Coreum Now Listed in Coins.ph
With this integration, the exchange now offers a total of 64 tokens from a diverse range of 15 distinct blockchain networks.
- Coins.ph has broadened its supported tokens by adding Coreum, bringing the total offerings to 64 tokens across 15 different blockchain networks.
- Coreum is available on both its main blockchain and the Ripple blockchain; however, Coins.ph only supports deposits for Ripple’s Coreum.
- Users are advised to transfer listed tokens via specified networks to avoid unrecoverable losses.
The local cryptocurrency exchange Coins.ph has expanded its platform’s supported tokens by adding Coreum, marking the latest addition to its digital asset offerings. With this integration, the exchange now offers a total of 64 tokens from a diverse range of 15 distinct blockchain networks.
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Coreum in Coins
In addition to its main blockchain, the Coreum token is also available on the Ripple blockchain. However, unlike Coreum, where deposits and withdrawals are both possible, Coins.ph only supports deposits for Ripple’s Coreum.
The exchange reminds users to only transfer the listed tokens via the specified networks to their Coins accounts. It should be noted that transferring unsupported tokens, or employing unsupported networks, will result in unrecoverable losses.
For more information about the supported tokens and networks on Coins.ph, click here.
What is Coreum?
Coreum is a layer-1 blockchain built on the CosmosSDK and designed as an enterprise-grade “super ledger” suitable for businesses of all scales, ranging from startups to large corporations.
According to its website, it boasts a transactional speed of up to 7,000 transactions per second (TPS) and featuring Smart Tokens that align with ISO 20022 standards, Coreum guarantees rapid and economical transactions on a secure Proof-of-Stake (PoS) network.
Additionally, as an Enterprise-Graded Blockchain (EGB), Coreum highlights programmability by introducing ‘Smart Tokens’ which facilitate diverse applications leveraging WebAssembly (WASM)-based smart contracts.
Coreum to PHP
Token Use case
The Coreum token serves various essential roles within the Coreum network, encompassing a range of use cases.
The token allows users to utilize the native token to pay transaction fees when executing transactions on the Coreum blockchain which facilitates a seamless processing of transactions within the network.
Another application of the Coreum token is through smart contracts. The token is integral to the facilitation and execution of smart contracts on the Coreum blockchain, providing a foundation for the implementation of programmable and self-executing contracts.
Moreover, token holders contribute to both network security and governance by staking their tokens. This involvement grants them the power to influence decisions regarding network upgrades and other key changes within the Coreum ecosystem. The participants in the Coreum network, including users and validators, receive token rewards for activities like validating transactions or providing computing resources.
In addition, the token also provides holders access to decentralized applications and services within the ecosystem, enabling interaction with various decentralized platforms and functionalities. Further, the token allows liquidity provision within decentralized exchanges and liquidity pools, enhancing the overall efficiency of the decentralized financial infrastructure.
Furthermore, Coreum supports asset tokenization, utilizing the native token to represent ownership or access to tokenized real-world assets. The integration of Smart Token technology underscores the adaptability and versatility of the Coreum ecosystem in the tokenization of real-world assets.
Recent News on Coins
A recent report by Circle, a global fintech company and issuer of USDC, featured the partnership between Coins.ph and Grab as a significant collaboration in the Southeast Asian region.
Moreover, Coins.ph also launched an upgraded referral program that incorporates rewards from transactions on Coins Convert, the platform’s crypto buy-and-sell feature. Referrers now receive a 10 basis points commission on their referee’s Convert transactions.
In early January, the firm’s Australian division secured registration with AUSTRAC as a Digital Currency Exchange, enabling it to provide cryptocurrency exchange services in Australia.
Last December, Coins.ph also integrated BRC-20 inscription services which aims to broaden user access to digital asset services.
This article is published on BitPinas: Local Crypto Exchange Coins.ph Now Supports Coreum
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