In the very start of its whitepaper, Corion reminds crypto enthusiasts about the true vision of Satoshi Nakamoto for Bitcoin: to gain mass adoption.
While Bitcoin and other blockchain projects continue to draw an audience by the means of its attractive long-term upward trend, they still lack the depth when it comes to making people understand about their core technology and framework. Sadly, the crypto market we observe today is driven by speculators. It is still far from a breakthrough adoption because people still have doubts. It is not easy for an average person or business to explore and integrate the use of cryptocurrencies.
Corion, perhaps, is among the only new digital currency startups which openly speaks about the issues, like negative publicity, bubble speculations, scams, and complicated user-interfaces, which hamper the mainstream adoption of digital currencies.
Corion pushes ahead the ideas that need heavy discussions in the crypto forums. The Zug-based digital currency platform, which is technically a digital currency ecosystem in itself, proposes logical and practical solutions for issues related to mainstream adoption, starting with volatility.
1 Corion = 1 USD
Can the demand and the supply of a cryptocurrency be controlled for good? Indeed.
By keeping a sharp focus on the volatility quotient, the Corion team proposes a solution which ensures stable means of payment and trade. An average merchant is likely to accept a cryptocurrency s/he can trust with stability. So, as a solution, Corion introduces a token of the same name whose value always form parity with 1 USD.
Corion formulates a mechanism to ensure this. In the event of inflation, the platform starts minting new Corion tokens at a maximum daily rate of 2.5%. And in the event of deflation, it stops minting the Corion token for a day. In addition, 80% of the transaction fees are burnt, and removed from the system.
Corion’s upcoming ICO of the Corion tokens also attributes 25% of the total coins to ensure the stability.
A Viable Blockchain Ecosystem
Corion’s philosophical approach gets a practical makeover in its blockchain-based ecosystem. The platform brings a suite of services qualified enough to rival the mainstream players, integrating everything from finance, payment, to trading features – all under one roof.
In its vast ecosystem, Corion encourages a marketplace to facilitate B2B and B2C commerce, a stable cryptocurrency (as discussed above), an investment growth model based on Schelling points, a multifunctional wallet, a secure P2P exchange, and more.
At the same time, Corion shows a deep understanding when it comes to security.
Overall, Corion appears to be an easy and interactive gateway even for those without a technical background. Nakamoto must be happy!
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