Q&A Session with Credits’ CEO, Igor Chugunov, February 9th.
Please find below our Tuesday Q&A Session. I have covered here questions related to the company strategy, vision, and business received from our community recently.
Some of the questions keep coming back, for them an update provided.
Q: “Will CS reach $1 again, what’s the adoption rate looking like?”
A: Our business strategy has got an important goal, which is to increase the popularity and adoption of CS coin. Currently, CS is used for the Credits Blockchain, and in all our fintech line services. By releasing Digital Wallet and gaining market share first in Europe and UK, and later globally, CS coin will be getting more and more recognition. The same applies to the Credits Blockchain. By doing the Public Speed/Load Test we are aiming not only to confirm the TPS we are capable of but also to bring more publicity for Credits as a project and our coin. If we put it simply: each product and event we do also follow the goal to bring attention to CS coin.
Q: “Do you have any plan to have an airdrop or events?”
A: The main event we are preparing for now is the Public Speed/Load Test. No airdrops planned at the moment, but if there will be an occasion for the cross-promo we may decide to launch one.
Q: “In the Q and A it’s said once the changes have been made they will conduct two internal tests. Is there a date for the public one?”
A: These two internal tests are hopefully the last ones before the Public Test. The date for the Public Test will be set and announced right after we have passed them.
Q: “Is there info on what is TPS target upcoming test?”
A: In the tests carried out so far, we have achieved an average of 30k TPS with a maximum of 35k TPS. We are also working on resolving a memory management issue that will provide more stability for the node when working with high transactional data loads, so this fix may have an effect on the results too. We can only say that the results we expect, should be close to those that we have already achieved so far with the previous tests; around 30k TPS average, with a maximum of around 35k TPS.
Q: “Someone here will join the test?”
A: There are 10 testers participating in our test, and all of them are our community members. To join the internal test you need to have certain hardware to run a node. We also apply the geographical factor when choosing testers, so as to mimic the real-world conditions of a global decentralized blockchain.
Q: “What's the difference between now and the speed test we did I think 2 years ago?”
A: We answered this earlier, however, we are happy to answer it again; a couple of years ago, the Credits blockchain was much different from what it is today, and we have released a number of improvements and updates. As a result, the old test is now out-dated. In addition to this, the test carried out a couple of years ago was done in ideal conditions. To summarize: the upcoming Public Speed/Load Test will be held in real-world conditions, and on a blockchain that has been vastly improved. The Public Speed/Load Test will demonstrate the current working results of our blockchain in real-world conditions.
Q: “When new exchanges?”
Q: “Is there any good news for new Exchanges?”
A: As always many questions on exchanges. We are in discussion for listing with several exchanges. CS will come out on new exchanges, today we yet cannot name the exchanges and the dates. Please follow our announcements to stay up-to-date.
Q: “Any news about Ledger”
A: We have applied to add CS to Ledger a year or so ago. We are resuming this application now and providing updated information, and we hope to complete the integration of CS to their wallet this year. Several metrics of the project’s progress play importance for Ledger’s decision to add coins to the wallet. These include trading volumes, coin value, user-cases, and others. Since this year Credits will be releasing the number of important products, it puts us into a more advantageous position in getting success on this matter.
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!