[ANN][ICO]CREDITS - New Blockchain for financial industry [HARDCAP REACHED!]

Official CREDITS ANN thread

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• Chinese Simplified : (ANN, Whitepaper)
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Product

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Alpha version of the CREDITS platform is available to all users
Look. Learn. Test. Our team is already preparing a Beta version for you.

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Presentation / ICO details

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ICO caps
Soft cap $15 mln USD
Hard $20 mln USD
Min cap $1.5 mln USD
1 ETH = 5 000 CREDITS (CS)

[Download]

PreICO dates: 10th Nov 2017 - 31th Dec 2017

ICO dates: 17th Feb 2018 - 28th Feb 2018

Round 1 - Feb 17, one day for collecting funds from strategic partners. Total amount approx. 10%

Round 2 - Feb 18-20, two days for collecting funds from all wallets registered and approved in whitelist.
Individual cap for round 2 will be determined after closing the whitelist. Round 3 will take place if hard cap isn’t collected in Round 2.

Round 3 - Feb 20, the start of public ICO with individual cap about 1eth.

CONGRATULATIONS DEAR COMMUNITY! CREDITS ICO REACHED HARD CAP

Where is CREDITS (CS) currently listed

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Market Capitalization
By coinmarketcap.com

PROBLEM

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Creation and performance of financial products on the basis of blockchains and smart contracts with quick transactions

GOAL

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The creation of a decentralized sector of financial services on the basis of the participant(s), bypassing specialized financial institutions such as banks and intermediaries

WHY CAN'T THIS BE DONE NOW?

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Popular platforms like Ethereum are not ready for financial transactions due to a slow rate of 0.5-15 minutes and a price of about 0.02-0.5 dollars per transaction. This is unacceptable for the financial industry.

CREDITS - creates a new platform for the operation of financial products on a unique scheme of building a blockchain/ledger with smart contracts, which achieves:

• A speed of processing transactions up to 1 million transactions per second
• An average processing time of 3 seconds per transaction
• Very inexpensive processing cost

BITCOIN / ETHEREUM
• Approximately 100 operations per second
• Average processing time of 0.5-15 min
• Cost up to 0.02-0.5 dollars per transaction

CREDITS aims to achieve a performance of 1 million transactions per second, an average processing time of 3 seconds and a mean peak value of 10 seconds.

The system is a distributed database with the principles of a blockchain/ledger - decentralized management and transfer of digital assets, invariability of records.

1. Distributed, decentralized storage and open source.
2. Support for public and private networks
3. Each entry is entered into the database of the blockchain/ledger without Merkle trees and sidechains by the processing of consensual transactions.
4. Coded in C/C++ with OOP principals - has the ability to build other compilers
5. Permissions set at the transaction level
6. The system is scalable (as the number of nodes increases, the number of transactions
processed per unit of time increases)
7. Transactions are added to the block for later consensus
8. Consensus model: federal with a mechanism for resolving most nodes with the permission to make a decision.
9. Virtual machine (VM) is used for executing smart contracts. Each contract executes in a separate isolated environment for increased security in VM, development is allowed in script languages (for example, JavaScript), extended work with the calendar and scheduler
10. PoW (Proof-of-work) + PoC (Proof-of-Capacity). Coins are issued in advance for a certain amount.

Bitcoin - payment system and money unit. The task is only to pass from one user to another. Slow blockchain
Similar: public blockchain/ledger, the internal cryptocurrency
Differences CREDITS: fast blockchain/ledger, the availability of smart contracts, orientation on the financial sector, supports different currencies

Ethereum - emphasis on the creation of smart contracts and recording them in the blockchain. All else is solved through the use of third-party services. Oriented for all industries. Slow blockchain
Similar: smart contracts, internal cryptocurrency
Differences CREDITS: another quick blockchain/ledger, supports different currencies, uses an internal system of calculations, focused on the financial sector

Ripple - only used as a settlement system and currency exchange. Closed for developers and companies
Similar: fast blockchain/ledger, a system settlement for different currencies, focused on the financial sector
Differences CREDITS: the availability of smart contracts, an open developers platform, any company can connect to the platform

What is CREDITS?

