Using blockchain technology to facilitate the investment process into innovative businesses, The Coop Network is built by industry experts who understand the importance of decentralization in reaching the maximum potential of high-tech products. In bridging blockchain and off-chain business, the benefits range from increased transparency, security and process optimisation, to financial growth, social development and environmental support.
The Coop Network Blockchain is 100% Proof-of-Stake, 100% Eco-friendly and is a Fork of the first blockchain to rely entirely on a PoS distributed consensus algorithm under Jelurida License. The algorithm is not dependable on the token age concept and is not susceptible to the nothing-at-stake problem. In order to ensure both security and processing power, Curve25519 cryptography and SHA256 hashing algorithms are used.
Since launching in March 2021, The Coop Network mainnet reached the 700k blocks milestone with zero network malfunction or downtime, and is subject to ongoing development, with new products to be launched on the mainnet. Gas fees are as low as 1 GMD for most operations.
GMD is the native coin of The Coop Network and is based on a deflationary model. It’s also more decentralized, since there were no private sales, pre-sales or seed-sales prior to the public sale, as a measure against unfair players. GMD is used to interact with The Coop Network’s ecosystem and has several functions, from DeFi operations to e-commerce and more.
The Coop Network is based on the PoS model, where network security depends on peers staking their coins and running hallmarked nodes on the blockchain. PoS was developed to address some of the issues associated with PoW, such as high electricity consumption and centralization of mining power.
Unlike mining, in our blockchain we have “forging”. When a validator creates a new block, they are rewarded with GMD that’s redistributed from the network. Forging incentivizes validators to stay online and validate transactions, which keeps the network secure, decentralized and more scalable.
In a PoS, validators stake their tokens and run trusted nodes in order to validate transactions. Staking is like being rewarded for holding your money in a savings account. On The Coop Network that reward adds up to a high-yielding 26,25% APY.
In a decentralized network, nodes work together to maintain and develop the system. More hallmarked nodes means higher security and stability, that’s why we encourage our community to participate. The reward is a 15% APY in the first year, plus the monthly forged balances.
The Coop Network follows a number of fundamental principles in regards to security, a top-priority in PoS systems.
Blockchain technology is the ideal platform to manage a Cooperative in a secure and transparent way, creating a legal DAO.