What is Layer 2? A New Opportunity for Public Chains

The Rise of Layer 2: A New Opportunity for Public Chains

Layer 2 rises, sometimes attract a lot of new projects, although the new consensus menacing, but the public nature of the track competition or technology chain and projects. It is worth mentioning that, CSC intelligence chain of hacker marathon is in full swing, this remarkable contest will be given to CSC bring a lot of good projects.

The future development trend of blockchain finance must be to allow traditional finance to use blockchain technology. At present, the increment of the blockchain industry is still in the development stage, and the importance of the underlying technology is not so prominent, but once it enters rapid development, the existing public chain technology that can be used is the top priority.

The competition of core consensus

As a smart contract platform, how is CSC different from other public chains?

Analyzing a known chain is core competitiveness, in addition to other underlying technology, ecological and data, but also to consider the following indicators: 1, the core consensus mechanism; 2, node threshold and quantity; 3, processing speed, cost and control mode; 4, token; 5, flexible and scalable platform; 6, asset security and stability.

Let me talk about the core consensus mechanism first. The CSC smart chain uses a unique CPoS consensus.

The new consensus CSC mechanism opens a whole new ecological way, with P O S consensus as the underlying mechanism, and then combined with P O A a blocking mechanism, simply put, is the pledge by CET mining node to validate the campaign mode.

Regarding the threshold of nodes, CSC limits the upper limit of the number of 101 verification nodes, that is, only the top 101 nodes in the number of pledges can become verification nodes, thereby participating in block production and obtaining block rewards. And CSC also stipulates that the lower limit of the pledge amount of verification nodes is 1w CET, and nodes less than this pledge amount are not eligible to become verification nodes.

The CSC in this mode not only achieves decentralization, but can also generate blocks in 3 seconds, and the transaction fee is also very low. The current transfer fee is less than 0.01 USDT.

Empower CET to capture more values

CSC’s unique consensus on the necessity of creating a mechanism to verify that the node pledge, CET will be given a pledge of identity tokens, as the use of CSC’s built-in circulation tokens, and their fuel. With the pledge, the node can return through incentives, to encourage users to actively participate in the pledge, and then drive the entire public ecological chain of development.

The CSC ecology also gives CET more application scenarios. CET has not only become the fuel fee for transfers and contract calls on the CSC chain but also pays for the deployment of smart contracts on the CSC. As the native token of CSC, CET carries more commercial value and circulation rights, and it has huge commercial potential.

Future CSC ecological building gradually improves, as the chain D E F increase and other projects, CSC community will form a decentralized autonomous organization DAO, then CET as well tokens chain, in community governance, voting and other aspects of the decision will play an important role.

An open project support fund

A city needs both good companies as well as residents to flourish. By the same token, to build an ecosystem, three core elements are often required, i.e. projects, users, and financial support.

To build CSC, a new blockchain city with open deployment, the CSC team should bring together the existing users, resources, and developers in the market as soon as possible. CSC’s $10 million support fund and the CSC Global Hackathon Grants go hand in hand. Both of them focus on cultivating projects in popular sectors (such as DeFi, NFT, insurance, and oracles) and aim to foster the CSC ecosystem through coordinated development in multiple fields. In addition to the $10 million support fund, CSC has also set up a support fund for the metaverse, which is the most popular blockchain sector at the moment. Through the metaverse fund, outstanding projects that demonstrate great prospects in the early stage can receive lump-sum funding of $200,000. Furthermore, participating developers of the CSC Global Hackathon Grants may even share the prize pool of up to $300,000 and receive the corresponding resources, such as market promotion, technical support, etc.

In 2021, major public chains have moved faster to optimize their ecosystem model. While striving to increase the ecosystem value, public chains should fully motivate all participants through more reasonable principles of distribution to promote the sustained and sound growth of their ecosystem. For instance, economic incentives should be provided for project teams and ecosystem contributors. CSC commits itself to capture first-class projects through its technologies and incentives, in an attempt to gain the upper hand in the future competition against its peers and secure a foothold in the public chain race.

The establishment of an ecosystem often requires three core elements: projects, users and financial support. It’s like building a city: you have to have good companies to develop on your side, and you have to have residents living in this city.

How to build CSC, a new open deployment city, naturally involves quickly recruiting existing users, resources, and developers in the market. CSC million dollars to support the Fund and the Global hackathon contest footed, go hand in hand, focus on supporting DeFi, NFT, insurance, oracle and other popular track early ecology project, to achieve ecological deploy multiple joint developments of the field. CSC has not only set up tens of millions of US dollars support fund but also set up a special support fund for the most popular metauniverse track. At the same time, it has established a special support fund for the metaverse. The early outstanding potential projects can receive a single item of funding support of 200,000 US dollars. Participate in the CSC global hackathon. The developer team of the competition even has a chance to win a generous reward of 300,000 US dollars, and there will be corresponding marketing, technical support and other resource services.

In 2021, the major public ecological chain has begun to accelerate the optimization mode, in the public chain of the ecological value growth process, through more rational distribution of the principle of full motivation all participants for the entire project participants and contributors to economic incentives, can be more good to promote the healthy and sustainable ecological development. The moment CSC is committed from the technical level and the level of motivation, seize high-quality projects, it is to follow the opportunity strong against other public chains, a place in the public chain track.