HomeSponsoredCreditbit Token Deployed; First Round of Migration Draws to Conclusion

Creditbit Token Deployed; First Round of Migration Draws to Conclusion


In a series of posts on Bitcoin Talk, Creditbit dev team updated the community about CRB Tokens being out as the first round of Migration slowly concludes.

Creditbit , the open source software project released under the MIT/X11, is underway migration of old CRBIT coins to CRB Tokens. The first round of Migration was initiated on March 8, 2017. The first round not only ensures exchange of old CRBIT coins to CRB Tokens, but also gives voting rights to the coin holders.

The post informing the successful deployment of the Smart Contract also gave the watching address for Tokens and a quick guide for Mist users.

Watching address for Token:


Quick guide for Mist users:
1. Have your Mist synchronized
2. Insert this address in Contract -> Watch Token

Extensive step-by-step guide will be published on the website.

In another post, the dev team listed the updated steps for the first round of migration. The post had two sections- Executed steps and Future Steps.

Executed Steps listed everything from first step in migration to releasing of watching address for Tokens, which has been executed till now. Future Steps included the following:

6. We (Dev team) will release ABIs for all Smart Contracts
7. If everything goes well, we will unlock the tokens, so you will be able to transfer them to Exchanges and other Ethereum addresses.

The dev team also took the opportunity to answer the user questions like, “why exchanges don’t do migration themselves automatically?”

The dev team responded to this by explaining how only one single Curator address has the right to migrate (create) new CRB Tokens from migration – this is determined in a migration Smart Contract. If they were to give this right also to Exchanges, they would be able to exploit this right and create more CRB Tokens then the amount of CRBIT coins collected.

Among the positive affirmation of successful migration of coins by the users, Creditbit raked in more god news as the translated version of Creditbit whitepaper is now available for the Chinese market.


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