What Is Credictoin (CTC)?
CTC is the native coin of the Creditcoin Network, which is a public blockchain designed for lenders and borrowers. The main aim of Creditcoin is to provide people with a decentralized global credit system. By using the system, those without access to conventional banks can still borrow money. Take a look at the Creditcoin price chart above to see the current CTC price.
Creditcoin records users’ credit transactions. This way, it establishes a public and transparent network of credit history and loan performance. Therefore, by using this network, the trustworthiness of potential lenders or borrowers can be easily verified.
Besides lending and borrowing, the Creditcoin Network also allows users to develop, invest, and mine. Developers can use the Credal system to run their credit lending applications on the Creditcoin network. Investors can join Gluwa Capital (a venture debt fund) or open a savings or bond account on Gluwa Invest (investing app). Miners can set up nodes to secure Creditcoin’s loan economy and earn rewards.
The Purpose of CTC Coins
Creditcoin crypto assets can be used as payment tokens or reward tokens. As a payment token, CTC is used to pay for the Creditcoin network’s transaction fees. Though after a year passes, these fees are paid back to users. As a reward token, CTC is used to reward miners for operating nodes on the network.
Tokenomics of CTC Coins
The max supply of Creditcoin tokens is 2 billion. New tokens are issued through mining rewards. However, once the max supply will be reached, no new tokens will be created.
If you plan to buy Creditcoin tokens, note that the CTC price is liable to change. This mainly happens because, similarly to the pricing of other digital assets, the volatility of the overall crypto market has an effect on the CTC price.