Answers on questions
What Is CREDITS Platform?
This software is developed by CREDITS team to include a public and decentralized DLT blockchain, built-in fully self-executing smart contracts and CREDITS cryptocurrency.
Thanks to a deep analysis of users' needs, we have developed a unique and balanced system to achieve high processing-speed operations of up to a million operations per second. The average duration of transaction processing goes from 0.01 to 3 seconds. CREDITS platform could revolutionize the world using decentralized blockchain technology.
What Are The Main Principles Of The Platform?
CREDITS platform has its own unique features built on the principles of blockchain technology: a public decentralized ledger/storage system, presence of the independent nodes, the consensus model, the internal cryptocurrency CREDITS etc. The platform does not have a block system like Bitcoin or Ethereum do.
What Distinguishes Your Platform From Others?
Nearly everything. We have developed a very unique architecture including ledger, new consensus protocol, new advanced full smart contracts, saving transactions, transfer transactions and more. This allows the project to achieve a level of performance that is unattainable by other platforms: our speed of transaction is as low as 0.01 seconds and the total number of operations can exceed 1 million per second at a low transaction cost.
CREDITS Platform Uses Open Source Software?
Yes, the development of the platform is completely open source.
For Whom Is Your Platform?
The platform's target audience is highly diverse: banks and financial organizations; payment and online services; Internet of Things (IoT) applications created on the basis of blockchain technologies; smart contracts; and cryptocurrencies and fiat money, which require high-speed (a few seconds) and low-cost transactions.
Why The Financial Industry?
The financial industry requires high-speed processing and low transaction costs above all else. These attributes enable shopping, payments, transfers, exchange, and much more. However, CREDITS can be used not only for financial transactions, but also for other industries for which the speed and price of the transaction (e.g., IoT) are necessary.
Did You Develop A Platform For Individuals Or Businesses?
Developers, companies, and users who want to create online services. The platform is developed as an application for B2B businesses, but can also support B2C and C2C applications.
Will You Create Financial Products?
The CREDITS team will actively develop, maintain, and promote the platform. Accordingly, the team is committed to increasing the number of users and helping with implementation of new applications. The CREDITS team will not independently develop products for end users, such as P2P applications, online lending, funding, etc. The main task of the team is to create and foster the CREDITS platform to serve multiple industries and applications, including the financial industry.
Who Is The CREDITS Platform Best Suited To Serve?
We believe that financial services are in the early stages of utilizing blockchain technologies, as many existing blockchain platforms fail to address their primary concerns (slow transaction processing speed and high transaction fees). Additionally, existing blockchain platforms lack the essential functionality necessary to build financial services for the blockchain system, namely: personalization, KYC requirements, and credit histories. These issues are all solved by CREDITS platform.
How Will People Use It?
CREDITS platform is designed to be highly flexible. It can be used to perform most "obvious" blockchain functions (e.g., currency, store of value, etc.), but can also be customized for applications that the team can't yet imagine.
Where Is Your Company?
The CREDITS Foundation, which is located in Singapore, was created for the development of the platform. After the completion of development and release of the platform, the CREDITS Foundation will be the sole and official representative of the platform.