Topic: [ANN] CREDITS - New Blockchain for financial industry [OFFICIAL THREAD] - page 2. (Read 40208 times)

The Credits team announced that 300,000 CS tokens were distributed among the node owners in October

https://credits.com/news/162-node-reward-program-october-update.html

Why is the price tanking so badly.. is it going to go to 1 satoshi before it goes up.

DeFi Trend

Credits, 14.10.2020

Decentralized Finance - is an ecosystem of decentralized applications (DApps), built on distributed networks without any centralized governing body. DApps are aimed to provide financial services.

This ecosystem is created to establish new financial relationships in the upcoming decentralized space. It allows you to exclude unnecessary intermediaries, to speed up all the processes, and to bring transparency to all levels.

Credits smart contracts fees

Credits, 12.10.2020

Following our article explaining what is a smart contract, together with a manual on how to use it on Credits blockchain. We wanted to bring up your attention to the fees for the Credits smart contract currently in place.

As you may know due to the booming DeFi projects built on the Ethereum protocol, their contract charges have become very high. And this caused the crypto community concerns.

Smart contracts are initially a digital alternative to the legal agreements, they are one of the steps of the blockchain revolution happening right now, and they serve to simplify procedures, and lower costs.

Continue reading:

Credits Weekly Digest Oct the 9nd



Credits, 09.10.2020

Hey Credits Community.

This week was pretty busy for our team. We had some important news these days, we would like to highlight them below.

Learn what the REST API is and find the manual on how to use it on Credits blockchain here.
 
This week Q&A session with the CEO of Credits, was larger than usual and we covered many important topics there, we encourage you to read it and learn our latest updates and vision for future product development. Anything you wanted to ask, please write to us on our TG channel and social media, we will answer in this section.

Yesterday we have disclosed Credits Staking Program Concept. This is important. We are bringing it up for the voting and would like to head back your feedback (good or bad) in order to decide whether we go ahead with it or not.

Today we’ve published our 4Q 2020 Blockchain development plan, containing all technical details.

Dear crypto community, we remind that our airdrop competition is still on, you have got a chance to create a token on Credits protocol and win a prize by participating. Details are here.

Our weekly Credits Update with Arjan Eikelenboom was out last Saturday, if you haven’t seen it yet, watch it here.  

Happy weekend everyone and if you still do not have our crypto wallet, get it asap! We are continually adding more coins and functions, the new design is already there.

Install our CS Wallet! Android/IOS

Credits Wallet provides highly efficient service for cryptocurrency operations
You can buy, sell, and send Crypto assets with amazing speed and super low commission.  

Blockchain planned updates 4Q 2020




Credits, 09.10.2020

We have provided below a detailed description of the Mainnet updates planned for 4Q2020.

Your related questions are welcome, please submit via our social media and TG chats.

October 2020

Synchronization: multithreading processing. Finalizing a new synchronization mechanism.

Thrift documentation, smart token Methods. Documentation on the thrift interface for a node, methods for processing smart contracts, and tokens.

Internal testing for obtaining 100k-1M TPS requirements. Internal testing for getting requirements on the way to 100K-1M.

Web wallet update: sending transactions in the background and parallelization. When the transaction is sent out, it goes into the queue to wait there for the node message. The message should confirm the installation in blockchain or its rejection. The main screen is not getting locked after the transaction is out. So you can continue working, including sending new transactions.

November 2020

The Monitor and Node Update. Statistics on trusted nodes. The monitor and the node modification will include information about funds delegation to the accounts of trusted nodes into the statistics.

Consensus: restriction on the staking cap to 500k.  Setting a psychological limit of 500K for the size of the stake, the probability of becoming a trusted node is the same for nodes over 500K.

Updating The Monitor. Removing inaccuracies noticed in monitor operation: the output of graphic and text information.

API update. Completing the API node, so it is able to work with the web-wallet or any other wallet in the sending mode by any other wallet in the transaction sending mode in parallel processes.

December 2020

Quick start of a node in 10 minutes. Start without reading the blockchain database.

