Creditbit’s much anticipated Migration to Ether tokens has started. The Creditbit holders can easily take part in the migration by registering one or several migration accounts on the Creditbit platform, through which the migration process will be executed. This first round of Migration was initiated on March 8, 2017.
Migration has been an important aspect to further development under Creditbit’s second development roadmap. Credit 2.0, also named “credit2”, is the name of the second CreditBit development roadmap and also parent project of CreditBit Development Team. The Project started on January 1st, 2017 with introducing new Development team.
The main goal of Credit 2.0 is to develop and maintain crypto currency ecosystem, based on token that is built on top of Ethereum Blockchain. This basically implies that the entire process of Migration to Ether tokens is essential in terms of advancement and development of the project. The project also consists of several subsidiary projects including CreditMC or CreditGAME.
As has been reiterated by the Creditbit development team on numerous occasions, Migration is important to Creditbit in order to evolve the Crypto Platform that supports CreditBit coin. Migration to Ether token will enable usage of Smart Contracts, DAO, innovative distribution systems and DAPPs.
According to Creditbit Development team, Ethereum blockchain is the perfect apparent choice in their quest to eliminate value blindness and Blockchain blindness to make it possible to implement advanced and complex smart contracts.
Etherum Blockchain not only opens up new avenues for the implementation of smart contrcts but also offers its own programming language which makes way for innovative currency issuance and distribution mechanism. Ethereum blockchain also speeds up the process of transaction confirmations.
The Creditbits deposited to migration account will be permanently locked and the users will receive the equivalent new Ethereum CreditBit tokens which will be minted on central migration account, and directly transferred to their Ethereum accounts.
Moreover, even if you miss the first round of Migration, you will still be able to exchange your CreditBit coins to new Ethereum tokens in several migration rounds. The only thing you’ll miss out on is the opportunity to vote at initial voting.