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𧡠$KOIN π§΅
𧡠@koinosnetwork π§΅
Thread about $KOIN a ZERO FEE Blockchain, language-agnostic platform that is modular and can evolve
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@CryptoGirlNova @Altcoin_Gold @CryptoReviewing @thelearningpill @wauwda
𧡠@koinosnetwork π§΅
Thread about $KOIN a ZERO FEE Blockchain, language-agnostic platform that is modular and can evolve
Interested?
Let`s go!
@CryptoGirlNova @Altcoin_Gold @CryptoReviewing @thelearningpill @wauwda
@koinosnetwork @CryptoGirlNova @Altcoin_Gold @CryptoReviewing @thelearningpill @wauwda So I were multiple times stormed on my tweeter about $KOIN so this is the time when I actually dived deep into the project when I found a zero fee blockchain name!
This is what I found about the project:)
Let`s go!
This is what I found about the project:)
Let`s go!
Problems that @koinosnetwork wants to solve:
So the Koinos team knows that many blockchains like #ETH have to much fees and costs to use!
So they decided to make a free to use blockchain, that can scale and evolve when needed!
Something new, something cool!
So the Koinos team knows that many blockchains like #ETH have to much fees and costs to use!
So they decided to make a free to use blockchain, that can scale and evolve when needed!
Something new, something cool!
They use a cool Proof of Burn consensus mechanism that literally burns tokens to secure the network (if that ain`t cool thinking I don`t know what is!)
Similar to POW, Proof of Burn relies on miners burning coins to validate transactions. So like reverse engineering lol
Similar to POW, Proof of Burn relies on miners burning coins to validate transactions. So like reverse engineering lol
The POB eliminates the need for meaningless computational work like in POW that wastes enegry imo (yeah I am talking to you $BTC) Koinos blocks are produced faster and fee-less
So as I said Koinos is actually Free to Use for users and remove the pain of transaction fees like good old #ETH
And this is making efficient use of network resources without the high fees and basically a great entry level for less wealthy devs!
And this is making efficient use of network resources without the high fees and basically a great entry level for less wealthy devs!
They also use a verifiable random function VRF that is used in the consensus mechanism to get evengreater efficiency and consistency.
They are unique and great thought!
They are unique and great thought!
Koinos also offers a cool platform with awesome potential for aplications like:
- Supply chain management
- Voting systems
- Gaming platforms (especially with the zero fees for micro transactions)
- Social media
- #dApps
- payment systems with zero fees again
to name a few!
- Supply chain management
- Voting systems
- Gaming platforms (especially with the zero fees for micro transactions)
- Social media
- #dApps
- payment systems with zero fees again
to name a few!
Another awesome option is a Fork Less Upgradability!
So this actually huge! cuz you can evolve the blockchain simply by adding any possible behavior you want as a smart contract!
That is something big! I mean really big!
So this actually huge! cuz you can evolve the blockchain simply by adding any possible behavior you want as a smart contract!
That is something big! I mean really big!
So this blockchain is both upgradable and modular with infinite possibilities and a unique consensus and zero transaction fees, this is a mega combination of well thought and well made blockchain technology
@koinosnetwork uses a great feature called MANA
So every $KOIN token is born with 1 Mana that can be used anytime a user consumes network resources.
Mana is a unique feature of the $KOIN token and what is cool it recharges over time!
Like an cool diablo like RPG game:)
So every $KOIN token is born with 1 Mana that can be used anytime a user consumes network resources.
Mana is a unique feature of the $KOIN token and what is cool it recharges over time!
Like an cool diablo like RPG game:)
So MANA allows for the free transactions by simply making it a renewable resource!
So each transaction consumes MANA and then $KOIN is bonded, but after time, MANA rechareges and ubonds the $KOIN, so basically you pay transactions fees with time!
COOOOL!
So each transaction consumes MANA and then $KOIN is bonded, but after time, MANA rechareges and ubonds the $KOIN, so basically you pay transactions fees with time!
COOOOL!
It`s actually easy to build on Koinos cuz it supports multiple programming languages and this makes it more accessible for adoption and building!
The easier the entry is the more the adoption comes!
The easier the entry is the more the adoption comes!
last cool thing I will talk is their Flexible Token Supply that they can dynamically manage to balance between the inflation and deflation!, something actually not used by many projects that I reviewed!
The max supply of mineable $KOIN tokens is 100 million Initial target rate of new token creation is 2% but it can be changed with governance, the max supply is not that big atm about 22m is in circulation.
What I think about @koinosnetwork ?
I think it`s an awesome blockchain the MANA well thought, zero fees, modular, upgradable via smart contracts and sub 20m makes it a great undervalued project imo!
DYOR and check them out!
ALUCARD OUT!
I think it`s an awesome blockchain the MANA well thought, zero fees, modular, upgradable via smart contracts and sub 20m makes it a great undervalued project imo!
DYOR and check them out!
ALUCARD OUT!
β’ β’ β’
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