CreditCoin Debuts EVM-Compatible Mainnet and CreditWallet App for Users

• Creditcoin’s EVM compatibility facilitates smooth multi-chain interactions and lower costs.
• The CreditWallet app makes digital asset management easy by adding safety features.

Creditcoin, the leading L1 blockchain platform, has launched its EVM-compatible mainnet, marking a huge step toward expanding global financial inclusion with advanced blockchain technology. Along with this upgrade, Creditcoin introduces CreditWallet, a mobile wallet device intended to increase user engagement in the Creditcoin ecosystem.

Key Features of the Launch

The EVM compatibility upgrade enables developers to easily move current dApps and smart contracts to the Creditcoin network, allowing for smooth cross-chain interactions. The advent of the Universal Smart Contract (USC) layer streamlines these operations even more, allowing for secure, direct interactions across several blockchains without the need for traditional bridging mechanisms.

This upgrade includes two phases and is a significant upgrade from its predecessor, currently known as “Creditcoin Classic.” This phase enables developers to create smart contracts using well-known Ethereum-based programming languages, lowering costs and development time while boosting application possibilities on the Creditcoin network.

The second phase will provide Universal Smart Contracts, allowing for seamless data and event coordination across several layer 1 blockchains such as Bitcoin and Ethereum. This improvement intends to facilitate the implementation of multichain apps, establishing Creditcoin as a prominent player in Web3’s Universal Smart Contract Layer.

CreditWallet, a simple mobile app that transforms digital asset management, is at the heart of this upgrade. CreditWallet facilitates cross-network transfers between Creditcoin’s EVM and Substrate chains, providing users with a safe, non-custodial platform to manage their assets and connect with dApps across many ecosystems.

Existing Creditcoin Classic users will have their token balances moved after a snapshot conducted on August 21, 2024. They are recommended to rearrange their roles as nominators and validators on the new mainnet and utilize the upgraded dashboard to look into new staking options.