Centric Swap CNS
About
What Is Centric Swap (CNS)?
Centric Swap (CNS) was first conceived in December 2017. CNS is a Binance Smart Chain-based token that serves as the Centric Network’s on- and off-ramp. Centric Network itself is a dual-cryptocurrency payment network.
CNS can be traded freely on cryptocurrency exchanges and offers users access to Centric Rise (CNR) along with liquidity. A decentralized protocol governs the exchange between these tokens and self-regulates the supply to meet the changes in demand.
The vision of Centric is to alleviate what they see as the largest obstacle to the mass adoption of cryptocurrencies, which is price volatility. The Centric Foundation was established to advance the adoption of Centric Rise (CNR) and Centric Swap(CNS).
Centric has a dual-token model that rewards adoption and stabilizes over time due to its self-regulating supply. The idea behind the model is that, when a user purchases Centric Swap from a trusted cryptocurrency exchange, they can convert it to Centric Rise and benefit from its hourly growth.
This leads to the fact that at every moment when the Centric Rise is worth slightly more than Centric Swap, the user can convert CNR back to CNS and reap the rewards. This dual token system creates the conditions for a synthetic stable currency and can regulate the supply of Centric Rise to drive the market price of Centric Swap towards $1.
What Makes Centric Swap Unique?
The two tokens that make up the Centric dual-token model include the Centric Rise (CNR) and the Centric Swap (CNS).
CNR trades at a fixed price and has hourly growth, while CNS trades at the price set by the market. At any point in time, Centric Rise can be redeemed for Centric Swap and vice versa.
Holding Centric Rise grants a user predetermined hourly earnings on their investment in Centric Swap, ensured by the fact that the value of Centric Rise is constantly increasing in relation to Centric Swap. CNR trades at a predetermined price that is enforced by the Centric protocol and increases every hour when the protocol self-balances. 1 CNS will always convert to CNR at a fixed exchange rate of $1 USD of CNR.
In other words, Centric Rise (CNR) stores value, is a transactional currency, has a deflationary supply and an inflationary price and an hourly yield. Centric Swap (CNS) has liquidity, is traded on exchanges, has an elastic supply and a demand indicator. The Centric Protocol governs the token exchange, regulates the supply, is immutable, is censorship-resistant and is independently audited.
How Many Centric Swap (CNS) Coins Are There in Circulation?
Centric Swap (CNS) has a circulating supply of 1,726,750,305 CNS as of February 2021. No maximum supply data is available at the time.
How Is the Centric Swap Network Secured?
The Centric Protocol is governed by the Centric Rise smart contract. CNR and CNS are based on the BSC blockchain’s BEP20 standard.
Centric Wallet is available where users can store their Centric Rise and Centric Swap. It has features that were specifically designed for these tokens.
Where Can You Buy Centric Swap (CNS)?
Buying, trading and selling Centric Swap (CNC) is available on the following exchanges:
- AscendEX - USDT/CNS
- Probit - CNS/USDT
- Changelly Pro - BTC/CNS
- HitBTC - USDT/CNS
- MEXC - USDT/CNS
- HotBit - USDT/CNS
- PancakeSwap - CNS/BNB
- BSC Centric Swap Contract – 0xF6Cb4ad242BaB681EfFc5dE40f7c8FF921a12d63
- Rasta Finance - Rasta/CNS
- CroxSwap - CROX/CNS
- Bithumb Global - CNS/USDT
- Coin Tiger - USDT/CNS
If you are unsure of how purchasing cryptocurrencies works, check out our guide on how to buy Bitcoin.
AI Analysis
What is the Centric Swap (CNS) cryptocurrency good for? What are its main use cases?
Centric Swap (CNS) is a cryptocurrency designed to facilitate peer-to-peer transactions and to support various use cases within the blockchain ecosystem. Here are some of its main use cases:
Decentralized Transactions: CNS enables users to conduct transactions directly without the need for intermediaries, offering a more efficient and cost-effective way to transfer value.