Protection against database locks. Development of protection against shutdowns caused by incorrect operation of the database.

Protection against Executor locks. Development of protection against shutdowns caused by excessive memory consumption by the executor.

Select trusted for N rounds 100. Introduction to the consensus the choice of trusted nodes once in N rounds (by default N = 100).

Q&A Session with Credits’ CEO Igor Chugunov

Credits, 08.10.2020

Dear Credits Community. Thank you for your questions sent to us via our social media and TG chats. We were overwhelmed with them last week. Please find below the answers from Credits CEO, Igor Chugunov.

Thank you for your engagement!

Continue reading:

Staking and Mining Program. Increasing remuneration for trusted nodes

Credits, 08.10.2020

The Credits team prepared this detailed article to provide an explanation of the mechanism of choice and reward for trusted nodes at this moment and introduction to a new reward program for nodes. 

A proposal for this came from our loyal Credits community and node holders and we would like to hear your thoughts on this.

Continue reading:

Manual Token Swap: September Update



Credits, 02.10.2020

Credits team is delighted to share an update of the Manual Token Swap.
On the 1th of October, another part of the Manual swap coins has been distributed. The total amount of swapped tokens has reached 218,358,599 CS.

The Manual Token Swap is carried out from December 20, 2019, to December 30, 2020. This opportunity for exchanging coins is provided for CS holders who missed the swap through exchanges. The next distribution of coins will take place on the 30th of October.

The statistic of Manual Token Swap:
The total number of participants - 1370
The total number of exchanged manually tokens - 110,890.416

The current instructions for participating in the manual swap are available here. For all questions about the manual swap, please contact [email protected] or the representative of the Technical Support team of the project on Telegram at @botstorm

Credits Weekly Digest Oct the 2nd

Credits, 02.10.2020

Autumn has arrived this week, we wish you to have a productive one. Here is the latest from the Credits team. 

Learn what is the difference between a coin and a token, and find the manual to create your token on Credits blockchain in our article.

Following up on the topic of your token design, we launched a new airdrop competition this week, inviting you to create a token on Credits protocol and win a prize for this. Details are here.

Continue reading:

Note from Igor CS Coin in economics



Credits 02.10.2020

Hi everybody.

On this note, I would like to share with you our strategy for CS coin economics within our future mobile banking Credits Wallet. I hope this will answer the question of why we need a wallet and how it will bring new Credits and CS users as well as which functions CS will play in the wallet.

During our ICO, we set a target to build a unique blockchain protocol and this has been achieved. However, blockchain is just software. It is a low first layer solution for developers and business. It is like a programming language C++/Java or cloud storage of tokens issued. It is not a service by itself, which can be utilized by users. Consumers are ready to use blockchain when it is adopted and released in products and simplified for everyday life.   

Credits Wallet is a bridge between the consumer and the Credits blockchain platform, fiat, and the crypto world. It will facilitate the usage of the platform and CS. We are simplifying the process of CS purchasing via Visa/Mastercard and traditional payment methods. Every account in the App will automatically become a user of the platform: CS, tokens, and stable coins.

Below I have summarized several potential solutions that we plan to launch very soon (all or some of them).

Higher cashback rates for those holding more coins. From 0.5% as a minimum to 5% who has $50k in CS

Lower transaction and payment fees for those holding a certain amount of CS: the more CS you keep, the lower the commission

App service monthly fee charge in CS

Incentive with CS rewards to engage users to use Credits products and services

By bringing in these features in the App we are aiming to invite new customers and increase the recognition of the Credits platform and products.

There are millions of potential customers who we invite to onboarded in 2021 when all services and locations are added. It’ll bring revenue streams to the company in the future and will make the project appealing to venture capital investors. Of course, we are going to spend a part of our profit on further developments and popularization of the Credits blockchain platform and products.

I hope you found this short explanation of our strategy for CS coin worldwide acceptance interesting.

Be with us, more news to come.


Igor Chugunov,
CEO of Credits.

The credits team in their twitter is conducting a survey which of the factors are the most important when choosing a wallet
https://twitter.com/creditscom/status/1311277550337957889?s=20

Note on Credits’ wallet last update

Credits, 29/09/2020

Last week we’ve made some updates for Credits’ wallet.

