Skey NetworkPrice

(SKEY)

Skey Network is an independent blockchain platform specifically designed for the 'Blockchain of Things' (BoT). Its primary goal is to provide a secure and cryptographically verifiable system for managing access to physical assets, such as vehicles, smart locks, and sensors. By merging IoT technology with blockchain, the project creates a hybrid ecosystem where physical devices can interact with decentralized applications and smart contracts without traditional intermediaries.

Unlike traditional NFTs used for digital art, Skey Network utilizes NFTs as digital 'access keys.' Each unique physical device, such as a rental car or a hotel room door, is assigned its own NFT. The holder of this NFT is granted specific access rights to the physical device through the blockchain. This system allows for the secure, decentralized, and automated management of physical infrastructure and shared assets.

Second-generation oracles serve as critical bridges that verify real-world data captured by IoT sensors and transmit it into smart contracts. This allows the blockchain to respond to physical events. For example, an oracle can verify a payment or a specific sensor reading to trigger a physical action, such as unlocking a gate or confirming a delivery, ensuring seamless interaction between the digital and physical worlds.

SKEY is the primary utility token used for ecosystem governance and is available for trading on platforms like LBank. In contrast, SkeyUSD is a internal 'technical token' used by businesses to pay for services within the network. To acquire SkeyUSD, companies must purchase SKEY tokens from the market. These SKEY tokens are then locked or frozen, which serves as a deflationary mechanism that reduces the circulating supply as network adoption increases.

The project focuses on three core areas: Smart Cities, Logistics, and Ticketing. In Smart City applications, it automates municipal services like waste management and energy efficiency. In logistics, it facilitates container tracking and document authentication. Additionally, its SkeyTIX solution uses NFTs as event tickets to eliminate fraud and streamline entry processes. The technology is already being implemented in cities and through partnerships with major telecommunications and IoT firms.

Businesses can integrate their products using SkeyBOX, a 'plug-and-play' toolset that allows existing services like delivery or property management to connect to the blockchain with minimal coding. To support mass-scale applications like Smart Cities, the network is built for high performance, featuring transaction speeds of approximately 10,000 per second. This ensures the infrastructure can handle the high-frequency data demands of global IoT ecosystems.