The primary focus of the ColossusCoinXT is to make digital currency use more ecofriendly. Many currencies have been associated with high energy use, thus causing them to be linked to environmental damage. The ColossusCoinXT is an attempt to reverse this trend. The ColossusCoin was launched in 2013, and is therefore one of the established digital currencies for investors. At the end of 2017, the ColossusCoin was moved to another fork, and the old ColossusCoin tokens, called CV2, were exchanged for the new tokens called COLX. The CV2 coins were burned.
Being one of the early established coins, the ColossusCoinXT has been around in some form since 2013. The move to a new fork signals the determination of the promoters to keep the coin alive and in good shape. While the major focus is on green currency, the ColossusCoinXT is also a good investment tool. It is ideal for online transactions where users want to pay for products purchased using digital currency. The goal is to exchange the CV2 tokens for COLX tokens and to maintain the pool at 12 billion tokens. There are many methods for earning user rewards.
It is expected that by end of 2017, users would have exchanged their CV2 tokens fir the COLX, and further exchange is now closed. Users may also purchase the tokens from exchanges. The currency offers fast transactions, due to the Swift feature, and also offers discreet transfers, which is powered by Private Instant Verification. The ColossusCoinXT offers the best rewards in terms of proof of stake, so even for holding coins in your wallet, you earn a reward. This deters oversupply of the coins and helps maintain the coin value. Users can even turn their computer into masternodes and mine more coins, thus earning more rewards. A seesaw mechanism is used for distributing rewards for staking and mining.
Staking the currency will earn users 1000 COLX tokens are reward in total, or 5% interest for individual users. The coin needs to be held for at least 7 days prior to staking, but can be staked for the long term. Miners can earn 2500 tokens on each block, while masternodes can take in 10 million tokens. The transactions are private since they are encrypted, and thus, not accessible to third parties. The wallet is compatible with Mac, Windows, and Linux OS. The rapid transactions, low fee of 10 tokens, privacy and low energy use, make the ColossusCoinXT the cryptocurrency of the future.
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