On June 30, 2021, CoinEx Smart Chain (CSC) officially launched its mainnet, after the testnet ran stable for one month. SC is a smart chain created by the CoinEx public chain team. It provides 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, 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.
Moreover, a 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.
Aiming to serve 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.
CSC mainnet and the 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 native asset CET, designed to be 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 breakthroughs in difficult issues such as throughput, cross-chain collaboration, trusted data exchange, and security, benefiting both developers and users of the blockchain.
Plans following a successful launch
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 the decentralized application ecosystem will be one of the focused objectives of CoinEx.
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.
More projects are welcomed to apply for the CSC seed fund to create more DeFi applications on CSC.