Review on Counos Coin by francis fernandez
Counos coin: a single blockchain for global exchanges
Counos coin developers considered competing with the monopoly of large financial institutions that carry out border transactions at very high cost. Therefore, they decided to create a digital alternative that would offer these services at low cost and safely.
Counos was launched on the crypto market in 2018. It is a comprehensive platform that offers a wide range of financial services based on the use of fixed value cryptocurrencies. Its mission is to serve as a tool for global commercial exchange without intermediaries, at low cost and safely.
This platform has its cryptocurrency CCA (Counos Coin); a decentralized digital currency that operates within an independent open source network.
In addition to its native currency, the platform offers other fixed value cryptocurrencies to compete with fiat currencies.
What characteristics can we highlight in this coin?
* It has a hash algorithm that is based on the Scrypt protocol.
* It uses a consensus mechanism called Proof of Work that operates in a peer to peer network, responsible for its operability.
* It has a maximum mining limit of 21 million, almost mined for the most part.
* The currency can be used as a means of payment to buy gold on the internet.
* The generation speed of each block of the network is approximately 10 minutes, but it could be higher according to the difficulty and hash of the network.
* Miners receive 1.5 units of Counos Coin for each block generated, if these are obtained in at least 7.5 minutes and come from trusted nodes (those that have at least 500,000 CCA).
* Platform users can acquire the currency through exchange services, agencies or the community.
Pros
- It allows its users to carry out transactions at a global level at low cost in relation to conventional financial entities.
- Allows you to make online payments by using various digital currencies for purchases and exchanges
Cons
- The total number of coins are almost completely mined (21 million).
