CSC | How to Pick the Next Financial Ecosystem After the Terra Crash?

Performance

As the bottom-layer infrastructure of blockchain ecosystems, public chains will find themselves at a serious disadvantage if they couldn’t scale up their processing capacity or process transactions in a reliable way and provide services for hundreds of thousands of customers. Therefore, when evaluating a public chain, we should assess its transaction speed and scalability.

Cross-chain swapping

In the current multi-chain universe, the demand for asset swapping across different chains is growing stronger. Such demands will become particularly obvious when the returns brought by on-chain projects in such categories as DeFi, NFT, and GameFi fluctuate during a certain period. As such, for public chains, cross-chain swapping is a major part of ecosystem expansion, and also one of the criteria for assessing their potential.

Long-term plans for ecosystem building & incentives

The growth of a public chain hinges on its ecosystem. Apart from superior performance and satisfying user experiences, a decent ecosystem should also create an enabling development environment, which depends on two factors: 1) compatibility and 2) incentives for emerging projects. CSC is compatible with EVM, which allows Ethereum-powered projects to migrate to CSC seamlessly. As for incentives, major public chains like Avalanche, NEAR, and CSC have all set up project development funds. CSC, in particular, has created the Multi-Million Dollar Supportive Plan and the Five-Million USD Special Funding Support for Metaverse Ecology. Apart from funding, CSC also supports projects in terms of market resources and technology to encourage more developments to deploy projects on CSC.

Conclusion

We have analyzed the different factors contributing to the strength of a public chain. Apart from performance, public chains will pay more attention to ecosystem expansion and project innovation to swiftly adapt to the future development of the blockchain space. Outstanding players will surely emerge from the competition between multiple chains and rank as second-tier public chains. The rapid advancement of blockchain will bring more challenges, and we look forward to the rise of more emerging public chains.

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CoinEx Smart Chain

CoinEx Smart Chain

A public chain built for the decentralized exchange. Website: www.coinex.org Telegram: t.me/CoinExChain