https://blog.theskywirenetwork.net/tags/coin-hours/Recent content in Coin Hours on Skycoin BlogHugoenSun, 09 Aug 2020 13:00:00 +0000https://blog.theskywirenetwork.net/posts/skycoin-coin-hours/Sun, 09 Aug 2020 13:00:00 +0000https://blog.theskywirenetwork.net/posts/skycoin-coin-hours/<h2 id="what-are-coin-hours">What Are Coin Hours?</h2> <p><em>Simply put, Coin Hours are the “fuel” for Skycoin.</em></p> <br> <p>Holding Skycoin in a Skycoin wallet automatically generates Coin Hours at a rate of 1 Coin Hour per Skycoin per hour. They are earned passively and for free on the blockchain itself by parking your Skycoin in a Skycoin wallet. The most prominent feature of Coin Hours is that they keep the Skywire network free of transaction fees. This means no fee-jacking by miners for profit, as commonly seen with Bitcoin. Users will never have to pay in Skycoin or fiat currency to access and use the network. Coin Hours will take care of that for you.</p>https://blog.theskywirenetwork.net/posts/sch-listing-on-xbts/Fri, 24 Jul 2020 13:00:00 +0000https://blog.theskywirenetwork.net/posts/sch-listing-on-xbts/<p><em>Shanghai, China</em> —Skycoin automatically generates a parallel currency called <em>Coin Hours</em> (SCH) at the rate of one Coin Hour generated per hour, per Skycoin. While Skycoin has been tradable on major exchanges for many years, XBTS represents the first time Coin Hours have been made available to trade on an exchange as a separate and distinct crypto asset.</p> <p>Skycoin is a deflationary currency, with a total supply ultimately capped at 100 million coins. Coin Hours, on the other hand, were designed to be an inflationary currency with inbuilt deflationary control mechanisms, encouraging users to spend and trade Coin Hours instead of Skycoin. As the Skycoin project continues to refine Skywire — Skycoin’s groundbreaking decentralized and encrypted global mesh network — Coin Hours are set to become the currency with which to purchase bandwidth, storage, and other services on the Skywire network.</p>