Official CREDITS ANN thread
--------PreICO will start on October 25--------
Other Languages:
------------------
. | Chinese Simplified : (ANN, Whitepaper) Korean : (ANN, Whitepaper) Japanese : (ANN, Whitepaper) Spanish : (ANN, Whitepaper) German : (ANN, Whitepaper) Indonesian : (ANN, Whitepaper) Vietnamese : (ANN, Whitepaper) Romanian : (ANN, Whitepaper)
| Portuguese : (ANN, Whitepaper) Dutch : (ANN, Whitepaper) Italian : (ANN, Whitepaper) Bulgarian : (ANN, Whitepaper) Slovenian : (ANN, Whitepaper) Thai : (ANN, Whitepaper) Danish : (ANN, Whitepaper) Greek : (ANN, Whitepaper)
| Hindi : (ANN, Whitepaper) Polish : (ANN, Whitepaper) Russian: (ANN,Whitepaper) Swedish: (ANN, Whitepaper) Turkish: (ANN, Whitepaper) French: (ANN, Whitepaper) Filipino: (ANN, Whitepaper) Arabic: (ANN, Whitepaper) |
Soft cap for the 1st round of ICO is 80 000 ETH,
Hard cap for the 1st round of ICO is 120 000 ETH,
1 ETH = 2 000 CREDITS (CS)
PROBLEM
______
Creation and performance of financial products on the basis of blockchains and smart contracts with quick transactionsGOAL
______
The creation of a decentralized sector of financial services on the basis of the participant(s), bypassing specialized financial institutions such as banks and intermediariesWHY CAN'T THIS BE DONE NOW?
______
Popular platforms like Ethereum are not ready for financial transactions due to a slow rate of 0.5-15 minutes and a price of about 0.02-0.5 dollars per transaction. This is unacceptable for the financial industry.CREDITS - creates a new platform for the operation of financial products on a unique scheme of building a blockchain/ledger with smart contracts, which achieves:
A speed of processing transactions up to 1 million transactions per second
An average processing time of 3 seconds per transaction
Very inexpensive processing cost
BITCOIN / ETHEREUM
Approximately 100 operations per second
Average processing time of 0.5-15 min
Cost up to 0.02-0.5 dollars per transaction
CREDITS aims to achieve a performance of 1 million transactions per second, an average processing time of 3 seconds and a mean peak value of 10 seconds.
The system is a distributed database with the principles of a blockchain/ledger - decentralized management and transfer of digital assets, invariability of records.
1. Distributed, decentralized storage and open source.
2. Support for public and private networks
3. Each entry is entered into the database of the blockchain/ledger without Merkle trees and sidechains by the processing of consensual transactions.
4. Coded in C/C++ with OOP principals - has the ability to build other compilers
5. Permissions set at the transaction level
6. The system is scalable (as the number of nodes increases, the number of transactions
processed per unit of time increases)
7. Transactions are added to the block for later consensus
8. Consensus model: federal with a mechanism for resolving most nodes with the permission to make a decision.
9. Virtual machine (VM) is used for executing smart contracts. Each contract executes in a separate isolated environment for increased security in VM, development is allowed in script languages (for example, JavaScript), extended work with the calendar and scheduler
10. PoW (Proof-of-work) + PoC (Proof-of-Capacity). Coins are issued in advance for a certain amount.
Bitcoin - payment system and money unit. The task is only to pass from one user to another. Slow blockchain
Similar: public blockchain/ledger, the internal cryptocurrency
Differences CREDITS: fast blockchain/ledger, the availability of smart contracts, orientation on the financial sector, supports different currencies
Ethereum - emphasis on the creation of smart contracts and recording them in the blockchain. All else is solved through the use of third-party services. Oriented for all industries. Slow blockchain
Similar: smart contracts, internal cryptocurrency
Differences CREDITS: another quick blockchain/ledger, supports different currencies, uses an internal system of calculations, focused on the financial sector
Ripple - only used as a settlement system and currency exchange. Closed for developers and companies
Similar: fast blockchain/ledger, a system settlement for different currencies, focused on the financial sector
Differences CREDITS: the availability of smart contracts, an open developers platform, any company can connect to the platform
What is CREDITS?
