Counos Platform White Paper

Counos Platform, established in 2018, is based in Switzerland and offers many services in the domain of the Blockchain technology and the cryptocurrencies...

Nov 22, 2020 - 14:13 Updated: Nov 22, 2020 - 14:49

3121

White Paper Counos

Introduction

Any country, society, and economic system has a process through which wealth and value is created. There is also a process of value and wealth mobility in place, which is in fact carried out using money. Since money acts as an intermediate to exchange value. For instance, if a country produces jewelry, oil, watches, cars, or any other goods and services, it is in fact a value that is being created. When the common currency or money of that country is used to transfer the wealth and value, the country gets powerful and rich. This is the fundamental idea behind Counos. The idea is to create an economic society or club in which people can engage in creating businesses and creating value based on the capabilities and facilities provided for them. These people can connect to each other from anywhere in the world and thus a financial system is created in this way. Then, through the interactions that the members of this society or club have with each other, and with the help of the capabilities that is provided to them and the value that they create themselves, money and finances begin circulating in this system.

So the aim is to provide the necessary capital, tools, and anything that a society needs to prosper and create more value. The currencies used to transfer this value represent this economic system. On the other hand, the entire economic system that is created will act as the backbone of the currency, making it more precious and powerful.

As a result of this, interactions among people in different countries will become easier and transfer of wealth will take place on a much larger scale. Our aim is to create this economic system that is based upon a community or society .

The members of this community will be given tools and opportunities required to further their aims and care more wealth and value. All of this financial community is based upon a solid bedrock and capital that allows it to produce more wealth and transfer it to other societies and communities using its currencies.

Counos Platform

The Blockchain technology has made its way to almost every aspect of economy, industry, and so many other domains. Some countries are considering transferring their exchange markets from a traditional financial system to one that is based on the Blockchain technology. Many industries are beginning to utilize the Blockchain technology in order to facilitate their affairs and increase their efficiency. Soon we will be witnessing a trace of Blockchain in all daily affairs of life.

As the applications of the Blockchain technology grow and this technology is being accepted by more and more countries, so does the need for platforms that offer services in the domain of the Blockchain technology.

Counos Platform, established in 2018, is based in Switzerland and offers many services in the domain of the Blockchain technology and the cryptocurrencies. The main aim of Counos Platform is to establish an economic community based upon the Blockchain technology so that its members could further their aims with the help of this technology and through this community like the citizens of a country. Since ultimately, a large network of decentralized systems is created, all the power within various individuals, communities, and economies would be gathered in one place. Thus, the borders will diminish and people from all around the world and from any country will be able to engage in financial affairs and create wealth and value. All of this is possible because of the large community and club that is created and the connections, possibilities, and tools that exist in them. This created financial system and society, that has Blockchain as its bedrock, can make many fundamental changes in the human societies.

By offering a wide variety of stablecoins, cryptocurrencies, and online financial services, Counos Platform provides safer global financial trades and investment in the digital market.

In addition to the cryptocurrencies and stablecoins offered by the Counos Platform, this Blockchain platform also offers a variety of other services, including Counos Decentralized Exchange (Counos DEX), Counos Escrow, Counos Payment Gateway, Counos Web Wallet, and Counos Mobile Wallet.

Additionally, Counos Platform is going to create different tools and utilities in order to create a safer and larger economic system. Tools and utilities such as election system, certificate issuance system, and many other. These features will create even more value and wealth. Also, all these features are carried out using the coins offered by Counos which will make them so much more valuable.

Counos Coin

Counos Coin (CCA) is a cryptocurrency that operates within a completely independent network. The purpose of Counos Coin is to provide the highest standards from a reliability perspective for financial transactions and payments worldwide. And as previously mentioned, since the aim is to establish a financial community or club, Counos Coin will be used as one of its currencies. Additionally, Counos Coin will be used for the services that are offered in this club. Counos Coin is a currency that can be used for daily uses and can act as a decentralized bank. Since you can purchase it and deposit it in your account like a bank account. Then you can transfer it, exchange it, and buy other goods and services with it. This is much more than conventional banks and currencies, since Counos Coin is a decentralized value that offers so much.

