CoinEx, a Cryptocurrency trading company Established in December 2017, today announced that its native CoinEx Smart Chain (CSC) testnet has been successfully deployed, after two weeks of stable internal operation. CSC is a Smart contract Blockchain provides developers with an efficient on-chain environment to run decentralized applications (DApps) and store digital assets.

The CSC PoS consensus protocol has a shorter block interval than Ethereum, adopts a staking-based on-chain governance mechanism, and supports up to 101 unlicensed block producers. In addition, compatibility with Ethereum means that almost all DApps, ecosystem components and tools on Ethereum can be directly migrated to CSC.

More features, including coming soon

According to the CSC development roadmap; the CoinEx public chain team completed the CSC faucet at the end of April, released the CSC white paper and developer documentation in May, and launched the testnet together with the seed fund plan. The CSC browser and CSC mainnet will be released this month; more improvements are coming soon.

While ensuring that Ethereum is compatible with its future upgraded versions, CSC will continue to improve the throughput of the blockchain, make blockchain clients easier to use, enhance the security of custody services, and provide more general cross-chain token services. At the same time, enriching its DApp ecosystem will be one of CoinEx’s main goals in the near future.

10 million USD seed fund and DApp competition to encourage more developers to participate

Promote the synergy between CoinEx’s CeFi and DeFi ecosystems; CSC Foundation is setting up a $10 million seed fund to attract More developers Build applications on CSC.

Subsequently, a DeFi project competition will be launched to encourage more DApp development. Promising projects will receive support funds of up to US$100,000. The CSC Foundation will also provide funding, technology and marketing resources for DeFi projects.

“CoinEx is very pleased to have new promising developers apply for CSC seed funding; and build their DeFi projects on CSC. People with extensive development experience on other chains are also welcome to migrate their projects to CSC. CSC Foundation Liquidity will be provided for selected projects that pass the security audit, and CET will be issued as rewards. In addition, top projects will have the right to list coins on the CoinEx exchange.”
– CoinEx team