Obelisk is the proprietary blockchain consensus algorithm of the Skycoin ecosystem. It attempts to address some of the issues associated with traditional consensus mechanisms, such as proof-of-work and proof-of stake, by distributing influence over a network according to a concept called “web-of trust”. This system allows for faster transaction times and improved security against malicious actors on the network.The web-of trust model works by having nodes in a distributed network that are connected through an interlinked mesh structure where each node can be trusted or distrusted based on its past behavior within this mesh structure. Nodes will then use their own individual reputation scores when determining which transactions they should validate or not validate within this distributed ledger system. The result is increased security as well as improved scalability since more transactions can be processed at once due to fewer bottlenecks caused by centralized authority figures controlling access points into networks like Bitcoin's blockchain technology does today..In addition, Obelisk also utilizes something called "Coin Hours" which act like rewards for users who help maintain the integrity of its underlying protocol through validating blocks in exchange for coins from transaction fees paid out during those block confirmations processes instead of relying solely on financial incentives alone (like mining). This helps reduce energy consumption associated with cryptocurrency mining operations while still ensuring that there are enough people incentivized enough to keep up with processing demands from users across any given platform using it - making it both efficient and sustainable long term solution compared other existing solutions currently available today.
