Vitznau, Switzerland – After its initial announcement during July of this year, Counos is working on entering the next step in its Roadmap, which is the official launch of its innovative concept -scheduled for January 2019.
A new set of commercial tools and currencies with individual qualities and developed to appeal an international audience; the strategy behind will display a stable currency and limited supply (21,000,000 coins).
Along with another traditional service such as Western Union, these coins will work as an exchange between native currencies and payment method. However, users will be the ones who have real control thanks to the decentralized quality of a protocol independent from other cryptos; Besides, each of the currencies will be supported by equivalent deposit in fiat currency (mainly Swiss Franc) or external asset, deposited along the banks.
As a direct consequence of this type of infrastructure, it offers an anti-volatility tool where the currency is reliable, flexible and practical; in contrast with those linked to Bitcoin or based on the Ethereum protocol. In recent statements, its founder, Dr. Pooyan Ghamari, stated that the tool possesses the necessary elements to “make the acceptance of cryptocurrency worldwide, a reality.”
Ghamari also affirms that the platform -based on the timestamp server and proof of work- will allow its digital capital to be handled as fast as the physical capital.
The architecture of the platform provides users with scalable performance as more computers join the network. The nodes of the system are encouraged to maximize their performance and at the same time reinforce security. On their side, the payments use a hash-based property mechanism; resulting in a faster process, rather than digital signatures.
In turn, the nodes use the proof of work (PoW) to determine the moment in which a transaction took place. In summary, the verification of an operation made with any of the currencies is achieved in a record time of approximately 2 minutes and 30 seconds; a distinct contrast with what is offered by other alternatives, as exposed by Access Wire.
The method behind the transaction
Users will be able to manage their funds by using the Counos wallet. Like all dApps, it can be downloaded and run on both laptops or desktops and will also be available on mobile devices. The platform counts on several features to ensure privacy, including the scanning of a QR code to perform the various transactions. According to the official data, the available currencies are:
- Counos Coin: With an algorithm that evokes Bitcoin’s, 16,800,000 coins are extracted, and alpha can extract the rest of the final 21,000,000 coins.
- Counos Cash: 21 million coins being obtained, it’s used for all commercial transactions and money transfers, at a constant price of 20 Swiss francs.
- Counos Gold: With an algorithm similar to the one of Counts Coin, all 21 million coins are extracted and equivalent to one gram of gold Coin in Swiss Box, practically carried without the transfer of gold with a digital currency.
- Counos Silver: Unlike the previous one, silver is deposited in Swiss banks as a backbone. The main feature is the use of script as its proof-of-work algorithm.
- Counos E: Designed for the transfer of capital with minimum charges in different countries. Its clearance is founded on Euro, with a value equivalent to 100 Euros.
- Counos U: Founded on US Dollar, has an amount equal to $ 100.
- CAD Counters: This is based on the Canadian Dollar, and has a value equivalent to 100 CADs.
In parallel, the exchanges are made between pairs (P2P). Users will be able to track the record of their transactions and also, collect capital in cold storage through hardware.
As the company expresses it on its website, “Most European countries use Euro, Russian Ruble and the US Dollar and they are used in banks or foreign exchanges,” the different native digital currencies establish a versatile marketing system based on a blockchain protocol that bets on decentralization and open-source.
In recent statements, different spokespersons of International Limited CSC (the developer company behind the platform) stated that with Counos, they succeeded the triple challenge of achieving a fast, secure and decentralized cryptocurrency. And therefore, meet the requirements of the enthusiastic crypto community.
For more information, visit: https://counos.io