What is Creditcoin? All information about CTC token

Developed by an international team, Creditcoin not only records the history of credit transactions on a public blockchain but also creates opportunities for individuals without formal credit histories to access credit.

Let’s examine how Creditcoin is addressing the current challenges in the financial sector with AZCoin.

What is Creditcoin (CTC)?

Creditcoin is a lending protocol built on blockchain technology that aims to transform how credit is obtained and offered. It connects investors or lenders with fundraisers or borrowers who share similar loan conditions.

This cutting-edge platform seeks to make credit accessible to all, regardless of location. By permanently recording credit transaction events on the blockchain, Creditcoin greatly lowers the costs tied to verification and risk analysis.

This level of transparency helps reduce information gaps and frees decentralized finance (DeFi) from the usual problem of over-collateralization found in traditional lending models.

The platform’s open economy structure also minimizes networking expenses, enabling anyone to utilize Creditcoin for various activities like seeking funding, investing, creating lending groups, or building applications.

Once transactions are agreed upon, they are executed on different blockchains. Creditcoin differentiates itself by shifting from collateral-driven lending to credit-based lending, providing a distinctive method within the DeFi sector. It uses a Proof of Work consensus system to guarantee security and dependability in its network.

How does Creditcoin work?

Creditcoin functions as a decentralized blockchain, creating a global credit investment platform. The network includes four primary groups: Investors, Lending Pools, Fundraisers/Lenders, and End-Users/Borrowers.

Investors, who can be individuals or large organizations, inject liquidity into the market by placing “Ask Orders” on the blockchain, which allows them to earn fixed interest in their liquidity pools in either fiat or cryptocurrency.

Lending Pools or Money Markets are formed by combining these ask orders with Gluwa Capital’s support to enhance the DeFi lending sector.

Fundraisers, which may include various lending institutions or non-profit organizations, utilize Credal, a tool that streamlines the process of developing and launching applications on the Creditcoin Blockchain.

Borrowers, often those lacking access to conventional banking services, generate the need for funds, propelling market activity. Creditcoin’s distinct token model locks transaction fees in CTC for about one year before they are returned to users, promoting a stable and efficient transactional environment.

A crucial feature of Creditcoin is its off-chain credit scoring system. Acknowledging that a single credit model cannot suit every situation and the high computational demands of credit evaluation, Creditcoin conducts credit scoring off-chain. This method enables a more flexible and responsive credit assessment, utilizing both on-chain and off-chain data.

What is CTC token?

CTC is the primary token used on the Creditcoin mainnet and is essential for the network’s functioning. It serves as a payment method for transaction fees and rewards miners who help secure the network.

CTC supply and token distribution:

• Current circulating supply: 372,085,700 CTC
• Overall total supply: 549,564,264 CTC
• Maximum supply limit: 600,000,000 CTC

Every action taken on the Creditcoin blockchain, including announcements and loan cycles, generates a fee paid in CTC. This token system aims to minimize uncertainty for users transacting on Creditcoin by providing a versatile token that ensures long-term stability.

The total amount of Creditcoin tokens (CTC) is limited to 2 billion, with some set aside for mining rewards, development, and governance within the network.

A distinctive aspect of CTC is that transaction fees are held on the network for about a year before being returned to users, indicating a lasting right to access the network. Furthermore, Creditcoin also utilizes G-CRE, an ERC20 token mainly for vesting and trading purposes, which can be swapped for CTC at a 1:1 ratio.

And if you’re looking to trade the CTC token safely, you might want to check out the best crypto exchanges 2024.

Is CTC worth investing in or holding?

If you’re considering purchasing CTC, the following details could assist you in making investment choices:

Over the past week, CTC’s price has increased by 0.49%, resulting in positive gains for many investors. The market sentiment regarding CTC’s price trend is currently optimistic.

However, it’s crucial to recognize that CTC’s current price has dropped by 95.11% from its peak value. This cryptocurrency is viewed as high-risk, and while there may be potential for price recovery, considerable uncertainty remains.

Moreover, it’s essential to acknowledge that each cryptocurrency has specific optimal moments for buying and selling. The best time to invest fluctuates: when a cryptocurrency is undervalued, it’s advisable to implement a buying strategy; conversely, when it becomes overvalued, you should sell it promptly.

To assess whether investing in CTC is worthwhile, you must evaluate various market factors, including the general trends in the cryptocurrency market, the project’s fundamentals, its current market valuation, and whether the price is appropriate for purchase. If the project’s fundamentals change unexpectedly or the price escalates significantly, you should modify your investment approach and trading strategies accordingly.

Your investment choices should reflect your risk tolerance, financial situation, and thorough market analysis and research, particularly focusing on investment timing. Accurate timing can enhance the likelihood of achieving reliable returns. Always remember that investing in CTC or any cryptocurrency carries inherent risks and uncertainties.

Conclution

By connecting real and digital assets, Creditcoin serves not only as a technological solution but also as a significant advancement towards creating a fair and sustainable financial system. Let’s observe and uncover the potential of Creditcoin in transforming our approach to credit and finance.