Creditcoin price

CreditCoin (CTC) is an advanced decentralized cryptocurrency project built on the foundations of blockchain technology. The protocol aims to revolutionize financial transactions by providing a secure, fast, and efficient platform that eliminates the need for intermediaries. 

With a specific focus on the lending and borrowing market, CreditCoin aims to cater to the needs of individuals and businesses seeking convenient and streamlined access to loans for operational purposes. 

What is CreditCoin

CreditCoin is a project that leverages a distributed ledger maintained by a network of nodes to record transactions. Unlike traditional financial systems, CreditCoin provides additional security and transparency. Transactions on the network are validated and processed in a decentralized manner, ensuring the integrity and reliability of the system.

Built with user-friendly technology, CreditCoin enables fast and seamless transactions. It offers the benefits of low transaction fees and high-speed processing, making it an attractive choice for individuals seeking an efficient and cost-effective solution for their financial transactions.

The CreditCoin team 

CreditCoin was jointly founded by Aella and Gluwa, with Gluwa as the technology provider and Aella as the initial distributor. Gluwa is made up of a talented and diverse team of industry experts who possess extensive experience in the fields of cryptocurrency and blockchain. 

Leading the team is Tae Oh, who plays a key role in the project's development. Scott Hasbrouck holds the positions of CEO at Gluwa and VP of Engineering. Sung Choi is the Vice President of Investment, while Vladimir Kouznetsov is the Lead Blockchain Architect.

How does CreditCoin work

CreditCoin operates on a permissionless blockchain, enabling a borderless credit network to facilitate financial transactions. The network involves four main parties: lending pools (LPs), fundraisers, borrowers, and other participants.

CTC: CreditCoin's native token

CTC is the native token of the CreditCoin project, serving multiple functions within the ecosystem. Its primary use is for covering transaction fees and mining rewards. Additionally, CTC operates through a unique token usage mechanism, which is utilized to settle transaction fees for every communication or update issued by the CreditCoin network.

CTC tokenomics 

CreditCoin's tokenomics are designed to support the operation and growth of the network. The total supply of CTC tokens is 599,999,997, with 227,464,279 tokens currently in circulation.

CTC is the mainnet token and is vital to the network's functioning. It is used for settling transaction fees and providing rewards to miners. The network also utilizes another token called G-CRE, which operates alongside CTC to enable specific functions within the ecosystem.

CTC use cases 

The CTC token serves various use cases within the CreditCoin ecosystem. These include offering staking privileges, allowing users to earn rewards through staking their CTC tokens.

 Additionally, the CTC token is used to pay transaction fees, providing a means for users to conduct transactions on the network. Furthermore, CTC token holders can participate in the governance of the CreditCoin ecosystem by using their tokens to vote on specific upgrades and proposals.

CTC distribution

The distribution of CTC tokens is allocated among four key participants within the network: 

• Seventy percent of the tokens are allocated to CreditCoin miners, who utilize the funds to support the network, run contracts, and maintain the blockchain.
• Fifteen percent is directed to Gluwa for deployment, research and development, marketing, distribution, administration costs, and business development.
• Ten percent of the tokens are distributed to partners involved in network development, business development, and support.
• Five percent is allocated to the CreditCoin Foundation.