On September 16, 2023, Creditcoin launched the Universal Smart Contract testnet, aimed at addressing data verification challenges and integrating blockchain technology into the financial sector.
What is the Creditcoin Universal Smart Contract?
Launched on September 11, the Universal Smart Contract is designed to solve the problem of verifying data from various blockchains. It integrates diverse blockchain-based financial tools with the traditional economy.
Data Verification Methods of the Universal Smart Contract
The system employs a group of participants to verify data, who gather and reach consensus on transactions from other networks. These data form a secure 'chain of authentication blocks', allowing the demonstration of verified information.
Significance of the Universal Smart Contract for Financial Infrastructure
The Creditcoin Universal Smart Contract marks a vital step toward integrating blockchains with the real economy, enabling the verification of assets and data, which opens new opportunities in lending, payments, and asset tokenization.
The launch of the Creditcoin Universal Smart Contract testnet represents a significant step towards cross-chain integration and enhancing data trustworthiness, facilitating the development of decentralized financial applications.