As a result, a huge and increasing demand for Counos Coin is created. For instance, people will start demanding Counos Coin for their goods and services. On the other hand, to purchase these goods and services, other people would ultimately need to purchase Counos Coin, which increases the demand for this cryptocurrency even further.

The coin uses a SCRYPT algorithm. The proof of the Counos Coin functionality is created via proof-of-work technology in the form of a peer-to-peer network. 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 specifics of how the mining and reward process of Counos Coin works is that 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.

You can find out more information by visiting Counos Coin’s page on CoinMarketCap. Also, Counos Coin (CCA) is supported by the following exchanges:

Counos X

Counos X (CCXX) is the first coin that is bankable and implements the proof of work algorithm. The number of coins to be offered in this network has not been limited, but in the first stage about 18,300,000 coins have been mined. In the following stages, in case the duration between two mined blocks is more than 2 minutes, the first block after it will be rewarded 0.035 coins. Other blocks will not be rewarded; in other words, the maximum of 25 coins will be generated in a day. Though keep in mind that it will take hundreds and hundreds of years for this source to max out and get to 21,000,000. For instance, if this full power of mining continues for one hundred years, just 900,000 more Counos X coins will be generated.

The specifics of exactly how Counos X mining takes place is as follows; as mentioned above, the main algorithm used is proof of work, however, because of some extra requirements for miners, it would be more accurate to say that the used algorithm is a mixture of proof of work and proof of stake. The reason is that to mine Counos X using the official Counos mining pools, the following conditions must be met:

The miner must have an account in Counos Platform and get full KYC level 1 and 2.
The miner must own at least 10,000 Counos X

If the conditions are met, then it will be possible to receive 0.0035 Counos X (CCXX) for each block created.

If the above mentioned conditions are NOT met, mining will yield NO REWARD. In this way, mining reward will not be calculated for blocks, and only the transaction fee in proportion to the miner’s share of power will be considered as reward.

Also these are the conditions for creating an independent mining pool in Counos X network:

The miner must have an account in Counos Platform and get full KYC level 1 and 2.
The miner must own at least 500,000 Counos X

Given the structure of the network, it is NOT possible for unknown mining pools to mine new blocks.

Among other advantages of the Counos X (CCXX) is that if you hold Counos X in the staking wallet longer than a year, you will receive a 5% staking. If you keep Counos X longer than 6 months, your coins will increase by 2%.

Additionally, as mentioned above, Counos X is the first bankable coin. Counos Platform is the first company to create a coin that can be bought directly with your local bank. No matter where you are in the world, you can purchase Counos X through your bank or directly with your broker using the Swiss ISIN number.

Also, this top rated, bankable cryptocurrency is supported by the following exchanges:

But perhaps one of the most exciting and important things about Counos X is the upcoming update in its roadmap. Some features and changes are planned to be added to Counos X and its Blockchain network, which will make this coin even more valuable than before.

When the latest update of the Counos X roadmap is fully rolled out, these features will be added to this coin:

Counos Layer: Counos Layer protocol will be added on top of the Blockchain of Counos X. The source code of Counos Layer is forked from the source code of Omni Layer. This protocol will allow the creation of crypto assets such as tokens and other custom digital assets on top of the CCXX Blockchain network. Counos Layer is a software layer that can be built on top of the Blockchain network.
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. In this certificate issuance system a piece of a Counos X coin can be used as the certificate with all of the data and information entered recorded in it, and in this way no duplicate of the certificate can exist.
Copyright System: with the help of this system, the Blockchain network of Counos X will be used to register all types of copy rights and patents. This feature can be used to register and store all types of patents, invention patents, intellectual property rights, music rights, and any other type of copyrights. This system used a piece of Counos X coin to issue the certificate for the copyrighted material, then records the data in the Blockchain with the exact data number and date.
Decentralized Finance (DeFi): based on this decentralized finance system, assets can be gathered in a crypto pool. As such a very reliable system is created in which assets can be stored and more importantly loans can be given out. This loaning process is based on the reliability and dependability of the CCXX DeFi system.

