Blockchain Network of Counos H
This coin and its Blockchain network have been designed in order to be used to launch a stock market and a trading platform. In fact, Counos H will be used to create new tokens. These tokens will be utility tokens.
These utility tokens will be based on commodities, although not backed by them. What this means is that the price of these tokens will vary depending on the commodities; for instance, rice, wheat, gold, silver, coal, etc. Basically, any economic good that has a rather substantial fungibility.
Mining Process and Reward
With regard to the specifics of mining and Blockchain mechanisms of Counos H, it need to be mentioned that the first 8,888,880 coins have been generated in the first 113 blocks. After that, each generated block will earn 0.5 CCH coin as its mining reward.
Block Generation Time
Additionally, the minimum time between two blocks is to be 1.5 minutes, and also the average block generation time 2.5 minutes. All the blocks that are created after block height 1000 will have a maturity time of 2,628,000 blocks, which is about 10 years.
In addition, in order to mine Counos H, miners need to be what is called trusted miners, and all miners start mining after block 1000. Trusted miner means that they need to have a balance of at least 500,000 CCH.
Miners also need to have a verified and valid account on Counos SSO and obtain their KYC verification.
Lastly, all miners need to obtain valid mining certificate, which will be used in signing the block every time a new block is created by that miner in the Blockchain network of Counos H.