CREDITS - The New Generation of The Financial Industry

DID YOU KNOW ?

1. CREDITS - to create a new platform for financial product operations, in a unique way to build a chain with a smart contract / ledger, can be achieved:

• Processing transactions up to 1 million times per second 

• Average processing time per transaction for 3 seconds 
• Very cheap handling costs

2. BITCOIN / ETHEREUM 
• About 100 transactions per second 
• Average processing time 0.5-15 minutes 
• Cost per transaction to $ 0.02-0.5

CREDITS is designed to achieve one million transactions per second with an average processing time of 3 seconds and an average peak of 10 seconds.

The system is a distributed database with the principle of a block chain / ledger - the decentralized management and transaction of digital assets, the invariance of records.

1. Distributed, decentralized storage and open source.
2. Support public and private networks.
3. By dealing with consensus transactions, each entry is entered into a database of blocks / ledgers that do not have Merkle trees and side chains.
4. The use of object - oriented principles based on the C / C ++ language - the ability to build other compilers.
5. Permissions are set at the transaction level.
6. The system is extensible (as the number of nodes increases, the number of transactions processed per unit time increases).
7. 
   
8. The transaction is added to the block to reach a consensus later.
9. Consensus model: The joint mechanism makes most nodes the right to make a decision.
10. Virtual machines (VMs) are used to perform smart contracts. Each contract is executed in a separate, isolated environment to improve the security of the VM, allowing development in a scripting language (eg JavaScript), scheduled and planned.
11. 
    
12. Proof of work PoW (Proof-of-capacity) + ability to prove PoC (Proof-of-Capacity). Coins are issued in advance by a certain amount.

Bitcoin - payment system and currency units. Tasks can only be passed from one user to another. Slow blockchain similar point: public block chain / ledger, internal encryption currency differences CREDITS: Fast block chain / ledger, available intelligence contracts, financial wizards, support different currencies.
Ethereum - Emphasizes the creation of smart contracts and records them in the block chain. All the other through the use of third-party services to solve. For all industries. Slow blockchain  similar point: intelligent contracts, internal encryption currency differences CREDITS: Another quick block chain / ledger, different computing systems to support the currency, internal use, focusing on the financial sector.
Ripple - only for billing systems and currency exchange. Developers and companies close similarities: Fast block chain / ledger, billing systems of different currencies, specializes in the financial differences CREDITS: available intelligence contract, an open developer platform, any company can be connected to the platformNew generation blockchain.

CREDITS: available intelligence contract, an open developer platform, any company can be connected to the platform.This is super-fast and will in turn offer a new technical solution and a new conceptual model of networking participant interaction for the development of modern decentralized financial services.

LISTING OUT ITS FEATURES

The system is a distributed database with the principle of a block chain / ledger — the decentralized management and transaction of digital assets, the invariance of records. The following are the features and also contains benefits.

- Distributed, decentralized storage and open source.

- Support public and private networks.

- By dealing with consensus transactions, each entry is entered into a database of blocks / ledgers that do not have Merkle trees and side chains.

- The use of object — oriented principles based on the C / C ++ language — the ability to build other compilers.

- Permissions are set at the transaction level.

- The system is extensible (as the number of nodes increases, the number of transactions processed per unit time increases).

- The transaction is added to the block to reach a consensus later.

- Consensus model: The joint mechanism makes most nodes the right to make a decision.

- Virtual machines (VMs) are used to perform smart contracts. Each contract is executed in a separate, isolated environment to improve the security of the VM, allowing development in a scripting language (eg JavaScript), scheduled and planned.

- Proof of work PoW (Proof-of-capacity) + ability to prove PoC (Proof-of-Capacity). Coins are issued in advance by a certain amount.

STILL WONDERING WHAT CREDIT HAS TO OFFER?

In case you’re still wondering what credit has to offer, i'll simplify from the afforementioned. Asides the listed features, CREDITS platform offers a solution to low speeds and high transaction costs. It expands the the potential blockchain technology has for the financial industry and the Internet of Things.

- Blockchain-: Distributed, decentralized storage and open source code. Support for public and private networks.

- Transactions-: Each record is entered into the blockchain of the block-less database without Merkle trees and sidechains by processing consensual transactions.

- Formation of blocks-: Permissions are set at transaction level. Transactions are added to the block for the subsequent finding of a consensus by the algorithm for finding the solution of finite state machine.

- Consensus model: Consensus model: federal with a mechanism for resolving most nodes with permission to make a decision.

- Smart contracts: Each smart contract is performed in a separate isolated virtual machine environment, allowing development in script languages ​​(JavaScript), extended work with the scheduled calendar.

- System:- The system is scalable (as the number of nodes increases, the number of transactions processed per unit of time increases). There is an absence of mining so all coins are issued in advance in a certain amount.

Abstract

A full point-to-point layout is used for a service delivery system that allows financial services to be formed directly between participants: money transfer, currency and value exchange, credit, funds and other services. According to the principle of equality of system participants, all services do not require additional intermediaries. As a result, everyone will get cheaper, faster and better service.

The world is developing directly towards the direct interaction between people based on the principle of point-to-point equality. A revolution took place! From the overthrow of the mass media can clearly see: until the 20th century, 90 years, newspapers, magazines and television are the main providers of information. Today, opinion leaders are blogs that exist on YouTube channels and social networks, where money is invested in public and ICO, and information is stored in a centralized cloud system.

The financial industry is perhaps one of the few lagging industries, resisting the direct interaction between the introduction of the center and the participants. While technically, creating decentralized financial services is much easier than creating unmanned vehicles.

The corresponding technical environment is needed to establish decentralized financial products and service systems based on distributed ledgers:

1. High execution speed (in seconds), and the ability to deal with large volumes of transactions (hundreds of thousands of seconds) at low cost (for micro-payments and non-cash transactions).
2. 
   
3. Establish a system that combines all the participants and the nature of the financial centering services required: user personalization, KYC, credit bureau, legal currency clearing center, withdrawal and exchange of encrypted currency.

ABOUT TOKEN SALE AND DISTRIBUTION

PreICO will start on October 25

We are offering our participants a total allocation of 2% from our overall token supply.

The total number of tokens in circulation may vary, depending on the actual amount raised during Token Sale;

Soft cap for the 1st round of ICO is 80 000 ETH,
Hard cap for the 1st round of ICO is 120 000 ETH, 

But in any case 2% of tokens will still be designated to the bounty campaign
 1 600–2400 ETH
 1 ETH = 2 000 CREDITS (CS)

Official Information :

              

Website: http://credits.com
Whitepaper: https://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf
Twitter: https://twitter.com/CreditsCom
Facebook: https: //www.facebook .com / creditscom /
Telegram: https://t.me/creditscom

ANN Thread : https://bitcointalk.org/index.php?topic=2190887

Created by TahuDiniHari

https://bitcointalk.org/index.php?action=profile;u=1073216