What is CREDITS?
In short, the CREDITS platform is a decentralized financial system for direct interaction among participants on peer-to-peer (P2P) principles. The platform expands the potential use of financial services on the basis of a distributed general ledger, intelligent contract self-execution and crypto-currency CREDITS. The aim of the system is to bring all participants together in one place, providing them with a platform to create and use financial services, where everyone can offer a service and use it.
https://credits.com/en/
Current Landscape
A complete peer-to-peer agreement for service delivery systems that allows the formation of financial services: money transfers, foreign exchange and securities exchanges, credits, financing and other services directly between participants. Everything is provided without additional intermediaries, according to a principle - one of the equal participants - to other participants in the system. As a result, everyone gets cheaper, faster and better services.
The world is moving towards direct interaction between people about principles of equals-equal to equal. A revolution has occurred! This is clearly seen in the turnaround of the media: until the 1990s newspapers, magazines and television were the main providers of information. Today, opinion leaders
are bloggers, which are found on YouTube channels and social networks, money is invested in collective funding and ICO, and information is stored in decentralized cloud systems.
The financial industry, perhaps, is one of the few industries that lags behind, resisting the introduction of decentralization and direct interaction among participants. Although technically it is much easier to create decentralised financial services than unmanned vehicles.
A corresponding technological environment is required to create a system of decentralized financial products and services based on the distributed general ledger:
High execution speed (in seconds), along with the ability to handle a large amount of data in seconds.
simultaneous transactions (hundreds of thousands per second) at a low cost for each transaction (to
micro payments and non-monetary transactions).
Development of a system in which all participants and elements necessary for quality are included.
How will the use of CREDITS help in this?
CREDITS has a unique decentralized technological platform can combine all participants of financial services; execute all transactions securely and quickly using the principles of a distributed general ledger. Intelligent contract self-execution and the principles of a federative voting system provide unlimited opportunities for all participants to create unique interactions of various financial products. The platform opens up a new large market and new potential for the use of projects and services of the chain of blocks in financial and other sectors that could not be previously used due to the speed and limitations of transaction costs.
Thanks to a well-defined and balanced technological system, the CREDITS platform offers a new technical solution and a new conceptual model of interaction between participants for the development of modern and decentralised financial services.
Characteristics:
- HIGH VOLUME: More than 1,000,000 transactions per second, with future scalability to 10,000,000 per second.
- ULTRAPID PROCESSING TIMES: Only 0.01 seconds per transaction.
- CHEAP TRANSACTION FEES: Discredited, from around 0.001 USD.
- INTELLIGENT CONTRACT CAPACITIES: New advanced functionalities with an easy to develop interface and programmability.
CREDITS is an open block chain platform with smart autonomous contracts and crypto internal currency. The platform is designed to create services for block chain systems using intelligent, self-executing contracts and public record keeping.
The platform can execute more than 1,000,000 transactions per second and has a runtime of 0.01 seconds. Because transaction fees are minimal, high-volume applications are possible in a way that no other available string of blocks can match.
The CREDITS platform is the first fully autonomous block chain system. The platform offers a new and extended application programming interface (API) that uses a Turing system capable of creating services using unique cycles, schedules and functions. No other platform offers intelligent contract execution speeds similar to CREDITS. In addition, the CREDITS platform can operate completely independently and without the need for external systems. Consequently, CREDITS are fundamentally different from all other platforms in the current block chain.
CREDITS' unique block chain technology offers paradigm shifting capabilities to industries, applications and users that require unmatched scalability. The addressable market for these services is estimated to be worth billions of dollars.
Advantages:
- REVOLUTIONARY TECHNOLOGY OF THE BLOCK CHAIN: decentralised, distributed and open source block network with an unrivalled network architecture.
- ASYNCHRONIC SYSTEM: Parallel transaction processing significantly increases the number of transactions processed per second.
- NO MINING REQUIRED: All currencies are issued in advance, on or before the ICO period. All commissions are distributed among the main and trusted nodes. There is no need for calculations of working tests that require a lot of power.
- REVOLUTIONARY, CONSENSUS-BASED ALGORITHM: Combining several proven coding solutions, CREDITS is faster and more stable than other block chain platforms.
- DATA COMPRESSION: Data is reduced to increase network bandwidth and minimize disk space required by node owners.
Roadmap
Links of interest:
Web: https://credits.com/
Whitepaper: https://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf
Twitter https://twitter.com/CreditsCom
Facebook https://www.facebook.com/Creditscom-1488549834790421/
Telegram https://t.me/creditscom
Linkedin https://www.linkedin.com/company/13370238/
ANN https://credits.com/en/home/ico
By: Andrewsito
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1216520
Myetherwallet: 0xB16Ae1Abd9d918e811B9713AE6F276B6F6079C5f
By Bitcointalk user: andrewsito