Counos is a set of completely digital currencies. The company has established 4 different types of coin offerings a Counos Coin, Counos Gold, Counos Silver, and Counos Cash. Each coin offers a slightly different variation on the peer-to-peer electronic payment methodology that Counos is well known for optimizing.
Their network operates based on timestamped transactions “hashed” into a continuous chain of hash-based ledgers providing proof of work. As with all such records the data cannot be changed without recreating the entire ledger and since the ledger is constantly growing it is impossible to alter. The ledger or “blockchain” as it is more commonly referred to as, not only serves as a verifiable source of evidence substantiating the sequence of witnessed events, but it also provides essential verification for all transactional activity.
Cryptocurrency might be a new technological innovation but the idea of cryptography and peer-to-peer transactions are as old as time. Just like two (or more) individuals don’t need a “third party” to watch over them and manage their affairs and neither do any of the coins offered through Counos.
The attractiveness associated with Counos can be ascribed to its’ peer-to-peer (P2P), typically around 10 to 11-hour transaction speed.
Counos works on a decentralized database commonly referred to as the “blockchain”. Cryptocurrency and the blockchain are often associated with Bitcoin. Bitcoin is the first and form of decentralized coin offering and Counos is another. Counos offers an algorithm and structure very similar to Bitcoin the major difference can be found in the policy and algorithm design.
Blockcahin technology as the name implies is based on individual units or “blocks” of data. Counos simply harnesses this technology, conducting transactions without going through intermediate companies. No one owns Counos and the network does not distinguish between users. In Counos the user connects to the network and controls it together with Counos developers, simultaneously improving it as they use it.
Merchants and corporations are starting to make purchases with Counos or are in the process of accepting it as a form of secured payment. Changing Conous's original protocol is not possible. Counos has been published in plain text; each user can use protocols to build applications to their needs. All the blocks distributed among millions of computers, or nodes as they are sometimes referred, so no one is able to control the records; the network itself requires only a minimal structure. Interestingly enough data are transmitted on a best-effort basis and the nodes can arbitrarily leave and re-enter the network, accepting the longest proof-of-work chain as proof of what happened in their absence. In general, all digital transactions (centralized or decentralized) need to be approved to perform.
Millions of computers around the network perform the function of verifying transactions. This storing and veryifying process is also referred to as mining. Mined Counos are stored in a tech space called the “wallet”. The wallet is like a bank account, but it is not subject to any intermediary and belongs to the user.
You might be wondering how it all works. And how is Counos different from other crytocurrenceis? Well, it’s quite simple, supposing you want to transfer money using Counos. You need a recipient digital wallet address to perform the transaction. Conuos's value of that transaction is entered into the network and the network performs the necessary financial transaction calculations. For calculation and transaction confirmation purposes, new Counos are produced and allocated to network miners. Miners will receive bonuses for the confirmation of each block at the current Conuos coin rate. Conous's specified protocol limits Counos Coin to 21 million. So when the number of Conous coins reach 21 million units, Counos coin production will stop and coins will only be allowed to circulate.
This limited number of Conuos coins in circulation means that at a certain point nobody will be able to mine Conous and its fixed number will be established and logged. Thus, Conuos is an anti-inflationary currency.
What sets Counos apart? Simplicity for one, you can send or receiving coins in your wallet using a few simple steps. For instance, if you have the wallet app on your smart phone, you can quickly pay by scanning our QR code.
In general, the ways to provide Conus are as follows:
