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Certificate Issuing System by Blockchain Network of Counos
Counos X, a cryptocurrency offered by the Counos Platform has many incredible features, such as being bankable. Though, in the next six months, Counos Platform is going to update Counos X’s roadmap. In this update, several advantageous features will be added to the Blockchain network of this cryptocurrency.
The certification system is one of the most significant features that will be added to the Blockchain network of Counos X. By using this certificate issuance system, CCXX Blockchain will be applicable for issuing various kinds of certificates like university degrees, customs documents, transportation documents, identification documents, and so on.
All kinds of certificates will be kept in a safe, independent, and private network with the possibility of a decentralized database or a distributed public ledger offered by the Blockchain network of Counos X. This network is one hundred percent tamper-proof as well. A certificate will be digitized and stored in the Blockchain of Counos X when it is issued and the platform that keeps the certification is completely safe, secure and totally transparent.
Therefore, as the Blockchain of Counos X includes the certification system, issuing and storing various kinds of documents in a completely transparent and tamper-proof platform will be possible. As the Blockchain network of CCXX is thoroughly decentralized, independent, and transparent, duplicating or faking the documents is practically impossible.
Various Stages of Counos Certificate System
A specific proof over the Blockchain network will be created with the help of Counos certificate issuance system for products, events, etc. There are four steps for this action as follows:
A public Blockchain (here CCXX Blockchain network that has public availability)
A Root certificate authority ( Counos Platform )
Proof of ownership by reading special data from public Blockchain using owner’s private key
Sale or transfer of the proof of ownership to new owner
Entire data regarding the certificate verification system will be stored and published over a public Blockchain network which uses normal CCXX transactions. This action contains certain rules with specific UTXO root. A new certificate issuance system will be issued by root certification authority for each special identity (such as main producer, event organizer, etc.), name, and the number of certificates that will be registered by some special CCXX transaction. The next step of issuing a certification to the new owner is possible by this transaction.
In order to verify the ownership based on Blockchain data and making the transference of this ownership to different individuals applicable, a special wallet can be employed. CCXX balance that can be beneficial in this situation will be supported by more normal CCXX balance to pay the transaction fee.
Some public data such as certificate subject and first issuer and date of the first issuance will be available on Counos explorer for certification validity. Counos explorer is a special explorer that makes reading hidden data on public transactions possible.
However, the certificate owner must have a special wallet to prove the ownership and provide the private key. The system will show additional details such as the previous owner and the date of issuing as the private key is accepted by the wallet.
All businesses, education systems, and other institutions and organizations that issue important records can benefit from Counos certificate issuance system. Public Blockchain also regulates the verification of such certifications.
As it was discussed, all types of certifications and documents can be issued, stored, and transferred using Counos X certificate issuance while the entire process is completely transparent and tamper-proof with the solution offered by Counos X Blockchain network and Counos X transactions.