By the tenth year of the existence of the bitcoin, many had begun to take stock, stressing the enormous scale of the industry and the importance of block chaining on a global scale. Much has been said about the increase in the value, miner incomes and democracy of the principles of the Distributed registry. Although you can argue with the last thesis. A decentralized and unmanaged block chain environment should become available. In fact, the mining process and the cryptocurrency gaining of private players in the market are actively being pushed out. It seems that the process of globalization and the concentration of individual threads in certain hands inevitable. CREDITS platform creators claim that there is a way to solve the problem.
Complete decentralization and availability of blockchain technologies is a myth?
The first miners of bitcoin could obtain cryptocurrency on home PCs and video cards. But this time sank into oblivion: bitcoin is mined only by ASIC (application-Specific integrated circuit, “Integrated Special Purpose scheme”) the cost of spare parts for Altkoin Farms has grown to a total. And even if those who can afford it consider themselves significant members of the network, – thinking it is a fallacy. The price of a bit, as well as its overall fate, was in the hands of the management of the corporations issuing the equipment and the consortia that lobby some “road maps” that optimize block chains. The greatest danger is that the rate of bitcoining is almost zero if it is beneficial to anyone. The bitcoin is not worth anything — it is the final product and it costs as much as one is prepared to pay for it.
Ethereum is in a more advantageous position: Ether – both cryptocurrency and blockchain – is the foundation for the stand-alone project add-in and the tender for calculating the services of the platform that is in demand. This ensures that the cost of a limited quantity of Altkoin will only grow: price, unlike of a poor bit, will be provided by a real demand in the development programmers’ environment. But if we consider ether as a way of earning money, it can be said that “light money” will no longer be available, but the project is regarded on the second line of general capitalization:
- recalculated complexity requires an investment in the equipment;
- a seed capital is needed to buy “on growth”;
- large pieces of the project are already divided between those who came at the start.
Real incomes will ensure only early participation, such as cooperation from the company entering ICO. One of the promising projects that are in this phase of testing and preparation for the release is the innovative and nearly-sought CREDITS blockchain startup.
Aims and purposes of the CREDITS block chain project
The most important thing that the platform developers guarantee is real demand and service, and its internal currency (CS). The project should ensure that microfinance operations can be pursued through the block chain environment: daily bank charges, transfers and credits. Smart contract principle, already worked on the Ethereum ecosystem, but with much better performance and user tools, will make these processes instantaneous, unchangeable, and cheap. Thanks to the CREDITS project a scheme in which money comes first to bank accounts and then to the final supplier of the goods or services that allows third-party interventions and transfers to the party, must be in the past. Bank weekends and the “temporarily unavailable” servers will be forgotten. Blockchain and smart contracts will allow you to immediately prescribe the terms of the transaction, the signals from other sites will confirm its purity, and in seconds, the recipient receives the money. Information about such an operation will be entered into the block forever: no hackers or failures can cause it to be destroyed or distorted. The use of such a scheme by ordinary users is difficult to overestimate: this is a feature that is required on a daily basis.
Features of the innovation platform and prospects for cooperation
The technical features of the platform shown on the official site prove that such sound statements are justified. After learning from the experience of existing projects and having implemented unique solutions, the team created a new and unique block chain product. Its principal features are:
- Automatic scalability of the network with the speed of processing to the number of participating nodes;
- Unprecedented throughput of up to 1 million transactions per second and a block interval of 3 seconds;
- Combined encryption method that combines the speed of the private key and the security of open-source operations;
- Flexible configuration with the ability to set an author software in a popular Java user language.
- Isolated zone for implementing smart contacts and running at a speed of up to 100 000 transactions per second.
The team took care of the purses to work with the parallel asset – CREDITS altcoins: there will be minimum software to download and the program will be as simple and functional as possible. The foundation for atomic transactions has been laid out in advance.
Such indicators have already provided good feedback to the project, although a full release and registration of the first users have been made only for the summer of 2018. Those who consider investment in perspective and are ready to stand at the source can already test the pilot version on the https://credits.com/ official site and apply for pre-ICO.