It was a thrilling ride for crypto markets in May 2022. You may have heard of the Terra-released cryptocurrency Luna’s recent collapse. Luna’s peak market cap was over $40B. The price fell from $90 down to just $0.00015 after the crash. Luna’s plunge, once one of the most popular stablecoins in the world, was far greater than the other altcoin price drops. Investors holding Luna suffered massive losses and some have even lost their entire investment portfolio.
Terraform Labs released Terra 2.0 in less than a month after the Terra meltdown and fitted it with new Luna coins. This is a great way to make a comeback. But will Terra 2.0 still be trusted by investors? Although trust can be lost instantly, it is difficult to rebuild.
Ethereum is still the central point of the public chain ecosystems at present. Even so, Ethereum does have its flaws. A large number of DApps in an ecosystem could slow down the network due to Ethereum’s low transaction processing speed. Additionally, Ethereum users have to pay high gas costs. During peak hour, a single transfer can cost hundreds of dollars. This hinders large-scale adoption of DApps and their growth. While Ethereum has released ETH 2.0, no date has been set for when the upgrade to ETH 2.0 will complete.
Public chains with high-performance and low fees are the key to DApps’ boom. CSC, a public blockchain dedicated to the development of the Blockchain world’s infrastructure is just such a chain.
CoinEx Smart Chain (CSC) is a decentralized, efficient public chain created by CoinEx’s public chain team for decentralized finance. CSC gives developers an easy-to-use and cost-effective on-chain environment in which they can store digital assets, run smart contracts, DApps, and create smart contracts. CSC has the following advantages, according to us.
1. Excellent performance
The most common indicator of public chain performance is TPS. This refers to the amount of transactions a public network can process in a second. In simple terms, TPS can be described as throughput. TPS is a measure of the public chain’s performance. CSC has a maximum TPS of 1,000. To understand what that means, we can compare CSC’s TPS with that of Ethereum and BSC.
TPS
Ethereum: 15
CSC: 1,000
It’s clear that CSC’s TPS is way higher than that of Ethereum and BSC. The public blockchain can handle more transactions per second, and also carry more DApps. CSC is able to run multiple DApps at once.
CSC is able to achieve a TPS level of 1000 primarily due to its use the PoS consensus method from the beginning. CSC has permissionless validators and high throughput. It also supports EVM.
As we all know, compared with PoW, PoS, which is the mainstream consensus mechanism among public chains in today’s market, significantly improves the performance of public chains. In other words, Ethereum 2.0 aims to improve the network by moving it from PoW to PoS. Additionally, PoS has different branches. EOS is an example of one PoS branch, DPoS. EOS Validators have the ability to form alliances because DPoS cannot be sufficiently distributed. This results in a degree of monopoly.
2. High degree of decentralization
Public chains can also be assessed by decentralization. Insufficient decentralization can lead to validators colluding with one another when voting. This is exactly what happened at EOS. CSC however, has a very high level of decentralization. CSC can accommodate up to 101 validators. This is much more than EOS’s 21 supernodes.
CET staked is the metric used to rank CSC validators 101. Rankings are based on the staked CET. Anyone can be a validator on CSC by simply staking CET, without any permission. This keeps the public chain extremely decentralized.
3. Security Enhanced
CSC was first built by CoinEx. As a world-renowned crypto exchange, CoinEx is backed by one of the earliest developer teams in the industry, with expertise in technology R&D and global operations in the crypto space. Hacking is a common problem on exchanges. Binance was even once compromised. CoinEx, however, has achieved a perfect security record with a zero incident record over five years. CSC (a public blockchain developed by CoinEx) has been operating steadily since June 2021. CoinEx’s strong tech team keeps CSC secure.
Second, CSC’s codes have been audited and verified by professionals. PeckShield is a leading blockchain security firm. The partnership between the public chain and PeckShield ensures that CSC remains safe and secure at all levels.
4. CSC has introduced a Multimillion Dollar Supportive Plan that focuses on the building of ecosystems
Strong support from other public chains is essential for the success of any public chain ecosystem. EOS is a good example. EOS is the largest public chain to raise funds. Yet, Block one, EOS’s parent, did not spend the funds raised on the growth of the EOS ecosystem but on compliance. EOS’s momentum was lost because Block one missed the opportunity.
CSC learned from numerous failures and now places great value on ecosystem construction. CSC also established a Multi-Million-Dollar Supportive Plan, and a Five-Million-Dollar Special Funding Support to Metaverse Ecology. CSC provides technical support as well as marketing support for project teams. CSC-promising projects can get priority listing access on CoinEx for tokens.
CSC is a PoS-based, PoS-based, public chain that offers high performance, low gas fees, and decentralization. CSC offers strong support for DApp project development. It provides funding, technology and resources as well technical/resource support by the CoinEx team. CSC also supports EVM compatibility, which allows seamless migration to Ethereum-powered project.