Meteor Games: KONIOS PROJECT review

Introduction

Since November 2017, we have been developing and programming a platform for all crypto enthusiasts worldwide to enable them to enter the crypto world with cash. Easy access to the Konios platform requires only a smartphone and an Internet connection. The transaction is carried out based on an exchange principle developed in Switzerland, without the use of a bank or other intermediaries. The exchange takes place face-to-face (F2F) with another user of the platform. The transaction process is precisely structured and is subject to the highest security regulations. It is built up by the five security keys and the participants make the exchange with only four clicks on their smartphones.

In order to keep the transactions secure and the fees low, the own blockchain, which validates and registers all transactions and activities locally within the platform, is designed. It serves as a basis for the use of all cryptocurrencies without paying the respective chain fees. The Smart Contracts monitors and checks the transactions and all processes within the platform.

Active users of the platform will benefit from our reward system. This also increases the security of the platform and supports the worldwide acceptance of the exchange procedure. After each transaction, evaluations are given by the exchange partners. The evaluations give an insight into the professional behavior of the exchange partner. The reward and penalty parameters stored in the Smart-Contract sort incorrect behavior and reward the users for their positive contribution.

Konios

Konios has its headquarter and administration in the canton of Zug, Switzerland. The role of managing director and contact person is exercised by the co-founder Patrik Krasnic. In close cooperation with the lawyers of BÜHLMANN KOENIG & PARTNER AG, all regulatory obligations are fulfilled. The supporting bank also has its registered office in Switzerland and is subject to Swiss banking law.

The Konios team wants to be able to do this without any security concerns for everyone who wants to join the crypto community.

The Konios team establishes a platform that is equally used worldwide and connects people from all cultures, religions and ethnic groups to make the most valuable thing to the simplest thing.

Platform

Konios Economy

Most of the global population lacks a platform where you can participate in the world of crypto without a bank. This hurdle excludes a huge mass of people who actually wants join. The crypto community is known for its openness to newcomers. It supports you at the start and with countless videos and documents, it helps you to master the entry and dive in successfully.

Our transformation to decentralization not only enables direct communication between people, but also the technological connection of machines and means of payment. The numerous and still rapidly growing number of cryptocurrencies are strongly influenced positively in this adjustment. Access to the areas in which the underlying technology specializes can develop and establish itself independently of the Top 5. The Konios platform lays the foundation stone.

Transaction flow F2F

Step 1

A Konios platform user wants to exchange his cash for a currency of his choice. First, the user defines the FIAT exchange amount and selects the desired cryptocurrency. The filter function simplifies the search for the desired cryptocurrency.

A list of sellers, sorted by distance, is displayed according to the parameters. The exact position and identity of the sellers are never visible, only the distance and the respective ratings of the seller. Now the buyer is free to choose a person from the list. The user also has the option of displaying a map with the sellers instead of the list, whereby only the region where the seller is active is marked. A request will now be sent to the selected seller, which contains the parameters set by the buyer (currency, amount, date, time and place).

Step 2

The seller confirms the purchase request by clicking on his smartphone, taking all parameters into account. The seller's confirmation activates the Smart Contract. All previously defined parameters are now part of the Smart Contract. The agreed cryptocurrency amount is frozen by the decentralized smart contract until the two parties have met and completed the F2F transaction. The Smart-Contract is only fulfilled after the transaction has been successfully completed and the payment to the buyer is automatically released.

Step 3

From this step onwards, buyer and seller are sitting face to face.

User Identification - Mutual confirmation of presence by scanning a QR code.
Money Identification - The buyer presents the cash and counts it in front of the seller.
Transfer - Cash is handed over to the seller and confirmed by app on both sides.
Verification by the seller - Seller counts and checks the cash (incl. help tools for identifying counterfeit money) with subsequent confirmation on both sides.

From here on, the transaction is completed positively and the exchange partners can go their separate ways.

Payment - The Smart-Contract automatically triggers the transfer of the cryptocurrency to the buyer.

