The Power of Billions of Computers Versus ASICS,CPU ONLY MINING AND MASTERNODS
CreditsCoin (CRDS) is a secure and decentralized digital Cryptocurrency. It is based on Proof of Work and Masternode system. It’s a CPU specific (ASIC resistant) minable coin that uses Argon2d hashing algorithm. The daily volume of Credits is growing each day. Also as it is based on ASIC resistant, we see great potential for this coin to grow in 2018. Before getting in to this CreditsCoin wallet guide let’s see its features and specifications.
Name: CreditsCoin
Ticker: CRDS
Algo: Argon2d (Cpu Only mining)
Website: https://crds.co/#rewards
Bitcointalk thread: https://bitcointalk.org/index.php?topic=1944858.0
Confirmations: 10 blocks
Block per day: ~675 blocks
Max supply: 95,000,000 (~36years)
Block Time: 128 seconds (~2 min)
Masternode Coins:5000 CRDS
Pow & Masternode rewards: https://crds.co/#rewards
Why Cpu mining?
Bitcoin uses the SHA-256 hashing algorithm, which has now been around for many years and the algorithm hasn’t been changed since its genesis. This means that large hardware companies have created ASICs in order to mine at a very high rate compared to those who mine with CPUs (processors) at home. As a result of this, the cryptocurrency’s difficulty increases and means that CPU mining isn’t profitable for many people. Therefore, people stop mining and the large companies control a lot of the hash power. A large amount of hashing power in the control of one entity can mean the network isn’t decentralized and therefore create 51% attacks.
CreditsCoin now uses Argon2d in order to favour CPU mining to ensure CPU botnets cannot attack the network.The fact alone that CRDS is commited to staying ASIC resistant, and has demonstrated it will stay that way, is enough of a deterrent for ASIC companies to stay away from those algorithms.
In addition, access to CPU is much cheaper and more powerful
3 Step Mining method:
1.Download wallet (https://crds.co/index.php#download) or (https://github.com/CRDS/Credits/releases/tag/v1.1.1.0)
2.Open debug console and type “setgenerate true X” (where x is number of threads)
3.type “getmininginfo” to see your hash rate and network hash rate
(your hashrate / network hashrate) * blocks per day * block reward
at this moment: blocks per day = 675, block reward = 10
you’ll get approximate reward per day in CRDS (https://crds.co/#rewards)
For Investors?
Masternode is a server that is connected with the network, that performs certain tasks relating to PrivateSend, which is what the anonymity feature is called. A Masternode gets paid for performing these tasks.
Anybody can run a Masternode. The objective of the Masternodes network is to have enough of them for proper decentralization so that no single person controls an important fraction of Masternodes. On the other hand, to avoid bloating the network or having reckless operators, there is one condition that needs to be met. There needs to be proof of ownership of 5000 CRDS. It is not necessary for the coins to be in the Masternode, but they need to be kept in a certain way. If the owner moves or spends these coins, the Masternode will stop working.
If interested in becoming an operator yourself, you’ll need to “lock away” what’s usually a large number of coins and set up a server through which these holdings can do their magic, as it were.
For Programmers?
The bounty for generating a standalone CPU miner (equally fast or faster than the in-wallet miner) is 15,000 CRDS (External mining)
For noobs?
There is Airdrop & Signature Campingn & Article Campingn now.You can see it here (https://bitcointalk.org/index.php?topic=2488650.0)
3 step airdrop:
1) Join Discord channel: https://discord.gg/Hq7dKhh
2) Download the Credits wallet: https://github.com/CRDS/Credits/releases/tag/v1.1.1.0
3) Sign up here: https://goo.gl/forms/8aNjRCiyi3u9Um2E3
Not all applications will be accepted. Users with the following have increased probability of acceptance:
1) Being active on Bitcointalk
2) Being involved with masternode coins
3) Being involved with mining