CredaCash - completely private transactions in 5 seconds

[DaniellPlasmmer]

So you don't think that verification of your own claims as to the provenance of the sole named member of your dev team are relevant to the credibility of the currency?

The technology speaks for itself, end of story.

How much total supply of CredaCash ? 

Currently none. We plan to eventually have a fixed supply of 2 billion units.

a long time for waiting more information
developer not ready with this project

The project is currently in beta and targeted for release by the end of the year.  There is a Windows binary, extensive technical documentation and a FAQ on our website, and source code on GitHub.  I'm not sure what other information you're waiting for that we could provide at this time.

Can you answer? Do you need translations?

I don't understand why not replies.

[electronicash]

2 billion is really a lot. its a lot better if you just have 21 million as well. the lesser the max supply the better its value.

How much total supply of CredaCash ? 

Currently none. We plan to eventually have a fixed supply of 2 billion units.

a long time for waiting more information
developer not ready with this project

The project is currently in beta and targeted for release by the end of the year.  There is a Windows binary, extensive technical documentation and a FAQ on our website, and source code on GitHub.  I'm not sure what other information you're waiting for that we could provide at this time.

Can you answer? Do you need translations?

probably not. if you will do translation you can do it though for free. i don't think he will do ICO for this coin.

[DaniellPlasmmer]

2 billion is really a lot. its a lot better if you just have 21 million as well. the lesser the max supply the better its value.

How much total supply of CredaCash ? 

Currently none. We plan to eventually have a fixed supply of 2 billion units.

a long time for waiting more information
developer not ready with this project

The project is currently in beta and targeted for release by the end of the year.  There is a Windows binary, extensive technical documentation and a FAQ on our website, and source code on GitHub.  I'm not sure what other information you're waiting for that we could provide at this time.

Can you answer? Do you need translations?

probably not. if you will do translation you can do it though for free. i don't think he will do ICO for this coin.

ICO isn't same thing of bounties.

[tmfp]

So you don't think that verification of your own claims as to the provenance of the sole named member of your dev team are relevant to the credibility of the currency?

The technology speaks for itself, end of story.

You think?
 

[CredaCash]

Do you need translations?

Thank you for the offer.  We don't need any translations at the moment--I think January at the earliest we would start to consider this.

[luckylucky]

no detail complete information about supply and algo

[Golftech]

better to start also some social campaign just to promote your project its also a good venue to informed every investors about your plan.
good luck dev and hope to see more updates coming from your project looking for your success.

[CredaCash]

no detail complete information about supply and algo

There will be a limited opportunity for "mining", which we'll announce when we get to that point.  We're planning to follow more of the Ethereum model though, so the bulk of the supply will go to a Foundation.  The Foundation's plan for it's allocation will also be announced in the future.

[CredaCash]

better to start also some social campaign just to promote your project its also a good venue to informed every investors about your plan.
good luck dev and hope to see more updates coming from your project looking for your success.

Thank you much--it is appreciated.  We'll keep you updated.

[topesis]

I have issue with the transactions period, 5 seconds seems to fast for me, I read somewhere that there is  positive correlation between security and transaction time, so 5 seconds seems to expose the coin to attack, correct me if I am wrong

[CredaCash]

I have issue with the transactions period, 5 seconds seems to fast for me, I read somewhere that there is  positive correlation between security and transaction time, so 5 seconds seems to expose the coin to attack, correct me if I am wrong

That is true for a proof-of-work blockchain. It is not true for other types of blockchains such as proof-of-stake and permissioned witnesses.

