News Nov 17 ,2020

Q&A Session with Credits’ CEO Igor Chugunov Nov 17th

Hi everyone. 

Please find below the answers to the questions you have asked us last week. 

Thank you for your engagement!

Q: “Hello credits token is only ERC20 or either exist a coin?”

A: ERC20 CS tokens were issued during the ICO, we then created the native CS coins. All ERC20 tokens have to be exchanged to CS coins. We will be running the last swap from November 25th to December 20th. If you have any tokens left, please do not forget to exchange them, otherwise, they will be burned. Here is a link to swap instruction and a link to a video demonstration

Q: “How to swap can you send me a video?”

A: Video was released yesterday, please watch it on our youtube channel, the link is above.

Q: “Any updated RoadMap for 2020/2021? Seems like a death project this last quarter...”

A: Roadmap for development until the end of 2020 was published not so far ago, please see it here. The roadmap for 2021 will be released soon.

Q: “Hello admin. I have a question for the next Q&A. I know in the past there seemed to be interested in Credits private chain solutions. Have any of these company's implemented the private chain for internal use and if they have is this bringing in revenue for Credits?”

A: We have been working a lot in this direction. Unfortunately, adoption in the blockchain is not happening fast. As a rule, these partnerships are moving forward very very slowly, and they are not always viable. Most of our partners use Credits blockchain for pilot projects, and as of now, we do not have any revenue from these cases.

Q: “5k transactions per core ( this main 5000×8 per core = 40,000 TPS). Is that correct ?”

A: That would be correct for the ideal conditions. For real case application, this would be less. 

Q: “Community been wondering about how partnership gaimin is going”

A: Update was provided in the very last Digest, please find it here 

Q: “Hi guys is the swap till end of the year?”

A: The swap will last from November 25th to December 20th. This will be the last swap token to coin. So if you have any ECR20 tokens you need to exchange them for CS coins during this time. The announcement will follow. Tokens lefts unchanged after this December 20th will be burned. 

Q: ” admins make the site more professional please. where the rest of the team? ”

A: We are working on this, there will be some updates in a near future. These are not admins who are working on the site content, not sure which part of the rest of the team you were referring to.

Q: “Coinmarketcap rank slide from under 200 to 854...My simple question to the team is what is hindering them to go in better exchanges? Before mainnet, they were saying we will go to top exchanges after mainnet...but now mainnet is stable, wallets are there...Is there a genuine reason to stick with Kucoin???”

A: We have answered this question many times. Listing on top exchanges is quite expensive, we are considering options. Announcements will follow when there are new listings. Apart from that exchange option will be available in our wallet shortly, so you will be able to buy CS coins directly in-app.

Q: Any idea when the restricted countries are being unrestricted from installing the other wallet?

A: Europe is our priority launch region. At this moment wallet is already operating in the EU. At the same time, we are going through the number of compliance checks of our partner companies. We will start working on scaling services to new regions when integrations with European partner companies are fully completed.

The product launch in the other regions preliminary set for Q1 - Q2 2021. 

Q: When will be CS/USD available in the wallet?

A: This function will become available in 4Q2020 - 1Q2021.

Thanks for sending us your questions!

Please remember we collect questions in our social media and TG chats during the week, and answer them each Tuesday. Anything else you wanted to ask us, you are very welcome to do so on our channels!

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