Bitcred - An anonymous digital credential system using bitcoin

[Bitcred.co]

https://testnet.bitcred.co/images/logo2.png
bitcred.co - Mainnet version
testnet.bitcred.co - Testnet version

An anonymous digital credential system using bitcoin

What does that mean?

It's a protocol built using nothing more than the addresses and transactions of bitcoin, enabling the creation of tokens (Bitcreds) that can be passed around from wallet to wallet. The creator/issuer of the tokens can verify at any time that a user holds one of their tokens in his or her wallet.

What is that good for?

• A token can be tied to an account at the issuer's website, requiring the presentation of the token to login to it.
• A token can be a claim on an underlying asset held by the issuer, like a promissory note.

How can I get started?

The API only has two operations:- Create (Bind) and Verify (Challenge). It's easy to get an API key - simply register for a free account on our website and get a Bitcred in return to login to your account with. The API is free to use at the moment as it is in beta, but there are no known bugs.

Who can I contact for more info?

hello@bitcred.co or post a reply to this forum thread.

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[merelcoin]

An anonymous digital credential system using bitcoin

What does that mean?

It's a protocol built using nothing more than the addresses and transactions of bitcoin, enabling the creation of tokens (Bitcreds) that can be passed around from wallet to wallet. The creator/issuer of the tokens can verify at any time that a user holds one of their tokens in his or her wallet.

What is that good for?

• A token can be tied to an account at the issuer's website, requiring the presentation of the token to login to it.
• A token can be a claim on an underlying asset held by the issuer, like a promissory note.

How can I get started?

The API only has two operations:- Create (Bind) and Verify (Challenge). It's easy to get an API key - simply register for a free account on our website and get a Bitcred in return to login to your account with. The API is free to use at the moment as it is in beta, but there are no known bugs.

Who can I contact for more info?

hello@bitcred.co or post a reply to this forum thread.

Very interesting... Won't this service be slow? I mean, you're scanning the blockchain, looking for an output of the exact amount of satoshi's. Meaning that it'll take 1 confirmation in order to root somebody? So it can take several minutes to do so, am i right?

Other than that, this looks like a great application of blockchain technology

[Bitcred.co]

Very interesting... Won't this service be slow? I mean, you're scanning the blockchain, looking for an output of the exact amount of satoshi's. Meaning that it'll take 1 confirmation in order to root somebody? So it can take several minutes to do so, am i right?

It finds the transaction by scanning the incoming transaction feed on the full node, filtering out interesting ones if they pay the correct amount of satoshis. As soon as a Bitcred is found it logs the user in without waiting for the transaction to be included in the blockchain.

[merelcoin]

Very interesting... Won't this service be slow? I mean, you're scanning the blockchain, looking for an output of the exact amount of satoshi's. Meaning that it'll take 1 confirmation in order to root somebody? So it can take several minutes to do so, am i right?

It finds the transaction by scanning the incoming transaction feed on the full node, filtering out interesting ones if they pay the correct amount of satoshis. As soon as a Bitcred is found it logs the user in without waiting for the transaction to be included.

So, basically, it would be cheaper to send a transaction with 0 fee to a node that still accepts these... The transaction probably won't be included in a block, but that doesn't matter?

[Bitcred.co]

Very interesting... Won't this service be slow? I mean, you're scanning the blockchain, looking for an output of the exact amount of satoshi's. Meaning that it'll take 1 confirmation in order to root somebody? So it can take several minutes to do so, am i right?

It finds the transaction by scanning the incoming transaction feed on the full node, filtering out interesting ones if they pay the correct amount of satoshis. As soon as a Bitcred is found it logs the user in without waiting for the transaction to be included.

So, basically, it would be cheaper to send a transaction with 0 fee to a node that still accepts these... The transaction probably won't be included in a block, but that doesn't matter?

The transaction needs to exceed the network's min relay fee, otherwise it won't reach the Bitcred nodes. And yes it doesn't have to be in a block for it to verify successfully.