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New open platform CREDITS for creation and management of financial services on the basis of the blockchain/ledger

The unique system of building a blockchain allows you to build financial services with high speed transaction processing up to 1 million per second and average speed transaction processing in 3 seconds. CREDITS truly opens up new opportunities to use the blockchain technology in the financial sector.

NEW GENERATION OF BLOCKCHAIN

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SUPER HIGH SPEED

Blockchain with up to 1 000 000
transaction per second

PROCESSING TIME

Average processing time is 3 second
per transaction.

VERY LOW PRICE

Very low cost of transaction.

CREDITS platform offers new and unique technical implementation of blockchain technology, smart contracts, data protocol and has its own internal cryptocurrency.

It is a platform with completely new technical network capabilities, speed, cost of transactions and total number of operations per second. It is an open platform which means that users and companies can create online services that implement the blockchain protocol.

We offer a new product for users. We designed new features 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.

The CREDITS platform offers a solution to low speeds and high transaction costs. It expands the potential which blockchain technology has for the financial industry and the Internet of Things.

.	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 sidechaines by processing consensual transactions.	Forming of blocks Set permissions at the transaction level. Transactions are added to the block for the subsequent finding of a consensus on the algorithm for finding the solution of the finite state machine
.	Consensus model Consensus model: federal with a mechanism for resolving most nodes with permission to make a decision.	Smart contracts Each smart contract is performed in a separate isolated virtual machine environment, allowing development in script languages ??(JavaScript), extended work with the calendar, scheduled	System The system is scalable (as the number of nodes increases, the number of transactions processed per unit of time increases). The lack of PoW protocol (Proof-of-work). Coins are issued in advance in a certain amount

Technical features

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.	Features	CREDITS	Bitcoin	Ethereum
.	Blockchain and Smart Contracts
.	• Transaction Speed	• 1 000 000 transaction per second (up to)	• 10 transaction per second	• 500 transaction 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
.	• Coins	• CREDITS	• Bitcoin	• Ether
.	• Smart contacts	• Yes	• No	• Yes
.	• Blockchain type	• public, private	• public	• public
.	• 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 executing contracts	• 100 000 transaction per second (up to)	• Non-systematic	• 100 transaction per second (up to)
.	• User technical features
.	• Crypto algorithm	• Symmetric-key algoritm +	• Asymmetric-key algoritm	• Asymmetric-key algoritm
.		• Asymmetric-key algoritm
.	• Using third-party systems	• Yes	• No	• No
.	• Allow create own application	• Yes	• No (very hard)	• Yes
.	• API	• Yes	• No	• Yes

Roadmap

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.		S1	S2	S3	S4	S5
.		Pre-Alpha	Alpha	Beta	Release candidate	Release
.	• Storage, Consensus mFA Consensus	• FA : Key Design Implementation	• mFA : Key Design Implementation,PoW + PoC	• mFA Optimization	–	• optimisation
.	• Data Store	• Decentralization Ledger, NoSQL Store implementation	• MessagePack History	• Blockchain backup	–	–
.	• CVM (Credits virtual machine)	• Design and Implementation	• Integration witd ecosystem	• Optimization	• check errors	–
.	• tdird-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 and REST API	• Formal specification	• Blockchain Explorer	–	• third-party explorer	–

CREDITS Use Cases

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.	Financial and Banking Systems Financial institutions will be able to significantly reduce their transaction costs, exclude intermediaries while simulataneously securely protecting their data.	Internet of Things IoT The CREDITS platform and smart contracts will allow for the connection of various IoT devices into a single network and effectively manage them: smart cities, smart homes, smart cars, smart businesses etc.	Crediting Credit robots will be able to issue loans with the most optimal terms, regardless of countries and continents. Globally, with any person in any country through the CREDITS platform.

