Like we already know, that the advancement of technology also brings us to the new invention of blockchain technology that will become one of the most important parts of cryptocurrency world right now. The progress of blockchain technology world also getting better and better every day. Improvements and innovations continue to be done by many stakeholders in the crypto world in order to achieve the latest and most reliable technology for the users.
Introducing Konios Platform
Like what has been said before improvements and innovations are continue to be done by many stakeholders in the crypto world in order to achieve the latest and most reliable technology for all users, and so does with Konios company. The company have the mission of providing a platform that has the easiest access to the crypto community.
In a simple way, Konios is formed of the platform that will give the easiness to all users who want to enter the crypto world with cash. This easy accessing of Konios can be seen through its simple requirements of Konios. Konios platform only need a smartphone and an internet connection to make transactions within its platform.
Because of Konios is made up of Switzerland, all the transactions that happen inside Konios platform are carried out based on exchange principle in Switzerland, without using the role of the bank or the other intermediaries. Konios will also be given the features of Smart Contract that will monitoring and checking all the transactions and all processes within Konios’s Platform.
Konios’s Mechanism Flow
The mechanism of Konios is quite simple. All user that want to exchange their cash for a currency only needs a smartphone and an internet connection to make transactions. First, the users have to download the Konios app, and they have to define the FIAT exchange amount and selecting their cryptocurrency. To simplifies this process, in this part Konios platform is enabling the filter features.
There will be displaying the list of sellers that are sorted by a distance according to the parameters. The users also are given the chance to displaying a map with the sellers instead of the list whereby only the region where the seller is active is marked.
Second, after selecting the cryptocurrency based on their desired, the seller will be confirming the purchase request by the buyers by clicking on their smartphone and taking all the parameters into their account. This confirmation also automatically activating the Smart contract. And all previously defining parameters are part of the Smart contract right now. The agreed cryptocurrency amount is freezing by the decentralized smart contract until the two parties have met and completed the third step of the transactions.
In the third step of the mechanism, buyer and seller are sitting face to face. In this part, they will be doing the mutual confirmation of presence by scanning a QR code. After that, the buyer will present their cash and be counting it in front of the seller. After receiving the cash, the two parties will be confirming the transactions through their app. After that, the seller will be verifying the transfer from the buyer and from here, the transactions are already complete and exchange partners can go separately.
To complete the transactions, the smart contract automatically triggers the transfer of the cryptocurrency to the buyer. And the buyer will give the feedback to the seller through the rating.
Koinos Token
Like other platforms in cryptocurrencies world, Koinos platform also needs the role of token that will be used to transacting within its platform. The token of Koinos platform can be known as KON tokens. The ICO of the token will be started on 1 May 2018 and will have the duration of 60 days. The total supply of the token is 3.750.000.000 KON. The activation of the token will start exactly on the Independence day of Switzerland.
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Author:
Ashadiya_
ETH Address: 0xf6C481e9bf059DB0a38b876Ab893D11e31C338E3