Every year millions of USD are stolen or lost. There are many projects out there that provide top-notch security solutions. One such platform is Shentu Chain. It is one of the leading dPoS blockchains out there with incredible security features.
In this blog post, you will learn more about the Shentu chain and its native token, CTK.
What Is Shentu Chain?
Shentu Chain is a decentralized proof-of-stake blockchain developed with the Cosmos SDK. Its mission is to serve as a stable base upon which blockchain infrastructure and distributed applications can be constructed safely.
Some of its main components are:
- DeepSEA: It is a safe programming language and compatible compiler toolset for the Shentu Chain virtual machine, which also supports Ethereum WebAssembly and Ant Financial's AntChain. DeepSEA was developed by Deep Sea Exploration and Analysis (DeepSEA).
- Shentu Virtual Machine: Users can access, verify, and combine information about smart contracts and blockchain security when using the Shentu Virtual Machine (CVM), which is fully compatible with the Ethereum Virtual Machine (EVM). This makes it possible for smart contracts to modify their activity according to the security credentials of other smart contracts.
What are CTK Tokens?
CTK is the official native token of the Shentu Chain blockchain technology.
There are two primary applications for the CTK token:
- On CertiK Chain, the transaction fees and the fees for deploying smart contracts are paid using CTK.
- Staking through the use of CTK by nodes, which also serves to safeguard the network.
- Voting: CTK holders can propose and vote on enhancement recommendations for the CertiK Chain.
Current trading price: $0.6873
Current market capitalization: 63.27 million
Total supply: 105.63 million
History of Shentu Chain
CTK was initially established in 2018 under the name CertiK, and it was developed by two computer science professors working at prestigious colleges in the United States named, Professor Zhong Shao and Professor Ronghui Gu. The project formerly known as CertiK Chain was rebranded as Shentu Chain on August 31, 2021. The chain has expanded at a breakneck speed while maintaining its position at the forefront of crypto-asset security and assurance since the introduction of the Mainnet in November 2020.
Features of Shentu Chain
Shentu Shield is a decentralized, on-chain pool that can compensate users for assets that have been lost or stolen. ShentuShield is a novel alternative to insurance for the reimbursement of crypto assets. It functions as a decentralized pool in which risk is shared.
Token holders interested in safeguarding their funds against the risk of theft or loss can do so with the assistance of ShentuShield by purchasing coverage. When Shields are bought, funds are set aside to collateralize the protection they provide entirely.
Users can stake, and if they win, they will receive rewards from the collateral pool. The APY is subject to change but will always be at least 12% APY. Gaining incentives for the collateral contributed to the pool is lucrative and advantageous for the ecology.
Skynet uses automated technology to examine deployed smart contracts for various known vulnerabilities at scale. Skynet carries out this process. Before a transaction is processed, the Security Oracle generates precise security scores for smart contracts. These values represent the likelihood that hacks or errors in the code will compromise a transaction.
Skynet is made up of various kinds of technology, both static and dynamic, which we refer to as Security Primitives. The scanning of smart contracts is accomplished with the help of Security Primitives, which are analogous to security service endpoints.
A smart contract will be subjected to five exhaustive security tests to complete one round of the Skynet. Because it demands such a large amount of computational resources, completing Security Primitives could take up to six hours, depending on how complicated it is.
The user's DeepWallet can be accessed through a web browser. It allows them to conveniently see their token balance, redeem delegated incentives, and send and receive tokens with other users. DeepWallet is unlike other wallets since it contains additional capabilities allowing users to delegate stakes and deploy smart contracts. These functionalities are not found in ordinary wallets.
On-Chain Contract Specification
Smart contract publishers have the option when using the Shentu Chain, to store ABI (the Application Binary Interface) on-chain alongside deployed smart contracts. Users can interact effortlessly with smart contracts because of this functionality, which is not in many other blockchain ecosystems. Users no longer need to manually keep track of and copy-and-paste ABIs when dealing with smart contracts.
What Makes Shentu Chain (CTK) Unique?
Here are some of the key features that make Shentu Chain unique:
Security-first design: Shentu Chain is designed with security in mind from the ground up. The platform features several innovative security features, including the DeepSEA security scanner, the Shentu Certified Virtual Machine (CVM), and the Decentralized Security Oracle.
High scalability: Shentu Chain is designed to be highly scalable, handling millions of transactions per second.
Low transaction fees: Shentu Chain offers low transaction fees, making it a cost-effective platform for various applications.
Cross-chain compatibility: Shentu Chain is cross-chain compatible, allowing users to transfer assets between blockchains.
How to Buy CTK Tokens?
CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including CTK, users can now trade easily and seamlessly.
To start trading/buying/selling on CoinEx, visit the website first. Next, you must create a CoinEx account.
Once you create your CoinEx account, this is how to purchase and sell CTK on their exchange:
- Access your CoinEx account by visiting the website or launching the app. Enter your email and password and log in.
- Put funds in your account to make CTK purchases. To add the funds/amount to your CoinEx account, you can use a credit card, etc.
- Once you have funds in your account, you may buy CTK by going to the CTK trading page and choosing the trading pair you wish to use.
- Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for CTK. Put in your order and the quantity you want to buy.