CREDITS-NEW BLOCKCHAIN TECHNOLOGY
What is the CREDITS?
Credits is a new open source platform for creating and managing financial services based on blockchain/credit ledger. It is a new and unique technical implementation of blockchain technology, smart contracts, and data protocol. The principle of implementing an intellectual contract and a joint voting system creates a unique opportunity for all participants to interact with various financial products. The platform opens up a huge new market and has the potential to use blockchain projects and services in financial and other industries that previously was unsuitable due to speed as mentioned earlier and also transaction cost which is another major problem.
CREDITS platform is a decentralized financial system for the direct interaction between participants on peer-to-peer (P2P) principles. The platform expands the potential of using financial services on the basis of a distributed ledger, self-executing smart contracts, with its own internal cryptocurrency, CREDITS (CS).
We are in a developing world in which previous systems might act as a form of barrier to accessing blockbusting goals. Facing the problem on ground is the problem of creation and performance of financial products on the basis of blockchains and smart contracts needing quick transactions. This is where CREDITS comes in.
Why Blockchain Takes Leading Places in Finance?
The complexity of remittances in today's world is not only a concern of duration, but also of high commissions. Payments for transactions are often too large. Making a transfer from the United States to RF or from France to Australia is not a low cost pleasure.
It all depends on the transfer amount, but the commission averages $ 30-50. And all thanks to SWIFT, whose security has long been threatened by the scandal of stealing large sums of money from the Bank of Bangladesh.
In addition, Iran was cut off from SWIFT at the time. There is nothing immune to repeat this scenario with its own example. Blockchain solves this problem through the lowest possible commissions, high transaction speed and full protection from money.
The full protection of Bitcoin is proven by thousands of hackers: no one has managed to hack into the block's main block for more than eight years. Not in vain the blockchain was often compared to a stolen safe.
As long as the bank still spends a lot of money and energy checking customer data, blockchain is concerned with the security of transactions only by its existence. Currently the technology is as safe as possible. Still many promising projects like Credits are trying to make blockchain more secure.
The revolution is made by a specially crafted platform, among which one of its prospects is a Credits. In particular, the developer of this project utilizes Bitcoin and Ethereum technology, combining it into a single unit.
The new algorithm is capable of reaching a large number of transactions per second with minimal transaction commissions. Up to 1 million transactions per second will likely be the only market offer that way. Blockchain Bitcoin is slower every day, and the 'weight' of blockchain grows easily. If you have entered a blockchain transaction for several years, you must have noticed the speed of transaction reduction.
The 4 main features of CREDITS
· HIGH VOLUME-Over 1,000,000 transactions per second, with future scalability up to 10,000,000 per second
· LIGHTNING-FAST PROCESSING TIMES-Slightly around 0.01 seconds per transaction
· INEXPENSIVE TRANSACTION COSTS-Allegations, from about 0.001 USD
· SMART CONTRACT CAPABILITY-New, advanced functionality with easy interface developers and program capabilities
About Revolution Efforts From Credits
Reducing processing time is provided by transfers to the main node where they are processed and recorded in the ledger. Each node can be mastered or trusted no more than once.
To improve data security and other performance indicators, the Credits platform uses its own combined consensus protocol, as well as stored search algorithms. A working prototype has been completed which confirms the project team's serious intent to create a viable product for the financial markets. Find out more on their official website https://credits.com/.
The project launched ICO in November 2017. The total number of tokens is a billion. The growing market and the lack of working analogs promise good prospects for growth. More and more countries are showing an interest in crypto legalization. This means the time is near when financial institutions and regulators should seriously consider and modify their activities. Retraining of large-scale personnel, new professions and new opportunities await in the future.
Search for Transaction Participants
CREDITS peer-to-peer network can be represented as a graph, with user accounts in the form of vertices and a multitude of possible transactions in the form of directed edges that connect two vertices (account). Since all edges have an initial and a terminal vertex, you can always construct an oriented graph (orgraph).
If take the following conditions for identification:● Any transaction always has a sender and a receiver;● Any vertex (account) can always be connected to another vertex with a directed edge (transaction);● Any vertex of the graph (account) has a finite number of directed edges (incoming and outgoing transactions).
If take the following conditions for identification:● Any transaction always has a sender and a receiver;● Any vertex (account) can always be connected to another vertex with a directed edge (transaction);● Any vertex of the graph (account) has a finite number of directed edges (incoming and outgoing transactions).
In connection with the foregoing, we can say that the orgraph contains the required route for fulfilling the necessary transaction conditions and construct a simple chain. Since it is a finite sequence of vertices, where each vertex (except the last) is connected to the next vertex in the sequence by an edge.
Token Sales And Distribution
PreICO will start on October 25
We are offering our participants a total allocation of 2% from our overall token supply.
The total number of tokens in circulation may vary, depending on the actual amount raised during Token Sale:
We are offering our participants a total allocation of 2% from our overall token supply.
The total number of tokens in circulation may vary, depending on the actual amount raised during Token Sale:
Soft cap for the 1st round of ICO is 80 000 ETH,
Hard cap for the 1st round of ICO is 120 000 ETH,
But in any case 2% of tokens will still be designated to the bounty campaign
1 600–2400 ETH
1 ETH = 2 000 CREDITS (CS)
Total number 100%
2% for bounty
2% for
15% post prize for founders and
Operating team 5%
1% for advisors
75% for Pre-ICO and ICO
Bonus campaigns for PRA-SALE purchase
Bonus for PRA sale — 30%
Hard cap for the 1st round of ICO is 120 000 ETH,
But in any case 2% of tokens will still be designated to the bounty campaign
1 600–2400 ETH
1 ETH = 2 000 CREDITS (CS)
Total number 100%
2% for bounty
2% for
15% post prize for founders and
Operating team 5%
1% for advisors
75% for Pre-ICO and ICO
Bonus campaigns for PRA-SALE purchase
Bonus for PRA sale — 30%
For a more detailed explanation you can visit:
Official website: https://credits.com/en/ICO: https: //credits.com/en/home/ico
twitter: https: //twitter.com/CreditsCom
telegram: https: //t.me/creditscom
Bitcointalk Profile (Nanknink Boy): https://bitcointalk.org/index.php?action=profile;u=1711766
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