CREDITS Cryptocurrency and Blockchain for the financial industry

What's CREDITS?

CREDITS is an open blockchain platform with autonomous smart contracts and the internal cryptocurrency. The platform is designed to create services for blockchain systems using self-executing smart contracts and a public data registry.

The platform can execute more than 1,000,000 transactions per second and has an execution speed of 0.01 seconds. Because transaction fees are minimal, high-volume applications are possible in a way that no other available blockchain can match.

CREDITS platform is the first completely autonomous blockchain system. The platform offers a new, extended application programming interface (API) that utilizes a Turing system capable of creating services using cycles, schedules, and unique functions. No other platform offers smart contract execution speeds near those of CREDITS. In addition, the CREDITS platform can function completely autonomously and without the need for external systems' participation. Accordingly, CREDITS is fundamentally differentiated from any other current blockchain platforms.

We believe that blockchain technology is suitable for financial and loan services, trade, medicine, identification, exchanges, Internet of Things (IoT), and many other applications, some of which cannot yet be imagined.

CREDITS' unique blockchain technology offers paradigm-shifting capabilities to industries, applications, and users who require unmatched scalability. The addressable market for these services is estimated to be worth trillions of dollars.

HOW IT WORKS

The unique system based on the block chain allows you to build high-speed transaction processing financial services, up to 100 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.

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.

ABOUT TOKEN SALE AND DISTRIBUTION

PreICO will start on October 25

We are offering our participants a total allocation of 2% from our overall token supply.

The total number of tokens in circulation may vary, depending on the actual amount raised during Token Sale;

Soft cap for the 1st round of ICO is 80 000 ETH,

Hard cap for the 1st round of ICO is 120 000 ETH,

But in any case 2% of tokens will still be designated to the bounty campaign

1 600–2400 ETH

1 ETH = 2 000 CREDITS (CS)

Total number 100%

2% for bounty

2% for

15% post prize for founders and

Operating team 5%

1% for advisors

75% for Pre-ICO and ICO

Bonus campaigns for PRA-SALE purchase

Bonus for PRA sale — 30%

For more Informations

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Author: bakso.super
Profil link : https://bitcointalk.org/index.php?action=profile;u=1785483
ETH: 0x0A39Baaa338F9F1f5f5b4e52f82095d0dD7c94D8