On June 30, 2021, CoinEx Smart Chain (CSC) officially launched the mainnet after the testnet ran stably for one month, undoubtedly a milestone in CoinEx’s journey of going global. CSC is a smart chain created by the CoinEx public chain team following the principle of decentralization and permissionless block generation for decentralized finance (DeFi). It can provide developers with an efficient and low-cost on-chain environment to run decentralized smart contract applications (DApps) and store digital assets.
Developer-friendly and easy-to-use, CSC is a blockchain compatible with Ethereum. Its full compatibility with not only the EVM but also smart contracts on ETH, BSC, and HECO means that almost all DApps, ecosystem components and tools on Ethereum can be migrated to CSC directly or with only minor changes.
Integrating PoS (Proof of Stake) and PoA (Proof of Authority), CSC generates a block in seconds, and supports up to 101 block proposers; it boasts an extremely high TPS figure, while keeping transaction fees at a low level in the meantime. The PoS-based consensus is more environmentally friendly, and outruns the PoW-based consensus in the respect of performance (with less block generation time and higher transaction capacity). As a result, the PoS-based consensus can be flexibly managed by the community, without compromising decentralization.
Serving as a bridge linking users, assets and DApps together, CSC offers users and developers an efficient, low-cost on-chain experience, and removes all the complex thresholds for all developers, especially those new to DeFi. The PoS model it follows makes information 100% public and transparent, allowing users to stake coins as validators without any permission. Being open, fair, and transparent, the CSC mainnet aims to relieve the market sway to the largest extent in the short term, and build a sound and healthy DeFi ecosystem in the long run.
The launch of the CSC mainnet heralds the unmeasurable value of CET
After the CoinEx public chain team launched the testnet as well as the $10 million support plan in May, the official launch of the mainnet will significantly enhance the efficiency and application of CET, making it an indispensable part of the CSC ecosystem.
As a new blockchain underlying architecture integrating multi-layer chains and networks from the core chain to the application chain, the CSC mainnet has achieved innovative breakthroughs in hard issues such as throughput, cross-chain collaboration, trusted data exchange, and security, benefiting both developers and users with blockchain. Developers can deploy and create applications on CSC, creating infinite possibilities through DeFi; ordinary users can get involved in DeFi and explore projects on CSC. Their concerted efforts will contribute to an emerging ecosystem that provides a more efficient, massive, innovative on-chain space.
While ensuring the compatibility between Ethereum and its future upgraded versions, CSC will constantly enhance the throughput of the blockchain, make the blockchain client easier to use, improve the security of the custody services, and provide more versatile token-related cross-chain services. Meanwhile, enriching decentralized applications will be one of the developing directions of CoinEx in the future.
The strategic integration between CeFi and DeFi brings a bonus in tens of millions of dollars
The launch of the CSC mainnet also indicates the inevitable ecological integration between CoinEx in CeFi and DeFi. As CSC is working hard on ways of integrating the two, the threshold to DeFi will be lowered a lot for both developers and newcomers.
A $10 million ecological support plan has kicked off simultaneously to encourage more developers. Promising DeFi projects will receive a support fund of up to $100,000. The CSC Foundation will also provide the outstanding DeFi projects with resources in terms of capital, technology and marketing.
Risk statement: The CSC Foundation does not conduct any security audits on the projects, but can facilitate the cooperation between developers and certified security agencies to jointly safeguard the projects.
More projects are welcomed to apply for the CSC seed fund to create more DeFi applications and enjoy infinite possibilities on CSC.
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