What is Coin(O) (CNO) Crypto Beginner’s Guide
Coino is a platform that allows platform users to make quick and easy payments to anyone in the world and charges very low transaction fees. Coino is a decentralized, peer to peer network and platform that uses blockchain technology to power its platform. A system of master nodes spread across the world confirms each individual transaction on the blockchain. Information is stored across a channel of master nodes, meaning that user information is far more protected against a security breach because information is spread across a vast network of computers instead of one, centralized server.
About Coin(O) (CNO)
The Coino blockchain is one of the fastest operating blockchain in existence. Each block is solved in 25 seconds after two confirmations. The speed of Coino’s blockchain allows transactions to be completed very fast. In almost all cases, transactions are completed in 50 seconds or less to any destination in the world. Conversely, Bitcoin transactions can take up to one hour to confirm, as can other major coins like Ethereum and Litecoin.
The biggest issue with delayed transaction times is that fees can become far more expensive and the value of the cryptocurrency being transferred can fluctuate.
Coino is also the first cryptocurrency and digital currency platform that will offer credit cards and prepaid debit cards. Users can fund their cards using their Coino digital wallet and use their Coino credit or debit card in any store that accepts major cards. The platform plans to partner with Mastercard.
The platform offers a free digital wallet. Coino offers both desktop and mobile compatible digital wallets where users can store their Coino coins. The platform also offers users free paper wallets.
On June 20, 2017, Coino’s blockchain transitioned to a hybrid Proof of Work and Proof of Stake concept. Previously Coino only used a Bitcoin based Proof of Work mining concept. Proof of Work allows users to mine Coino. Users provide their computers CPU and GPU power to the blockchain and receive free Coino. Coino’s blockchain also provides miners the ability to join mining pools.
Each block time is solved within 365 seconds and the Proof of Work concept uses an X11 algorithm. The block rewards were 8 Coino for the first 10,000 solved blocks. Block rewards will decrease by 50% every 10,000 blocks until the block reward is 0.125 Coino.
Users who store Coino is their Coino digital wallet receive 0.5% interest on their holdings. The minimum staking time is 30 days, and the maximum staking time is 90 days. These regulations help fight against inflation and ensure that users continue to spend and exchange Coino coins.
Users can acquire Coino either through mining or buying coins on exchanges. Two exchanges, NovaExchange and Cryptopia, currently offer Coino.
Coino’s platform also offers users discount gift cards. The platform has not yet released a Whitepaper. Coino limited its original circulation to 100,000,000 Coino in October 2016. Coino also offers regular promotions, and users can get free Coino by participating in faucets. One Coino is currently trading for 0.00000017 BTC. You currently can only buy Coino with BTC.