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15 insights on COSS Fire Swap (pre-ICO) ICO


Jul 09, 2017 Posted /  5981 Views


15 insights on COSS Fire Swap (pre-ICO) ICO

15 insights on COSS Fire Swap (pre-ICO) ICO:


Crypto-One-Stop-Solution (COSS) platform is a platform providing positions of online payment technologies and the position of cryptocurrencies in this developing market. With over 800 altcoins on the market, there is hardly a single cryptocurrency which does not suffer from usability or user adoption issues. Imperfections in the technical setting of these digital coins result in the loss of potential customers and merchants and low transaction volumes, affecting the market price of the coin accordingly. This problem of poor user adoption of cryptocurrencies can be resolved by means of a one-stop solution approach realized through a platform, that was designed specifically to inform and educate users about the variety of coins, helping them to make an informed choice, and providing multiple possibilities to use digital currency, all in the same place. This is what the COSS platform does.

Applancer lists 15 insights on the COSS Fire Swap ICO:

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1. What is COSS platform:


COSS stands for Crypto-One-Stop-Solution and represents a platform, which encompasses all features of a digital economic system based on cryptocurrency. The COSS system consists of a payment gateway / POS, an exchange, a merchant list, market cap rankings, a marketplace, an e-wallet, various coin facilities and a mobile platform. The COSS platform unifies all transactional aspects that are usually managed by means of FIAT money and offers multiple cryptocurrency-related services in one place. The list of potential features of the platform can be infinitely extended and will continue growing as the platform evolves.

2. The mission of COSS platform:


The main goal of COSS is to bring cryptocurrencies to the masses. What COSS aims to cater to its users is a complete experience of accessing the available cryptocurrency services and products in the same place. From the very first moment, a customer decides to use cryptocurrency he or she will be guided through the platform and its features.

3. COSS Ecolife:


Cryptocurrencies have all the prerequisites to becoming a viable replacement for FIAT money over the Internet, allowing millions of customers, including merchants, startups, businesses, charities, etc. as well as the unbanked individuals to gain access to the most technologically advanced payment methods. For this reason, at COSS they have designed the concept of Eco-Life, a borderless digital economic system suitable for cryptocurrency users. The Eco-Life is aimed at eliminating the challenges faced by the online payment industry.


4. Smart Contracts as a Service (SCaaS):


Smart Contracts as a Service (SCaaS) is a segment of COSS, which allows businesses to create and execute smart contracts within their system in order to simplify and automate their actions. SCaaS has the potential to become as popular as SaaS (Software as a Service) in terms of its adoption within businesses and has been predicted to advance the functionality within a wide range of industries. Smart contracts within COSS are offered as standardized templates to be signed on the blockchain for a small fee, enabling agreements between people, regardless of location.

5. Security:


The main priority of the COSS team is the Security of the system, ensuring the COSS users from any unwanted and fraudulent activities on their accounts by means of the advanced two-factor authentication and the end-to-end encryption processes. The Security sub-module can only be accessed after an additional password confirmation has been accomplished (for security reasons). This sub-module can be used to:
edit the user's phone number and the email address (only after the confirmation);
change the password;
activate/deactivate the two-factor authentication (2FA).

6. Deposit:


A user can deposit FIAT or digital currencies by pressing the buttons in the wallet bar inside the application. After pressing the Deposit button, he/she can select a FIAT or a crypto-currency he or she intends to deposit. If the user chooses to deposit a FIAT currency, he/she will be redirected to several payment options. The possible action flow will be based on the selected payment method. If a user opted for Bank
Transfer he/she will be taken to a page, on which the bank transfer details can be viewed and downloaded in the PDF format.


7. Wallet in COSS Platform:


Users can view all their balances in crypto and FIAT currencies through the wallet in the COSS platform. They can also choose to withdraw or to deposit funds. The currency exchange balances, which cannot be withdrawn are placed to the Exchange orders and are also displayed here. The COSS funds are kept in 3 different types of wallets: the hot wallets, the warm wallets, and the cold wallets. The main funds of COSS account holders are kept in the cold wallet, while the funds, which are expected to be actively used for transactions are kept in the warm wallet, thus preventing the loss of funds. The hot wallet is mainly used for deposits and the temporary storage.


8. COSS applications:


The principal COSS applications are:
(a) The Core Application consists of account management tools, the registration and the login processes, security procedures and the password reset mechanism.
(b) Payment gateway / POS, a merchant tool that helps merchants to integrate cryptocurrency payments into their webshops;
(c) Exchange supports the most tradable cryptocurrencies, allows COSS users to place orders, to trade and to swap the funds deposited on their COSS balances.

9. KYC/AML system:


A user can check his/her account status in the left section of the menu. The account status can be upgraded by completing the KYC levels. Each KYC level comes with different limits and requirements. Via the KYC mechanism, COSS verifies users before allowing them to access their accounts on the platform. To register a new account, the user needs to fill in the email address and his/her full name. The application will send a confirmation via e-mail, in which the user will be required to click on the confirmation link before he/she would be able to access the account.


10. Withdrawal:


Withdrawals from users' balances are enabled in both FIAT and CRYPTO currencies. Users can withdraw amounts of any currency (FIAT or CRYPTO) that they own. Withdrawals are processed differently depending on the currency that is being retrieved. Some of the withdrawals are automated
and some are manual. The automated withdrawals are enabled for users owning small amounts of crypto.


11. Merchant platform:


The merchant platform on COSS aims to bring together the cryptocurrency-friendly businesses and the potential clients, facilitating the communication between them for the mutual benefit. In this way, the COSS platform performs the role of a middleman in the massive cryptocurrency adoption, helping customers to spend and to acquire their digital coins all in one place.

12. Merchant Account:


A merchant's account is owned by the user who created it. This user automatically becomes the owner of this merchant account. The ownership status cannot be transferred to anyone else and is in the ultimate possession of rights on the merchant’s account. A merchant can select cryptocurrencies he/she would like to accept for each of the branches (e.g. shops, locations, businesses). Additionally, a merchant can add discount intervals for each cryptocurrency and set the maximum payment amounts.

13. COSS token:


COSS is a 100% self-funded project that did not rely on any external investments prior to and upon its launch. The new and very expansive curve of its development implies launching a token native to the platform that will provide investment opportunities to people who share the COSS vision and believe in the project's potential. The name of the token is COSS. The COSS token is a revenue-generating cryptocurrency, that enables owners to receive revenues in the form of transaction fees charged by the COSS system for cryptocurrency transactions.

14. COSS Token Swap (ICO):


The COSS token will be available for exchange during the Token Swap (ICO) campaign that will take place from August 8th to September 6th with 130,000,000 COSS tokens. During the Token Swap (ICO) the total of 200 million COSS tokens will be released. Its exchange rate will be released in July.

15. COSS FIRE SWAP (Pre-ICO):


The COSS FIRE SWAP or the PRe-ICO of the COSS tokens will be occurring from July 10th to July 13th. For the PRe-ICO, 25,000,000 COSS Tokens are available. The pre-sale is inviting strategic partners with a minimum buy-in of 50 ETH + 25% bonus COSS Tokens. The Fire Swap will last for 72 hours.


Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: coss ico coss pre ico coss ecolife SCaaS Coss security Coss Wallet Coss Merchant App

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