Counos Coin is a crypto-coin that operates within a completely independent network. The coin uses a SCRYPT-based algorithm. The proof of the Counos Coin functionality is created via “Proof-of-work” technology in the form of a peer-to-peer network, which is comparable to Bitcoin. Counos Coin has a mining capacity of 21 million coins, which represents the cap. At the time of introducing this coin to the market, a total number of 16.8 million units have been mined. A residual amount up to the cap is available to be mined independently. The purpose of Counos Coin is to provide the highest standards from a reliability perspective for financial transactions and payments worldwide. The unit can be used to purchase gold from sellers online. In addition, the users are able to purchase and receive Counos Coin from the community, agencies which offer Counos Coin, or exchange services. Counos Coin is a decentralized cryptocurrency and its legal ownership remains with the users until the time of forming the transaction. Furthermore, this cryptocurrency is accepted in the Counos Payment Gateway currently, 1.5 units of Counos Coins will be rewarded for every mining block in Counos Coin network. The average speed of computation and mining of a new block in Counos Coin is equal to 10 minutes.
Counos Coin V 0.15.3
From the block 98500, 1.5 reward coins will only be given to trusted nodes.
Trusted nodes are those nodes that have at least 500,000 CCA.
Any node that can meet this condition will be added to the list of the trusted nodes through an agreement with Counos Platform and by submitting a wallet address to which mining rewards will be sent.
The block creation time window is still in consideration, such that the 1.5 reward coins are for those blocks that are created 7.5 minutes after the previous block, and if the time window is less than that, the reward would be divided by 10000. And now the added rule is that after the block 98500, if the node is a trusted node and the block is created in the desirable time window, it will get the 1.5 reward coins and the rest of the nodes will receive the reward divided by 10000.
And, the transaction fees will be given to all node, as it used to be so.
Other Changes in the new release of CCA :
- Coin base maturity period will be increase to 100,000 blocks; it means that all rewards for new blocks will be spendable after a large number of blocks confirm that. So, it’s not easy to earn and spend CCA through mining process. It’s very important for mining pools and miners that like to send Hashes to CCA network.
Also, there are some other changes in PoW rules;
normally blocks must be created every 10 minutes, but based on current difficulty and network hash, the time may change. According to new PoW rules, if more than 30 minutes is left from the last block creation time, and no new block is created, required work will be decreased to 1000 * PowLimit, and if the last 25 blocks are created in less than 50 minutes (each block in 2 minutes) network will increase the required work as 4 * the last known work required.
All mining pools that are confirmed as trusted nodes will be verified by a Trusted Node logo.
Counos Coin V 0.15.3.2
From block 144457, only valid miners will be able to mine new blocks. A valid miner is a miner who has a balance of 10,000 coins.
Also, from block 164457, the time window between two created blocks should at least be 7.5 minutes. In other words, if a block is created in less than 7.5 minutes after the creation of the previous block, it will not be valid.
Find new version on our GitHub Repository