CREDITS A NEW GENERATION OF BLOCKCHAIN REVIEW
ICOs has come and gone. But there are some Unique initial coin offering that catch’s my attention. On of such is CREDITS. CREDITS is a platform that promise to offers new and unique technical implementation of Blockchain technology, smart contracts, data protocol and has its own internal cryptocurrency.
With the CREDIT platform speed, total number of operations per second are increased compared to other cryptocurrency while cost of transactions and are minimally reduced. What makes this unique also is the fact that It is an open platform which means that users and companies can create online services that implement the blockchain protocol.
- A new product for users.
- A well designed new features, Credit achieved tis great feet by creating new algorithm to search for a consensus; a new scheme registry; an algorithm for processing and maintaining transaction – based solutions for finite state machines based on the model of Federal voting nodes.
UNIQUE FEATURES OF CREDIT PLATFORM IN SUMMARY:
The 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.
WHY SHOULD I BUY CREDIT TOKENS?
- 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.
- 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.
Consensus mFA Consensus
|FA : Key Design
|mFA : Key Design Implementation,
PoW + PoC
|Data Store||Decentralization Ledger,
NoSQL Store implementation
|MessagePack History||Blockchain backup||–|
|CVM (Credits virtual machine)||Design and
|Third-party system||–||Design and Implementation||Integrate to full system||–||Optimisation|
|Inference Engine||Formal Specification and Key Design Elements||Reasoner Integration with Blockchain||Reasoner Optimization||–||–|
|User interface||Implementation||Web UX design||–||–||–|
|Wallet||Wallet Formal specification||UX design Application Test||Android, iOS, Desktop Wallets|
|RPC & REST API||Formal specification||Blockchain Explorer||–||Third-party explorer|
|Blockchain & Smart Contracts|
|Transaction Speed||1 000 000 transactions per second (up to)||10 transactions per second||500 transactions per second (up to)|
|Block Interval||3 seconds (average)||10 minutes||15 seconds|
|Block Size||Dynamic||1 Mb||Dynamic|
|Consensus Algorithm||Modified FA (Federated Agreement + PoW + PoC)||Proof of Work||Proof of Work|
|Flexible configured blockchain||Yes||No||No|
|Turing-complete code for developing smart contracts||JS equal language||Non-systematic||Solidity, Serpent,etc|
|Decision Making Process||Democratic Congress (One node=One vote)||Non-systematic||Non-systematic|
|Speed of executing contracts||100 000 transactions per second (up to)||Non-systematic||100 transactions per second (up to)|
|User technical features|
|Crypto algorithm||Symmetric-key algorithm + Asymmetric-key algorithm||Asymmetric-key algorithm||Asymmetric-key algorithm|
|Using third-party systems||Yes||No||No|
|Allowed to create own application||Yes||No (very hard)||Yes|