An Overview of Crypto Venture, Karbo
For those not aware of a Cryptonote fork, I'll have you know about Ukraine's venture Karbo. Formerly, Karbovanets the platform is freeware and decentralized crypto that is set to offer private transactions to its users.
The platform plans to do this through their Karbo utility token, KRB. Each user will also get a wallet from where he or she can transact his KRB. The token will use a unique formula to protect it against a massive number of hashrate attacks experienced on mining pools.
Through this, the crypto mining wallet will help protect the investors mining activities and consequently the whole Karbo ecosystem.
Features of Karbo
An open feature of Karbo is the anonymity. Unlike other blockchain, Karbo's cannot let users analyze or track other wallet addresses or transactions. The network and sales will use a proof of work mechanism to shield the blockchain's activities.
Additionally, the platform works on a centralized system with no need for third-party intermediaries and institutions. All this works on a particular algorithm without any controlling body.
Lastly, the Karbo wallet comes for free with no account or transaction fee. The app is free to every user to transact on.
The Karbo Mining
The mining setup is a bit complex and will require much patience. You will need to get the official mining software from Karbo website. That is especially for the solo mining clients who will need a command line. You will also need a Karbo wallet to receive your tokens.
From there you can pick your mining pool and setup your miner to start earning you KRB. Each miner is capable of configuring itself, and you can check your wallets on the main page of the pool.
Why Is Karbo KRB Unique?
Karbo is unlike most blockchain ventures, probably more like Monero. That similarity to Monero gives the token a high level of fungibility. For those who are unaware fungibility will not allow the blacklisting of any coins.
Additionally, the platform has a unique anonymity mechanism thanks to Cryptonote technology. Users can conduct transactions in an anonymous payment scheme. The payments are untraceable and unlinkable, so other users cannot cross-link the deals. The technology also allows the platform to have a double-spending proof mechanism. No use will send money twice as each operation will require a digital signature to make a trade possible.
The fees for transactions are also cheap compared to other wallets. At a price of under a dollar, the charges will be of little concern to most KRB users to traders since it is easily affordable.
Bottom Line on Karbo KRB ICO
Crypto miners with wallets are becoming a hot trend in the blockchain world. That is why Karbo has had a good run in much of Ukraine. The firm is working with several enterprises to begin using KRB.
However, this is no guarantee that KRB will be a success in the future. Much of this depends on the number of KRB investors and with little hype in the blockchain community; the platform seems like a Ukrainian affair.