Skycoin is a cryptographic digital currency based on a new encryption primitive technology called the public broadcast channel. It introduces a new consensus algorithm called Obelisk. Obelisk reduced the work load of Bitcoin's bottom layer and the commitment problems caused by the mining process, thus solving a large number of security problems related to mining. Obelisk is not actually an algorithm, but uses multiple technologies to implement a security assurance implementation. With a new, lightweight, low-power consensus mechanism, skycoin has a transaction throughput rate of over 3000 TPS, and throughput can be extended to millions through gateway payment technologies.