Cryptocurrencies and Blockchain tech have slowly but steadily earned their place in many technological verticals and contributed to high-level disruption in these industries. However, when it comes to their day to day applications in real life, they are yet to realize their full potential. The barriers that are hindering the growth and use of cryptocurrencies are none other than their fundamental qualities that power them and make them unique. Their limited supply is a double edged sword – it inevitably drives up value which results in high volatility. This makes their use as means of payment questionable in the day to day life. Adding to volatility, the negative publicity garnered due to the hacking of exchanges, regulatory issues, and other scams has also contributed to the general public’s fear of taking a step towards using the crypto.
However, CORION is now here to bridge this gap and make cryptocurrency accessible to general public. Let’s dive deep into how CORION team is planning to do the same.
What is CORION?
CORION, which stands for ‘Capital Optimized Reward Incentive Online Network’, is a multifunctional platform that enables businesses and individuals with a mutual interest to connect over a worldwide decentralized network. This full-service multi functional blockchain platform was developed on Ethereum Classic blockchain and consists of several smart contracts that are apt for real world applications. The platform offers its own token- CORION coins which are to be used as the method of payment for services provided. These tokens are programmed to be stable against US dollar and hence eliminate the volatility worries associated with standard cryptocurrencies. Their supply is also demand based, and new coins are distributed amongst the community everyday basing on the demand.
The platform has a built in P2P exchange that allows for secure trading and exchange of digital assets, safeguarded from hackers and other security concerns. As all the volatility and security concerns are being annulled on CORION, it is indeed the right platform even for amateur users to indulge in cryptocurrencies.
CORION’s features and price stability
The platform was developed to address the user’s needs carefully and comprehensively establish a one stop solution for adopting cryptocurrencies in businesses. It is indeed an integrated marketplace that can host B2B, B2C, and P2P transactions executable through smart contracts. It’s built in P2P exchange, stable price token and unique daily rewards system are the apex features of the platform. The price of one CORION coin is to be maintained at 1 USD. If the price rises above $1 on exchanges, the system will release additional coins at a maximum daily rate of 2.5% to meet the demand. Alternatively, if the price drops below 1 USD, then 80% of the fees charged for the transactions are burnt and removed from the system piquing the value. The platform rewards its users for its activity levels, and the additional coins that are being pumped into the system will be distributed as per user activity.
The ICO launch and its details
The ICO for CORION commenced on 18th of June and will end on 27th of August 2017. With over 3 Million CORION tokens sold and $ 2.7 Million raised, the ICO is going very strong for a platform that derives its value through its utility and high user engagement. Premium Tokens are also available only during the ICO period. Upon purchasing 5,000 CORION coins, one Premium Token is issued, entitling the holder to enjoy the most promising ventures and gains of the CORION ecosystem. Through it’s easy to access and integrate approach, CORION is sure to impact a lot of ventures and make the usage of cryptocurrency more viable in years to come.