Topic: [ANN][ICO]CREDITS - New Blockchain for financial industry [HARDCAP REACHED!] - page 194. (Read 37749 times)

How many transactions that are formed and submitted for processing can there be in the network?

How long does one cycle last? Or isn’t this a fixed value?

As far as I know, developers consider a cycle of searching for the main and trust hosts as a time unit

Hello. Tell me please, what is considered as a time unit in service’s operation?

Will the speed of processing transactions be high in this case? And what about security?

That’s right! Developers managed to find an alternative option which is a registry of transactions, each record of which consists of hash-code of block of transactions for adding to a list of candidates to be added to the registry.

Won’t this affect the security of the service? Or have developers found any alternative?

I think that it has something to do with the decline of speed of proceeding transactions and increase of strain on equipment. This would lead to additional costs.

Hello. Why did you decide to refuse using Merkle tree in your platform’s operation?

You should ask it in telegram chat, there it will be faster to get answer
https://t.me/creditscom

I'm thinking to get in, really like the project. Just to clarify your,
Pre-Ico bonus...1 Ether=5000 Cs  +30%  Pre-Ico Bonus + 20% if I invest at least 50Ether,right?
Means 50 Ether will give me 375.000 Cs?!
(50x5000 + 50%)
Thanks for clarification!!!

All network nodes are decentralized and none of them have priority. It is required to define a
network node that will process the queue of transactions stored at different network nodes. After that, it
must enter a newly generated transaction block into the ledger.
The CREDITS platform uses its own combined protocol to increase the speed of transaction
processing, to provide complete security of data storage, processing and transfer of transactions. The
protocol is based on the calculation of the mathematical function of all ledger transactions, applying the
Proof of Work principles. It accurately determines the storage of the latest up-to-date copy of the ledger
and software at this node (Proof of Capacity), by calculating the checksum of the values of the entire
contents – the hash code. The size of files is determined as well, as the proof that this is the latest,
up-to-date copy and a hash code of the latest transaction recorded in the system.
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. We organize 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, 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 SHA-2 algorithm concept is used to calculate the hash sum of the file.
Hash functions of the SHA-2 family are built on the basis of the Merkle-Damgard structure.
The initial message after the addition is divided into blocks, each block is divided into 16 words.
The algorithm passes each message block through a cycle with 64 or 80 iterations (rounds). At each
iteration, 2 words are converted, and the rest of the words define the conversion function. The results of
each block process are summarized. The sum is the hash function value. However, the internal state is
initialized based on the results of the previous block processing. Therefore, it is impossible to
independently process blocks and sum up the results.

Transaction will not be performed and you will be notified of this

Consensus Building
As a result, we have the main network node selected by all nodes. The main tasks of the main
node are: obtaining transactions in the candidate status to add to the ledger from all nodes, processing
them, building the last relevant ledger and sending a newly built ledger to all network nodes. The
process of transaction handling and building of the last relevant ledger is precisely the search for a
consensus solution. The result of building the last relevant ledger is the consensus solution.
The whole process can be divided into the following stages:
1. Search for the main network node;
2. Building of trusted nodes;
3. Receiving the list of transactions and building a list of candidates for addition to the
ledger;
4. Processing the list of candidates, voting of nodes (trusted and common nodes have
different weight factors (trust factor);
5. Removal from the list of candidates of unconfirmed transactions that have not been
verified or having a negative confirmation;
6. Building a list of confirmed transactions to be added to the ledger;
7. Adding transactions to the ledger with the timestamp and hash code of the block that
contained the transaction;
8. Sending the block with transactions to all network nodes. When received, it is added to
the registries of all nodes.

it works now on 2 testing nodes, and in the first period it would would be constant fee 0,001%

What did you mean? Criteria or limitations?

Check it pls - https://credits.com/ru/wallets/login

https://credits.com/Content/Docs/TechnicalPaperENG.pdf

Will the platform use a federated model or any other in order to find a consensus solution?

Good afternoon. What is considered as a solution of the consensus?