As it stands, the best cryptocurrencies are all segregated on their own blockchains. Creditcoin, however, is set to change all that, by connecting blockchain assets with a straightforward protocol – effectively creating an inter-blockchain lending market while allowing you to fulfill your financial dreams.
Connecting Financial Ecosystems
Before the blockchain, it was almost impossible to gauge the objectivity of shared information without a central authority. Now, we can now safely and securely conduct financial transactions without having to put our trust in middlemen. It is not an overstatement to say that we are truly in the midst of a financial revolution.
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The blockchain market has already proven itself to be resoundingly successful. At the time of this writing, the total cryptocurrency market capital is over $420 billion. Bitcoin alone has a market cap over $160 billion.
Nevertheless, today’s financial ecosystem is still dominated by traditional (fiat) currency. Long transaction times, relatively high fees, and extreme volatility have all made it difficult for cryptocurrencies to solidify themselves as viable forms of payment in a global society long accustomed to fiat currency.
Luckily, Gluwa and Aella Credit aim to unleash the full potential of the cryptocurrency ecosystem by creating an adapter that seamlessly connects digital and fiat currencies. In essence, they will push the blockchain even closer to the original vision of Satoshi Nakamoto by helping provide a sound currency for everyone.
A Decentralized Crypto Lending Network, Without the Risk
The Creditcoin Network utilizes the objectivity of blockchain technology to create a transparent credit market for cryptocurrency assets, allowing you to pursue your goals and dreams without putting your trust in third parties — and without taking on too much financial risk.
Currently, almost every major cryptocurrency in the market today exists on their own segregated blockchain. Creditcoin, however, will connect blockchain assets with a straightforward protocol, effectively creating an inter-blockchain lending market. By connecting the various blockchains, Creditcoin creates a secure, transparent cryptocurrency lending market which allows fundraisers and lenders to connect directly, without the necessity of an added middleman.
Specifically, Creditcoin is a decentralized credit network that turns digital wallets into an investment market. It works because market’s miners earn Creditcoin by providing capital to clients, who raise capital by paying Creditcoin to the miners. Because Creditcoin’s mining power is directly proportional to existing investments, it’s actually in the miner’s interest to provide the maximum amount of funding possible to fundraisers which, in turn, helps sustain a robust network by decentralizing credit history and automatically punishing default.
Miners, meanwhile, are protected against risk, since they can select credit history parameters. The network effectively connects investors and fundraisers with matching conditions, and the record of activities lasts forever on the blockchain. The data can never be manipulated, and thus provides accurate future credit data for evaluation by any interested parties.
As explained in Creditcoin’s whitepaper:
We aim to design a simple blockchain that serves a single purpose extremely well: enabling blockchain-based lending transactions … we achieve versatility through the creativity of our users.
Creditcoin’s Public Sale is Underway!
Creditcoin’s soft cap of 10MM USD has already been achieved in no time flat – and the hard cap is rapidly approaching. 134MM coins have already been sold, meaning there’s only 20MM left. So, if you’re interested, don’t delay!
Are you excited at the prospect of connecting various blockchains into one decentralized lending platform? Let us know in the comments below!
Images courtesy of Pixabay, Shutterstock
The post Creditcoin is Unleashing the Full Potential of the Crypto Ecosystem appeared first on Bitcoinist.com.
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