CoinEx Smart Chain | An Efficient, Simple Public Chain that Turns Sophistication into Simplicity
Steve Jobs captured Apple’s product philosophy with one quote — “simplicity is the ultimate sophistication”. Guided by this vision, which is at the center of all Apple products, the company has delivered simple, easy-to-use experiences to the doorstep of users and built unassailable brand barriers for Apple.
In April 2022, CoinEx adopted an all-new brand — “Making Crypto Trading Easier”. The exchange aims to implement this new vision of “easy trading” throughout its ecosystem.
The vision of “simplicity and ease of use” reflects a consensus reached by the CoinEx team after a long period of deliberation. Faced with the rapid progress of blockchain over recent years, CoinEx has been considering what values it could create for more users. As we all know, though there are millions of blockchain users, only a small proportion of them fully understand how blockchains are run and profit by adopting the right strategies.
This is primarily the case because many new blockchain adopters and potential users are discouraged by the expensive entry costs and daunting tech barriers of blockchain. If a blockchain plans to serve more users and create more accessible products, then it is essential to build a bridge that brings users to the blockchain space, which motivated CoinEx’s new brand slogan: Making Crypto Trading Easier.
CoinEx Smart Chain (CSC), a public chain within the CoinEx ecosystem, aims to build a high-performing, decentralized financial ecosystem. Committed to the same vision as CoinEx, CSC strives to enable high-speed growth for its ecosystem through the core value of “simplicity”.
Unlike on-chain projects, CSC is a blockchain infrastructure, which means that it needs not only to bring satisfying user experiences but also to create a simple, easy-to-use platform for developers. As such, for CSC, the key to building brand advantages is to create an easy-to-use underlying protocol and sound bottom-layer infrastructure, provide developers with a comfortable working environment, and offer financial support for outstanding projects.
A developer-friendly protocol
Developer friendliness is one of the major advantages of CSC. Based on its compatibility with EVM, CSC uses PoS, which is an innovative consensus mechanism, to provide developers with a high-performing platform, allowing them to benefit from such CSC features as high throughput, scalability, security, and low costs.
Featuring strong compatibility, CSC enables Ethereum developers to migrate applications to CSC at low costs. With CSC, developers can build a bridge between Ethereum and CSC with fast block time (within seconds) and negligible fees. CSC lowers the entry threshold and creates a simple, easy-to-use public chain environment for developers.
Embrace the multi-chain ecosystem
As the category moves towards a multi-chain universe, public chain ecosystems are needed to enable satisfying user experiences, which highlights the significance of cross-chain bridges. Last year, CSC launched CSC Bridge, through which users can easily swap assets from Ethereum, BSC, and Tron to CSC, enabling the cross-chain circulation of funds.
Cross-chain swapping is a critical part of CSC’s ecosystem. Only convenient, fast cross-chain bridges can help a public chain ecosystem better capture external value. In the future, CSC Bridge will also support asset swapping on more public chains, allowing a growing number of users to join the CSC ecosystem with ease.
Long-term plans and incentive programs for ecosystem building
Ecosystem building is the most significant factor in the growth of a public chain. In addition to high performance and smooth user experiences, a public chain should also strive for an enabling development environment, which is reflected by the level of support it provides for emerging projects. Soon after its inception, CSC launched growth funds such as the Multi-Million Dollar Supportive Plan and the Special Metaverse Fund to incentivize ecosystem building. These efforts have attracted more developers and project teams to CSC and lowered the cost of project development on CSC for developers, facilitating truly “simple” project deployment.
Developers underpin the growth of a public chain, and a public chain ecosystem needs support from the developer community if it wishes to grow bigger. As such, in addition to the support funds, CSC also offers technical support. For instance, last year, CSC hosted the Global Hackathon Grants and started to recruit CSC Pioneers. Through events such as competitions, CSC reaches out to the developer community and explores blockchain technology together with developers. Backed by CSC Pioneers, the public chain shares CSC-specific development tutorials and basic know-how. This helps more developers build projects on CSC effortlessly, and allows the ecosystem to flourish over the long run.
Simplicity and ease of use lie at the core of CSC’s vision. CSC aims to create a flourishing ecosystem by building a well-performing, secure, stable public chain environment that features the Multi-Million Dollar Supportive Plan and the Special Metaverse Fund, as well as strong support for ecosystem growth and user education.