Currently, there are many trade-offs in the blockchain space–one of the biggest is the trade-off between speed and scalability, and the infrastructure design. Cypherium hopes to create a more practical blockchain that is more efficient, has smaller transaction fees, and is more developer-friendly.
In order to retain a decentralized design and have the necessary scalability, platforms will need to adopt a better consensus algorithm. Cypherium’s unique consensus algorithm splits the traditional proof-of-work design and mining, which provides reduced transaction times and increases scalability.
Cypherium also uses a permissionless-hybrid design, which helps keep their blockchain decentralized. They are currently working to support smart contracts on their platform, as well as work with partners to solve existing enterprise problems.
Sky also discusses his thoughts on the future of blockchain and artificial intelligence, how to bring blockchain into the mainstream, and the important role that education will play in the future of the blockchain space.
For more information, visit www.cypherium.io.