The CoinEx Smart Chain (CSC) core network was launched on 30 June. It was announced on CoinEx's cryptocurrency exchange website.
CoinEx Smart Chain operates on Proof-of-Stake consensus protocol. The blockchain is focused on the DeFi sector and is compatible with the Ethereum virtual machine. The CET network's native token is supported by ViaWallet and Metamask wallets.
CSC throughput is 600 TPS with a block creation time of 3 seconds. The CoinEx Smart Chain validator pool includes up to 101 participants. Users can delegate tokens to them to receive a portion of the rewards.
In early June, CoinEx Smart Chain created a seed fund of $10 million to develop the dapps ecosystem. The project will give up to $100,000 to developers who create or port apps to CSC. The best projects will be eligible to place tokens on CoinEx.
"To create a DeFi-infrastructure at CSC, we have to formulate incentives and ecosystem policies. Then, help new projects with conceptualisation, start-up and development. We don't want to blindly support migration of applications from Ethereum, chase capitalisation of the network or copy solutions from other ecosystems," comments CoinEx founder Haipo Yan.
CSC is part of the ViaBTC Group ecosystem, which also includes the CoinEx exchange, the ViaBTC mining pool and the ViaWallet wallet.
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