Delaware, USA, August 28th, 2024, Chainwire: Creditcoin, the foundational L1 blockchain, has announced the launch of its EVM-compatible mainnet, a significant step towards enhancing global financial inclusion through blockchain technology. This development not only advances Creditcoin’s core mission but also introduces CreditWallet, a new mobile wallet app designed to optimize user engagement within the Creditcoin ecosystem.
The EVM compatibility upgrade is a noteworthy development that allows developers to seamlessly migrate their existing dApps and smart contracts to the Creditcoin network. This integration facilitates smooth multi-chain interactions and reduces complexities and costs associated with cross-chain operations. The introduction of the Universal Smart Contract (USC) layer further streamlines these processes by enabling direct, secure interactions across various blockchains without the need for bridging.
Central to this update is CreditWallet, a new mobile app that revolutionizes how users manage their digital assets. CreditWallet simplifies cross-network transfers between Creditcoin’s EVM and Substrate chains, making it easier for users to move assets and interact with dApps across different ecosystems. With its user-friendly interface, non-custodial ownership, and enhanced security features, CreditWallet ensures a seamless and secure experience for users of all levels.
Existing Creditcoin Classic users will have their token balances transferred based on a snapshot taken on August 21, 2024. They will need to reconfigure their roles as nominators and validators on the new mainnet, as well as explore new staking opportunities through the updated dashboard. For technical integration, users are advised to review Creditcoin’s resources, including RPC information and guidance on adding Creditcoin EVM to MetaMask.
About Creditcoin
Creditcoin is a foundational L1 blockchain that records credit transactions, creating a public ledger of credit history and loan performance. It is paving the way for a new generation of interoperable cross-chain credit markets. By collaborating with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history, and facilitating trust for millions of underserved financial customers and businesses based on the principles of RWA.
Contact Director of Marketing Alan Kong alan.kong@gluwa.com
This article was originally published on Chainwire
Analysis: Creditcoin's mainnet launch with EVM compatibility and the introduction of CreditWallet represents a significant advancement in blockchain technology. This development not only enhances global financial inclusion but also simplifies cross-chain interactions and asset management for users. Existing users will need to adapt to the changes, but the benefits of improved security, user experience, and staking opportunities make it a worthwhile transition. Overall, Creditcoin's ecosystem is poised to create new opportunities for credit markets and financial services, benefiting both individuals and businesses worldwide.