We added several usability tips.

In the new version:

- we set icons for each type of asset to be shown on your screen
- for your convenience, we inserted dynamic links to monitors (applicable for external transactions)
- we divided the history of your actions by dates
- in the setting section, we built-in light and dark themes, you can select the one preferred manually
- we finished refining the algorithm of user balances updates, and it is now behind this little but highly important function 

We’ve also slightly changed the visual appearance of the wallet, and now it is in a complete line with a platform.

It looks trendier and more stylish. Check it out!

We continue working on more features and improvements and we are preparing a short video to demonstrate the new design of the app, stay tuned!

Install our Credits Wallet! Android / IOS

Credits Wallet provides highly efficient service for cryptocurrency operations
You can buy, sell, and send Crypto assets with amazing speed and super low commission.

Q&A Tuesday Session with Credits’ CEO Igor Chugunov

Credits, 29/09/2020

We collected questions from all our social media and community chats last week and I am happy to answer the main of them below. Thank you for your engagement!

Q:  “When cs wallet available in Asia?”

A: Thank you for the question. The availability of digital products depends on local regulations. We have touched this subject in our recent article. To make it short: as there is no unifying law on the crypto products, we as a company have to present our products for each new region separately. Credits’ wallet was launched in the EU first as a big part of our community is based there. We are in process of finalizing the best legal option of presenting it in Asia and other regions too. We will keep you updated on the exact expecting timing in our roadmap.

Also please note that we have 2 wallets, Credits wallet, which is yet not available in Asia.

And CS Crypto, available globally, and these are the links below for getting the app.

I hope it helps!

https://apps.apple.com/ru/app/cs-crypto/id1453191196?l=en
https://play.google.com/store/apps/details?id=com.credits.CreditsWallet

Q: “Wazirx delisted CS. What can I do?. I Have 20k cs coin.?”

A: You will need to contact the exchange, and ask for the withdrawal of your ERC20 tokens. After you have done this, you can swap using the Manual Swap Guideline.

Q: “What is your opinion on the hacking of the KuCoin exchange? Were Credits affected by this hack?”

A: It is a pity this happened. This hacker’s break-in indeed reminds us all that the security of the products in the crypto world should be kept under constant guard and improvements.

Credits would like to inform you that we were in touch with KuCoin right after the incident and can confirm that our holders were not affected.

Q: “Gateio swapped to native CS coin, right?”

A: Yes, Gateio have made the swap quite a while ago, our native coins are now traded there.

Q: ”Hello what's the difference between delegate and node

Is both earn the same rewards? And one question, which is better staking or delegate

Means which way I earn more income?”

A: Node is a contribution in the consensus-building and you can earn on it as per the bonus structure in place.

Delegation means the process of "lending" your coins to someone. Delegation is done with a condition that the person who borrowed it from you cannot transfer them. But these coins will be taken into account when the process of the trusted node choice is made in the consensus. You have got the option to delegate for a fixed period of time and they will return to you automatically;  or indefinitely, in this case, you will need to bring them back by yourself.

You can and will earn by keeping the node as per the bonuses Credits’ structure, in addition to this currently, we run the Node reward program to support holders.

Today delegation as a method of earning yet does not allow you to receive a direct profit, unless you agree with a borrower on some dividend.

With a future progressive building of Credits’ consensus and its expansion, you will be able to earn from the delegation process directly.


Thank you for staying with us and taking active discussions in our TG chats, please send us more questions you would like to be covered here.


Igor Chugunov,
CEO of Credits.

Manual on how to create a token on Credits’protocol

Credits, 28/09/2020

To escape any confusion we would like to first give a definition for crypto token and coin.

Crypto Coin - is a virtual asset built on its blockchain. An example of a coin is the CS, based on Credits blockchain. The coin is also sometimes called a native coin.

Crypto Token - is a virtual asset, which is managed by any smart contract and underlying distributed ledger, which is created on a blockchain protocol (not his native).

