Counos Coin is based on the Litecoin source code and operates within a completely independent network. The coin uses a SCRYPT-based algorithm which is similar to that of Litecoin. The proof of the Counos Coin functionality is created via “Proof-of-work” technology in the form of a peer-to-peer network.
The goal of Counos Coin is to provide the highest standards from a reliability perspective for financial transactions and payments worldwide. The unit can reportedly be used to purchase gold from sellers online. In addition, the users are reportedly able to purchase and receive Counos Coin from the community, agencies, or exchange services.