Why is the public chain Coopunion Network worthy of attention?
Last summer, Polygon got a hit for aggregating various Layer 2 scalable solution and adopting SideChains solution. It was regarded as the Indian Ethereum for the team is in India. This is not accurate, because Polygon is a Layer2 network while Ethereum is a Layer1 network.
At present, Layer 2 network attached much importance as if the story of Layer1 network is over and Ethereum is the only Layer1 network. It seems that side chains, sharding, state channels or even all the public chains that compete with Ethereum will become Layer2 network of Ethereum at last. The technology and community of Ethereum are indeed strong, but I think this is just what minimalists want. In fact Ethereum shows many defects, such as high Gas fee, low speed, and too much influence from the founder. This gives potential opportunity for many public chains which don’t intend to become Layer2 network of Ethereum to thrive.
According to Defillama, Footprint and other websites, there are 109 public chains running today, of which Ethereum dominated a market share of 63.045%, BSC 7.034%, Terra 5.705%, Avalanche 4.947%, Solana 4.594%… …
There is no doubt that the landscape of multiple chains has been formed. The emergence of Cross-chain Protocol has enabled the transfer of assets between different chains. Users have different needs for different public chains. At last, it is possible that various chains and ecosystems can take advantage of each other’s strengths, forming a cooperative rather than competitive relationship.
In fact, the rise of BSC, Sonala, Pollkadot, Avalanche, Fantom and other public chains also proved that the development of Layer1 network is not over, and there are only two routes to grow: evolving from the Ethereum or developing from the beginning.
CUN’s Story: Evolving from Ethereum
Coopunion Network (CUN) chose the former route. Coopunion Network, a distributed network infrastructure that evolves from Ethereum. It aims to build a blockchain network and ecosystem with high performance, high security, and low cost to improve user experience, reduce the costs, and protect users’ assets in the digital world. Ultimately CUN will be a DAO-governed network.
CUN community believes that the next-generation public chain must be evolved and developed from Ethereum. The well-developed BSC has proven this. Evolving from Ethereum also showed that the CUN recognize Ethereum’s position and the contribution it has made in the industry. But the current achievements are not enough, because the public chain must be promoted for meeting the needs of mass adoption in business and reducing high transaction costs. Based on Ethereum, CUN improved its performance and reduced the Gas fee. More importantly, CUN will become a community-led public chain instead of a founder-led public chain like Ethereum.
In 2020, a group of people with strong belief in Bitcoin and extensive experience in the blockchain industry decided to establish a new blockchain network. This is Coopunion Network. CUN has no founder, only people who hold the same ideas follow the rules to create the network which will be governed by the community in the future.. Various Dapps will be developed on CUN network in the next to practice the spirit of blockchain and help to achieve business success in the web 3.0 era.
Similar to Vitalik minted Bitcoin to Ethereum, CUN network supports all the functions of Ethereum network, including smart contracts and digital assets under CUN20 and CUN721 standard. At the same time, CUN created the mainnet COIN CUNP to pay Gas fee. It is also the perpetual certificate that quantifies users’ contributions. CUNP will distribute to community contributors under the generation rules until the application ecosystem becomes prosperous and all CUNP holders are greatly fed back.
CUN is currently 650 times more efficient than Ethereum, but it costs only 1/3,000,000 of Ethereum and only 1/700 of Polygon.
The core technology development team of CUN is composed by a group of well-known experts in crypto technology. Currently, they are cooperating with scholars in famous university. There are 6 patents and 4 high-level international papers provide technological support for the development of CUN. Meanwhile, more patents and papers are published by CUN every year to improve the Ethereum.
Technological roadmap of CUN: the Origin Network, Cape of Good Hope Network, and the New Generation Network
Similar to Ethereum, the technological roadmap of CUN has three stages: the Origin Network, the Cape of Good Hope Network, and the New Generation Network. The “Origin” network of CUN is a Layer1 network with the mainnet COIN, featuring the same technological mechanism and performance as Binance Smart Chain（BSC）. In the Cape of Good Hope Stage, the key goal is to realize community governance, and the CUN “New Generation” Network will adopt new technologies to improve and iterate Ethereum.
