News May 11 ,2021

Q&A Session with Credits CEO, Igor Chugunov


We are glad to see you at our Questions and Answers Session! Thank you for being eager to keep up to date with everything happening at Credits. Your trust and contribution drive our devotion even further every day! Please be sure that we are tirelessly working to bring Credits to yours and our own high expectations! 

Q1: How many node Credits team are running now? And how do I know that they are Credits team nodes? Also, will the node reward program be reexamined due to it being unsustainable for most to keep running their nodes at current reward levels? Very important we don't get a mass sell-off by node holders, what are the views of the team on this?
A: At the moment, the team is running around 25 nodes. Some of them are used for the REST API, monitor, and wallet functioning. The rest maintain the network and are responsible for the correctness and reliability of the storage of the entered data. Technically, Credits and user nodes are no different. With respect to the review of the node reward program, we are looking at modifying the mechanism and the number of rewards. However, right now, we are centered on MainNet updates, and you will see many significant changes after the completion of our plan. Please see the Credits Blockchain Roadmap.

Q2: In the crypto market, we see a lot of websites with dynamics and very polished. Is there any intention to do a first-class Website before or for the launching of Digital Bank and Wallet? 
A: Credits team has a keen interest in providing its users with all necessary information and showcasing its products and services. In this way, we are in the process of updating our website to improve your easy navigation and provide pertinent and timely data.

Q3: Is CS developing DEFI like ETH is?
A: I get Telegrams and emails about DeFi from time to time, but at the moment, we are not engaged in the development of DeFi solutions. Nevertheless, we are ready to support third-party developers.

Q4: Are the Credits Mobile Wallet updates for both the centralized and decentralized wallet?
Or is it for a different one?
A: As far as I understand, you are talking about the recently highlighted updates mentioned in our Weekly Digest. In this case, we touched upon the update of the centralized Credits Wallet. However, some of the updates are compatible and can be implemented in a decentralized wallet.
Q5: How to withdrawal CS in the Trust Wallet?
A: Once again, I couldn't help but pay attention to this question, since I understand how frustrating it can be for some users. But, again, you are most likely transferring ERC20 tokens that are no longer available. For almost all of 2020, Сredits conducted a swap of ERC-20 CS token to CS native coin. You have probably missed it out. Non-swapped coins have been removed from circulation and burned. You can check the official announcement here.

Q6: How many developers are working on the blockchain? And when was the last audit?
A: At the moment, our tech team is made up of twenty-five professional developers. Half of them perform the cross-functional processes, while six developers are directly engaged in the blockchain. The last time we did a complete audit was in 2018. The architecture has not fundamentally changed since that time. To this day, we only carry out updates and optimizations.

Q7: Credits promote itself as a fintech company and you want to have a promotion for the blockchain?
A: You're absolutely right. Blockchain and cryptocurrency are part and parcel of the Credits, which are very deeply integrated into the company's products and services. 

Thank you to everyone who follows and participates in Q&A sessions! It is a great pleasure for me to discuss the Credits’ ways of improvement and answer all of your excellent questions. 

We do appreciate your drive for Credits development priorities and would like to hear more from you on our social media! Please send us more questions you would like to be covered here.

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