CoinEx Smart Chain is a public chain that uses the Proof of Stake consensus mechanism, and is EVM compatible. The smart Chain, as a Proof of Stake network, verified transactions through validators. People are expected to stake their tokens with Validators as a way of protecting the network. The public chain is designed to be compatible with smart contracts that operate on multiple networks like HECO, Binance Smart Chain, and Ethereum. This feature has made it a very affordable chain with a high scalability level.
Developers that use this chain usually benefit from better decentralized app development processes and affordable migration costs. It is generally creating an open and friendly ecosystem for developers.
Immediately the CoinEx Smart Chain mainnet was launched, a myriad of NFT projects, Web3 platforms as well as. decentralized exchanges migrated into the ecosystem. CoinEx hosts a regular Hackathon Grant that is focused on allowing developers and other participants to introduce new innovations into the ecosystem. In the Grant program, Coinex offers both resources and financial supports. That is not all, as CoinEx has created a Program that is focused on improving the level of development in the metaverse market, thereby ensuring that it comes to fruition.
CoinEx Smart Chain is an innovative chain that allows developers to build their decentralized apps on it or move their existing dApps to it. There are tools to make this happen. Below are some of the features of this network and the reasons that makes it beneficial to build projects on it.
Funding
It has a Grant program that is focused on improving both the crypto space and metaverse.
•Those metaverse projects that are existing but in other networks are rewarded when they move their project to CoinEx Smart Chain. As long as the platform has more than ten thousand users, they may be given a $10,000 support fund after they migrate.
Metaverse projects that have a whitepaper, token model, and official website, but have not launched will be given a $20,000 support fund if they agree to launch on CoinEx Smart Chain before any other platform.
Those projects that are still in the prototype stage can also get funding by interacting with the CoinEx Smart Chain’s team. They should contact @seven025 via telegram. Immediately after the application is verified, they are given a minimum amount of $10,000.
• Out of the fund, the CoinEx Smart Chain intends to invest hundreds of thousands of dollars in innovative projects.
Proof of Stake Network
As a result of the fact that CSC uses the POS consensus protocol to achieve block generation times in seconds, this means that users can access high transaction speed and. cheap transaction fees. It is not news that PoS networks do not comsume high computing power unlike PoW. This is why it is favored by many users and even organizations outside the blockchain space. Those developers that are looking for a more environmentally friendly option can try this out. Users are expected to stake to protect the network, while being rewarded with new tokens when they do this. This feature is another reason that PoS networks like CoinEx Smart Chain is favoured.
Full EVM Compatibility
CoinEx Smart Chain is compatible to Ethereum, meaning that decentralized apps on Ethereum can seamlessly be moved to CSC without stress. Developers that have been looking for a way to give their dApps Multi-chain features can do this by moving their dApps to CSC.
Since CSC is Ethereum Virtual Machine (EVM), it is easy for developers to utilize development tools to seamlessly create their dApps on CSC or migrate their existing apps and adapt them to CSC.
Decentralized feature
The CoinEx Smart Chain has permission-free and decentralized features. They are designed to work with hundreds of nodes depending on the ranking of staked CET.
Topnotch efficiency
The CoinEx Smart Chain is designed to offer high performance with ridiculously cheap fees. This means that users enjoy high scalability without paying a lot in fees. Transactions are verified immediately and the gas fees for the transactions are cheap. These features will encourage users to try decentralized apps that are based on CSC. They don’t have to be perturbed about congestion or high fees.