On June 30, 2021, CoinEx Smart Chain (CSC) officially launched its mainnet, after the testnet ran stable for one month. CSC is a smart chain that provides developers with an efficient and low-cost on-chain environment to run 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 maintains extremely high TPS figures while keeping fees low. The PoS-based consensus is more environmentally friendly and outruns the PoW-based consensus with respect to performance (with less block generation time and higher transaction capacity). The PoS-based consensus can be flexibly managed by the community, without compromising decentralization.
Moreover, the PoS model CSC follows makes information 100% public and transparent, allowing users to stake coins as validators without permission. Being open, fair, and transparent, the CSC aims 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 complex thresholds for developers, especially those new to DeFi.
Plans following a successful launch
After the CoinEx public chain team launched the testnet along with a $10 million support plan in May, the official launch of the mainnet will significantly enhance the efficiency and application of native asset CET, which is 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.
While ensuring the compatibility between Ethereum and future upgraded versions, CSC will constantly enhance the throughput of the blockchain, make the blockchain client easier to use, improve the security of 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.
The $10 million ecosystem support fund which recently kicked off aims to encourage more development. Promising DeFi projects will receive support funding of up to $100,000. The CSC Foundation will also provide outstanding DeFi projects with added resources in terms of capital, technology, and marketing.