Creditcoin, the real-world assets (RWA) network, has achieved a significant milestone with the successful conclusion of its testnet for the upcoming 2.0+ mainnet upgrade. The testnet witnessed overwhelming demand from users across 91 different countries, showcasing the network’s global appeal and potential.
Transition to NPoS Mechanism
The testnet’s success allowed Creditcoin’s development team to gain strong confidence in the network’s transition from PoW (proof of work) to NPoS (nominated proof of stake). Through a rigorous stress test, the team verified assumptions about higher throughput and consistent chain interactions, solidifying the network’s stability and performance.
Alan Kong, Director of Marketing at Creditcoin, expressed excitement about the community’s enthusiastic participation, which contributed to the successful 2.0+ upgrade. The shift to NPoS marks a crucial step in enhancing the network’s efficiency and scalability.
Advancing Real World Assets
Creditcoin stands out among other real-world asset platforms due to its unique operational design. The blockchain solution records the loan performance of borrowers, lenders, and investors, promoting transparency and security within the RWA investment ecosystem. The network’s achievements speak for themselves, with over 3 million loan transactions valued at more than $70 million recorded to date.
A Vision for the Future: Creditcoin 3.0
Building on its prior success, Creditcoin is gearing up for the Creditcoin 3.0 upgrade next year. The forthcoming upgrade aims to revolutionize the RWA space by delivering EVM-compatibility and Universal Smart Contracts. This ambitious goal aims to create a native multi-chain RWA investing experience for Web3 users.
Bridging Financial Inclusion with Blockchain
Tae Oh, Founder of Creditcoin, highlights the network’s commitment to financial inclusion for the unbanked. Creditcoin’s open ledger of credit history empowers the underbanked to build objective credit profiles. By interconnecting borrowers and lenders globally, the network facilitates access to fair credit lines, fostering financial inclusion for those excluded from traditional banking services.
A Bright Future for Creditcoin
The successful conclusion of the testnet sets the stage for the highly-anticipated Creditcoin 2.0+ update. The upgrade promises significant improvements in scalability, security, and decentralization, furthering the network’s mission of providing global access to capital financing, building credit history, and fostering trust in emerging markets.
Empowering a New Generation of Credit Markets
Creditcoin is a trailblazing real-world asset infrastructure chain that has facilitated over 3 million credit transactions to date. By bringing together borrowers, lenders, and investors on-chain, the protocol is forging a new path for globally interoperable credit markets.
Through seamless integration with various fintech lenders and direct connections to global DeFi investors, Creditcoin has enabled thousands of borrowers, businesses, and investors to secure capital financing, build credit history, and engage in global RWA investments.
Creditcoin’s future is bright, and its advancements in blockchain technology have the potential to revolutionize credit markets, empower the unbanked, and pave the way for a more inclusive and accessible financial landscape.