All of these technologies and capabilities are based on Counos X coins. Since all these features need Counos X to function; for instance voting ballots, certificate documents, transactions fees for the Omni Layer protocol, and all of these systems and feature require Counos X. Thus a significantly high demand is created for Counos X. In turn, this creates value and wealth, not even counting the mere transactions and payments made by Counos X. If we take into accounts the tokens that will be created based on the Blockchain network of Counos X, a formidable financial system will be created based upon Counos X alone.

You can find out more about Counos X by visiting its page on CoinMarketCap and also find out about its rank among all the coins listed by this website here.

Counos U

Counos U is s stablecoin that was developed based on SCRYPT algorithm and operates within an entirely independent network. All 21 million units of this cryptocurrency have already been mined and will be made available for public offering. The proof of the Counos U functionality is based on the proof-of-work technology. This type of cryptocurrency was introduced as a payment solution for transactions and settlements denominated in the currency of the United States of America. In addition, the cryptocurrency is accepted in the Counos Payment Gateway and can be also used to execute transactions and settlements globally.Counos U has a fixed value of $100. To ensure this, a specially developed vehicle is built. This vehicle secures the deposited dollars. That is 4 trustees, a Swiss bank and seven other lawyers. And when a Counos U is bought, 100 dollars are deposited in the investment company by the investment trustees previously mentioned.

The Underlying investment strategy is based on the Alpina China Bond AMC, which is invested in the most liquid AAA rated China Bonds providing daily liquidity.

Counos U is based on the Alpina China Bond AMC with following investment universe: The universe consists of China Mainland Government bonds of the Shanghai Exchange and Interbank market. Alpina ATF China Mainland Bond ETF is based on the Allindex CMB Index, with following investment universe: The universe consists of China Mainland Government bonds of the Shanghai Exchange and Interbank market.

Also, Counos U has an annual interest rate of 3.9%. When Counos U is purchased and released to the buyers, this annual interest will be considered for them.

Additionally, Counos U is a bankable coin. The Counos platform was the first to create a coin that can be bought directly with your local bank. No matter where in the world, go to your bank, stock exchange, or your broker directly and buy Counos U through the Swiss ISIN. The latter will ask you for the ISIN which you will find here, then he will send the money to a Swiss bank and they will secure your assets.Furthermore, using the Counos Decentralized Exchange of the Counos Platform and the agents, users will be able to exchange Counos U with Fiat currencies around the world and to exchange back again.

Lastly, Counos U can be used to send money around the world 24/7 in a safe and fast way. The minimum transaction costs are also negligible and therefore unrivaled. The Blockchain only takes 2.5 minutes to confirm a transaction and since it is not a token but a coin, this will not be longer.

Counos Escrow Service

Counos Escrow System is a financial crypto service wherein a trusted third party keeps the payment of a transaction made between two parties (Using Multi signatures Wallet technology). Counos Escrow is managed and operated by the exchange company Counos OÜ, which is registered in the country of Estonia and has acquired the necessary permit and license for operation.

Counos Escrow holds License No. FVT000181, which allows it to offer virtual currency wallet services and to provide crypto and fiat exchange services.

Counos Escrow is a very valuable Crypto escrow particularly when dealing with a lot of money. For example, when users want to sell their goods or services but are hesitant to deliver before being sure that the payment is made, and on the other hand, when users want to buy goods or services and are also hesitant to make the payment before making sure of deliverance.

With the help of Counos Escrow transactions can be made in a safe and secure manner with no risk of fraud. You can complete safe and secure payments with your coins (cryptocurrencies) using Counos Payment Gateway. While making the payment, Counos Escrow will not disburse any funds (held in Multi signatures Wallet) unless both buyer and seller are fully satisfied

Crypto escrow is considered the most secure method of payment with no risk of fraud and scam. All the crypto that is transferred with Counos Escrow are kept in a secure Multi signatures Wallet which has 3 private Keyes one for Buyer, one Seller, and one for Escrow Agent. This whole process happens with the help of escrow agents. You can use this service with assurance of safety and security for your commercial trades, use cryptocurrencies supported by Counos Escrow to make complete transaction and payments, and complete your contract overseen by agents.

