This software is developed by the 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 decentralised blockchain technology.
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.
Nearly everything. We have developed a very unique architecture including ledger, new concensus protocol, new advanced full smart contracts, saving trasnsactions, 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 exeed 1 million per second at a low transaction cost.
Yes, the development of the platform is completely open source.
No. Additional token releases will not be made after ICO. In the future, ERC20 standard tokens issued at ICO will be exchanged on a one-to-one basis with CREDITS platform cryptocurrency.
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.
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.
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.
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.
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 the CREDITS platform.
The 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.
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.
CREDITS ERC20 tokens will be sold and stored on the Ethereum platform. After the release of the platform (scheduled for 2nd half of 2018), the ERC20 standard tokens issued via the ICO will be exchanged for the CREDITS cryptocurrency, which will be the only payment currency of the platform.
ICO intial supply is 1 billion tokens; however, tokens not sold by the end of the ICO period will be destroyed
Within a few weeks of the end of CREDITS' ICO, the ERC20 standard tokens will appear on a number of exchanges.
On the official credits.com site during the ICO period you will need to buy ERC20 CREDITS tokens and have an Ethereum based wallet.