Koinos is a blockchain framework made to be accessible and user-friendly. The Koinos blockchain enables faster and easy to launch high-performance applications with no extra fees. As per the whitepaper, the platform aims to fasten the transition to a truly decentralized future by maximizing blockchain accessibility. The Koinos Blockchain Framework (KBF) facilitates developers to create free-to-use decentralized applications (Dapps) using any universal programming language.

Further, the network brings a new concept known as mana, which aims to enable token holders to perform fee-less transactions and execute fee-less smart contracts without affecting a user’s token balance. The platform applies a certain amount of mana on every token of Koin, the native token of Koinos. The proportional mana is consumed when a user consumes network resources. So, whenever a user submits a Koin transaction, they already have mana that can be consumed down. The user would still have to incur some cost based on the cost of the network resources being consumed; thus, once any of the mana in a given token is consumed, that token would be locked for a period of time. Therefore, an opportunity cost is created in contrast to the real-time monetary cost that disincentivises the submission of value-less transactions. The lock-in period of a Koin token is specified within the mana smart contract. Further, the lock-in time also allows mana to regenerate automatically. Thus, if all of a user’s mana gets consumed, they will have to wait to perform more fee-less transactions without purchasing additional tokens.

The core team of Koinos comprises five members. Andrew Levine serves as the CEO; he is a graduate from JD Villanova School of Law and has blockchain experience of six years. Michael Vandeberg, a blockchain architect, has seven years of blockchain experience. Other team members are Steve Gerbino, Nathaniel Caldwell, and Ron Hamenahem.

NO initial coin offering (ICO) was held for the token.