The “Origin” network — — the start. Taking PoA consensus as the access mechanism, the “Origin” network elected 21 trusted nodes to participate in the launch and maintenance of the network, forming a cluster of nodes. These nodes need to stake some CUNPs, and the block collection, packaging, consensus and verification are performed by the nodes in the set. In the origin stage, CUN is characterized by network stability. In addition, the high consensus performance is also an important advantage of the origin stage since there are only 21 network nodes in this stage.
The “Cape of Good Hope” network — — a transitional network that evolves to the New Generation Network. When the network node scale and the CUNPs held by the community are accumulated to be eligible for stake voting, CUN will enter “Cape of Good Hope” network from Origin network. The Cape of Good Hope network will adopt PoA+PoS as the access mechanism. Nodes that joined by PoA mechanism at the “Origin” Stage still need to stake a part of CUNPs, to maintain the network and get rewards for network maintenance. PoS mechanism will be introduced in this stage. The nodes joined by the PoS mechanism are community nodes, which need to stake more CUNPs to be qualified for the node election. According to the number of votes won by candidate nodes, the top N nodes will be qualified for entering the set of validators to maintain the network together with PoA nodes, and benefit from network maintenance and staking. At this stage, a large number of community nodes will be added to the network, and more long-term participants will be attracted to join CUN ecosystem through the staking-reward mechanism. By expanding decentralization, the stability and high performance of the network are guaranteed.
The “Next Generation” Network — — a DAO-governed community. When the network scale and CUNP distribution gradually stabilize and the sale of nodes and community further grow, CUN will enter the next generation stage. In this stage, PoS is used as the access mechanism, and a randomized algorithm of staking weight is adopted to determine the block producer. In the consensus phase of the main chain, an improved PBFT algorithm will be used. At this stage, as the network scale is large enough and the PoS+PBFT consensus is adopted, community users will jointly govern the network. The most significant feature of the network is the high degree of decentralization and is planned to be run by DAO at this stage.
CUN network supports all the functions of Ethereum network, including smart contracts, CUN20, CUN721 specification of digital assets. At the same time, CUNP as CUN’s native asset will increase as the number of users, frequency of usage and the value of limited amount of CUNPs increase.
Market Value of CUN: Huge Potential for Growth
Recently CUN announced a 100,000,000 CUNP airdrop program, by which to achieve upgrading from the first stage “Origin Network” to the second stage “Cape of Good Hope Network”, and to introduce more PoS community nodes onto the network for the further growth of CUN ecosystem. As of now, CUNPs in circulation account only for 1.929% of the total supply. After implementing the airdrop, CUNPs in market circulation are expected to reach 12% of the total supply, and the remaining uncirculated CUNPs will be generated and released through smart contracts based on contributions, along with the network development.
Polygon’s current market value is about $15 billion, BSC is about $88 billion, and CUN is only about $10 million(based on the current circulating volume*0.5). As more CUNPs are to be released and more use-cases being developed on CUN, the growth potential is worth expecting.
On December 5, 2021, NVWA platform made its debut as the world’s first NFT trading platform connecting the real economy based on CUN network. The first batch of products “Digital Villagers” launched at the same time was the first project in the world that tried to mint identity rights and interests into NFT, which is of great significance. In addition to the identity rights of NFT, NVWA platform has established cooperation with famous artists and art brands since its launch, minting tens of NFT artworks.
CUN’s goal is to become one of the infrastructures of the metaverse, and it is now fast moving towards this goal. Except for NVWA platform, CUN’s ecosystem includes the metaverse platform Infiniteland, and the NFT-related upstream and downstream industry chains.
The success of BSC has proved the practicality and correctness of the evolutionary route, and CUN proposed its roadmap at the same time to continuously follow the spirit of pursuing a more equal and free Internet.
Facts proved that extreme centralization or decentralization will restrict us. The either-or extremism, whether combines with secularism or with idealism, will damage people’s well-beings. CUN adopts the idea of evolving and developing from Ethereum, which is more practical than other technological-oriented projects. Having a broad market, CUN is consistent with the core concept of blockchain. It is worth to keep an eye on this Layer1 network.