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26.01.2021
News

Q&A Session with Credits’ CEO, Igor Chugunov, Jan 26th.


Hello all. 

Please find below our Tuesday Q&A Session. I have covered questions related to the company strategy, vision, and business received from our community recently. 

Q: “When does staking of CS start?”

Q: “Hey guys, where can I stake credits?”

A: Credits Blockchain has got a delegation feature. It allows delegating coins to the nodes of consensus participants. Through this functionality, the community can consolidate into pools independently.   

Q: “Is Credits working on any sort of checkout widget, extension. Would love people to pay in credits on my website. The Star Wars feeling alone would be worth it.”

A: Yes, we are developing such products. Crypto Processing service and the business solution for E-commerce. We have described the full vision and roadmap for these products in our strategy 2021, please find it here.

Q: “How long have we have to update CoinMarketCap? I saw they recently removed warzik from the exchange list why they they did not update it? Have you contacted them? Usually, other coins get updated quite fast why we always have to wait months?”

A: Hi, we have requested an update, circulation supply is currently updated. We are only waiting for CMC to add Bilaxy exchange and replace CS token with CS coin. We are in touch with CMC and these updates are being in process for some time now.

Q: “Why they burnt the team token wallet and were are the unswapped tokens?”

A: We have arranged the burn from one team wallet only because this is more convenient doing it from one address than collecting coins from all nodes and sending them to a swap wallet, and then from the general team address sending them back to the nodes.

So we sent CS tokens to the address with no key from one team wallet specified earlier as a team wallet. We burned exactly the amount that people did not swap. This can be seen in the ETH and CS wallets. We don’t think this is a principal question which wallet was used for the burn, as the team ultimately has got exactly the same amount of coins as before the burn.

Q: “Following up on the merging question. Do you think companies that have merging capital will come to CS or do you think you will have to present CS as an interesting merge suggestion to arrive at the next level?”

A: We are not specifically looking for a merging. But we are open to such offers. So I think there is more probability that the companies interested in M&A will come to us, and not us presenting CS for merging. The Credits management goal is not in finding the M&A solution but in the continuous development and growth of the project. 

Q:“Why new wallet with BTC is not in working (4-12) in the news channel there was a message that it’s going to be released.”

A: Yes, this is true that the very last update informed that release is expected soon.  However, we wanted to ensure that all work perfectly, so we have prolonged the final testing for a little longer. New Digital Bank Release will be announced in 1Q 2021 as per the Product strategy. 

Q: Sharding is a bad technology? Adrian emphasizes not using sharding as a strength. However, Etherium, Zillica, and Polkadot all use sharding.

A: This is well known that many of the blockchain protocols implement sharding. Ethereum uses it to deal with high volumes of data, for example. Credits doesn’t have this issue, and at least for now, this question is not anywhere on our agenda. If a business need arises in the future, we will consider this technology.

Q: “Curiosity: has Credits team ever contacted - nowadays popular- projects to connect their blockchain solution to an Oracle? Might be marketing-wise and product-wise a win-win to connect to e.g. chainlink? Perhaps even better than the ‘regular’ PR ideas/roadmap?”

A: We have done this integration in 2019 and are in the collaboration with ChainLink. Please check more details via the link here: https://twitter.com/creditscom/status/1145702049079877638

I hope I have provided here full answers and thank you all for sending us questions! Please remember we collect them 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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