Counos Escrow agents are responsible for overseeing and observing the accurate completion of a contract. These individual agents are comprised of legal firms and attorneys. One of the escrow agents of this crypto escrow is the Counos Escrow System itself, having a legal license for exchange and wallet. Among other escrow agents are the official EU registered law firm Gh Legal S.R.O, and Cedric Scmid, official attorney at law in Switzerland.

Counos Decentralized Exchange (DEX)

Counos DEX is an Estonia-based decentralized exchange that was launched in 2019, managed and operated by Counos OÜ, a company that is registered and licensed to legally operate in the EU zone. This platform was designed to offer peer to peer and community-based decentralized trades in a secure environment that empowers all crypto traders.

The services of this exchange are available in 248 countries from all over the world. Users not only can exchange a variety of cryptocurrencies, but they can also use the common fiat currencies to buy and sell digital coins.

Counos DEX holds License No. FVT000181, which allows it to offer virtual currency wallet services and to provide crypto and fiat exchange services.

In order to trade crypto with fiat money and vice versa, and also to trade crypto with crypto, all users must have KYC verification.

By using Blockchain technology and cryptocurrencies, both individuals and businesses can be their own exchange without depending on any financial transfer or obligations from third-party middlemen, without any risk of fraud.

As a decentralized exchange, Counos DEX does not keep any of the assets of users, instead using an escrow service enabled by a MultiSig wallet (a multi-signature wallet), which limits the access to only two private key owners.

Counos DEX guarantees the safety of global online exchanges via two-factor authentication using Counos SSO (Single Sign On).

Counos Centralized Exchange

Counos centralized exchange provides fast, secure, and safe cryptocurrency exchange. Using world class security architectures, users can engage in crypto trades in a free and secure environment.

One of the benefits of using Counos Exchange is its powerful order matching engine with an easy-to-use interface. With this engine you are guaranteed to get the trading results you desire.Counos Exchange provides fast deposit and withdrawal of cryptocurrencies as well as fiat money. You can deposit anytime from anywhere, and also you can withdraw your proceedings at any time you want.

In the Trade page, we have implemented Single-Page Application (SPA), which enables users to evaluate the real-time status of the market, submitting selling requests, and buying bids with high speed without having to refresh the page. This way, we make sure that in our system your request is automatically matched with the best order.

Counos Exchange is a highly secured exchange that uses Counos SSO (Single Sign On) which includes Two Step Verification, KYC (Know Your Customer) to be in line with anti-money laundering regulations and prevent fraudulent practices, and other grade-A security technologies in the world to make sure that your assets are safe and secure.

Counos Exchange has a great customer support team available 24/7 to help all users. Feel free to ask your questions anytime, from anywhere. Our team is ready to answer your questions and guide you through the process of trading, exchanging, and any other financial activity in Counos Exchange.It needs to be pointed out that Counos Centralized Exchange is currently in Beta mode.

Counos Payment Gateway

E-commerce businesses can use the Counos Payment Gateway to accept cryptocurrencies as payment for their goods and services. The Counos Payment Gateway works like other payment processors, allowing shoppers to choose Payment Gateway for making payments when shopping online.

Online businesses and customers can select which type of cryptocurrency they want to use with Counos Payment Gateway, letting customers choose from a variety of cryptocurrencies and stablecoins.

Users do not have to worry about their data, as no wallet information will be required or saved by the firm, nor they will be redirected to a third-party site. Sellers will also be able to settle and send receipts after the transactions have been confirmed.

