NEW YORK, NY / ACCESSWIRE / November 11, 2019 / At 10:00 on Nov 11, CoinEx Chain completed the launching ceremony of the mainnet.
In the launching ceremony, five renown institutions: Matrixport, Bitcoin.com, BTC.com(Bitmain), ViaWallet, and IFWallet participated as the starting nodes in the initiation and testing of the CoinEx Chain mainnet.
At 10:03:04, the genesis block of CoinEx Chain was successfully created by one starting node ViaWallet, and then more blocks began to generate. The official launch of CoinEx Chain Mainnet signaled the successful landing of the world’s first public chain built for the decentralized exchange (DEX).
What does the launch of CoinEx Chain Mainnet mean for CoinEx Chain?
1. CET transforms itself from an exchanged-based token to a native token of the public chain
After the mainnet was launched, the CoinEx exchange would be upgraded, and later the withdrawal of ERC20 CET and the deposit of CET(Mainnet) would become available. CET holders can complete the mainnet mapping(token swap) through the operation of deposit and withdrawal. CET then achieved its transformation, since it will not only exist as an exchange-based token, but play the role of the base currency for the entire ecosystem of CoinEx Chain, and obtain richer application scenarios and higher empowerment.
2. CoinEx Chain Nodes Election officially launched
On Nov 10, Nodes Pre-election that lasted nearly one month finally came to an end, and it was followed by the official global nodes election. To become a validator, the nodes participating in CoinEx Chain Nodes Election will need to withdraw CET(Mainnet) from CoinEx to CoinEx DEX and complete a transaction.
After the deployment of the major nodes, they started to generate blocks and meanwhile the wallets were put online too. Currently, the wallets that support staking(voting) are ViaWallet, IFWallet, CoinEx DEX wallet, etc. The users need to withdraw their CET to an APP of the wallets that support staking and then they can proceed to vote or trade.
3. CoinEx Chain embarks on a new journey
From the release of the whitepaper to the launch of the testnet, and from the release of the nodes election rules to the launch of the mainnet, CoinEx Chain has evolved from merely a concept to a functioning product at an extraordinary speed in just half a year. After the mainnet was launched, CoinEx Chain would embark on a new journey. All roles in the blockchain such as communities, investors, project teams, exchanges, media and wallets can truly participate in the construction of the CoinEx Chain ecosystem and work together to create a safer, smoother and more efficient decentralized exchange.
4. The decentralized exchange CoinEx DEX was born
After CoinEx Chain Mainnet went online, a real decentralized exchange CoinEx DEX (dex.coinex.org) that can be used in a large scale was officially launched. CoinEx Chain has an extremely high TPS and security, and perfectly solves the triangle problems of scalability, decentralization and security in the blockchain industry by building an ecosystem with three chains in it.
In addition, it’s very simple to issue tokens on CoinEx DEX and creating a smart contract for it is no longer needed. The users only need to fill in some parameters to complete the process and easily create a trading pair for the token.
It’s learned that after the launch of the mainnet, one of the starting nodes IFWallet which finished its deployment has successfully issued its token – IFT on CoinEx Chain. IFT is the first token issued and traded successfully on CoinEx DEX besides the native token CET. It is issued in the form of giveaways, with the total amount of 2.1 billion; and the distributed amount will be reduced by half at each block height of 864,000. As of this moment, the CoinEx Chain mainnet is running stably and smoothly.
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