Decentralized applications (DApps) are gaining popularity among developers because of their potential to enhance security, promote transparency, and empower users through decentralized control. However, as the DApp landscape evolves, developers face many infrastructure challenges that impede innovation and widespread adoption.
One of the most pressing issues lies in the vulnerabilities of traditional smart contracts. While smart contracts have opened new horizons for blockchain transactions, they are not immune to security risks and complexities.
Interactions with external smart contracts can be exploited through reentrancy attacks and other loopholes, leading to significant financial losses and undermining trust in decentralized systems. 2023 saw hacked funds worth $179 million lost to smart contract vulnerabilities, according to the Crypto HackHub Report. The frequency and impact of these exploits underscore the urgent need for more secure, built-in solutions to safeguard assets without relying on external contracts.
Scalability and cost efficiency present additional hurdles. Many blockchains struggle to maintain optimal performance as user demand grows, often facing unpredictable fees and network bottlenecks that degrade the user experience. These challenges make it difficult for developers to build applications that are both cost-effective and capable of handling large-scale adoption.
Cross-chain interoperability adds another layer of complexity to the developer’s toolkit. In an ecosystem where multiple blockchains operate in silos, the inability of DApps to communicate across different platforms presents a major obstacle to innovation. Developers need solutions that enable seamless interaction between DApps on various blockchains to come up with new business models and expand user engagement.
These multi-layered challenges call for foundational innovation in the blockchain space, and programmable smart tokens are the result of such effort. By providing natively programmable features for automated business logic and customizable use cases, smart tokens address critical security vulnerabilities, enhance scalability, facilitate interoperability, and support regulatory compliance.
Thriving blockchain ecosystem powered by smart tokens
Coreum is a third-generation enterprise-grade blockchain designed to serve as a robust infrastructure for decentralized applications. Coreum’s Smart Tokens are designed to surpass standard tokens by embedding natively programmable features, allowing for customizable automation, governance and the tokenization of assets —all without the complexities or risks associated with traditional smart contracts.
Integrated directly into the blockchain’s memory, Smart Tokens eliminate the need for external smart contracts, creating a lightweight, scalable and secure environment for DApp development. While still compatible with traditional smart contracts, their instant finality, cost-efficient transactions and high flexibility offer a seamless experience for both developers and users.
Transparent, predictable fees that adjust to network demand allow businesses and institutions to efficiently manage their onchain operations. Moreover, Coreum’s ISO 20022 compatibility and interoperability across over 100 chains unlocks new opportunities for cross-chain compatibility, enhancing the reach and functionality of tokenized real-world assets.
In the last quarter, Coreum’s ecosystem has rapidly evolved with new artificial intelligence integrations, partnerships, and real-world applications that are tackling industries ranging from NFT trading to video streaming.
Here are the three real-world use cases built on Coreum’s Smart Token technology:
The future of SocialFi networking
Coredin is a professional networking platform that empowers freelancers, content creators and businesses to elevate their growth and connect within a trusted network. As a third-wave Coreum grantee, Coredin leverages Smart Token technology to empower users to monetize their expertise and showcase their knowledge through onchain credentials.
SocialFi on @cored_in offers unique ways to earn, build trust, and control your data in a decentralized environment.
— Coreum (@CoreumOfficial) November 6, 2024
Enjoy spam-free, pay-to-message interactions, microblogging with tipping, and staking on professionals.
Learn more: https://t.co/jsrH2w4Neo pic.twitter.com/ovKkKFiExj
With features like subscription-based access to content and microblogging with tipping, Coredin delivers modernized infrastructure for SocialFi networking, removing intermediaries to reduce fees and allow users to be in direct control of their data. As a decentralized alternative to LinkedIn, Fiverr, and Quora, CoredIn offers a secure, future-proof platform for professional growth where trust, security and opportunity converge.
“We are creating a community that is built on trust because the members are going to be the validators in the network,” Isabel from the Coredin team said, adding: “You can now certify your professional experience in an easy way with blockchain.”
Tokenizing access through blockchain security
As a secure access application, Tokenproof connects digital token ownership to real-world experiences, enabling users to unlock events, exclusive offers and token-gated opportunities through Coreum’s blockchain. By providing verifiable access without requiring users to use a digital wallet, Tokenproof simplifies how people engage with event ticketing.
Source: Tokenproof
For brands, Tokenproof offers customizable token-gating tools to create engaging, data-backed experiences. As a Coreum Wave 3 grantee, Tokenproof leads in tokenized access solutions, leveraging Coreum’s infrastructure for smooth interoperability and easy user experience across blockchains.
Dynamic NFT marketplace
NFT trading has quickly gained traction as digital assets become more mainstream, but standard NFT marketplaces can fall short of user and creator needs. Bidds, a sophisticated NFT marketplace built on Coreum, leverages Smart Token technology to solve these issues, providing enhanced functionality for creators and collectors alike. Coreum’s programmable Smart Tokens allow Bidds to integrate features such as automated royalties, event-triggered updates, batch transactions and other natively customizable utilities, making NFT trading a seamless and efficient experience.
Bidds also gives users increased control over transactions with private, wallet-specific counteroffers and instant asset transfers. These features allow users to manage NFTs with flexibility while transparent, deterministic fees ensure cost-effectiveness for creators and collectors.
On @BiddsonCore, batch transactions bring efficiency to NFT trading.
— Coreum (@CoreumOfficial) October 11, 2024
Mint, buy, sell or transfer in bulk with one simple transaction. pic.twitter.com/a7WKgPeUDG
Additionally, Bidds supports liquidity insights, advanced trading analytics and market trend information, allowing users to make data-driven decisions. Combined with Coreum’s crosschain interoperability, Bidds enables NFT creators and collectors to connect with a larger blockchain ecosystem, positioning it as a leading platform for trading digital assets.
Smart solutions for enterprise-grade DApp development
Coreum’s Superledger enhances enterprise-grade blockchain development by transforming how decentralized applications are built and secured. With smart contract vulnerabilities leading to over $3.8 billion in losses in 2022, Coreum addresses these challenges by enabling smart contract functionality at the native blockchain level through its Smart Tokens. This approach mitigates the security risks typically associated with external smart contracts while also enhancing performance and scalability for decentralized applications.
Integrated artificial intelligence tools within Coreum streamline development, boosting security and customizability for developers to build sophisticated and secure DApps. For institutions managing tokenized real-world assets, Coreum provides a reliable, scalable and ISO 20022-compliant infrastructure, enabling efficient asset management for global operations.
The future of native DApps
Coreum contributes to the future of DApp development and real-world asset tokenization as a key player with native smart contracts, integrated artificial intelligence, crosschain interoperability and ISO 20022 compliance. Coreum's native DApps are expanding the blockchain ecosystem with real-world utility and innovative use cases. Leveraging Coreum's infrastructure, these applications demonstrate the transformative potential of blockchain across industries.
As blockchain adoption accelerates, Coreum continues to drive the development of secure applications that integrate with real-world needs, solidifying its position as a leader in the Web3 ecosystem.
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