An introduction to Counos
Every country has its own currency and it is considered one of the most outstanding features in conducting financial affairs. Most European countries use Euro, Russian Ruble and the US Dollar and they are used in banks or foreign exchanges. All financial transfers or investments are on the shoulder of the banks around the world.
“Digital currency” is defined as any kind of money with the capability of transmission over the internet; PayPal, WebMoney, Bitcoin, and Counos are some cases in point.
Moreover, it is divided into two centralized and decentralized categories, the former operates under the supervision of a specific intermediate company or institution like PayPal, and the latter is called “Cryptocurrency”.
But, which differences do they have?
In the field of decentralized virtual money, transactions are conducted through a distributed database called “Blockchain”, without any ownership by a company. On the other hand, in centralized virtual currency, due to the support of traditional currencies, they have the same value as tangible money. For instance, PayPal is a type of tangible money, so you can receive 1000 PayPal units with a charge of 1000 dollars and simultaneously receive 1000 dollars of redeemable sale time. Centralized currencies are issued by a particular company; in other words, its wallet is only accessible on one or more specific sites; however, using them entails registration beforehand.
What is the blockchain?
In simple terms, in today's world, more than 80% of our daily business affects companies and intermediary organizations. When you open an account in a bank account or log in to your email, you're getting help from intermediary organizations. Companies and intermediaries control all of your information. For example, when you send a message to your friend on the Whatsapp or Instagram, you send this message to the Instagram database, and the Instagram database sends it to your friend.On the Chains cell databases, data is distributed among millions of computers, and no one can control the data. And if someone wants to hack a cell Chain, they should have over 51 percent of the networked computers protected by advanced encryption. It's almost impossible to hack.
For the same reason, Counos and other cryptocurrency has quickly become popular and is moving fast toward economic peaks. Counos can do transactions quickly and easily without having to register or medium companies. Nowadays, global stores and corporations have made purchases with Counos or are in the process of accepting it.
How does Counos work?
With money, the transfer of funds from one account to another requires some intermediary organizations. Counos works quite differently, and there is no intermediary. In the Counos protocol, the trust of organizations and humans has been transferred to computers. Human beings and intermediary organizations can make mistakes either unwillingly or unwittingly, but computers lack human emotions and mistakes. In general, all digital transactions (centralized or decentralized) need to be approved to perform. When you intend to send money through a bank, in fact, during a process, the system first checks your bank account balance, and if it coincides with the transaction amount in the next step, it will reduce your account balance and into the account balance Adds another. But as we said, Counos is operating decentralized and intermediaries such as banks have been removed from this network. So computers around the network do the job of verifying transactions. Counos are stored in a space called a wallet. The wallet is like a bank account, but it is not subject to any intermediary and belongs to yourself. Suppose you are going to transfer money using Counos. You receive another person's money wallet address and do the transaction. Conuos's value of that transaction is entered into the network, but here other banks or intermediary companies are not involved, and computer systems perform transaction calculations. In the Counos protocol, various people around the world put their powerful computers at the disposal of the network. But this is not just for help with the counos network. Those who provide their computers to the network are referred to as miner or extractor. For calculations and transaction confirmation, new Counos are produced and assigned to network minisers, or miners extracted Counos.
Conuos's beauty is that no third-party server requires transaction confirmation - all payments are peer-to-peer (P2P), typically around 10 to 1 hour.
All Conuos transactions are permanently registered in a distributed office called "Blockchain". Details of any money transactions in Chain are visible to all users. Transactions are placed in blocks that are scattered like the sheets in this office. About every 10 minutes, a new block of transactions is generated, and previous blocks go to the Chain block.
Miners will receive bonuses for the confirmation of each block at the current XXXXXX Conuos coin.
Conous's specified protocol limits Counos Coin to 21 million. That is, when the number of Conous coin reaches 21 million units, Counos coin production will be stopped, and conous coin will circulate.
The limited number of Conuos means that after that nobody can mining Conous and its name is known.
So Conuos is an anti-inflationary currency. In traditional currencies, the government is busy when it comes to problems, and it prints a lot of things, which is one of the main reasons for inflation. One of the reasons for Conuos and other cryptocurrency growth is also rare.