The Koin Blockchain is a groundbreaking layer 1 blockchain that stands out for its true decentralization and free-to-use nature. Here are some key aspects:
Decentralization and Accessibility:
Koinos aims to make the world more open, transparent, and fair by accelerating decentralization through accessibility.
Unlike many other blockchains, Koinos is both truly decentralized and truly free-to-use.
Innovative Features:
Mana System: Koinos employs an innovative “Mana system.” Every $KOIN token contains the Mana property, which allows the blockchain to automatically manage its resources. Think of it like gas, but without any loss of tokens.
Free Transactions: Transactions on Koinos are always free. Whether you’re creating an NFT, transferring a token, or launching your own cryptocurrency, there’s no mental burden—just seamless usage.
Shared Mana: Token holders can cover the Mana cost for any user they wish, enabling a remarkable user experience called “tokenless access.” Even ordinary users can interact with the blockchain without acquiring tokens.
That makes it like the Hive Blockchain, Hive is very powerful in Social. Koin is made for Smart contracts and Token creation. So both are beasts.
Proof-of-Burn (PoB):
Koinos utilizes a novel consensus algorithm called Proof-of-Burn. It combines decentralization comparable to PoW (Proof-of-Work) with efficiency equal to or greater than PoS (Proof-of-Stake)
People can Burn their coin and get burned Koin Tokens to earn some yield on it. It is currently around 6%. So it is like mining in some way. The burned koin works in pools. It is an interesting concept.
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The Koinos Community:
Koinos thrive under the stewardship of its dedicated community. It was built by the former developers of the Steem blockchain, a previous top 5 blockchain by market cap.
After Steemit Inc. was acquired by Tron, the core team resigned and set out to solve the problem of blockchain decentralization and accessibility.
How to Use Koinos?
Mana and Free Transactions:
If you hold $KOIN directly or receive Mana through sharing, you can seamlessly access dApps and enjoy free transactions forever.
Mana recharges over time (maximum of 5 days), making it akin to a rechargeable battery.
No Mental Burden:
Whether you’re a developer creating smart contracts or an everyday user, Koinos ensures that transactions are always free.
No need to worry about transaction fees—you can focus on building and interacting.
Free smart contracts can become a really interesting thing.
Universal Language Support:
Koinos supports universal languages, ensuring rapid upgrades to the latest technology.
Its microservice architecture allows developers to build custom microservices in major programming languages.
How to create a Koin Wallet:
3 Wallets are used.
The Kondor wallet is a Browser extension like Metamask or Phantom Wallet. It is available for Firefox and Chromium browsers like Brave and Chrome.
Social: https://twitter.com/kondorwallet
Github: https://github.com/joticajulian/kondor
The Koinio wallet is a mobile wallet for smartphones. Available for OS and Android. It can show NFts and Tokens besides the Koin Token.
Website: https://konio.io/
Github: https://github.com/konio-io/konio-mobile
Twitter: https://twitter.com/konio_io
To make a Wallet it is pretty easy. Download one of those Wallets, Make a Wallet, and write down the recovery phrase. Thats it.
And I repeat, write down the recovery phrase, this is the only way you can recover a wallet.
The CLI wallet is for developers that can do things with commands, TBH I have no idea how it works.
Dapps on Koin
There are some like KoinDX, and some uniswap like Dex.
Kap.domains, A name service to give Wallets a name. To explain it, for Hive users, on other Chains wallets are not "human readable" and are a combination of signs. Kap domains allow to buy a username. Like Ethereum Name service on Ethereum.
And Koincity is a Launchpad to create Tokens on Koin in an easy way.
There are a lot more Dapps, they can be found at https://koinos.io/
In summary, Koinos combines decentralization, accessibility, and innovative features to create a blockchain that truly empowers its users. The Concept of the Koin Blockchain is very interesting and has a lot of similarities to Hive.
I think both Koin and Hive can become the future backbones of web3 or web5 :)
Websites:
https://koinos.io/