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Creditcoin: A Guide to the Platform and CTC Token
Creditcoin is an innovative blockchain project that aims to solve problems with access to credit for people without a credit history, especially in developing countries. Thanks to its unique features and the use of blockchain technology, Creditcoin introduces a new quality to the loan and credit market, enabling the building of reliable credit histories outside the traditional banking system. The CTC token, which is the main unit of the platform, supports access to decentralized credit services, while creating the opportunity to invest in global, decentralized credit ecosystems.
Creditcoin Mission
Creditcoin was officially launched on April 4, 2019 by an international team of specialists from the US, Canada, South Korea, Nigeria, and Estonia. The main goal of the platform is to enable people from developing countries to access loans, even if they do not have the credit history required by traditional banks. The lack of recognition of credit transactions made outside the banking system often closes the way to loans for non-banks. Creditcoin allows for transparent recording of credit transactions on a public blockchain, which allows banks and financial companies to gain trust in transaction data.
What is Creditcoin (CTC)?
Creditcoin is a decentralized blockchain network designed to handle credit transactions between different blockchains. It creates the foundation for the international credit market, connecting real-world assets with the Web3 world. CTC is the native token of Creditcoin, used for transactions and building credit histories on the blockchain, as well as supporting the platform in validation and security processes.
One of Creditcoin’s key solutions is the function of recording credit transactions as immutable records on the blockchain, which allows institutions to verify the credit history of customers without the need to use bank data. Thus, Creditcoin acts not only as a technology, but also as an innovative social solution, supporting greater financial inclusion.
Creditcoin Network Security
Creditcoin combines modern cryptographic techniques with a Proof-of-Work (PoW) consensus mechanism that requires network participants to solve complex mathematical problems to approve transactions and secure the network from attacks. Validators, who add transactions to the blockchain, play a key role in maintaining the network's security. With a decentralized validation model, Creditcoin minimizes the risk of manipulation and ensures transparency and data independence.
Creditcoin Application Examples
- Access to credit for people from emerging markets: Creditcoin creates an opportunity to obtain a loan for people with no credit history who would otherwise have limited access to financing.
- Building a credit history: Recording credit transactions on the blockchain allows for the creation of trusted credit records, giving users the ability to build credibility.
- Web3 based credit market: Creditcoin enables decentralized lending between users, which opens up new possibilities for crowdfunding.
Important events in the development of Creditcoin
Since its launch in 2019, Creditcoin has grown its ecosystem significantly, attracting interest and adoption in multiple markets, as well as gaining partnerships with financial organizations. One of the most important partners is Aella, which has helped distribute over 100 billion naira in microloans in Nigeria, supporting millions of people in developing regions.
Additionally, the Creditcoin platform has inspired other projects that build on its protocol, demonstrating its flexibility and adaptability in various areas of decentralized finance (DeFi). These initiatives underscore the importance of Creditcoin in the context of financial inclusion and expand its reach in the global market.
Founders of the project
The Creditcoin project was founded by Tae Oh, Scott Hasbrouck, Sung Choi, Vladimir Kouznetsov, and David Lebee – experts with extensive experience in engineering, investment, and blockchain. Tae Oh, who is also the founder of Gluwa, played a key role in building the Creditcoin platform, which was designed to create a more inclusive financial system.
Creditcoin (CTC) Token Technical Data
| Parameter | Value |
|---|---|
| Current price of | $0.3712 |
| Market capitalization | $ 142.18M |
| Volume (24h) | $ 9.69M |
| FDV (Fully Diluted Valuation) | $ 225.52M |
| Current Circulating Supply | 383.09M CTC |
| Total supply | 549.56M CTC |
| Maximum supply | 600M CTC |
| All time high | $8.71 (March 14, 2021) |
| All-time low | $0.1252 (March 13, 2020) |
| Profit from all-time low | + 200.66 % |
| Down from all-time high | -95.68% |
Where to buy and track CTC token quotes
- Creditcoin Home Page: www.creditcoin.org
- Major stock exchanges: Binance, Coinbase, Uniswap, Gate.io
- Quotations: Available on CoinMarketCap, CoinGecko, Binance
Summary
Creditcoin is a blockchain project with huge potential, aimed mainly at people from developing markets who often do not have access to traditional banking services. Thanks to its innovative approach and transparent methods of recording credit transactions on the blockchain, Creditcoin offers the possibility of building a credit history without a bank, which can become a significant step towards financial inclusion.
