- Kobocoin is a cryptocurrency and payment system similar to Bitcoin in the African market.
- It runs a proof of stake mechanism, meaning users stake their own coins to verify transactions.
- The unit of account is called the Kobocoin.
- The Kobocoin currency has four denominations: the Kobocoin, the Manilla, the Cowrie and the Mansa.
- 1 Cowrie is worth 100 Mansa, 1 Manilla is worth 1000 Cowrie and 1 Kobocoin is worth 1000 Manilla.
- Every person who owns Kobocoins becomes a stakeholder and is therefore entitled to new Kobocoins as a reward.
- Kobocoin transactions are almost instantaneous worldwide.
- Transactions are anonymous and secure due to the advanced encryption that is used.
- Transaction fees are much lower than when using traditional payment methods.
- Payments are secure due to geographically dispersed DNS Seeders.
How to use
- Consumers can either download a mobile wallet through Googly play, Amazon and BlackBerry World or a desktop app on Windows or Mac.
- No registration is required.