Certificate Issuance System with Blockchain of Counos

Counos Certificate Issuance System

Counos X is a cryptocurrency offered by the Counos Platform and it is the first coin that is bankable and has a fixed bid and ask price. Counos X (CCXX) already has many amazing features. However, Counos Platform intends to update the roadmap of Counos X in the next six months and add many other useful features to this cryptocurrency.

One of the most important features that will be added to the Blockchain network of Counos X is the certification system. With the help of this certificate issuance system, CCXX Blockchain can be used to issue all kinds of certificates such as university degrees, customs documents, transportation documents, identification documents, etc.

The Blockchain network of Counos X will provide a decentralized database or a distributed public ledger that helps store all types of certificates in a safe, independent, and private network, which is completely tamper-proof. Every time a certificate is issued, it becomes digitized and stored in the Blockchain of Counos X to be kept in a safe, secure, and fully transparent platform.

So, when the certification system is added to the Blockchain of Counos X, any type of document can be issued and stored in a platform that is 100 percent transparent and tamper proof. There can be no duplicate or fake documents, since the Blockchain network of CCXX  is completely decentralized, independent, and transparent.

How It Works?

So using Counos certificate issuance system, for each product, event, etc. a specific proof over the Blockchain network is created.

This process in the Blockchain network consists of four pieces as follows:

1. A public Blockchain (in this case CCXX Blockchain which is publicly available)
2. A Root certificate authority ( Counos Platform )
3. Proof of ownership by reading special data from public Blockchain using owner’s private key
4. Sale or transfer of the proof of ownership to new owner

All data about certificate verification system will be stored and published over a public Blockchain using normal CCXX transaction which follows some special rules and has a specific UTXO root. Root certification authority will issue a new certificate issuance system for each special identity (like major producer, event organizer, etc.), name, and count of certificate will be registered by some special CCXX transaction. This transaction can be used for next level of issue a certificate to new owner.

A special wallet will be used to verify ownership based on Blockchain data and make it possible to transfer this ownership to other entities. CCXX balance which will be used in this scenario will be supported by more normal CCXX balance to cover transaction fee.

To check the validity of the certificate, some public data like certificate subject and first issuer and date of first issuance will be available on Counos explorer (a special explorer which allows to read hidden data on public transaction by reading previous transaction of current balance). But to show the ownership of Certificate, the owner must have special wallet and provide the private key. When the provided private key is accepted by wallet, system will display more details like all previous owner and time of issuing.

In order to apply for the Counos certificate issuance system, any business, education system, or any other organization and institution which provides significant evidence, such certificates can be issued. Additionally, verification of this certificate will be controlled by public Blockchain.

Therefore, with the help of the Counos X certificate issuing system, all kinds of certificates and documents can be issued, stored, and transferred with the help of Counos X Blockchain network and Counos X transactions in a fully transparent and tamper-proof manner.