Benefits of Counos Payment Gateway

Counos Payment Gateway offers a unique level of security for both the customer and the online shop or business. No information about the wallet and payment method will be required from the customer and saved anywhere. Also, settling and issuing receipt will take place after receiving adequate confirmations, therefore this is an assurance that provides an ultimate level of security for the online shops and businesses that implement the Counos Payment Gateway.

Counos Payment Gateway is also very easy to use. In this gateway, the user will not be redirected to any other website, and he or she will not be required to submit any extra data.

Therefore, Counos Payment Gateway provides a very high level of security for both customers and online shops and businesses. The personal and financial information of customers will never be at risk with Counos Payment Gateway. And for online shops and businesses, the Counos Payment Gateway guarantees that payment is made completely before invoice being cleared, and also withdrawals of the payments made can be done easily via the gateway panel or using APIs. So, when it comes to payment gateways, Counos Payment Gateway stands alone.

Counos Mobile Wallet

Counos Mobile Wallet is an app for Android and iOS devices which enables users to send, receive, and store cryptocurrencies simply and securely. Counos Wallet supports Touch ID to secure it from unauthorized access and has second password to secure payments.

The way it works is very simple; you register in the app, receive your address for different supported coins and you can share it; or you can simply withdraw from your balance and send it for your business party through scanning the QR code or typing in the cryptocurrency address.Counos Mobile wallet supports a wide range of well-known and prominent cryptocurrencies & stablecoins; including Counos X and Counos Coin.

Using this crypto wallet, users will be able to make transactions with different cryptocurrencies in a very straightforward and quick fashion. You can also navigate through the different parts of the wallet with high speed and check your portfolio, different coins, etc. swimmingly.

But perhaps the strongest feature of Counos Mobile Wallet is its incredibly high security. To achieve this high level of security, numerous safety features have been considered for this crypto wallet. In addition to the traditional password, users can pick a second password in order to enter when making transactions. In addition users can enable two factor authentication using Google Authenticator, and again, they will be required to enter the code when making any transaction. Among other security measures are the email confirmation feature, which requires an email confirmation for sensitive actions in the wallet, in addition to Face ID and Touch ID to enter the wallet.

Additionally, one of the priorities of Counos Mobile Wallet has been users’ privacy, and through many safety and security measures that have been put in place, the privacy of users is guarded heavily. Users’ assets and personal information are protected and as such an environment has been created for them to engage in crypto transactions with ease of mind.

Counos Mining Pool

A mining pool is essentially a collection of miners who have pooled their resources and computing powers together in order to mine a cryptocurrency. As the mining difficulty of a cryptocurrency increases, it becomes harder and harder to mine, because it requires more computation power. Which itself requires more energy, electricity, and eventually more costs. This can often be too expensive for a solo miner. For this reason, miners form groups in order to decrease the costs of mining.

Each cryptocurrency has its own mining pool, or collection of its miners who have got together. If you want to take part in a cryptocurrency, you can join its mining pool and essentially join many other miners who share the mining endeavor in order to decrease costs and increase efficiency.

Counos Mining Pool presents a community of miners who have gathered together to take part in the mining process of a number of cryptocurrencies. Counos Mining Pool supports these coins: Counos Coin (CCA); Counos X (CCXX); and Bitcoin (BTC).

Counos Mining Pool: CCA

Using Counos Mining Pools, the reward for mining Counos Coin is given as follows: 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 reward 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 nodes, as it used to be so. Additionally, coin base maturity period is 100,000 blocks, it means that all reward for new blocks will be spendable after a large amount of blocks confirmations.

Counos Mining Pool: CCXX

Each day a maximum of 25 new Counos X can be mined. The reward is given to the blocks created 2 minutes after the creation of the previous block, and to those miners that are known as Trusted Nodes. In this way, 0.035 CCXX will be rewarded. If the block is created in less than 2 minutes from the creation of the previous block, and the miner is only a Valid Node, then no reward will be given, and only the network fee for transaction will be given as reward. Since the mining pool of Counos is of the Valid Node type, then the reward given to miners will be from network fee.

In order to create an independent mining pool in Counos X network the following conditions must be met: