Creditcoin Docs
Creditcoin Docs
  • What is Creditcoin
    • CTC Token 101
    • Acquiring Creditcoin Assets
  • SwapCTC Quick Guide
  • Wallets
    • How to Connect Your Wallet to Creditcoin
      • Polkadot-JS Extension
      • Metamask
      • Command-line Interface
        • Subkey
        • Creditcoin CLI
    • Advanced
      • Substrate & EVM accounts
      • Proxy Accounts
        • Setting up a Staking Proxy Account
        • Setting up a Validator
    • Using Testnet Faucet
  • Staking
    • Bonded Tokens
    • Validator Elections
      • Elections Example
    • Eras and Sessions
    • Staking Rewards
    • Slashing
  • Nominator Guides
    • Nominating with Staking Pools
      • Choosing a Pool
      • Joining a Pool
      • Creating a Pool
      • Exiting a Pool
      • Managing a Pool
    • Nominating without Staking Pools
    • Claiming Rewards
  • Validator Guides
    • Minimum requirements
    • Using a Docker container
    • Stake using Creditcoin CLI
  • EVM-compatibility
  • Smart Contract Guides
    • Creditcoin Endpoints
    • Deploying contracts with Remix
    • Hardhat Smart Contract Development
    • Creating Dapps with ethers.js
  • Environments
    • Mainnet
    • Testnet
  • Technical Specification
  • Releases
  • LEGAL
    • Terms of Use
    • Privacy Policy
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What is Creditcoin

NextCTC Token 101

Last updated 9 months ago

The latest version of the Creditcoin network transforms the RWA protocol into an EVM-compatible layer 1 blockchain, which lays the foundations for the future release of a game-changing innovation: Universal Smart Contract. Universal Smart Contract will ultimately be able to coordinate, interact, and update smart contracts across multiple blockchains, enabling the development of native multichain applications.

With the release of Creditcoin’s EVM-compatibility, it is important to distinguish it from earlier versions of the protocol. The previous Substrate version of the Creditcoin network (2.0+ and earlier) is now referred to as CC Enterprise. The EVM-compatible version of Creditcoin is simply referred to as Creditcoin.

Creditcoin will be developed in two phases:

  • EVM-Compatibility (Phase 1 - Currently in Mainnet): The first goal is to transform Creditcoin into a fully EVM-compatible layer 1 blockchain. This will enable anyone to program new smart contracts for Creditcoin using the same programming language and techniques used by Ethereum and other EVM-compatible blockchains. By leveraging these existing EVM network effects, Creditcoin benefits from lower dApp development costs and lead times. In summary, as an EVM-compatible protocol, Creditcoin will allow developers to build a wide range of related applications, protocols, and more, directly on the Creditcoin blockchain, in addition to all existing credit capabilities.

  • Universal Smart Contract (Phase 2): Phase 2 involves the deployment of Universal Smart Contract allowing Creditcoin developers to natively access information and events on other L1 blockchains, such as Bitcoin and Ethereum. By providing native access to multi-blockchain event data through a standardized interface, Creditcoin allows developers to coordinate smart contracts across multiple chains. In summary, making it safer and simpler to deploy novel multi-chain applications. With the release of this phase, Creditcoin will become the Universal Smart Contract Layer of Web3.

Explore the visual overview of Creditcoin:

Read more about Creditcoin’s main components:

Nominated Proof-of-Stake Consensus
Wallets
Creditcoin CLI tool
Nominator Guides
Validator Guides
EVM-compatibility
Smart Contracts