Project Team

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.	Chugunov Igor CEO & Founder [Linked In] Education: Banking. Experience: 12 years, including IT projects, bank and credit internet services, affiliate marketing company for banks and PDL companies. Experience withblockchain business: 2 years. From 2016 working at the CREDITS platform	Evgeniy Butyaev CTO [Linked In] Education: Engineer (software development). Software development experience: more than 10 years. Experience with blockchain more than 3 years, including European organizations – various solutions based on blockchain for different customers including StateStreet; solutions based on blockchain in Russia. From 2016 - working at the CREDITS platform	Valentin Antonov Team Lead [Linked In] Education: Programmer. Experience: more than 10 years as a programmer and architect building complex and high-loaded systems for the financial and banking sectors. In the blockchain industry for about 2 years. Qualified in platform Ethereum.	Aleksandr Krasnov Senior software developer [Linked In] Big development experience, including blockchain technology experience in a secure team for US company StateStreet. Engineered development solutions for various clients and worked on high loaded systems for orgnisations based in Europe and USA.
.	Matushkina Elena PR manager Experience in PR for over 7 years. Promotes brands and products in media and over the Internet. Participated in development of a strategy of presence in social networks, and continues working to improve the concept. Content creation (text, photo, video), the reason for social networks.	Bruce Sadia Development manager [Linked In] Education: Master’s in Communications and International PR. Working experience over 3 years in IT sphere with foreign people. She is responsible for communicating with foreign partners and organizations.	Evgeny Romanov Community manager [Linked In] Planning and conducting marketing and PR activities of the company's online Community management in social network. In the project responsible for developing programs and support bounty team. Blockchain enthusiast 2014.	David Kolmakhidze Head of investment relations department [Linked In] Six years of experience in investment in cryptocurrency, development, consultant in blockchain projects. Expert in marketing strategy ICO. Great experience in building partnerships with investors and angel investors.

Advisory board

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.	Kyle Wang Senior Consultant IBM Cleveland, USA [Linked In] «The team is exceptional! CREDITS is a novel approach and cryptoeconomic innovation within blockchain»	David Drake Managing Partner at LDJ Capital New York, USA [Linked In] Mr. Drake's investments currently have 50+ global directors that maintain relations with institutions & family offices with $1.5 trillion in assets.	Christian Ferri Entrepreneur, Investor San Francisco, USA [Linked In] Executive with extensive experience in blockchain architecture/DApps/ICOs, strategic planning, investment relations for both large blue chips and nimble start-ups.	Michael Kapilkov Blockchain Advisement New York [Linked In] «I am proud to announce that I have joined 'CREDITS' as an ICO Advisor» Founder Healthi, CoFounder Altcoinz, CoFounder I-virtual.
.	Christophe Ozcan Blockchain technical - Expert France [Linked In] CEO & Co-founder at Crypto4All, Blockchain Ecosystem Advisor at Rockchain, Blockchain commission member at AFNOR Group	Elie Galam Bancor Foundation Financial Advisor New York [Linked In] Chief Investment Officer at Eastmore Group, Advisor to Legolas Exchange and Gimli	Artjom Aminov Blockchain architect at F&L Galaxy, inc London, United Kingdom [Linked In] Developer and architecture of high-availability server-side applications based on blockchain technologies	Tyler Perry-Smith Investor, Enthusiast Savitr Capital San Francisco [Linked In] «CREDITS can be the catalyst that takes blockchain functionality to mainstream business operations!»
.		Jacob Salvador Investor & Trader Blockchain Specialist Oslo, Norway [Linked In] Experienced Investment professional in the venture capital and private equity industry. Skilled in Blockchain technologies	Henrique Centieiro Business Consultant [Linked In] A specialist in cryptocurrencies and blockchain projects, business planning and development, corporate finance