[ANN][ICO]CREDITS - New Blockchain for financial industry [HARDCAP REACHED!] - page 176.

Heruur

full member

Activity: 140

Merit: 100

Quote from: termonator61 on December 08, 2017, 03:19:49 AM

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

The technical documentation have to detailed those kind of explanation. The description of the implemented consensus mecanism is very important to figure out how the protocol works.

You have a promising technology no doubt about your success.

Delicieuxz

full member

Activity: 237

Merit: 250

Our developers are engaged in testing the modules for CREDITS

Status update on our technical progress. Our developers are engaged in testing the modules.
At the moment, we are testing the module for connecting nodes to a network, which allows creating segmented connections in the network and optimise the resources of the node;
Also, there are a local storage management module at the testing stage, responsible for storing, providing and initialising the initial information on system accounts;
At the stage of local testing there is a module that is responsible for signing the transaction for verification purposes and encryption through a public key;
Moreover, at the testing stage, there is a module responsible for solving the consensus algorithm, which allows to create segmented parts of the network involved in the decision-making processes. At the primary development completion stage there is a module working with JAVA contracts.
From now on we will be keeping you up to date with our technical progress.

deort

member

Activity: 406

Merit: 31

Quote from: spacegt on December 08, 2017, 03:23:20 AM

Quote from: termonator61 on December 08, 2017, 03:19:49 AM

Quote from: spacegt on December 08, 2017, 03:08:03 AM

Quote from: termonator61 on December 08, 2017, 03:05:31 AM

Quote from: spacegt on December 08, 2017, 03:01:56 AM

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

Hah, such a team would probably consist of several thousand specialists) As for me, I found this information on some forum, some “newcomers” discussed this matter. By the way, how is the process of determining the main node in CREDITS carried out?

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

I didn’t expect such a detailed answer, anyway) But thank you very much, now I'm at least aware of the actual state of things on CREDITS.

Hello. It’s a very good detailed answer, thank you! Can you tell us how the node searches for the hash function value?

spacegt

full member

Activity: 336

Merit: 100

Quote from: termonator61 on December 08, 2017, 03:19:49 AM

Quote from: spacegt on December 08, 2017, 03:08:03 AM

Quote from: termonator61 on December 08, 2017, 03:05:31 AM

Quote from: spacegt on December 08, 2017, 03:01:56 AM

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

Hah, such a team would probably consist of several thousand specialists) As for me, I found this information on some forum, some “newcomers” discussed this matter. By the way, how is the process of determining the main node in CREDITS carried out?

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

I didn’t expect such a detailed answer, anyway) But thank you very much, now I'm at least aware of the actual state of things on CREDITS.

termonator61

full member

Activity: 280

Merit: 100

Quote from: spacegt on December 08, 2017, 03:08:03 AM

Quote from: termonator61 on December 08, 2017, 03:05:31 AM

Quote from: spacegt on December 08, 2017, 03:01:56 AM

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

Hah, such a team would probably consist of several thousand specialists) As for me, I found this information on some forum, some “newcomers” discussed this matter. By the way, how is the process of determining the main node in CREDITS carried out?

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

spacegt

full member

Activity: 336

Merit: 100

Quote from: termonator61 on December 08, 2017, 03:05:31 AM

Quote from: spacegt on December 08, 2017, 03:01:56 AM

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

Hah, such a team would probably consist of several thousand specialists) As for me, I found this information on some forum, some “newcomers” discussed this matter. By the way, how is the process of determining the main node in CREDITS carried out?

termonator61

full member

Activity: 280

Merit: 100

Quote from: spacegt on December 08, 2017, 03:01:56 AM

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

spacegt

full member

Activity: 336

Merit: 100

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

starblocks

hero member

Activity: 1344

Merit: 502

How does this project compare to Neblio which aims to have a block time that can be as low as 5 seconds?

zloadr

full member

Activity: 308

Merit: 100

Doctailor IEO on Zloadr

Hey devs!

Check your ICO listing & other great cryptonews on Zloadr https://www.zloadr.com/icos?id=133

PM us if you have an advertising needs we hope to make your an ICO a great success!

NakiRR

member

Activity: 574

Merit: 12

Quote from: bit679 on December 07, 2017, 09:07:19 AM

I wonder with what equipment or technical solutions CREDITS platform will be able to handle hundreds of thousands of transactions each second?

Big data servers around the globe will help with it

NakiRR

member

Activity: 574

Merit: 12

Quote from: bittcrypt on December 07, 2017, 08:56:43 AM

It is true, that there will be an escrow for the ICO’s funds?

Yes, CREDITS Platform have FOUR ESCROWS

NakiRR

member

Activity: 574

Merit: 12

Quote from: askon on December 07, 2017, 06:54:40 AM

Hi everyone. If I understood it correctly, in the process of working of the system one block will be transmitted between all crosspoints. What are the advantages for users from this process?

this can be attributed to the advantages of the platform in security

NakiRR

member

Activity: 574

Merit: 12

Quote from: specialAU on December 07, 2017, 04:04:54 AM

Hello. I want to buy some tokens now, but I have some problems with the access to the address from which I want to send Eth. Will there be any problems because of this?

there are many problems in ethereum network now, it's a pity, but you should send ETH only from wallets to which you have fully access and all keys, and put gas limit more than you do it usually - GAS 300 000 (unused gas will be returned to you), GAS PRICE is set at 24 gwei (minimum).

Gamelander

full member

Activity: 336

Merit: 100

Good day, everyone. I was wondering what kind of information will be stored in the registry’s block? And is there a possibility that the data block can be kidnaped by criminals?

bit679

full member

Activity: 392

Merit: 100

I wonder with what equipment or technical solutions CREDITS platform will be able to handle hundreds of thousands of transactions each second?

hunterofmoney

full member

Activity: 280

Merit: 100

Hi. I heard that this service will give the opportunity to withdraw and cash out cryptocurrencies. Is this true? How will this be done and what will be required from the user for such operation?

fgreg2692june

member

Activity: 294

Merit: 10

Quote from: bittcrypt on December 07, 2017, 08:56:43 AM

It is true, that there will be an escrow for the ICO’s funds?

Yes, that's right! The money will be available for developers only after the launch of the alpha version of the project.

bittcrypt

member

Activity: 196

Merit: 10

It is true, that there will be an escrow for the ICO’s funds?

nothappend

full member

Activity: 280

Merit: 100

Quote from: unkletoken on December 07, 2017, 05:04:13 AM

Quote from: sinfazat22ron on December 07, 2017, 05:00:10 AM

Quote from: unkletoken on December 07, 2017, 04:58:09 AM

Quote from: MadduckUK on December 07, 2017, 04:45:38 AM

I don't quite understand why the platform use several crosspoint. I think this will make extra load on the server, which lowers the speed of transactions’ execution. And besides, the system will need to determine what crosspoint to use in each moment of time. In short, a dubious technical decision of the developers of CREDITS.

It's just the opposite. After all, to achieve high-speed processing of a large number of transactions, the platform will require several types of crosspoints. In addition, this is necessary to build a decentralized network, based on open access and the crosspoint’s connection.

And how many crosspoint’s types will be in the CREDITS system?

Developers have involved three types of crosspints in the platform's work: the normal, the trusted, and the major. Each of them will be responsible for executing their specific functions. This approach provides high-speed work of platform and maximum safety.

Very interesting approach to the technical implementation of the system. And can you tell why the main crosspoint will play a crucial role in the work of the platform?

Topic: [ANN][ICO]CREDITS - New Blockchain for financial industry [HARDCAP REACHED!] - page 176. (Read 37729 times)