Convert Locus Chain LOCUS to Koinos KOIN

"What Is LOCUS CHAIN (LOCUS)? Locus Chain aims to be the most widely used Next Generation Layer 1 Public Blockchain Protocol, which achieves both full decentralization and scalability simultaneously. As a decentralized scalable layer 1 chain based on patented technologies, Locus Chain aims to support various Defi, GameFi, Metaverse, Smart City, CBDC(Central Bank Digital Currency) projects by being the most reliable, secure, low cost and high performance layer 1 public blockchain platform. Locus Chain claims to be the first decentralized Layer 1 public blockchain to ever solve the blockchain trilemma of Decentralization. Scalability and Security. LOCUS token? The current Locus token type before the mainnet is an Ethereum-based ERC20 token with smart contract issued by Locus Chain Foundation. However, given that the tokens on the public Ethereum network cannot be used on the Locus Chain directly, we will be making use of hashed time-locked contracts to allow 1-to-1 atomic swaps of Locus tokens from Ethereum to the Locus Chain mainnet. LOCUS will be the main cryptocurrency required for all the operations of the Locus Chain network and all of its applications. LOCUS is a payment method for the entire network economy. Tokens are used by validators (who can easily participate), developers, and users to participate in the LOCUS network and receive rewards. It is also used to for fees and to participate in future governance. LOCUS Ecosystem Top developers and high profile business partners are participating in the development of Locus Chain one after another. High-performance Layer 1 blockchain can create various business opportunities in sectors including decentralized finance, real estate transaction platforms, and game money, etc as well as creating various other tokens. In addition, Locus Chain allows the users to use the blockchain verification service through a simple linkage without building a separate blockchain. Since it is a high-performance public blockchain platform, technology licensing will be carried out in the future in the areas of CBDC and IOT, including smart cities, smart factories, and smart grids based on vast amounts of data. Special technology of LOCUS *DAG(Directed Acyclic Graph) - AWTC(Account-Wise Transaction Chain) The AWTC, Account-Wise-Transaction-Chain, is a central data structure for Locus Chain's high capacity, distributed transaction processing. AWTC is a Directed-Acyclic-Graph (DAG) based data structure composed of multiple transaction chains, each for an account. Each account has its dedicated chain. A new transaction issued by an account is primarily added to the account's chain. Block grid structures, including DAG-AWTC, do not cause conflicts because there are as many points as the number of accounts to which the transaction is added, and only the owning account can record it exclusively. Also, the account that added the transaction becomes clear, so if the account holder himself is not a malicious user, the transaction is almost confirmed as soon as it is added. The ledger structure of the Locus Chain is one of the main technical features to fundamentally solve the problem of delayed transaction processing that the existing blockchains had. POS - BFT Consensus Algorithm Given the time required for the data to propagate sufficiently to the network, the Locus Chain first implemented a BFT definitive consensus on the DAG by attempting to consent on a small amount of historical points of time. It also selects a new proposer committee that participates in the consensus algorithm every round by a random verifiable function (VRF) based on stochastic PoS (proof of stake: the more shares, the higher the probability of being elected as a committee). Since these methods cannot identify or predict the nodes (proposer, validator) to participate in the consensus, manipulation by malicious attacks is difficult, ensuring fairness and network stability of the consensus results. *Verifiable Pruning Unlike traditional pruning, which reduces the size of a ledger by simply deleting old data to address growing ledger sizes, Locus Chain's Verifiable Pruninng uses a Skewed Merkle Tree structure to validate the legitimacy of the data even when most of the previous data is deleted in the local environment. Verifiable pruning deletes outdated data on the ledger while still being able to provide full data verification by verifying previous data with hash values. *Dynamic Sharding Locus Chain has a ledger structure formed of each account (AWTC), making it easy to adjust the number and size of the shard, and the validator ratio by relocating the shard in the event of an imbalance between shards. With dynamic sharding, the network usage that a node has to cover is reduced to 2/N when the number of shards is N. The total network TPS for network usage on the same node will increase by that amount, plus the additional ledger state sharding, which will also divide the storage usage by the number of shards. LOCUS’S creators The key development members of the Locus Chain were developers of the Blueside Engine, Korea's first commercial game engine. The core of Locus Chain technology is to effectively process and synchronize large amounts of network traffic. The developers of Blueside Engine have acquired 18 software development related intellectual property rights, which are the product of the technology accumulated through console/online games and software development over the past 20 years, and hold 2 other software patents."

