USC Product Overview
Description of Creditcoin Universal Smart Contracts and the problems they solve
In today’s interconnected world, institutions and applications are no longer confined to a single blockchain. Value, data, and users are distributed across many networks, but connecting them securely has remained challenging. The most common solution has been to rely on centralized oracles and bridges, but doing so undermines the very principles that make blockchains trustworthy in the first place. By placing trust in a single oracle operator, institutions expose themselves and their clients to a single point of failure. In such a system, funds can be stolen and data can be falsified.
The diagram below illustrates how a centralized oracle concentrates power and risk in one place.
Creditcoin USC is a project which extends the capabilities of 
Creditcoin with the addition of a decentralized oracle infrastructure.
Decentralized oracles solve that problem by ensuring that there is no single trusted party with the power to corrupt data provisioning outcomes. We've added decentralized oracle infrastructure to Creditcoin, ensuring institutional grade security for third party cross chain apps and services.
Those apps and services are secured using Universal Smart Contracts, contracts which leverage the Creditcoin oracle to execute business logic spanning any number of chains. Operating across many chains simultaneously integrates their isolated pools of information and capital, opening up new powerful business use cases. This video provides a comprehensive first look into Universal Smart Contracts :
What use cases benefit from cross chain interoperability?
Cross chain DeFi:
Automating lending, borrowing, trading, and yield farming without intermediaries.
Creating and managing cryptocurrencies,
NFTs, and fractional ownership of real-world assets.Facilitating trustless, automated payments and conditional fund transfers.
Gaming and Metaverse:
Powering in-game economies, item ownership, and where appropriate, the gamification of real world interactions.
This is a powerful tool to influence community conscious decision making via incentivisation and fun!
Voting and Governance:
Allowing communities to easily establish and interact with novel democratic systems.
Contracts can leverage digital identity and the public, immutable ledgers of blockchains to make these systems more secure and truthful than ever before.
All of these uses for blockchain become more powerful when data and liquidity across many chains are usable in one place
Current Decentralized Oracle Capacity:
Can process up to 20 proofs every 12 minutes.
Can queue 40 proofs for processing at once.
Average 12 min proving time with a cap of 30 min.
These are numbers from unoptimized testing. By exploring new proving methods and scaling proving services it may be possible to achieve a proving time as low as 15 seconds and hundreds of concurrent proofs.
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