Preview
Back in the days where most of our ways of doing was centralized in the sense that, organization, government and agencies depended on higher authorities which served as backbones. Even in computing, network to be specific, a certain topology like the star demonstrate some form of centralization. Apparently, these architectural style have downsides with the most popular being a central point of failure. This can further be explain as, if there is a problem with central component, the entire network goes down. This is quiet overwhelming and as a result has led to the age of decentralization. The same idea has been adopted by the blockchain to solve real life problems.
What is Blockchain
As the name implies it is a series of blocks contain records of transactions which are linked together with cryptography. It can also be referred to as an open disturbed ledger for safe keeping of transactions between parties. The nature of the blockchain makes it perfect for its intended purpose because of its resistance to tampering and falsification, elimination of trust.
The blockchain was first introduce by an anonymous group/individual known as Satoshie Nakamoto to serves a public transaction ledger for bitcoin (first crypto currency to be used as a means of payment) transactions. Since then, there have been a number of blockchains developed for specific purposes and integrated into sectors like business & finance, supply chain, gaming, health etc.
The Credits Blockchain – Let’s take a closer look!
It was in 2008 when the blockchain was invented and as at now we can guess and get it right that there have been a long of development throughout the years to improve this interesting technology. The credits blockchain is no exception. The credits decentralized and lightning-fast infrastructure blockchain protocol has come to help businesses to implement and incorporate blockchain into their business processes. We have made mention of some uses of the technology in specific areas and their remarkable performance.
The credits blockchain uses the proof-of-agreement consensus algorithm which comes with series of multiple validations to manage the network. Another issues with decentralized blockchain is speed when in reference to data processing. To address this Credits has introduced the “Credits Data Transmission Protocol (CDTP)” which makes it possible to process transaction in 0.1 sections and up to a million transactions/seconds.
Data validation on the credits blockchain also demonstrate high tech validation and verification model. Data are ensured of no alteration and disturbance with the help a multi-threaded database and other useful tools and approaches.
Components of the Credits Blockchain
The credits infrastructure is made up of discrete tools and services that makes is appealing for users. Now, let us look at some of the integral part of the credits blockchain
Network Nodes: If you are familiar with blockchains and how they work, you will know that in order to maintain a stable, decentralized and properly functioning network, the services of nodes dispersed around the world to verify and validate transactions is needed. This aspect is very import in most consensus algorithms. In return for this services rendered by nodes, they are remunerated with $CS. This is a way to support credits network and earn passively.
Wallet: The way some of us keep our money in wallets and purses, the same idea is put to use in cryptocurrency and blockchain. One needs a wallet to store and manage his or her crypto and as such Credits has made provision for a wallet that meet the needs of diverse users. Whether you are the desktop type, mobile type, there is a version for you. The desktop wallets are available for windows and Linux users whereas the web and mobile version are in IOS and Android enabled devices.
Others Credits Services: To make the infrastructure a one stop shop, other service have been included like Ceser – a browser extension that allows users to connect to the Credits network. It currently available for chrome and opera with plans to include others along the line.
Another one which is in the pipeline is the Credits decentralized exchange that will facilitate the exchange of $CS and other tokens deployed on the credits blockchain.
The Credits blockhcain is open for all and can be used by businesses and individual to achieve the following:
- Deployment of smart contracts
- Execution of peer2peer transactions on the blockchain
- Using credits ($CS) as mode of brother less payment (micropayments, mass financial payments)
- Seamless Issuance of tokens and financial assets
- Data storage on blockchain
Features of the Credits Blockchain
Looking at the number of blockchain in the market today, there should be certain characteristics that is peculiar to a specific blockchain. Credits has amazing features that it could boast of in the industry. These features makes it widely and easily to adapt in most industries and sectors. Let's take a look
Strategic Partners
Ask yourself why big companies, businesses and developers rely on Credits blockchain for their business solutions? The answers is simply because the platform does what exactly it was intended for. There is a saying I cherish much and its says "if you can't beat them, just join them"
Conclusion
Through this report we now understand the blockchain to some extent and realized the import of the technology in our daily lives. Credits has made it possible for everyone to play a role in their ecosystem. If you are business owner, developer, or an enthusiast, the credits platform is always at your disposal to help you develop your business solutions.
News & Update
- Annual Report 2019: Milestones & Achievements - Read more
- $CS coin integration in to ShareRing - Read more
- Credits Partners FinWhaleX - Read more
Community Stats
Twitter: 46,781 followers
Facebook: 65,739 likes & 70,037 followers
Telegram: 20,245 members
Reddit: 10,144 Members
Instagram: 9,578 followers
Reference
Website: https://credits.com/en
ANN Thread: https://bitcointalk.org/index.php?topic=3375263
WhitePaper: Download Here
Twitter: https://twitter.com/creditscom
Facebook: https://www.facebook.com/creditscom/
Telegram group: https://t.me/creditscom
Instagram: https://www.instagram.com/credits_com/
Medium: https://medium.com/@credits
LinkedIn: https://www.linkedin.com/company/13370238/
Youtube: Watch
Reddit: https://www.reddit.com/r/CreditsOfficial/
Content Credit
BitcoinTalk https://bitcointalk.org/index.php?action=profile;u=2596274
Telegram: https://t.me/therealthinkright