ClinTex is upgrading CTI to become truly interoperable and cross-chain, providing a blockchain agnostic solution for our users
A lot has happened in the crypto sphere since the creation of the original ClinTex CTI smart contract, initially developed specifically for the Ethereum ERC-20 platform. High gas fees and network congestion has come to plague the network and inhibited many users from making or transacting in small (or even significant) amounts of a particular token due to the exorbitantly high costs involved in conducting such basic and fundamental operations.
Newer (and perhaps in some ways, technically superior) smart contract platforms have since come into existence over the short but rapidly evolving time frame since the original CTI contract was deployed.
We at ClinTex have always kept our minds open and our ear to the ground in evaluating new technology that might perhaps suit our use-case or indeed, user-base more favourably. This was made abundantly clear over the past few weeks as we publicly announced our partnership with the DFINITY foundation to create Optex, our cutting edge data visualization tool which we are building on the Internet Computer (ICP).
We have always been evolving and expanding our outlook beyond ERC-20 and its potential limitations, recently providing users with methods during our staking program to participate via the Binance Smart Chain’s BSC protocol and over Polygon’s Matic network, in order to help users avoid wasting money on expensive Ethereum gas fees. This however was just the tip of the iceberg as here at ClinTex, we have been discussing for many months behind the scenes about ways that we could truly enable CTI to become a cross-chain, blockchain agnostic token.
What does this mean for CTI?
Through thorough investigation, development and testing, we have now developed version 2.0 of the CTI smart contract. We have modified and upgraded certain aspects of the original smart contract to enable us to provide a more robust and efficient version of the platform that can easily operate and communicate across the various different smart contract platforms now available to the blockchain community. All of this while still ensuring we kept the core functionality that enables the ClinTex platform to do what it was designed to do from the outset : build a system which will help to lower the cost of clinical trials for the pharmaceutical industry, via machine learning and AI on the blockchain and thus, reduce the cost of bringing new medicines to market.
With these changes we can now provide our token users with a way to transact, buy, sell and transfer CTI tokens across any network, such as Solana, Polygon/Matic, Binance Smart Chain, Terra and AVAX, making CTI truly blockchain agnostic. No longer will users need to carefully assess their timing to send or receive CTI tokens due to high gas fees. Simply swap CTI tokens to another network such as Solana or BSC and send those tokens at an enormously reduced cost. If at any time there should be a need to transact with CTI over ERC-20, you can simply swap your tokens back and forward, no fuss, no hassle.
Sounds great, but how can this be achieved?
Over the past few months, as different smart contract platforms have been rapidly evolving, tools such as the Wormhole Bridge have been developed and we feel it is important to provide access to this technology for the CTI community. It is our long term commitment to ensure our value proposition continues to grow over time and keep CTI at the forefront, as the ever evolving core crypto infrastructure matures in order to provide new and exciting opportunities for our holders. Sitting still was never part of our plan.
So what’s next?
In order to achieve our aims and remove the limitations placed on CTI by being entirely reliant on the Ethereum network to operate, we will be conducting a token swap to a new and upgraded version of our smart contract.
This new version of the contract is being fully audited to the highest standards and once complete will be open-source on our Github. Users will be able to swap their CTI for CTI 2.0 tokens over any of the networks supported by the Wormhole Bridge so that swap fees will be almost non-existent and the process can be completed quickly and easily.
As a token holder, what do I need to do now?
Nothing. We’re still working on the upgrade and will release a full and detailed guide to the token swap in good time before the new token launches (we anticipate in the next 4 weeks). The ClinTex team will do our best to ensure the entire process is as seamless as possible and we will ensure that any potential temporary disruption across exchanges or chain analysis tools is minimal.
All of our partners and exchanges such as KuCoin, gate.io, CoinGecko, Coinmarketcap etc, have been informed and will be supporting us throughout the procedure.
After the process is complete, one of the first improvements we shall undertake will be deploying CTI 2.0 over the Solana network. This will allow users to begin trading on the Raydium or Serum DEXs. Users will be able to buy, sell, trade, send and receive CTI via the Solana network taking advantage of incredibly low fees with super fast confirmation times, and this is just the beginning, we have much more in store so watch this space..
Join us as we help to develop the future of the medicinal industry by exploiting blockchain for a purpose that we know can bring change for the better. We want to see a future where time and money is not being wasted on inefficient legacy systems and practices. We believe we can help re-shape the pharmaceutical industry and provide tools which bring new medicines to market faster and reduce the costs for both producer and patient, something which the world needs now, more than ever.
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