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1. Why we are using blockchain technology in our system?
That is because we have been always focused on the transparency and transparency of the stock market, from the beginning we designed our stock market as a product that stands out on the market. The time has come to explain what “hybridity” will look like on our stock exchange. Simply put – it is a combination of the advantages of centralized and decentralized exchanges.
But why is transparency so important for the stock market? First of all – we are an exchange that shares profits with the owners of our CCX token. We want our users to be sure that they receive a commission on every transaction that takes place on the stock exchange. Secondly, we want to be a legal, fully open to auditors exchange, whose funds are always visible and can be monitored by the entire society of crypto enthusiasts.
The best solution, in this case, seems to be full decentralization. Unfortunately – the current technical condition of most blockchains does not allow for quick transactions.
Our solution combines the advantages of centralized and non-centralized exchanges. To streamline transactions while ensuring full transparency for everyone, we’ve used the innovative “CoinCasso Blockchain” blockchain.
“CoinCasso Blockchain” means that every user can place a node and track the current status of the blockchain. In practice, this means that it is possible to supervise each transaction and simply calculate the profit. People with more funds will be able to mine blocks and receive mining rewards (in the form of part of the profit from the exchange commission).
2. The general characteristic of “CoinCasso Blockchain”
Blockchain is based on the “Authenticated Proof of Random” consensus algorithm – this means that each node indicated can extract blocks. At the time of implementation, 16 nodes will be active, of which 8 will belong to CoinCasso. The remaining 8 will be distributed among the holders of the largest number of CCX tokens.
The block contains information on transactions carried out on the stock exchange, commissions, deposits and withdrawals. Thanks to the blockchain transparency, you can easily calculate the current state of your wallet, adding all the blocks from the beginning.
In the “CoinCasso Blockchain” blockchain, the block will be mined every minute. It will contain all transactions that have been pre-approved by the Network. In the event of funds mismatches or problems with the stock market software, the block will be extracted, blocking operations on the accounts of users whose incompatibility has occurred.
In the absence of integrity, the node will automatically reject the block and block the node.
The reward for mining the block is part of the commission that belongs to the stock exchange. This means that every user who has a node can get additional funds in the form of cryptocurrencies (they come from the exchange commission).
3. Who can hold nodes?
Blockchain will be launched with 16 nodes – 8 of them will belong to CoinCasso. The remaining 8 will be distributed among the holders of the largest number of CCX tokens.
The right to own a node can be waived – in this case, it passes to the next owner.
4. The blockchain code
The blockchain code and daemon manual will be available on our Github.