Latest Koinos updates on February 22nd

Koinos Network is a cryptocurrency project aiming at providing an innovative blockchain-as-a-service platform that is free to use. On February 22nd, the project wished luck to one user, on February 21st, it welcomed another one. On February 20th, it highlighted that users don’t have to pay to mint Non-Fungible Tokens (NFTs) on Koinos, and that the blockchain is decentralized and completely free to use. On February 19th, it shared that one Ethereum account could have saved $1.28 million on gas fees if they had used Koinos. Furthermore, Koinos users don’t have to pay any fees when minting NFTs. On February 18th, the Transex NFT collection was announced to arrive on KollectionMkt, also hosted on Koinos. Koinos also introduced a new algorithm, proof-of-burn, which solves the problems of PoW and PoS. All in all, Koinos is a free, decentralized and innovative blockchain-as-a-service platform that users can trust for their transactions.

What is Koinos ?

Koinos is an open source, decentralized blockchain platform that is focused on providing developers with the tools they need to create, deploy, and operate their own distributed applications (dApps). It has been designed from the ground up to be infinitely upgradeable, easy to use, and free to use. The Koinos platform is powered by a new, innovative consensus mechanism called Proof-of-Burn, which is designed to be highly efficient, decentralized, and provably egalitarian.

Koinos is built on top of two main components: the Koinos Framework and the Koinos Kernel. The Koinos Framework is a collection of tools, libraries, and middleware that make it easy for developers to create and customize their own dApps. The Koinos Kernel is the core of the platform, providing the underlying infrastructure and consensus mechanism for the entire platform.

Koinos has been designed to be free-to-use, meaning that developers don’t have to pay any fees in order to create and run their dApps. Instead, it uses a new system called Mana, which is designed to reward developers for developing, running, and maintaining their applications on the platform. Mana rewards are distributed in a provably fair manner, and can be used to purchase services and resources on the platform.

Koinos is built on top of TypeScript and C++, and is designed to be compatible with any language that can be compiled to TypeScript or C++. This makes it easy for developers to write and deploy their own applications on the platform.

Koinos also features a unique new feature called forkless upgrades, which allow the platform to be upgraded without requiring any hard forks. Hard forks are disruptive, time-consuming, and expensive, so Koinos’ forkless upgrades are a major advantage over other blockchain platforms.

Koinos also features a native cryptocurrency, called KOIN, which is used to facilitate transactions on the platform. KOIN is inflationary and deflationary, and is designed to be highly efficient and secure.

Koinos is the first of its kind, and is poised to revolutionize the blockchain industry by providing developers with the tools and infrastructure they need to create and deploy their own dApps in a free, secure, and infinitely upgradeable environment.

This article was published on 2023-01-29 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.