______
New open platform CREDITS for creation and management of financial services on the basis of the blockchain/ledger
The unique system of building a blockchain allows you to build financial services with high speed transaction processing up to 1 million per second and average speed transaction processing in 3 seconds. CREDITS truly opens up new opportunities to use the blockchain technology in the financial sector.NEW GENERATION OF BLOCKCHAIN
______
. | SUPER HIGH SPEEDBlockchain with up to 1 000 000 transaction per second | PROCESSING TIMEAverage processing time is 3 second per transaction. | VERY LOW PRICEVery low cost of translation. |
CREDITS platform offers new and unique technical implementation of blockchain technology, smart contracts, data protocol and has its own internal cryptocurrency.
It is a platform with completely new technical network capabilities, speed, cost of transactions and total number of operations per second. It is an open platform which means that users and companies can create online services that implement the blockchain protocol.
We offer a new product for users. We designed new features by creating new algorithm to search for a consensus; a new scheme registry; an algorithm for processing and maintaining transaction - based solutions for finite state machines based on the model of Federal voting nodes.
The CREDITS platform offers a solution to low speeds and high transaction costs. It expands the potential which blockchain technology has for the financial industry and the Internet of Things.. | BlockchainDistributed, decentralized storage and open source code. Support for public and private networks. | TransactionsEach record is entered into the blockchain of the block-less database without Merkle trees and sidechaines by processing consensual transactions. | Forming of blocksSet permissions at the transaction level. Transactions are added to the block for the subsequent finding of a consensus on the algorithm for finding the solution of the finite state machine |
. | Consensus modelConsensus model: federal with a mechanism for resolving most nodes with permission to make a decision. | Smart contractsEach smart contract is performed in a separate isolated virtual machine environment, allowing development in script languages ??(JavaScript), extended work with the calendar, scheduled | SystemThe system is scalable (as the number of nodes increases, the number of transactions processed per unit of time increases). The lack of PoW protocol (Proof-of-work). Coins are issued in advance in a certain amount |
Technical features
______
. | Features | CREDITS | Bitcoin | Ethereum |
. | Blockchain and Smart Contracts | | | |
. | Transaction Speed | 1 000 000 transaction per second (up to) | 10 transaction per second | 500 transaction per second (up to) |
. | Block Interval | 3 seconds (average) | 10 minutes | 15 secondss |
. | Block Size | Dynamic | 1 Mb | Dynamic |
. | Consensus Algorithm | modified FA(Federated Agreement + PoW + PoC) | Proof of Work | Proof of Work |
. | Flexible configured blockchain | Yes | No | No |
. | Coins | CREDITS | Bitcoin | Ether |
. | Smart contacts | Yes | No | Yes |
. | Blockchain type | public, private | public | public |
. | Turing-complete code for developing smart contracts | JS equal language | Non-systematic | Solidity, Serpent,etc |
. | Decision Making Process | Democratic Congress (One node=One vote) | Non-systematic | Non-systematic |
. | Speed executing contracts | 100 000 transaction per second (up to) | Non-systematic | 100 transaction per second (up to) |
. | User technical features | | | |
. | Crypto algorithm | Symmetric-key algoritdm + | Asymmetric-key algoritdm | Asymmetric-key algoritdm |
. | | asymmetric-key algoritdm | | |
. | Using third-party systems | Yes | No | No |
. | Allow create own application | Yes | No (very hard) | Yes |
. | API | Yes | No | Yes |
Roadmap
______
. | | S1 | S2 | S3 | S4 | S5 |
. | | Pre-Alpha | Alpha | Beta | Release candidate | Release |
. | Storage, Consensus mFA Consensus | FA : Key Design Implementation | mFA : Key Design Implementation,PoW + PoC | mFA Optimization | | optimisation |
. | Data Store | Decentralization Ledger, NoSQL Store implementation | MessagePack History | Blockchain backup | | |
. | CVM (Credits virtual machine) | Design and Implementation | Integration witd ecosystem | Optimization | check errors | |
