The mining


We have received many questions related to the mining process we have announced in the Blockchain Strategy 2022. We understand your concern as this will affect the whole Credits ecosystem. This publication is here to provide the mining concept. 

First of all, we have to clarify that mining at Credits is not mining in its traditional sense. 


What does mining include? 

Enhancenced mechanism of node rewards, which consists of two parts:

  1. Reward of the node for each block will be changed. It will have a commision part, as well as a fixed reward/remuneration  part for each block. 

  2. Reward distribution for the CS mined and commissions earned will be held in between all the participants who delegated funds for this node. Distribution will be based on the proportion of the CS the owner has delegated to this particular node. 

Why do we introduce mining? 

The Credits blockchain is getting improved and polished with each year of its life. We continue adding new functionalities to the network that we believe will make it more appealing for the projects for launching different sorts of applications. As of now, there are few such applications being in the development on Credits. 

However, development and further growth of popularity of the protocol is not made in one day, it takes time. 

We understand that at this moment the number of transactions is not sufficient for the MainNet for the node holders. To support them we have initiated a Node Reward Program, which is still active.

By introducing the mining process we are following the goal to increase popularity of Credits blockchain for the node holders as well as for the CS coin holders ( reminder: you will be able to delegate CS allowing to earn income based on the mining process).

Mining development stage and open questions

As of now, we have already moved to the testing phase of the mining mechanism. However, we can provide any exact dates for the official launch yet. The past tests demonstrated good results, but we have to finish the whole testing series. 

There are still a few important questions in the mining concept/agenda  we have to decide upon, and they are:

1) Amount of emission; 

2) Emission regulation, which includes frequency of halving and other mechanisms); 

3) Program for attracting new node holders;

4) Other smaller questions. 


To finalise this short introduction of the Credits mining idea, we would like to state that Credits team continues to stay very open to the community reaction. We are ready to hear your suggestions and comments related to the mining idea, and accept your mining proposals for discussions.