A proof-of-work blockchain depends on computations for security, and as time passes, more computations can be performed, so the security margin increases. It is not the blockrate that matters though, it is the amount of time the recipient waits before accepting a transaction, and that is determined by the recipient herself, not the blockchain.  So for example, bitcoin has a proof-of-work blockchain and it is generally recommended that a recipient wait at least an hour (6 confirmation) before accepting an important payment, and for really important payments, the recipient should wait 24 hours.  If the bitcoin target block rate were doubled or cut in half, you would still need to wait the same amount of time, 1 hour or 24 hours etc., to achieve the same security margin.  So even with proof-of-work blockchains, ignore the blockrate and focus on the wait needed for all miners to perform N hash computations, which doesn't depend on the blockrate.  Note however that security is never guaranteed with a proof-of-work blockchain; it is only probabilistic and subject to certain assumptions such as the inability of an attacker to co-opt a significant portion of the hash power (sometimes assumed to be less than 10%, sometimes less than 50%, or sometimes something in between, depending on the analysis and assumptions).  Proof-of-work currencies with low hash power, or that have hash power concentrated into mining pools that could potentially be compromised or co-opted, will be less secure and will require a longer wait time than a proof-of-work currency that has a high hash rate running outside mining pools and distributed among many participants.

We're not convinced any new currency that uses proof-of-work can be secure, since the hash power will be relatively low.  This has been demonstrated recently in some new proof-of-work currencies that have been successfully attacked.

CredaCash does not use proof-of-work.  For speed and security, CredaCash currently uses permissioned witnesses and will migrate to unpermissioned proof-of-stake.  In addition however, and most significantly, CredaCash introduces the concept of cleared or final transactions.  After a majority of the witnesses have signed off on a block twice, that block is considered permanent or as we call it in our documentation, "indelible".  A transaction in an indelible block is guaranteed by the protocol to be permanent, and the software reports these transactions as cleared.  That takes roughly 5 to 10 seconds, and once a transaction has cleared, it is permanent.  If the witnesses, whether permissioned or proof-of-stake, attempted to replace or revert an indelible block or a cleared transaction, that would be rejected by all of the other nodes in the system.  The security of CredaCash then comes from all of the nodes in the system working to reject transactions and blocks that violate the protocol.

Bitcoin and other proof-of-work currencies do not have a similar technology--in those currencies, a block is never final or permanent, and is subject to being replaced at any time if some miner can produce a higher cumulative proof-of-work.  That is where the recommendation to wait 1 to 24 hours comes from, and even then, there is no guarantee.

[cewekimut]

It`s funny that this coin is promoted only by newbie accounts. I have a Sr. member account for sale. Buy it and promote CredaCash 

i think its no problem
many coin dev use newbie account for promoted our coins

[grifinmch]

I have issue with the transactions period, 5 seconds seems to fast for me, I read somewhere that there is  positive correlation between security and transaction time, so 5 seconds seems to expose the coin to attack, correct me if I am wrong

That is true for a proof-of-work blockchain. It is not true for other types of blockchains such as proof-of-stake and permissioned witnesses.

A proof-of-work blockchain depends on computations for security, and as time passes, more computations can be performed, so the security margin increases. It is not the blockrate that matters though, it is the amount of time the recipient waits before accepting a transaction, and that is determined by the recipient herself, not the blockchain.  So for example, bitcoin has a proof-of-work blockchain and it is generally recommended that a recipient wait at least an hour (6 confirmation) before accepting an important payment, and for really important payments, the recipient should wait 24 hours.  If the bitcoin target block rate were doubled or cut in half, you would still need to wait the same amount of time, 1 hour or 24 hours etc., to achieve the same security margin.  So even with proof-of-work blockchains, ignore the blockrate and focus on the wait needed for all miners to perform N hash computations, which doesn't depend on the blockrate.  Note however that security is never guaranteed with a proof-of-work blockchain; it is only probabilistic and subject to certain assumptions such as the inability of an attacker to co-opt a significant portion of the hash power (sometimes assumed to be less than 10%, sometimes less than 50%, or sometimes something in between, depending on the analysis and assumptions).  Proof-of-work currencies with low hash power, or that have hash power concentrated into mining pools that could potentially be compromised or co-opted, will be less secure and will require a longer wait time than a proof-of-work currency that has a high hash rate running outside mining pools and distributed among many participants.

We're not convinced any new currency that uses proof-of-work can be secure, since the hash power will be relatively low.  This has been demonstrated recently in some new proof-of-work currencies that have been successfully attacked.