Decentralized?

You could NEVER reach consensus in a decentralized fashion,  and claim to have millions of transactions per second.


Let be honest here.... And promote where we do add value....if we're going to turn this project around.

It is STILL to this day impossible to reach millions of TPS without consensus made with just a few nodes.... For Credits and every other project out there. That speed is still not possible without centralized consensus.

Weekly Digest Sept 25th

25.09.2020



We had the other busy week here at Credits, and this is the latest from us!

We keep the job in educating our community about the blockchain products and services you can find on our platform. This Monday note we dedicated to the smart contracts, article, and the manual helping you to build your contract here.

Q&A Tuesday Session with Credits’ CEO, Igor Chugunov, where you can find answers to the most asked questions of last week.  Just to remind you anything you wanted to ask, please write to us on our TG channel and social media.

Among other news: CS coin got delisted from WazirX. This is because CS coin now moved to Credits’ blockchain, and Wazirx is not ready to integrate with mainnet and still using ERC20 CS. When exchange can embody CS native coin, it may be returned there.

We share the view that Credits’ blockchain is a project which potential is yet to be discovered by the market, more details here.
Our wallet app demonstration is out in this short video, watch, and download! More features are to be added soon! 

Credits’ CEO, Igor Chugunov talks about blockchain adoption obstacles for industry and Credits, with the practical cases of this sector. If you are in this space not by the accident and want to understand how it is maturing we recommend reading.

Thank you for participating in our poll on the most important element of blockchain. According to our audience, decentralization is far ahead with 41%, speed & capacity 27%, ecosystem 21%, smart contracts in place are the last with 11%.

Difficulties of adoption in blockchain. Note by Credits’ CEO

25.09.2020

Blockchain emerged in 2009 as a fantastic revolutionary technology. But the road to its adoption was not easy ever since.

In this note, I would like to share some of our experiences and setbacks we had in our business development as well as my views towards overcoming the difficulties we as an industry face.

When we were entering this space in 2017 we set the main goal of developing our own unique blockchain protocol. We fully achieved this, created the whole ecosystem on Credits' platform and additional user products.

The key challenge for us became a matter of popularization of our protocol. Other chains succeded better than us, sometimes with fewer technical advantages. To reach the required level of usability we have to take into account many things.

Continue reading:

Credits’ as blockchain with great potential. Current market obstacles.

Credits, 23/09/2020

Problems of the market

The Crypto industry is on a rise with hundreds of new projects and pivot cases appearing on the market every day. But it seems that technology moves forward so quickly that other parts necessary for the successful conquest of the market are left behind.

We find that major things having an impact on progress are the absence of a unified legal basis for industry, the usability and scalability, data rights, and security.

Q&A Tuesday Session with CREDITS’ CEO Igor Chugunov

22/09/2020

Every day we receive dozens of questions from our community and today I would like to answer those asked most frequently last week.

Q: “Arjan left CS?”, “Where is Arjan with weekly videos?”

A: Arjan still is in Credits’ team. We are aware that you would like to see him more often, and therefore relaunching videos with Arjan soon.


Q: “Credits ETH contract is still working or stopped?”

A: It works on a monthly basis on dates from 25th to 30th (for the option of swap token to coin). Details are here: https://creditscom.zendesk.com/hc/en-us/articles/360008147078-Manual-Swap-Guideline


Q: “Is that true bitfinex gonna delist CS?”

A: That is not true, we are collaborating with them on integrating native CS coin, volumes are small as ERC 20 token is there.


Q: “What's the team doing? Why the team not come with a new update and new exchange?”

A: Team continues to work on developing blockchain protocol as well as updating other ecosystem products. We post updates in all our social media and website blog and also publish Weekly Digests, you can find the latest results and team achievements there.


Q: “Are there any new partners in the near future???”

A: We are not putting all the emphasis on new partnerships. At present, we continue working with those partners already existing and engaged into creating real technological solutions. 


Thank you for staying with us and taking active discussions in our TG chats, please send us more questions you would like to be covered here.

Igor Chugunov,
CEO of CREDITS.