Omnichain Platform CTEX Launches ICO On 6 Exchange
Ctex, the developer of a fast, scalable and secure blockchain ecosystem, is launching its initial coin offerings (ICO) across 6 exchanges including Coinstore, XT.com, Bitmart, Latoken, MEXC and BITFOREX, the company said.
Ctex Scan, a fully Ethereum Virtual Machine (EVM) compliant platform is in the business of transferring crypto assets in a secure and at a lightning speed. It also allows the developers to create usable, scalable dApps and smart contracts, at an affordable cost.
More than just another blockchain network, Ctex is, in fact, a comprehensive decentralized ecosystem comprising many high performance products such as decentralized exchange, an NFT marketplace, and a P2P crypto exchange.
What Tech CTEX is Using?
Ctex is developing the first-of-its-kind Layer-7 (Omni chain) blockchain platform built on Ethereum Virtual Machine, which will comprise an ecosystem consisting of Defi, Gamefi, NFTs and Metaverse, the company said in its white paper filing.
It is a Proof-of-work (PoW) blockchain with staking and liquidity mining, which makes it better than Ethereum’s PoW consensus, the white paper added.
What Products CTEX is Offering:
- The NFT Market Place
Ctex Swap – the process of exchanging one digital asset or crypto token for another – enables users to earn more by contributing to liquidity farms and staking in pools. Ctex Marketplace is among the fastest growing NFT marketplace.
- The Presence in Metaverse
Ctex Metaverse is a Ctex Chain digital real estate and gaming platform built on Ctex blockchain technology to introduce a next generation web3 experience.
- Can Handle 1 million TPS
This high-performance blockchain can handle up to one-million transactions per second while maintaining high security levels for both the network and users’ data. Average block time is 5 seconds.
Solutions CTEX is Offering:
Given the growing attention around blockchain technology that powers cryptocurrencies like Bitcoin, CTEX hopes to provide a solution for achieving scalability at lower costs and intends to solve the scalability issues with the existing blockchain platform.
According to the whitepaper filed by CTEX, the company intends to address issues such as low speed, security, high fees, interoperability, etc.
As per the whitepaper, the market for distributed ledger technology is anticipated to expand rapidly due to its use across a variety of sectors, including finance, digital voting, security, supply chain, and healthcare. The market for blockchain technology was estimated to be worth $10.02 billion in 2022, and from 2023 to 2030, it is anticipated to increase at a CAGR of 87.7%.
TOKENOMICS
Meanwhile, fully diluted market capitalization of Ctex native token stands at $7.5 billion with self-reported circulating supply of 6 billion, total supply of 710 million and Maximum Supply of 10 billion.
The end goal of the protocol is to connect all companies employees, as well as business assets into a single blockchain ecosystem that will allow businesses to be truly efficient, secure, and transparent.
Disclaimer: The article has been produced on behalf of CTEX by the 3.0tv team.
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