. | tdird-party system | | Design and Implementation | integrate to full system | | optimisation |
. | Inference Engine | Formal Specification and Key Design Elements | Reasoner Integration with Blockchain | Reasoner Optimization | | |
. | User interface | Implementation | Web UX design | | | |
. | Wallet | Wallet Formal specification | | UX design Application Test | Android, iOS, Desktop Wallets | |
. | RPC and REST API | Formal specification | Blockchain Explorer | | third-party explorer | |
Project Team
______
. |
Chugunov Igor CEO & Founder
Education: Banking. Experience: 12 years, including IT projects, bank and credit internet services, affiliate marketing company for banks and PDL companies. Experience withblockchain business: 2 years. From 2016 working at the CREDITS platform |
Evgeniy Butyaev CTO
Education: Engineer (software development). Software development experience: more than 10 years. Experience with blockchain more than 3 years, including European organizations various solutions based on blockchain for different customers including StateStreet; solutions based on blockchain in Russia. From 2016 - working at the CREDITS platform |
Valentin Antonov Team Lead
Education: Programmer. Experience: more than 10 years as a programmer and architect building complex and high-loaded systems for the financial and banking sectors. In the blockchain industry for about 2 years. Qualified in platform Ethereum. |
. |
Merejkin Michael Web Developer
Education: Programmer. Joined the team in 2016. Specialist in developing web applications. In this project he is responsible for custom web application. Experience with MS SQL, understands the functioning of a relational DBMS. Web-based applications on ASP.NET |
Matushkina Elena PR manager
Experience in PR for over 7 years. Promotes brands and products in media and over the Internet. Participated in development of a strategy of presence in social networks, and continues working to improve the concept. Content creation (text, photo, video), the reason for social networks. |
Bruce Sadia Development manager
Education: Masters in Communications and International PR. Working experience over 3 years in IT sphere with foreign people. She is responsible for communicating with foreign partners and organizations. |
Advisory board
______
. |
Kyle Wang Senior Consultant IBM Cleveland, USA
«The team is exceptional! CREDITS is a novel approach and cryptoeconomic innovation within blockchain» |
Michael Kapilkov Blockchain Advisement New York
«I am proud to announce that I have joined 'CREDITS' as an ICO Advisor» Founder Healthi, CoFounder Altcoinz, CoFounder I-virtual. |
Elie Galam Bancor Foundation Financial Advisor New York Chief Investment Officer at Eastmore Group, Advisor to Legolas Exchange and Gimli |
Artjom Aminov Blockchain architect at F&L Galaxy, inc London, United Kingdom Developer and architecture of high-availability server-side applications based on blockchain technologies |
. |
Tyler Perry-Smith Investor, Enthusiast Savitr Capital San Francisco «CREDITS can be the catalyst that takes blockchain functionality to mainstream business operations!» |
Jacob Salvador Investor & Trader Blockchain Specialist Oslo, Norway Experienced Investment professional in the venture capital and private equity industry. Skilled in Blockchain technologies |
Christophe Ozcan Blockchain technical - Expert France CEO & Co-founder at Crypto4All, Blockchain Ecosystem Advisor at Rockchain, Blockchain commission member at AFNOR Group |
Presentation / ICO
______
The first stage is scheduled for Q4 2017.
Do not miss these opportunities, please stay connected in our social channels, and first let you know about the updates.
Bounty Campaign
______
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;
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)
Bounty Campaign Token Allocation:
Overall Bounty:
4 800 000 - 7 200 000 CS (equals ~ 1 600 - 2 400 ETH)
Signature campaign 30%
1 440 000 - 2 160 000 CS (~ 480 - 720 ETH)
Facebook campaign 15%
720 000 - 1 080 000 CS (~ 240 - 360 ETH)
Twitter campaign 15%
720 000 - 10 80 000 CS (~ 240 - 360 ETH)
Blogs / News / Video Content campaign 10%
960 000 - 1 440 000 CS (~ 320 - 480 ETH)
Translation / Community Admin campaign 15%
720 000 - 1 080 000 CS (~ 240 - 360 ETH)
Telegram campaign 20%
240 000 - 360 000 CS (~ 80 - 120 ETH)
Join us on telegram