Lately, we have arrived at the third generation of blockchains. The first generation was that of the Bitcoin. Groundbreaking, but now on the slow and expensive side. The second generation made it possible to work with smart contracts. And now, the third generation has arrived. It combines cryptocurrency with smart contracts and is able to process many transactions at enormous speed. CREDITS is the newest kid on the block and has something special to offer: the possibility to work autonomously.
What is CREDITS?
In order to be able to clarify what CREDITS is, we first have to take a look at the whitepaper. The development team tries to make the essence of their product clear in only two sentences: “CREDITS platform is a decentralized financial system for direct interaction between participants on a peer-to-peer (P2P) basis. The platform allows delivery of financial services via a distributed ledger, self-executing smart contracts, and CREDITS cryptocurrency.”
CREDITS is a new blockchain based on the technology of decentralized ledger. This means that the database of the blockchain is stored decentralized at different locations. This proven technique makes it difficult to hack the database and should make it completely safe. CREDITS complements this with smart contract technology that can be run autonomously via cycles and on schedule. Through API developers can use those smart contracts, so that they can be linked to all kinds of products and services.
The development team claims that the blockchain can handle more than one million transactions per second and the price for a transaction will be around $ 0.001. CREDITS does not use mining technology. All coins will be in circulation after the ICO and this number will not grow any further. CREDITS provides a Software Development Kit for developers, so that they can easily program smart contracts for this blockchain.
On its website, the team indicates that the focus of the blockchain is currently on applications in the areas of financial services, medicines, identification, exchanges and the Internet of Things.
What can you do with the token?
CREDITS issues the CS. The CS token is first issued as a temporary ERC20 token. When the blockchain is live, you can redeem it for the final CS token. The CS is the cryptocurrency of this blockchain. For all transactions done on this blockchain, you will need to use this token.
What does the roadmap look like?
The team of CREDITS has already been working on their product for quite some time and since January 2017 it has been developing a MPV. This was delivered at the end of last year and can be tried at the website. The ICO will be completed in February. The Alpha version of the blockchain should also be introduced this month. The Beta version is scheduled for March. The pre-release follows in May, after which the final blockchain should be live in June of this year.
Why this ICO?
The ambitions of the CREDITS team are high and a solid budget is needed to achieve them. The token, as with any blockchain projects, plays an important role in the ecosystem and must therefore be brought onto the market.
What are the details of this ICO?
|Total coins issued||1.000.000.000 CS|
|Coins at sale||600.000.000 CS|
|Price||1 Ether get’s you 5.000 CS|
|Data||Februari 15th untill Februari 28th
In the video below, the CREDITS team explains how the platform works.
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