Regulation and money laundering

In consultation with FINMA (Financial Market Supervisory Authority of Switzerland), Konios will examine how the business activities of the Konios platform are to be classified and which regulatory measures need to be taken. As a preventive measure, Konios has already implemented measures relating to money laundering and user protection, which on the one hand make cyber-attacks considerably more difficult and on the other hand demonstrate a best-practice approach.

Platform User

The users are the heart of the platform. The value of an idea is determined by the interest of its users. The reward system integrated in the platform rewards users for their activities. For example, if the user has carried out a transaction, the experience with the exchange partner becomes valuable for the next exchange partner through the rating. The user contribution individually increases platform security. This contribution is also taken into account in the reward system.

In addition to the possibility for natural persons, Konios also offers verified companies the opportunity to participate in the Konios platform. The companies, i. e. the bodies authorized to sign, must be fully verified. With such F2F transactions, security steps can be omitted due to verification, and costs can be saved for the company. In addition, verified companies can act as a secure checkpoint for other F2F transactions and receive KON-Tokens as reimbursement.

Secondary income as validator

In addition to the electronic security steps in the course of a transaction, a further verification can be called in at the request of a user, this function is taken over by the validator. A real person verified by the Konios platform (complete verification) participates in the transactions. The validators have a lot of experience, can assess the situation and, in the interest of both parties, can also confirm very high transactions. The validation fee is to be paid directly on site by the buyer. The amount will vary depending on the transaction amount and the country in which the transaction will be executed. For example, approximately EUR 50.00 of costs for the validator are incurred for a transaction in Germany with an exchange volume of USD 30,000. The amount and currency depend on the country of residence.

Konios Wallet

One wallet - for all coins and all activities. Safe. Fast. Simple. The security of user portfolios is the focus of the development team. Thus, a diversified wallet structure was envisaged. On the one hand, access relevant information is secured in traditional form as well as in cooperation with other wallet providers and developers. The main characteristic is the individual attitude and the necessary resources for a possible serious attack.

Reward system

User reward

The ecosystem of Konios is designed in such a way that the platform develops its own dynamic of progress, which is forced by the reward system. The users not only receive a secure platform but are also rewarded for their loyalty and participation.

As described in the first part of this document, some KONs are retained, which are distributed directly to users during the initial phase. The users receive this number of KON unconditionally.

Total User Reward

Security and decentralization policies

The following guidelines are published over the entire Konios project, which reflect the central theme of the development process:

- All published functions, platforms (APP, desktop) and accesses will be adequately checked and confirmed.
- Wherever possible and within the framework of local laws, functions and automated processing steps are to be validated and confirmed locally.
- No general user data will be recorded which is not related to the respective platform and which are required for the execution of the function step.
- Neither party (external partners or freelancers) may have sole access to customer funds or sensitive data.
- Security specific development processes have to be implemented in stable and secure regions.
- Feedback and suggestions from the community should be collected in an information pool and integrated into the development process.

Fees

Reward, maintenance and further development of the Konios platform require additional income. In particular, in order to finance user rewards and close the eco-cycle, minimal transaction fees are charged for transactions within the Konios platform, which are borne equally by the buyer and seller. The following explanation is intended to reflect these costs transparently:

Konios Token

The Konios Token serves as an access point for using the platform. In order to gain access to an exchange, such as for F2F transactions, the corresponding number of KON-Tokens must be added to the Konios platform. Without this, no service on the Konios platform can be used. The integration of the KON Token into the Konios Blockchain is explained in detail in the "Technical Whitepaper". The "Technical Whitepaper" will be published in the course of May 2018.

Konios Blockchain

The detailed technical specifications for the structure, functions, handling and validation of the Konios Blockchain are specified in detail in the "Technical Whitepaper".

The Konios Blockchain serves Konios in the area of transaction validation, transaction data storage and Smart-Contract handling. In order to connect the multitude of tokens and coins on one platform and to transfer them quickly, securely and decentralized, the step to our own blockchain is indispensable. For the Konios users, who also transfer small amounts of money, the fees for the respective coins are way too high and therefore a large part of humanity is excluded from the crypto market. With the Konios Blockchain we want to not only handle these transactions quickly, but also settle small amounts with minimal fees.

TOKEN DETAIL