There are lots of cryptocurrency in the world today. Some have been able to stand the test of time while some have unfortunately not been able to deliver on promised benefits.
One coin that is presently lighting up the crypto market is the counos. The coin has come up with some interesting facts and figures that strongly indicates its viability. Counosis basically digital money which can be used for all types of transactions. Unlike majority of cryptocurrencies, Counos has been designed to create a secure and stable p2p payment platform. There are four types of Counos digital currency tailored for different innovative solutions. These digital currency are Counos coin, Counos Cash, Counos Gold, and Counos Sliver.
The mining of Counos coin requires the use of computers or mining devices to solve a computational puzzle. The difficulty of this puzzles is determined by the average rate of block creation per hour. When the average rate of blocks generated is relatively high, the difficulty is increased. The proof of work systems is one of the safety measures that guarantee that transactions done on the Counos platform are safe from manipulations.
To manipulate confirmed transactions an attacker has to go through the process of recreating the hash of the block that holds the transaction and all the subsequent blocks that has been added to the chain after the transaction.
Like bitcoin, Counos boasts of a system that is not owned or controlled by an entity. Therefore, transactions made on the platform are not controlled by any central figure. This system guarantee users that transaction fees are immensely reduced. Also, transactions can be made anywhere in the world at any time.
Since the transaction on the platform is not monitored by a central figure, there is a need to create a way of assuring users that the coin they are paid has not been used to facilitate another transaction.
To do this, the platform has made every transaction public. Therefore every participant of the Counos platform will have a history of all the transactions made on the platform and transactions can only be confirmed when the majority of the nodes of the platform agree that they have received the details of the proposed transactions.
On the bitcoin platform, transactions are confirmed in an average of 10 minutes. To further ascertain that these transactions cannot be reversed, users are advised to wait till more blocks are added to the chain. This takes an average of one hour. Whereas on the Counos platform, transaction confirmation time takes around 2min 30secs. Therefore, time-sensitive transactions can be made using the Counos platform
The maximum supply of Counos is 21 million coins, and there is about 16,800,000 Counos coin already in circulation and 4,800,000 is available for mining.
Counos Cash: this digital currency is pre-mined and they represent real funds. The price of counos Cash is fixed and this will be regulated by CSC Int GmbH. There is a max supply of 21 million Counos cash in circulation.
Counos Gold: CounosGold is also premined. Counos deposits the exact amount of purchased CounosGold as Gold in a Switzerland bank, therefore, the value of CounosGold is guaranteed. Counos Gold can be used for all types of transactions and can also be traded for fiat currency.
Counos Sliver: Counos Sliver is very much similar to Counos Gold. The difference is that instead on Gold, Silver is deposited in a Switzerland bank for every Counos Sliver purchased. So Counos Sliver’s value is relative to the value of Sliver.