Coinone (CEO Cha Myung-hoon), a South Korean cryptocurrency exchange, announced that it has started a service called ‘Coinone Node’ that guarantees profits for nodes.
Coinone Node is a service where Coinone is entrusted with operation of particular cryptocurrency nodes and returns profit back to a member that owns corresponding cryptocurrencies. Compensation from operation of nodes is paid to participants of network.
Members of Coinone are able to participate in PoS (Proof of Stake) process automatically just by having Coinone possess their cryptocurrencies through Coinone Node.
Coinone is going to form and operate a team that is composed of top experts in this industry to operate Coinone Node in a stable manner. Compensations from Coinone Node are distributed fairly and transparently back to members and detailed procedure and standards can be seen through Coinone Node’s page.
First cryptocurrency that will be applicable to Coinone Node service will be ‘Tezos (XTZ)’, which is a third-generation protocol blockchain based on DPoS (Delegated Proof of Stake) method. It creates blocks through a mining process called Baking.
Operation of Tezos nodes will start on the 22nd and members who have more than 1 XTZ in Coinone’s wallet will be compensated corresponding to how many coins they have. Profit will be accumulated starting from the 25th and members are able to retrieve profits in the afternoon of the 5th of November.
Staff Reporter Gil, Jaeshik | osolgil@etnews.com