News May 26 ,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. Here are the latest questions from our community:

Q1: I can see the advantage of the bank and a solid wallet. I am still yet to find a true wallet that I like that has a range of coins, connected to a local bank, and more important - a true exchange rate as most wallets just do a swap at any exchange they like. So the question is does the exchange backend for the bank still going to be Bitfinex?
A: As far as I understand your question, at the moment, we have Bitfinex connected as the main exchange for working with fiat. Also, KuCoin for the further exchange of CS and some other coins in order to avoid cross rates. Likewise, we are in the process of connecting several more exchanges so that we can make exchanges and purchases at a better price.

Q2: Why does the planning of CS go awry every time? The team does not have the ability to handle this all or the team has different ideas in mind?
A: Unfortunately, this situation really takes place. There are many reasons for this. If we are talking about blockchain updates, then the main point here —  we cannot make a raw update and then fix it with several small ones. Updates are very difficult to handle as it is a decentralized system (involvement on the part of the exchange, wallets, and third-party services). Besides, sometimes floating bugs come out, which are also need to be fixed in the current update. If we are talking about the Credits wallet, then many factors are related to third parties. As you know, such activities are strictly regulated, so all aspects must be taken into account. However, we try to stick to plans and be open with you, guys.

Q3: Any info yet about when will the next public speed test be held?
A: As previously mentioned, we have some delays with the MainNet updates. The public speed test will be scheduled after the completion of the updates. 

Q4: When will be an April MainNet update?  When you plan to finish your blockchain?
A: We have completed the substantive work on blockchain development. I hope many of you remember the release date, aren't you? Our current work is focused on updates and some additional features to improve the performance of the main network. As I have answered above, we have some delays, so we keep you informed. 

Q5: Why didn't the team include the address to delegate CS to? Find it weird most project out here gives an address to send tokens to or link.
A: We have not provided any addresses for CS delegation, as long as this is just a delegation mechanism that users can use as they see fit. For example, you can delegate from your cold wallet to a node on the VPS for safe storage, or another person, again, at your discretion. At the moment, there is no program for delegators, but we are working on it.

Thank you to everyone who is following us with much interest in the evolution of our company with optimism! It is always a great pleasure connecting with you, discuss the recent Credits plans, and answer all of your questions.

Please do not hesitate to send us more questions you would like to be covered here!

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