Cryptocurrency - Crypto-currencies may also be referred to as "digital currencies" or "virtual currencies". These currencies use complex encryption techniques to regulate the issuance and transfer of currency units. Unlike normal currencies, crypto-currencies are not issued by any government or banks.
Kobocoin is a digital currency and payment system similar to Bitcoin, with an African heritage. All nodes verify transactions in a public distributed ledger called the blockchain. The ledger uses its own unit of account, also called kobocoin(s).
The kobocoin blockchain is distributed, to independently verify the chain of ownership of each and every kobocoin amount. The wallet on your device is a node. It works to maintain the security and integrity of the blockchain along with all other nodes. There is no central database. This is the decentralized nature of the Kobocoin ecosystem.
In the Kobocoin ecosystem every person who holds a funded wallet (or a funded kobocoin address to be more precise) becomes a stakeholder. This entitles them to freshly minted kobocoins as a reward for helping maintain the integrity of the blockchain (10% per annum credited daily). Stakeholders are rewarded with freshly minted kobocoins until the full allocation is in circulation. From then on, all rewards will be based on the transaction fees generated within the ecosystem.
Kobocoin Currency Denominations
The kobocoin currency structure comprises of four denominations:
- - Kobocoin
- - Manilla
- - Cowrie
- - Mansa
The relationship between the denominations is as follows:
- 100 Mansa = 1 Cowrie
- 1000 Cowrie = 1 Manilla
- 1000 Manilla = 1 Kobocoin
For example, if the sum of 17.35924514 kobocoins is sent as payment to another person or organization, the sum is broken down as follows:
17.35924514 kobocoins becomes:
- 17 Kobocoin
- 359 Manilla
- 245 Cowrie
- 14 Mansa
Got it?
This is the digital equivalent of change in your pocket.
How To Get Kobocoins
Trade KOBO for BTC/LTC
on Cryptocurrency Exchanges
(experienced users only)
Why Use Kobocoins?
No Registration is Required. You are anonymous. Get your wallet, and get started.
Fast. Transactions are confirmed in under 2 minutes, globally.
Minimal Fees. Tx fees are optional for small amounts. 0.01 KOBO is recommended.
Secure. Advanced cryptographic hashing functions secure transactions.
Rewards. All funded wallets receive rewards of freshly minted kobocoins.