- Summary:
- The EVM compatibility upgrade allows developers to easily migrate their existing dApps and smart contracts to the Creditcoin network.
Creditcoin, the foundational L1 blockchain, announced the launch of its EVM-compatible mainnet, marking an improvement to enhance global financial inclusion through blockchain technology. This launch advances Creditcoin’s core mission and introduces CreditWallet, a new mobile wallet app designed to optimize user engagement with the Creditcoin ecosystem.
The EVM compatibility upgrade marks a notable development, allowing developers to easily migrate their existing dApps and smart contracts to the Creditcoin network. This integration facilitates seamless multi-chain interactions and reduces the complexities and costs traditionally associated with cross-chain operations. The introduction of the Universal Smart Contract (USC) layer will further streamline these processes by enabling direct, secure interactions across various blockchains without the need for bridging.
Central to the update is CreditWallet, a new mobile app transforming 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. The app’s user-friendly interface, non-custodial ownership, and enhanced security features help to ensure a seamless and secure experience for users, both new and old.
Existing Creditcoin Classic users will see 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, while also exploring new staking opportunities through the updated dashboard. For technical integration, users are encouraged to review Creditcoin’s resources, including RPC information and guidance on adding Creditcoin EVM to MetaMask.
About Creditcoin
Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets. By working 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.