Stability and Accessibility: CNS operates with a dual-token model where CNS is paired with Centric Cash (CNSX). This structure aims to provide stability and accessibility, allowing users to transact with a cryptocurrency that can help mitigate volatility.
Earning Rewards: Users can earn rewards by holding CNS tokens or participating in liquidity pools. This incentivizes long-term holding and provides users with additional ways to generate income through their involvement in the platform.
Integration with DApps: CNS can be used within decentralized applications (DApps) built on its platform, expanding its usability in various contexts such as decentralized finance (DeFi) and gaming.
Social Impact and Financial Inclusion: Centric promotes the idea of financial inclusion and aims to empower individuals in developing regions by providing access to financial services through its cryptocurrency.
Token Swapping: The platform allows users to swap between CNS and CNSX, enabling flexibility and catering to different user needs within the cryptocurrency market.
E-commerce: CNS can be used for online transactions in e-commerce settings, enabling businesses to accept cryptocurrency as a form of payment.
As with any cryptocurrency, it’s vital for users to conduct their own research and understand the specific features and risks associated with Centric Swap and its tokens before investing or using them.
What blockchain does Centric Swap use? Is it its own blockchain or built on top of another?
Centric Swap operates on its own blockchain called the Centric blockchain. It is designed to facilitate the exchange of Centric's digital currencies, Centric Cash (CNS) and Centric Rise (CNR). The Centric blockchain is tailored to support its ecosystem and functionalities, distinct from other established blockchains like Ethereum or Binance Smart Chain.
Is Centric Swap programmable? Does it support smart contracts or decentralized applications?
Centric Swap is a decentralized exchange (DEX) that is part of the Centric ecosystem, which includes Centric Cash (CNC) and Centric Rise (CNR). As for programmability, Centric Swap itself is primarily focused on trading and swapping tokens rather than being a platform for deploying smart contracts or decentralized applications (dApps).
Typically, platforms like Ethereum or Binance Smart Chain provide the infrastructure for creating and executing smart contracts and dApps. If you are looking for programmability and support for smart contracts, you might want to consider those prominent blockchain networks instead.
If there have been updates or changes to the Centric ecosystem since my last knowledge update, I suggest checking the official Centric website or their community resources for the most current information.
How fast are Centric Swap transactions? What is the typical confirmation time and throughput (transactions per second)?
As of my last update, Centric Swap is a blockchain-based platform designed primarily for crypto trading and transactions. Its specific performance metrics can vary depending on various factors, including network congestion, the specific implementation, and protocol changes.
Typically, blockchain platforms can have varying transaction speeds and confirmation times ranging from a few seconds to several minutes based on network conditions and the underlying technology. For example, many decentralized exchanges (DEXs) on Ethereum may have slower confirmation times due to network congestion, whereas platforms built on more scalable blockchains (like Solana or newer protocols) might offer much higher throughput and quicker confirmations.
For Centric Swap specifically, you might expect confirmation times to be within a range of seconds to a couple of minutes, while throughput could be in the range of several transactions per second (TPS), potentially up to hundreds depending on network conditions.
To get the most accurate and current figures for Centric Swap, I recommend checking their official website or relevant community channels for the latest updates, as performance metrics can change with technological advancements or network upgrades.
How much data can I store on the Centric Swap blockchain? Does it support on-chain data storage?
As of my last knowledge update in October 2023, Centric Swap primarily focuses on facilitating cryptocurrency exchanges and providing liquidity solutions rather than serving as a general-purpose blockchain platform for extensive on-chain data storage.
Typically, blockchains that are oriented towards financial transactions, like Centric Swap, do not emphasize on-chain data storage capabilities to the same extent as platforms like Ethereum or others that support smart contracts and decentralized applications (dApps). In general, most blockchains have limitations on the amount of data that can be stored directly on-chain. This is often due to scalability, cost, and performance considerations.
If you are looking for specific capabilities or limits regarding data storage on Centric Swap, I recommend checking the official documentation or resources provided by Centric Swap to get the most accurate and up-to-date information.
Contact Us About Centric Swap
Are you a representative of the Centric Swap project? Send us a message.