Coinex Smart Chain: The story so far and the future ahead

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Coinex Smart Chain: The story so far and the future ahead

Though CoinEx Smart Chain may be a relatively new blockchain, it has achieved more milestones than those that have been around for a longer time. This article analyzes some of the achievements of CoinEx Smart Chain.

• Ecosystem support

CoinEx Smart Chain Foundation created a support fund that is worth ten million dollars to offer projects that are building on this chain. With the funds, developers can have access to financial facilities to develop decentralized apps including DeFi protocols and NFT platforms on CSC.

As part of the ecosystem support, they can also have access to media promotion for their project on CSC’s social media platforms. If they need help listing their native tokens on exchanges, the team can also help.

• CoinEx Smart Chain mainnet and blockchain explorer.

In the past, CoinEx Smart Chain had been able to release its mainnet, allowing developers to build their Decentralized apps on the chain. Apart from the aforementioned, it is easy to track transactional details on CoinEx Smart Chain using the blockchain explorer.

The explorer also allows users to check CRC721 NFT tokens, verify contracts, and provide various data summary statistics on the chain.

• Cross-chain bridge

On CoinEx Smart Chain, users can have access to a cross-chain bridge to move tokens and other products from CoinEx Smart Chain to Ethereum and Binance Smart Chain and vice versa.

• Airdrops

CoinEx Smart Chain had organized multiple airdrop events where the native token, FET was dropped to community members.

• Partnerships

CoinEx Smart Chain has entered into strategic partnerships with some other leaders in the blockchain space to improve the user experience of community members.

• Hackathon

CoinEx Smart Chain has held a Global Hackathon where grants were given to a number of projects.

• AMAs

To ensure that community members are intimated with what is happening in the ecosystem, CSC has held AMAs regularly.

• Large number of teams building on CSC

CoinEx Smart Chain has a wide array of teams that are building different types of Decentralized apps on CSC like NFT platforms, DeFi protocols, wallets, and much more. The number of teams that are building on CSC increases daily.

Future

In the future, CoinEx Smart Chain has plans of adding new features that improve user experience of the community, while adding building exercises.

What is CoinEx Smart Chain?

CoinEx Smart Chain comes with EVM-compatible programmability that allows developers to write smart contracts that are compatible with Ethereum and other networks.

CoinEx Smart Chain- CSC- is a blockchain that uses the Proof of stake consensus mechanism to allow developers to create their innovations in a decentralized and energy-efficient environment.

CSC is known to be fully EVM compatible, meaning that developers are allowed to migrate their decentralized apps and smart contracts from Ethereum and other Ethereum-compatible networks to CoinEx Smart Chain.

It is permission free, allowing developers to create whatever they want on the network. The validation process is handled by at most 101 nodes that are chosen based on the number of CET that they stake. Those that want to become Validators must stake the minimum level of CET, and be one of those that are staking the highest number of the native tokens. The top stakers can run nodes, as long as they have the hardware requirements.

CSC is known to be fast, scalable, and extremely affordable compared to other networks out there. Its block generating time is pegged at seconds.

Developers create their innovations on CSC in three simple steps. They should start by connecting to the testnet, compile and run, then debug and release the decentralized app.

As for users, they can also get involved in any of the Decentralized finance platforms available on CSC by creating an account and enjoying the features available. Users should down a CSC-compatible wallet, deposit funds, and explore the numerous projects on the network. They can trade, buy and sell coins, stake, carry out yield farming activities, and much more. There is a lot to achieve on CoinEx Smart Chain.

As a result of being EVM-compatible, the Decentralized apps and smart contracts created on Ethereum can work on CSC and vice versa. CoinEx Smart Chain allows smart contracts. The contracts allow decentralized apps to run on the platform.

As a permissionless blockchain, anyone can build on CoinEx Smart Chain when they want to, Incorporating features when they wish.