Credits is a new open source platform for creating and managing financial services based on blockchain/credit ledger. It is a new and unique technical implementation of blockchain technology, smart contracts, and data protocol. The principle of implementing an intellectual contract and a joint voting system creates a unique opportunity for all participants to interact with various financial products. The platform opens up a huge new market and has the potential to use blockchain projects and services in financial and other industries that previously was unsuitable due to speed as mentioned earlier and also transaction cost which is another major problem.
CREDITS platform is a decentralized financial system for the direct interaction between participants on peer-to-peer (P2P) principles. The platform expands the potential of using financial services on the basis of a distributed ledger, self-executing smart contracts, with its own internal cryptocurrency, CREDITS (CS).
We are in a developing world in which previous systems might act as a form of barrier to accessing blockbusting goals. Facing the problem on ground is the problem of creation and performance of financial products on the basis of blockchains and smart contracts needing quick transactions. This is where CREDITS comes in.
The unique system based on the block chain allows you to build high-speed transaction processing financial services, up to 1 million times per second, the average transaction processing speed within 3 seconds offering a very fast transaction speed along side low transaction cost. This doesn’t only end here. For more emphasis, i’ll be making a short comparison of credits platform with other competing platforms.
First, looking at Bitcoin and Ethereum platforms which processes about 100 transaction per second. This is very slow compared to what credits is offering. Also, its processing time is averagely 0.5 minutes to 15minutes and also the cost per transaction is around $0.02 to $0.5. This is quite unacceptable and unsuitable for the financial industry compared to what credit is offering. Credit offers a blockchain with up to 1million transactions per second with an average processing time of 3 second. Also, For more emphasis,
Bitcoin payment system and currency units, Tasks can only be passed from one user to another, Slow block chain. similar point: public block chain / ledger, internal encryption currency differences.
CREDITS: Fast block chain / ledger, available intelligence contracts, financial wizards, support different currencies:
Ethereum Emphasizes the creation of smart contracts and records them in the block chain, All the other through the use of third-party services to solve, For all industries, Slow block chain. similar point: intelligent contracts, internal encryption currency differences.
CREDITS: Another quick block chain / ledger, different computing systems to support the currency, internal use, focusing on the financial sector Ripple only for billing systems and currency exchange, Developers and companies close. similarities: Fast block chain / ledger, billing systems of different currencies, specializes in the financial differences.
CREDITS: available intelligence contract, an open developer platform, any company can be connected to the platform This is super-fast and will in turn offer a new technical solution and a new conceptual model of networking participant interaction for the development of modern decentralized financial services. For more information, see the whitepaper. Links below !!
LISTING OUT ITS FEATURES
The system is a distributed database with the principle of a block chain / ledger the decentralized management and transaction of digital assets, the invariance of records. The following are the features and also contains benefits.
*Distributed, decentralized storage and open source.
*Support public and private networks.
*By dealing with consensus transactions, each entry is entered into a database of blocks / ledgers that do not have Merkle trees and side chains.
*The use of object — oriented principles based on the C / C ++ language — the ability to build other compilers.
*Permissions are set at the transaction level.
*The system is extensible (as the number of nodes increases, the number of transactions processed per unit time increases).
*The transaction is added to the block to reach a consensus later.
*Consensus model: The joint mechanism makes most nodes the right to make a decision.
*Virtual machines (VMs) are used to perform smart contracts. Each contract is executed in a separate, isolated environment to improve the security of the VM, allowing development in a scripting language (eg JavaScript), scheduled and planned.
*Proof of work PoW (Proof-of-capacity) + ability to prove PoC (Proof-of-Capacity). Coins are issued in advance by a certain amount.
CREDITS platform offers a solution to low speeds and high transaction costs. It expands the the potential blockchain technology has for the financial industry and the Internet of Things:
*Blockchain-: Distributed, decentralized storage and open source code. Support for public and private networks.
*Transactions-: Each record is entered into the blockchain of the block-less database without Merkle trees and sidechains by processing consensual transactions.
*Formation of blocks-: Permissions are set at transaction level. Transactions are added to the block for the subsequent finding of a consensus by the algorithm for finding the solution of finite state machine.
*Consensus model: Consensus model: federal with a mechanism for resolving most nodes with permission to make a decision.
*Smart contracts: Each smart contract is performed in a separate isolated virtual machine environment, allowing development in script languages (JavaScript), extended work with the scheduled calendar.
*System:- The system is scalable (as the number of nodes increases, the number of transactions processed per unit of time increases). There is an absence of mining so all coins are issued in advance in a certain amount.
CREDITS platform is a dispersed financial scheme where participants and users can interact and make discussions through a peer-to-peer approach. Unlike any other blockchain platform hitherto known to investors, CREDITS allows participants to be assembled in one unified website with the benefit of offering a service and at the same using it. The platform provides you with an efficient, high speed and technological management of transaction data without the necessary challenges of the middlemen. This will further allow participants to interrelate properly and monitor their outputs relatively.
smart contracts have been modified and eventually simplified. Through a process that allows participants to have full legal rights of contents, the platform have gradually broken the before-now very cumbersome process of the ‘Old’ Smart contract system which was slow and expensive. The logic and regulations of the smart contract framework is strictly adhered to allow for full implementation of any transaction.
In January, 2017, the development of the MVP and the development of the White Paper took place. In October, 2017, the MVP will be launched and pre-sales will start subsequently. In December, 2017, the ICO and the placement on the exchanges will take effect. In March, 2018, the Alpha Version will be issued and will be preceded by the ushering in of the ‘First Users’ of the platform. By June, 2018, the platform will be release and new services and features will be added. 230, 632 USD has been sold already from PRE-ICO White list from the last count.
Buy your own CREDITS token now!
There is absolutely no way I can describe the CREDITS and paraphernalia in one piece, thus for more firsthand information and knowledge about the CREDITS, you can download the ‘White Paper’ onhttps://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf.com.
Website: http://credits.com
Whitepaper: https://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf
Twitter: https://twitter.com/CreditsCom
Facebook: https: //www.facebook .com / creditscom /
Telegram: https://t.me/creditscom
Penulis (morata): https://bitcointalk.org/index.php?action=profile;u=1074956
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