What is Koinos (KOIN)? Koinos is a developer centric open source project that leverages blockchain technology to provide a robust smart contract platform where holders have ownership over the network. Originally conceived in 2020, Koinos was officially launched November 5th, 2022 by Koinos Group, a US company. To learn more about this project, check out koinos.io. Unlike other blockchains, on Koinos holding $KOIN gives you the right to utilize a portion of the network without sacrificing your cryptocurrency to transaction fees. Rather than paying a transaction fee, your $KOIN is temporarily locked and gradually unlocked over time. This mechanism is referred to as mana because it mimics the user experience of a video game. You can learn more about mana on the official documentation. The Koinos protocol is designed to facilitate decentralized app (DApp) creation and it aims to improve decentralization by introducing a Proof-of-Burn (PoB) consensus algorithm. Learn more about Proof-of-Burn on the official documentation. Because of its innovative resource management, Koinos enjoys interest from Web3 enthusiasts seeking the next generation of blockchain user experience (UX). A significant focus for the Koinos network is to bring a Web 2.0 experience to Web3. What makes Koinos unique? The Koinos blockchain has several features that differentiate it from other smart contract platforms. These include forkless upgrades, the mana system, smart wallet support and the Proof-of-Burn consensus algorithm. Because the core business logic of Koinos is implemented via smart contracts, core functionality can be upgraded without the use of hard forks. While hard forks may be necessary to fix critical bugs or improve performance, many enhancements can be achieved simply through replacing smart contracts and a vote in governance. This allows Koinos to evolve at a more rapid rate than other blockchains. You can learn more about forkless upgrades and the governance system on the official documentation overview. Koinos handles resources differently than other blockchains. Holding $KOIN grants access to a portion of the network. While most other blockchains have transaction fees, Koinos allows the user to pay in time. The more $KOIN the user holds, the more network the user has access to and the faster their mana pool regenerates. Learn more about mana on the official documentation overview. On Koinos there is no difference between an account and a smart contract. Every account can also have a smart contract associated with it. Because an account is no different than a smart contract, account abstraction is baked into the protocol. It is no longer necessary to work solely with a private/public key pairing. Instead, Koinos features a turing complete authority system which allows for unlimited possibilities of smart contract upgrades, transaction payment handling, and contract calls. Learn more about authorities on the official documentation for developers. The Proof-of-Burn (PoB) consensus is not well known but offers a variety of advantages of the traditional Proof-of-Stake (PoS) and Proof-of-Work (PoW) algorithms. Miners are virtualized on-chain leveling the playing field no matter the electricity costs of your local jurisdiction. This promotes decentralization as mining operations do not need to consolidate around locales with economic electricity costs. In addition, Proof-of-Burn solves the issue of consolidating stake on Centralized Exchanges (CEX) because the cryptocurrency must be burned in order to produce blocks or affect governance. Learn more about the novel Proof-of-Burn implementation on the official documentation overview. How many $KOIN are in circulation? Koinos was completely fair-launched, just like Bitcoin. It was originally Proof-of-Work mined into existence on the Ethereum blockchain in order to bootstrap the initial supply. Over the course of a year, approximately 100 million $KOIN were mined and used to establish the initial balances of the blockchain upon launch. After the mainnet launch on November 5th, 2022 the chain was in-band upgraded from federated to Proof-of-Burn and $KOIN was burnt in exchange for virtual hashpower to secure the network. Because $KOIN is constantly being burned in order to secure the network, the supply is dynamic so you should check popular block explorers like Koiner for precise numbers. The supply can be most simply described as 100 million with 2% inflation annually and target burn of 50%. This is an oversimplification but you can learn more about the tokenomics on the official documentation overview. How is the Koinos network secured? The Koinos network is secured through the innovative Proof-of-Burn (PoB) consensus algorithm. Block producers burn their $KOIN and receive Virtual Hash Power (VHP) in return. This can be thought of exactly like hash power on Proof-of-Work (PoW) chains. The more hash power you have, the more likely you are to produce a valid block. It’s as simple as that. The details of the implementation can be found by reading the Proof-of-Burn on the official documentation architecture section.