

The SKYROCKETING project (SKY network) is committed to revolutionizing the traditional video streaming distribution model through blockchain technology. It proposes a decentralized solution that incentivizes ordinary users to contribute idle computing and bandwidth resources to build a more efficient and economical video content distribution network. Its core technologies include an innovative multi-level BFT consensus mechanism and a resource-oriented micropayment pool, aiming to solve the high costs of traditional CDNs and the “last mile” transmission bottleneck, while enhancing user engagement.

The SKY token serves as the incentive and value carrier of the network, rewarding resource contributors and potentially reducing the operating costs of video platforms. The project started in 2017 as an ERC20 token and planned to launch its mainnet on March 15, 2019.

In summary, SKYROCKETING envisions a promising future where decentralized technology optimizes our daily video viewing experience. However, like all emerging blockchain projects, it also faces risks in technical implementation, market competition, token economic model effectiveness, and regulation. When evaluating this project, it is recommended that you study its technical details, community development, team background, and market prospects in depth.

Remember, the above introduction is for informational sharing only and does not constitute any investment advice. The cryptocurrency market is highly volatile—please do your own research and make decisions cautiously.