Since the deep recession of the algorithmic stablecoin UST, Terra, a public chain built around UST, has faced a crisis of enormous proportions, the effects of which reverberated throughout the crypto market. Confidence in the cryptocurrency, which is already volatile due to bearish market conditions, continues on a bullish downward spiral, with the price of mainstream assets like bitcoin and ethereum seeing a massive drop of over 20% in a single day Has been. The failure of the Terra Chain also kickstarted a series of vicious chain reactions in other public chains, on-chain projects, crypto communities, and users around the world.
However, the sluggish market environment has not hindered the progress of the public chain, Cube Network (formerly Cube Chain). On June 6, two weeks after the Cube Network testnet went live, the Cube Network mainnet was launched to much fanfare – the number of on-chain addresses reached 1,44,000, while the number of on-chain transactions exceeded 200,000. Went. The launch of the testnet and the subsequent launch of the mainnet within two weeks is a testament to the technical prowess of the Cube Network, and the world’s leading Web3 blockchain was unveiled to the world.
Since the launch of Cube Network’s mainnet, Cube Network’s ecological roadmap has begun to take shape, which will bring tangible benefits for on-chain projects in the near future. Several well-considered features reflect the status of the Cube Network as a leading blockchain.
Firstly, Cube Network adopts advanced technology to fully guarantee security for on-chain projects. Cube Network adopts a modular layered architecture (divided into three layers: execution layer, settlement layer and data availability layer) with built-in rollup and unlimited scaling. Projects deployed on the Cube Network can enjoy Cube’s low rates and high transaction speeds.
Secondly, the Cube Network adopts the “Chaos” consensus that comes with high throughput, decentralization, security, and fast transaction confirmations. A decentralized cross-chain communication protocol called “time crossing” is also used in the cube network. With “time crossing”, cross-chain DeFi contracts can be invoked and are compatible with the Cosmos IBC protocol, enabling seamless migration of applications within the ecosystem.
Third, Cube Network is fully compatible with the Ethereum protocol, EVM, and the Cosmos system, supporting seamless migration of applications and projects within the ecosystem. In addition, the Cube Network creates a new multi-chain interactive ecosystem to support cross-chain contract calls. The multi-chain infrastructure network built on the cross-chain communication protocol brings immense benefits to GameFi related applications.
Users are the foundation of the ecological prosperity of any public chain. Cube Network attaches great importance to user welfare and has taken various measures to ensure the benefits to its users. Community opinion is highly valued, and efforts have been made to ensure deeper collaboration with users. Cube Network empowers users to vote monthly on Cube Network community proposals and outstanding projects. In addition, users can also earn high returns by staking Cube Network tokens. Cube Network will soon launch a user airdrop event for approximately 2 million Cube Network tokens. Users only need to have full interactive actions within the Cube Network ecosystem to receive AirDrop rewards. More information about Cube Network’s airdrop event can be found here.
Public chains attribute their success to their communities and Cube Networks is no exception, having created a range of programs and programs aimed at enriching their ecosystem. Cube Networks places great importance on community building and support and has allocated 20% of the gas fee to the developer community behind the network to further the development effort. In addition, a range of financial support programs and training activities will be launched for developers, and high-quality projects will be selected to join the Cube Network Incubator to foster and support further innovation. A recruitment program for Cube Network ambassadors, aimed at fostering a passion for blockchain and encouraging user participation, has been launched.
The road to success of a public chain in a dynamic and multi-faceted competitive landscape is a long process. However, challenging market conditions can lead to better and flexible products. Cube Network will continue to strengthen its capabilities to not only meet the needs of users for performance, security and transaction speed, but also to protect the interests of its community.