Counos X Certificate Issuing System

When it comes to the usages of Blockchain, along with the prevalent financial transactions that are made using this technology, we can depend on some key features of this technology, such as information being tamper-proof and fully transparent, and create other applications like certificate issuing system.

Components of the certificate issuing system:

  1. Confirmatory organization (root)
  2. Certificate issuing organization
  3. Certificate holder
  4. Certificate issuing wallet
  5. Exclusive explorer for certificates

At least, two types of certificate can be defined in this system:

  • Transferrable certificates
  • Nontransferable certificates

Now, we will take a closer look at these components:

  • Confirmatory organization (root or reference): the confirmatory or reference organization will create a clear path for the certificate issuing system in the Blockchain network and will localize the information of the issuing organization in the chain of transactions (Blockchain). This reference organization in charge of identifying the issuing systems will be in the CCXX network. When a chain for each certificate is created, the criteria for issuing each certificate are also defined.
  • Certificate issuing organization: any organization that wants to issue an organization to be confirmed via the Blockchain is considered as a certificate issuing organization. This organization, which can be an educational institute or a manufacturer of special and limited products, will define what type of certificate and how many should be issued. This information will be localized in transactions as explained below.

How is a certificate defined in the system?

At first, the root organization is defined. Root organization is equal to an ordinary address in the CCXX network. This address, as the reference, will have a registered UTXO and initial credit.

This UTXO, which is considered as the root credit of the network, along with the balance that is given to the root organization via a transaction, are the permit for issuing certificates.

When a certificate issuing organization comes to terms with a root organization to draw up a certificate issuing contract, per each certificate, an amount equal to 0.001 CCXX will be transferred to the address of three signatures of the certificate issuing representative.

For example, if there is a need to issue 1000 certificates, 1 CCXX will be transferred from the reference’s UTXO root to the designated address. In making these transactions, the fee is deducted from another balance other than the root.

The address designated to the certificate issuing organization is a three-signature address. The first signature is specified by the root. The second signature is provided by the issuer. And the third signature is provided by the certificate issuing system.

Certificate issuing system is in fact a special wallet that is used to issue any type of certificate. Issuing a certificate is a special transaction in the system that uses the balance of the main reference with the fixed amount of 0.001 CCXX. In the transaction, excess data related to the issued certificate will be recorded using OP_RETURN.

The recipient of the certificate will create a private key. Then, using this private key, a three-signature address is created (root signature / issuer signature / recipient signature) and the balance of this address will be 0.001 CCXX.

With the help of the exclusive explorer for the certificate issuing system, which specifies a unique address for each certificate issued, we can see when and what reference organization issued the certificate.

In this explorer, all the background information about the certificate can be accessed via decoding the recorded data.

 

If the certificate is transferable, the recipient can transfer it to others via an exclusive wallet.

This transfer is made using three signatures, current certificate holder signature, root signature, and the issuer signature. Then the transaction is made to a new address with three signatures: new certificate holder signature, root signature, and the issuer signature.

Note: transferring certificates is managed by a special wallet, which requires the signatures of issuer and root. As such, it cannot be carried out using a mobile wallet.

 

Main applications in system’s components:

  • Certificate defining system: it is similar to a wallet, which can receive the information of certificate issuers and their quantity and create special transactions (creating certificate issuer wallet – transferring the amount of certificates from root balance in addition to OP_RETURN to specify the details – transferring the amount required to pay for the fee of the certificate issuer transactions)
  • Certificate issuing system: this wallet can issue certificates by obtaining the issuer organization’s signature. To issue certificates, a special transaction is made to the address of the certificate recipient. The certificate issuing system contains the signature of the root organization.
  • Certificate confirmation and transfer system

This system, which is a special wallet, has these features:

  1. Displaying a certificate and its issuing details
  2. Confirming ownership over the certificate with the signature of the recipient
  3. Transferring certificates that are transferable
  4. This system also has the capability to receive the signatures of the issuer and root organization.
  • Certificate issuing system’s public explorer: this system offers a list of all certificates and their transactions in an open access manner. The explorer system is open source and can be installed by all users.

 

All the components of this system are only recorded on the Blockchain network. Fixed data such as wallet addresses and root transactions are registered in the source code of systems and are offered as open source.

Therefore, all the information is available to public in a clear and transparent manner.

FAQ

  • The information of the certificate is recorded in the Blockchain in two stages. When the permit to issue the certificate is sent from the reference organization to the certificate issuing organization, it will actually be in the form of a transaction. Also, using the OP_RETURN and public coding, the information of the certificate and issuer is recorded. All this information can be seen on the public explorer of the coin and the exclusive explorer of the certificate issuing system.
  • Also, when any certificate is being issued, information such as serial number and brief summary can be recorded. In this way, all this info is recorded in the Blockchain and is accessible.
  • Reference or root organization will be a centralized organization, which will control the initial information of the individual and if everything matches the defined rules, then certificate issuing permit is generated.
  • Other than this section, all other components of the system will be decentralized and all data will be recorded in the Blockchain.
  • Tools such as exclusive explorer have been provided in this system to facilitate the decoding of information. At the same time, all the info is available in the main explorer of the network. Public tools of the system will be introduced as open source.
  • The approach of this system is based on recording information in a fully transparent manner in the Blockchain. In this way, the possibility of tampering will be minimized. The reference organization will only review the authenticity of issuers. In this way, system user can make sure of the authenticity of the issuer and also of the certificate.
  • In this system, data can be seen and evaluated by anybody. Also, if needed, transferring to others will be very simple.
  • Certificate of participation in educational courses
  • University certificates
  • Certificate of authenticity for limited luxury items – such as certificate of authenticity for special watches
  • Stock ownership certificate – in this system, certificate can be issued for a minimum of shares
  • And many other similar applications