Looking at the world of cryptocurrencies, we see that the best cryptocurrencies have their blockchains. In this way, projects can have targets on their blockchains; however, they have created a closed system. Creditcoin aims to change the prevailing thinking on this subject. Creditcoin developers, who are considering combining different blockchain values directly into a protocol, will thus create a blockchain network consisting of a combination of a variety of blockchains. In addition, while the credit system is operating, the credit history gets recorded. Notable names sit in the high seats of the companies behind the project: Coinbase CEO Barian Armstrong and YouTube co-founder Steve Chen.
Today, when talking about CTC Coin, the first name that comes to mind is Brian Armstrong, he is the CEO of the Coinbase exchange. Since the Coinbase exchange has a very high market volume, CTC Coin has suddenly attracted the attention of investors. This crypto money, which looks like an advanced bank thanks to its credit systems, but makes all its transactions on blockchains, has always guaranteed to have high market volume figures, even if it does not want to. That’s why many cryptocurrency connoisseurs give positive feedback when asked about the CTC Coin review.
What is Creditcoin (CTC)?
Creditcoin (CTC), as the name suggests, is one of the DeFi projects that develop lending and receiving systems on blockchains; but tries to do this with a more advanced method. CTC Coin, which has the Coinbase team and CEO behind it, could become popular in a while because it is reliable and assertive. Many advantages are lagging because the major cryptocurrencies each have different infrastructure and cannot communicate with each other. Due to its developed system, CTC Coin can bring more than one blockchain network on a common denominator.
In addition, all transactions made on this cryptocurrency get recorded on the chain, just like an accounting or bank book. Thus, a transparent, reliable, and stable transfer system appears. In addition, lenders can have CTC Coins as income. Creditors can benefit from many advantages. In short, it seems like a project that should get under serious consideration of the buyers, sellers, and distributors. If you want to learn more about CTC Coin and Creditcoin platform, you can check the CTC Coin Whitepaper page.
Before the emergence of blockchain, it was not possible to provide an objective data flow shared by everyone. It was necessary to establish a central authority to authenticate data and information. Of course, databases continue to be stored in a centralized manner today. Naturally, data sale or the physical difficulties of the provider affects the whole system. But now, thanks to the blockchain, we can safely conduct financial transactions without intermediaries. Blockchain has opened the doors of a financial revolution. On the other hand, this does not mean that blockchain makes everything it touches perfect, like a magic wand. Blockchain is a new technology that is still under development; it has to reach its potential and overcome the existing problems such as scaling.
The blockchain market has proven itself and succeeded today. Over the years, the name of blockchain has become more and more popular, and new projects are still coming to market. The cryptocurrency market cap has a value of about hundreds of billions of dollars. Altcoins aside, Bitcoin alone is an incredible investor-attracting force. Despite this, fiat currencies are still indispensable in financial ecosystems. Processing times, sometimes high transaction fees, and high volatility prevented cryptocurrencies from establishing themselves as a payment system. Of course, the world has not yet gotten used to cryptocurrencies like fiat currencies. Like the beginning of every change, this adaptation process seems to take quite a long time.
Gluwa and Aella Credit, who created Creditcoin, aim to solve the mentioned problems. Aiming to bring the full potential of the cryptocurrency ecosystem, Creditcoin developers will bring fiat and digital currencies closer together. Creditcoin developers argue that there should be a unified blockchain and ecosystem for market growth. To sum up, Creditcoin plans to create a currency for everyone, as Satoshi Nakamoto envisioned.
Decentralized credit platform
The focus of the Creditcoin network will be blockchain technology creating a transparent credit market for cryptocurrencies. Thus, users will be under protection from financial risks. In addition, intermediaries are getting eliminated. So, users will not have to trust a third party.
Unlike other cryptocurrency platforms, Creditcoin does not create its blockchain. The protocol created by the developers manages a network of some other blockchains. The ability to combine blockchains provides advantages such as security and transparency. It directly connects fund collectors and those who want to give and receive loans this way. Trading Creditcoin in Bitunivex will provide a relaxing experience.
How does Creditcoin work?
Creditcoin specifically turns a decentralized credit network into digital wallets that can reach the investment market. Several factors ensure the continuity of the system. The miners who provide capital to the system users earn Creditcoins in return for their money. Creditcoin’s mining power seems to depend directly on the investors, so miners lend all the money they have to fundraisers to use. Thus, they have the highest possible interest rate and contribute to the consolidation of the system.
On the other hand, miners are protected against risks, as they can choose their parameters. Data between parties is recorded on the blockchain, as the network effectively connects investors and fundraisers under certain conditions. Since the blockchain is immutable, the recorded data can not get manipulated later. Thus, a consistent database is prepared for loan providers, it is easier for those who have a good track record and want to get a loan.
A brief review of the Creditcoin
The following statements were in the Creditcoin whitepaper:
- The Credit coin aims to design a simple blockchain that can do its duty perfectly, blockchain-based lending.
- We owe our versatility to the creativity of our users.
- Creditcoin developers state that they have plans to expand into the economy other than cryptocurrencies in the future.
- The developers underline that they have only served crypto users until now.
- They claim that cryptocurrency exchanges and stablecoins act as a shield to the cryptocurrency space.
- Creditcoin developers added that it is unreasonable to strangle an industry that is constantly increasing the value with cheap products.
Creditcoin has three steps in its future planning:
- Developing technological applications
- Creation of bonds directly using Creditcoin
- Opening the bond derivatives market
CTC Coin statistics
CTC Coin went public at the beginning of 2020 but did not show any serious activity until the end of the year. This issue means that our crypto money did not make a proper debut in the first process, so it is unknown to many investors. But as of 2021, it rose rapidly and broke the ATH record in just a few months. So it is advisable to trade it through your Bitunivex account and expect to gain a good amount of profit.
CTC Coin, which has a higher volume than other cryptocurrencies, could increase with credit transactions from other blockchains. But this had a positive effect on its value as well.