Singapore-based blockchain innovator Sky Singapore has formally introduced that its core venture, the SKY public blockchain, has efficiently accomplished a $10 million Series A financing spherical. The spherical was led by PayPay, Japan’s main cellular fee platform, with participation from Fumao, a outstanding cross-border fintech service supplier; Airwallex, a number one digital fee options supplier in Asia; and MetaComp, a Web3 infrastructure developer primarily based in Singapore.
This financing marks not solely robust market recognition of SKY’s technological capabilities and ecosystem potential but additionally a key milestone in advancing the combination of conventional finance and decentralized expertise.
As a next-generation high-performance blockchain infrastructure, SKY goals to construct a distributed community that helps high-concurrency transactions, low gasoline charges, and multi-chain compatibility. Its core expertise focuses on enhancing the effectivity and safety of on-chain monetary purposes, exhibiting distinctive benefits in fee settlement, asset tokenization, and cross-border finance.
The newly raised funds will probably be allotted towards mainnet upgrades, developer ecosystem enlargement, and strategic institutional partnerships throughout the Asia-Pacific area. By integrating PayPay’s retail fee community in Japan, Fumao and Airwallex’s cross-border commerce finance assets, and MetaComp’s compliant digital asset companies, SKY will speed up the adoption of RWA (Actual World Asset) tokenization and enterprise-grade DeFi options.
Notably, SKY’s ecosystem technique demonstrates robust synergy with its buyers’ enterprise landscapes. PayPay, with over 50 million Japanese customers, will drive shopper adoption inside the SKY ecosystem; Fumao and Airwallex will leverage their cross-border commerce buyer bases to discover provide chain finance and settlement programs constructed on SKY; and MetaComp will present regulatory and technical infrastructure help to collectively construct an on-chain monetary ecosystem spanning East and Southeast Asia. This partnership not solely reinforces SKY’s positioning as a bridge between conventional and decentralized finance but additionally gives a brand new mannequin for blockchain’s position in empowering the true econom
This financing additional underscores world buyers’ confidence in scalable and compliant blockchain infrastructure. The CEO of Sky Singapore said: “Our aim with the SKY blockchain is to grow to be the important thing hub connecting conventional finance with decentralized ecosystems. Via strategic collaborations with PayPay, Fumao, Airwallex, and MetaComp, we are going to acquire multidimensional help in expertise, use circumstances, and compliance, accelerating our imaginative and prescient of reaching monetary democratization.”
Technical Structure Overview
The SKY blockchain’s structure is designed round three pillars: excessive efficiency, safety, and developer friendliness.
Consensus Layer: Obelisk Algorithm & Anti-Assault Design
At its core, SKY employs a singular Obelisk consensus algorithm, which abandons conventional Proof-of-Work (PoW) so as to basically handle the Byzantine Generals Downside and claims to get rid of the risk of 51% assaults.
Every node maintains a belief community, constantly monitoring the conduct of different nodes. When malicious exercise (similar to double spending or invalid block publication) is detected, the community routinely isolates the offending nodes, stopping coordinated assaults. Consensus is achieved with out mining, making it energy-efficient and resilient underneath hostile circumstances.
Community & Information Layer: Fiber Structure and CO Storage
For scalability, SKY adopts a “Fiber” parallel chain structure, a extremely customizable blockchain framework that helps a limiteless quantity of parallel subchains underneath a predominant chain. Every subchain will be tailor-made to particular use circumstances (e.g., gaming, finance), theoretically enabling infinite transaction scalability.
On the information entrance, SKY developed a CO Object System, a peer-to-peer cloud storage service designed for distributed environments. It combines blockchain’s immutability with the scalability of a CDN (Content material Supply Community) to keep away from congestion brought on by extreme knowledge storage on-chain.
Contract & Software Layer: CK Language and Developer Surroundings
To reinforce sensible contract reliability, SKY created a devoted programming language referred to as CK, constructed on Go. CK is designed to be the primary blockchain language guaranteeing determinism on the language degree, making certain excessive ranges of safety and reliability for sensible contracts.
The venture additionally gives by-product toolkits like CK-Sport, simplifying decentralized utility and sport improvement. The whole surroundings emphasizes developer accessibility, aiming to decrease the entry barrier for DApp creation.
Privateness & Communication Layer: Skywire Community and Nameless Transactions
SKY has constructed a decentralized communication community referred to as Skywire, designed to withstand frequent cyberattacks. Inside this community, SKY natively helps CoinJoin transactions — a mixing expertise that conceals transaction origins and locations, offering untraceable and privacy-preserving transfers. Mixed with high-performance routing protocols, it ensures enhanced anonymity and community safety.
Strategic Ecosystem Collaborations
SKY’s ecosystem technique focuses on integrating conventional monetary assets and increasing cutting-edge blockchain purposes.
Finance and Payment Gateways: Bridging Conventional Belongings and DeFi
SKY actively promotes on-chain circulation of Actual World Belongings (RWA). In collaboration with RWAfi answer suppliers like Plume, SKY has deployed the SkyLink protocol, enabling tokenized real-world property similar to U.S. Treasuries and personal credit score to be introduced on-chain.
Via its high-throughput infrastructure, SKY presents customers compliant and accessible monetary merchandise. Within the stablecoin sector, it has launched USDS, a stablecoin impressed by MakerDAO’s DAI, using an overcollateralized crypto mannequin with an annual yield of roughly 6.25%, strengthening SKY’s presence within the DeFi ecosystem.
Gaming and Social Functions: KittyCash and SkyMessenger
Constructed on SKY’s Fiber structure, KittyCash represents an entire on-chain gaming ecosystem, showcasing the community’s skill to deal with complicated logic and transactions.
Moreover, SkyMessenger gives absolutely encrypted communications, forming the premise for a decentralized social community (BBS) that explores the following frontier of privacy-centric social purposes.
Cross-Border Settlement and Institutional Liquidity
Leveraging its excessive transaction throughput, SKY focuses on optimizing cross-border fee eventualities. Its ecosystem companions are growing T+0 settlement options for cross-border commerce and e-commerce, aiming to resolve conventional challenges of excessive price and gradual velocity.
Conclusion
In abstract, the SKY blockchain seeks to construct a safe, environment friendly, and developer-friendly blockchain infrastructure by way of improvements such because the Obelisk consensus, Fiber structure, CK programming language, and Skywire community. Its ecosystem emphasizes bridging real-world monetary property to the blockchain through RWA, whereas increasing use circumstances in stablecoins, gaming, and DeFi.
By combining technological innovation with strategic monetary partnerships, SKY positions itself as a significant bridge between conventional finance and the decentralized world — paving the best way for a extra inclusive, clear, and democratized monetary future.
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