I Might be slightly biased, but Credits uses something called a
proof of deposit system, which I have never seen in crypto before. It essentially spits the role of the miner, between the miner and a new type of contributor called
"the depositor". To mine a block, you must deposit the required deposit (currently, it's less than the total block reward, meaning you don't need to prepare any deposit. The wallet will subtract the deposit automatically if you find a block).
At around block 33,000 ,
the required deposit will be greater than the block reward. This means that you have to provide the upfront CRE deposit (deposits are
RETURNED to you after 15,000 blocks) or else your specific mining rig faces a difficulty adjustment based on how much of the deposit is missing.
As you can imagine, there will be a need for people that
HAVE CRE. There is features inside the Credits-qt wallet that allow a user to provide another user with deposit funds, with the creditor being paid from the block reward instantly.
For more info, check out our ANN thread or website:
Official website:
http://www.creditsclient.com/ANN thread:
https://bitcointalk.org/index.php?topic=1037244.0BTW, This coin is only 1.4 months old.
