(Not the same 'cosign' used in multisig) Transactions are confirmed individually as users randomly select each other to cosign their inputs. There are no fees, and there is no inflation because there is no blockchain, no blocks, and no coinbase transactions. It's fully decentralized, but there's no work or staking, so it has no measurable impact on the environment.

Before a sender publishes their transaction, they need to select a cosigner for each UTXO they're spending. Nobody can be trusted to select a cosigner at will, or they'll choose themselves or a friend, so they have to run a proof of randomness algorithm, PORA. The PORA selects a payment address at random from the pool of unconfirmed transactions. The owners of the selected addresses become the cosigners of the UTXOs being spent in the sender's transaction.

The outputs of a transaction can't be spent until the inputs are cosigned and each output address has been used to cosign an input in another transaction. Once the sender broadcasts their transaction, the first thing they want to do is cosign something, so they wait to be selected as a cosigner. Once selected, they have three options:

• cosign nothing
• cosign only one input, in one transaction, for the corresponding UTXO
• cosign every input they see

Options 1 and 3 are a waste of time for the cosigner because they won't unlock their outputs or aid in double spend attacks, which are obvious to everyone at that point.

Option 2 is the only option that unlocks their coins, protects their wealth, and secures the network.