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Koinos (KOIN) is the 1933rd largest cryptocurrency in the world by market cap, valued at $9,740,326. The current price of Koinos is $0.045041912403389, which is -0.605% lower than yesterday. Prices have ranged between $0.447903 and $0.361053 over the past 24 hours. All prices are listed in US dollars and accurate as of March 27, 2023 06:03 UTC.
Koinos is a blockchain platform leveraging the unique Proof-of-Burn technology to secure its network. The developers claim that PoB combats issues with alternative consensus mechanisms – superior decentralisation to Proof-of-Work, and greater efficiency than Proof-of-Stake.
Proof-of-Burn works similarly to proof-of-work, but instead of miners solving complex algorithms, miners are able to verify transactions by burning coins. This supposedly improves decentralisation, and is far more environmentally sustainable than PoW alternatives.
Beyond its unique consensus mechanism, Koinos offers enterprises, businesses and tech developers the ability to quickly and efficiently build new blockchains from the ground up. A key element of Koinos is its fee-less structure – users can create accounts, smart contrats and transfer crypto for free using the network’s architecture.
KOIN is the native utility token for the Koinos network and primarily operates as a medium of exchange.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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