As a seasoned crypto investor with a penchant for blockchain technology that fosters real-world applications, I find the latest development from Creditcoin incredibly intriguing. Having witnessed the rise and fall of numerous projects, I’ve grown to appreciate those that focus on solving tangible problems, such as providing financial access to the unbanked.
creditcoin’s blockchain platform, named Creditcoin, declared the deployment of their Ethereum Virtual Machine-compatible (EVM) main network.
As stated in a Creditcoin announcement on August 28, the launch of their mainnet, which is compatible with Ethereum Virtual Machine (EVM), coincides with the unveiling of the CreditWallet application. This mobile app serves to streamline cross-blockchain transactions between EVM-compatible and Substrate-based blockchains.
Here’s a simpler and more conversational way to explain that:
Creditcoin unveiled a Universal Smart Contract (USC) layer, a feature designed to streamline developers’ workflows further. By allowing direct interactions between various blockchains without the need for intermediary bridges, they aim to make the process more seamless and efficient.
On August 21st, the balances from Creditcoin Classic accounts will be moved over to the latest version of the blockchain. Additionally, Creditcoin Classic users will have to adjust their mainnet nominator and validator positions using the revised control panel.
Earlier this month, headlines featured Creditcoin as they joined forces with Credefi, a company specializing in tokenizing real-world assets. This collaboration aims to give Creditcoin users access to Credefi’s NFT Bonds and other associated financial instruments, particularly for lending support to small and medium enterprises. As stated by a representative at the time:
“Combining the best aspects of two systems allows us to make significant progress in connecting traditional finance (TradFi) with decentralized finance (DeFi). By working together, we aim to establish a smoother, more integrated financial system that provides expanded possibilities and advantages for everyone involved.”
This partnership aligns with Creditcoin’s emphasis on tangible assets, as evidenced by their platform being designed specifically for such products. The company clarifies that its mission is to facilitate credit access for the unbanked population by providing on-chain liquidity and maintaining on-chain credit histories.
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2024-08-29 11:20