CREDITS is an open blockchain platform with autonomous smart contracts and an internal cryptocurrency.
The platform is designed to create services for blockchain systems using self-executing smart contracts and public data registry.
The information contained in the document is for informational purposes only. ICORating received monetary compensation in the amount of $1000 from the entity listed in this report, solely for featuring this report on the ICORating website.
However, ICORating did not provide and was not requested to provide a rating for the featured entity.
The information contained in this document was provided by the featured entity to the ICORating Team and from data obtained from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions, and ideas on how to make the analysis more comprehensive and informative.
Presale Date: 10th November — 15th December 2017
Total CS on Sale: 1,000,000,000
Accepts: ETH, BTC
Hard Cap: $20,000,000
Credits’ Main Aim
Bitcoin and Ethereum are the most popular Blockchain platforms at the moment.
These Blockchain networks, though popular, have massive scalability problems that increase both the cost and time taken to complete a transaction.
Ethereum can only process about 15–20 transactions per second; Bitcoin can only manage seven.
Credits founders wanted to create a platform that can process transactions faster and at the same time, reduce the cost of transacting.
Simply put, Credits goal is to eliminate all the current problems associated with transacting with Cryptocurrency.
Credits promises to reduce transaction costs to as low as $0.001, which compared to Ethereum and Bitcoin, is quite low.
At an average of 0.005 dollars per transaction, Ripple is the only blockchain network that can compete with Credit’s rates.
Credits also wants to lower the confirmation time to the tune of 0.01–3.0 seconds, much shorter than Ethereum and Bitcoin.
Credits is targeting 1,000,000 transactions per second, powered by its superior network capacity.
Credits has so many different use cases.
Note the Credits platform has a cryptocurrency of its own, known as CS.
It shares a lot of similarities to projects such as Ripple and Ethereum, and as stated earlier, Credits sees itself as the better, more advanced version of the Ethereum Blockchain.
It allows businesses to process, send, and receive payments faster and in a more secure way.
The project was created to specifically tackle the problems faced by legacy systems. Credits can be used in trading; it allows people to carry out all their transactions in a single registry.
Credits has a smart contract feature that facilitates the sharing and storage of information.
A trustless systems that can bring a lot of advantages for a lot of businesses in the financial industry.
Credits also provide fast, low-cost international payment solutions, which has always been an issue on other platforms.
In future, the Credits team believes that the platform will have many other applications including Internet of Things (IoT), exchanges, identification, and other innovations, some that are yet to be imagined.
- S1 Pre-Alpha
FA : Key Design Implementation Decentralization Ledger, NoSQL Store implementation Design and Implementation Formal Specification and Key Design Elements User interface Implementation Wallet Formal specification RPC & REST API Formal specification
2. S2 Alpha
mFA : Key Design Implementation, PoW + PoC MessagePack History Integration with ecosystem Third-party system Design and Implementation Reasoner Integration with Blockchain Web UX design Blockchain Explorer
3. S3 Beta
mFA Optimization Blockchain backup CVM (Credits virtual machine) Optimisation Third-party system Integrate to full system Reasoner Optimization UX design Application Test
4. S4 Release candidate
CVM (Credits virtual machine) Check errors Android, iOS, Desktop Wallets Third-party explorer
5. S5 Release
Consensus mFA Consensus Optimisation Third-party system Optimisation
Credits Blockchain uses a combination of public data registry, as well as its autonomous smart contracts system to create services for Blockchain systems.
With an execution speed of 0.01 seconds, Credits system can execute more than one million transactions in one second.
Additionally, these transactions are done at a minimal cost owing to the super-fast execution times, no other blockchain can do it quite like Credits.
FOR MORE INFORMATION: