Crazy Internet Coin and the CIC blockchain have been poised to disrupt traditional DeFi by setting new precedents that others must follow.
CIC Chain have set the bar high in terms of achieving their goals and maintaining a high standard of operation. The team at CIC Labs have said they will always keep a strong emphasis on sustainability and responsibility, learning from mistakes made by other projects in the cryptocurrency space. Hindsight is a powerful tool, which unfortunately we often only get to experience when things go wrong. So what have we learnt?
Sustainability is important, both economically and environmentally – over the past few years there has been a lot of negative press about the environmental impact of mining Bitcoin and other PoW (Proof of Work) blockchains. CIC Chain utilises a unique and progressive consensus mechanism, which we call ‘Proof of Refraction’ which makes it up to 90% more efficient than other chains. This means up to 90% less energy is used even as we scale. We can also learn from the collapse of LUNA and and their algorithmic stable coin (UST) that developers need to be more responsible, due to the overwhelming sell pressure (which contributed to the crash) combined with unsustainable rewards. CIC Chain will utilise small and competitive fees across its entire eco-system to generate all rewards distributed by our chain, to reduce this risk.
Responsibility is another key area that we feel is not taken seriously. There are unfortunately overwhelming amounts of negligence in the cryptocurrency space and CIC Chain aims to set the standard you should expect from your investments. We will take all necessary security measures to ensure that our eco-system is secure and sustainable and create a decentralised governance mechanism, where you can use your CIC to help improve our network.
Education will play a huge role in our journey towards mass adoption. Offering the best technology we can is not enough and that’s why CIC Chain is building a huge ‘Learn 2 Earn’ platform that will provide sustainable rewards for users who complete our short and jargon free educational courses. We aim to empower the next generation of cryptocurrency enthusiasts, artists and developers through education and then provide them the tools they need to get hands on (CIC rewards that can be used in our eco-system, or to build on our platform).
CIC Chain has ambitious plans to sustain measurable growth over a long period of time. We aim to continuously expand our eco-system to increase utility whilst also empowering developers to do the same. Be sure to join our social channels and keep following, as we disrupt the cryptocurrency space.