need a fast blockchain to carry out your micropayment. You're not going to be able to make a $1-dollar transfer and pay $10 with a Bitcoin? It's not real. In CREDITS network, such transactions will cost approximately 0.001 dollars. There can be any number of users on the platform. In a few years, the platform will be able to handle up to 10 million operations per second. That's a lot. The technology allows you to maintain a good capacity of transactions having millions of users within a network.
product development since the end of 2016. We can meet the demand from users quite quickly. Our first users are scheduled to register already in March and we'll continue to issue the finished full-featured version until about June next year.
There can be any number of users on the platform. In a CAN YOU GIVE AN EXAMPLE few years, the platYOU LIKE BEST? form will be able to Imagine a loan service built on handle up to 10 milour blockchain and smart contracts, which, through the internal lion operations per algorithm, automatically process- second. es loan claims and grants them. And it doesn't care where the borrower is. It can be anywhere in the world. Without borders and bank licenses. It is a global service for the world's inhabitants. The deposit services also work in this way. They automatically accept funds, accumulate and issue them as loans, or work as stock products. Yes, it's going to take years, but it will happen. WHAT IS THE CURRENT STATUS OF YOUR PROJECT? We have the MVP today and we'll be ready for the Alpha version soon. We've been working on
We'll have the ICO in January 2018. Collected a small sum at pre-ICO: 700 000 USD, as of the beginning of December. WHAT ELSE IS TECHNICALLY NEW BESIDES SPEED AND TRANSACTION PRICES? Perhaps the biggest innovation that CREDITS platform offers, is its new truly complete smart contracts. It is not everyone's knowledge that the capabilities of Ethereum network, which were pioneering in smart contract development, are limited, and there is no way to implement everything that users may want to do. For example, you cannot make regular writeoff payments or set off a specific payment date. WHY DID YOU GIVE UP MINING? To ensure there is a fast and stable operation within the network. In any blockchain, it takes a long time to validate a transaction and add it to the chain. In the case of Bitcoinâ€™s network, for example, 1 to 30 minutes is required for a single transfer, and a user pays a good commission. Regarding CREDITS transactions, it is from
0.01 to 3 seconds. In addition, users will no longer have to spend huge sums to constantly upgrade their production equipment. IS YOUR SYSTEM CONSIDERED DECENTRALIZED? Of course, it is. It is a blockchain project after all, with a public registry, independent nodes, consensus and the strongest private key. CREDITS platform security is guaranteed by a hybrid consensus algorithm. We've upgraded the platform and made it more secure. HOW DO CREDITS TOKENS DIFFER FROM OTHER TYPES OF CRYPTOCURRENCY? As a cryptocurrency CREDITS technically have the same characteristics; our coins are of the same makeup as in Bitcoin. However, we have a limited number of coins. Internal cryptocurrency CREDITS (CS) is an internal means of payment, but can also be used outside the platform and can be exchanged for other currencies. TELL ME, WHY ICO? WHY NOT VENTURE FUNDS? Not everyone understands that but nevertheless, crypto projects have to be developed through an ICO. These are investors and future users of our project and of the cryptocurrency as well. Some venture funds are surprised with the fact that the project has no profitability. The project has no income. Well, there is some, but it serves for maintaining the network owners. That is, all commissions are distributed to node owners, those who support the network as other blockchain projects. The CREDITS ico is scheduled for January 2018. 7
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