CredaCash does not use proof-of-work.  For speed and security, CredaCash currently uses permissioned witnesses and will migrate to unpermissioned proof-of-stake.  In addition however, and most significantly, CredaCash introduces the concept of cleared or final transactions.  After a majority of the witnesses have signed off on a block twice, that block is considered permanent or as we call it in our documentation, "indelible".  A transaction in an indelible block is guaranteed by the protocol to be permanent, and the software reports these transactions as cleared.  That takes roughly 5 to 10 seconds, and once a transaction has cleared, it is permanent.  If the witnesses, whether permissioned or proof-of-stake, attempted to replace or revert an indelible block or a cleared transaction, that would be rejected by all of the other nodes in the system.  The security of CredaCash then comes from all of the nodes in the system working to reject transactions and blocks that violate the protocol.

Bitcoin and other proof-of-work currencies do not have a similar technology--in those currencies, a block is never final or permanent, and is subject to being replaced at any time if some miner can produce a higher cumulative proof-of-work.  That is where the recommendation to wait 1 to 24 hours comes from, and even then, there is no guarantee.

how many total coin supply sir??? Algo, bounty etc
thank you

[cheapcoin]

Project Lead – Allen Pulsifer, BA Dartmouth College; MS Columbia University; many years experience developing complex backend and embedded software systems.

Wow, impressive introduction, you are a good student, master of Columbia U,   

Watching your project, will you have ico? Such a good project should start with an ico.

[CredaCash]

how many total coin supply sir??? Algo, bounty etc
thank you

Watching your project, will you have ico? Such a good project should start with an ico.

Thanks.  We're tentatively planning on 20 billion units, but we might increase that.  We would prefer to have more supply to keep the per coin value down so people don't have to work in units of milli or micro coins.

We plan to use something similar to the Ethereum model, where the bulk of the currency will go to a non-profit Foundation and be distributed through a public currency exchange.  We are also planning to have a limited opportunity for mining where people who help mint the currency will be rewarded with some portion.  Details will be announced shortly, after our next beta release.  If you want to make sure you don't miss it, you can subscribe to our newsletter at CredaCash.com

Thanks much for the interest!

[mbah]

20 Billions???

Any bounty for SUBSCRIBE TO Credacash NEWSLETTER sir???

[tmfp]

2 billion or 20 billion?

Why not make it 200 billion, you'll be even bigger than Onecoin then 

I'm still fascinated by your sole named developer

Allen Pulsifer, BA Dartmouth College; MS Columbia University; many years experience developing complex backend and embedded software systems.

This is him



Sorry about the black and white photo, Professor Pulsifer is so old that he's pre color...

Obviously a highly intelligent man to get a BA in Chemical Engineering and teach Mechanical Engineering at Uni, way back in 1970, so I guess he would have been about 40 then, that's pretty young for a teaching professor in university in those days.

The thing I find truly remarkable about Dr. Pulsifer is that now, at the age of 85ish he's developing highly complex software systems in a complete change of career directions.
Truly remarkable, indeed one might also use the word "unbelievable".

[tmfp]

2 billion or 20 billion?

Why not make it 200 billion, you'll be even bigger than Onecoin then 

I'm still fascinated by your sole named developer

Allen Pulsifer, BA Dartmouth College; MS Columbia University; many years experience developing complex backend and embedded software systems.

This is him



Sorry about the black and white photo, Professor Pulsifer is so old that he's pre color...

Obviously a highly intelligent man to get a BA in Chemical Engineering and teach Mechanical Engineering at Uni, way back in 1970, so I guess he would have been about 40 then, that's pretty young for a teaching professor in university in those days.

The thing I find truly remarkable about Dr. Pulsifer is that now, at the age of 85ish he's developing highly complex software systems in a complete change of career directions.
Truly remarkable, indeed one might also use the word "unbelievable".

Lol
Crecacash false? 

They refuse to talk about him, despite bringing his name up in the first place.

So you don't think that verification of your own claims as to the provenance of the sole named member of your dev team are relevant to the credibility of the currency?

The technology speaks for itself, end of story.

Maybe it's his grandson or something, went to the same college as grandad..............................or something.

[Mihawk]

Scam? Disappeared? No more information

[imjustsayintho]

Scam? 

Scam?  Hasn't even been officially released yet.