Counos X - the blockchain of the Counos financial platform, positioned by the developers as "an integrated solution for payment services, based on blockchain technology".
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Description of Counos X
Counos X, launched on June 1, 2019 by a team from Switzerland, was designed to simplify payments and invoicing, especially for easy fiat exchange. As long as its price is determined by the market, attempts will be made to prevent its value from fluctuating too much.
Project usage scenarios:
| Cоunos Omni Layer (Issue Token) | Cоunos Layer - a software layer that can be built on top of the Blockchain cryptocurrency network. It will be added to the CCXX blockchain so that crypto assets such as tokens and other custom digital assets can be created. The Omni Layer Protocol (OMNI), which was built on top of the Bitcoin blockchain to create Tether, is one of the most famous examples of it. |
| Certification system | The certificate issuing system allows CCXX Blockchain to issue all kinds of certificates such as university diplomas, transport documents, identity documents, customs documents and more. |
| Electoral system | Elections and voting mechanisms can be conducted through the CCXX Blockchain network, so they are secure and transparent. Each vote cast by voters is matched with a Counos X transaction. This means that the number of Counos X coins will be equal to the number of people, eligible to vote. In order to vote for the desired candidate, each voter must send their coins to the candidate's wallet. |
| Copyright system | The Counos X blockchain network will help to register and store all types of patents, invention patents, intellectual property rights, music rights, and so on. The CCXX blockchain is completely decentralized, transparent and protected from unauthorized access. |
| Decentralized Finance (DeFi) | Using this decentralized financial system, assets can be collected into a crypto pool. This reliable system allows you to store assets and issue loans. This lending process is based on the reliability and integrity of the CCXX DeFi system. |
There is no limit to the number of coins that will be offered on this network, but about 18 million coins were mined in the first phase. In the next stages, the first block after it will be rewarded with 0.035 coins. The remaining blocks will not be rewarded.
Unique features of the project
Through the implementation of the latest known methods in cryptocurrencies, in addition to ensuring maximum security, it has been aimed at increasing the security of payments. Typically, transactions are completed in less than 2.5 minutes.
Among other benefits of CCXX is that if you keep Counos X in your staking wallet for more than a year, you will receive 5% staking. If you hold Counos X for more than 6 months, your coins will increase by 2%.
Buying and selling coins
The specifics of exactly how Counos X is mined is as follows: as mentioned above, the main algorithm used is proof of work, however, due to some additional requirements for miners, it would be more accurate to say that the used algorithm is a mixture of proof of work and proof of stake. The reason is that in order to mine Counos X, using the official Counos mining pools, the following conditions must be met:
- the miner must have an account on the Counos platform and complete the full KYC course of level 1 and level 2;
- the miner must have at least 10,000 Counos X;
- if the conditions are met, it will be possible to receive 0.0035 CCXX for each created block.
If the above conditions are not met, mining does not give a reward. Thus, the mining reward will not be calculated for blocks, and only the transaction fee, proportional to the share of the miner's power, will be considered as a reward. The best cryptocurrency exchanges for trading Counos X shares are currently ExMarkets and Dex-Trade.