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

[deort]

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

Hah, such a team would probably consist of several thousand specialists) As for me, I found this information on some forum, some “newcomers” discussed this matter. By the way, how is the process of determining the main node in CREDITS carried out?

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

I didn’t expect such a detailed answer, anyway) But thank you very much, now I'm at least aware of the actual state of things on CREDITS.

Hello. It’s a very good detailed answer, thank you! Can you tell us how the node searches for the hash function value?

[Delicieuxz]

Our developers are engaged in testing the modules for CREDITS

Status update on our technical progress. Our developers are engaged in testing the modules.
At the moment, we are testing the module for connecting nodes to a network, which allows creating segmented connections in the network and optimise the resources of the node;
Also, there are a local storage management module at the testing stage, responsible for storing, providing and initialising the initial information on system accounts;
At the stage of local testing there is a module that is responsible for signing the transaction for verification purposes and encryption through a public key;
Moreover, at the testing stage, there is a module responsible for solving the consensus algorithm, which allows to create segmented parts of the network involved in the decision-making processes. At the primary development completion stage there is a module working with JAVA contracts.
From now on we will be keeping you up to date with our technical progress.

[Heruur]

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

The technical documentation have to detailed those kind of explanation. The description of the implemented consensus mecanism is very important to figure out how the protocol works.

You have a promising technology no doubt about your success.

[Delicieuxz]

ICO Introduction of CREDITS on 14th of Dec in Amsterdam



CREDITS is a new generation blockchain. New, because we use advanced techniques that allow 1 million transactions to be processed in less than three seconds. It sweeps the floor with Ethereum and Bitcoin.
But CREDITS still has a lot more to offer, especially financial institutions such as banks, insurance companies and credit companies will benefit greatly.
In the coming months, the CREDITS team will travel the world to bring their innovative protocol to the attention of both professional and private investors. Investors who are looking for new opportunities with high potential will be presented with a presentation that also presents a very attractive incentive scheme.
Our partner Arjan Eikelenbloom will explain fundamental advantages and benefits of CREDITS.
Thursday December 14 is the turn of Amsterdam. You are welcome, access is free. We would like you to sign up.
For more detailed information: https://goo.gl/acvRGF

[Delicieuxz]

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

The technical documentation have to detailed those kind of explanation. The description of the implemented consensus mecanism is very important to figure out how the protocol works.

You have a promising technology no doubt about your success.

Thanks. Join us, and follow the news

[unkletoken]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

[Ackedy]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

Hi! Not exactly. The system is dedicated to uniting all the participants on one platform to create and use financial services. Everyone will be able either to offer or to use a service.

[unkletoken]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

Hi! Not exactly. The system is dedicated to uniting all the participants on one platform to create and use financial services. Everyone will be able either to offer or to use a service.

Hmmm. It seems that the answer is “yes”. What’s the trick of the platform? What differs it from other similar projects?

[Ackedy]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

Hi! Not exactly. The system is dedicated to uniting all the participants on one platform to create and use financial services. Everyone will be able either to offer or to use a service.

Hmmm. It seems that the answer is “yes”. What’s the trick of the platform? What differs it from other similar projects?

It’s different from the others because it’s unique. It’s based on  a clearly defined and balanced technological system, it is able to offer a new technical solution and a new concept of interaction between network participants for the development of modern decentralized financial services.

[Planton]

I don’t like the fact that the company's specialists determine main network node. I just think that the presence of human factor in this process doesn’t guarantee the objectivity of choosing the main node of the network. In my opinion, this process should be automated.

In your opinion, how many people should there be in a team of specialists in order to determine the main node manually? That’s why this process is automated in CREDITS, just as you’d like it to be. Therefore, the choice of the main node of the network is completely objective.

Hah, such a team would probably consist of several thousand specialists) As for me, I found this information on some forum, some “newcomers” discussed this matter. By the way, how is the process of determining the main node in CREDITS carried out?

To become the main network node, the node searches for the value of the hash function that it calculates based on the last stored ledger. The system organizes a healthy competitive environment between the network nodes for the opportunity to become the main node; to generate and store a new ledger. After calculating the function and obtaining the result, it is sent to all network nodes for verification. The result contains a timestamp of the calculation and a value based on the calculation of the function of the ledger files and software. All nodes receive the calculated value, compare the calculation time allocated for the search for the main network server, verify it and confirm the trust factor of the node, and also confirm its opportunity to participate in the competition – to become the main network node. After receiving approval from all network nodes (BFT principals), a list is formed of nodes that correctly calculated the value of the function and contains a timestamp. The node that received the correct result and had it approved in the fastest time, becomes the main network node of the moment.

I didn’t expect such a detailed answer, anyway) But thank you very much, now I'm at least aware of the actual state of things on CREDITS.

Hello. It’s a very good detailed answer, thank you! Can you tell us how the node searches for the hash function value?

you were right, this is a very good answer. with this information will increase knowledge and insight.
Thanks a lot.

[unkletoken]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

Hi! Not exactly. The system is dedicated to uniting all the participants on one platform to create and use financial services. Everyone will be able either to offer or to use a service.

Hmmm. It seems that the answer is “yes”. What’s the trick of the platform? What differs it from other similar projects?

It’s different from the others because it’s unique. It’s based on  a clearly defined and balanced technological system, it is able to offer a new technical solution and a new concept of interaction between network participants for the development of modern decentralized financial services.

Does it mean that, for example, being in UAE I can lend money to a Latin American?))

[Ackedy]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

Hi! Not exactly. The system is dedicated to uniting all the participants on one platform to create and use financial services. Everyone will be able either to offer or to use a service.

Hmmm. It seems that the answer is “yes”. What’s the trick of the platform? What differs it from other similar projects?

It’s different from the others because it’s unique. It’s based on  a clearly defined and balanced technological system, it is able to offer a new technical solution and a new concept of interaction between network participants for the development of modern decentralized financial services.

Does it mean that, for example, being in UAE I can lend money to a Latin American?))

If we simplify it, I mean, put it in really plain words, that’s right. The system will allow to form financial services: money transfers, currency and value exchanges, lending, funding and etc. Everything will be carried out directly between the participants.

[unkletoken]

Hello! I’ve got interested in the project, bit I wonna to learn more about some details. Is the service planned to be an global “exchanger” for the currencies regardless their status or location?

Hi! Not exactly. The system is dedicated to uniting all the participants on one platform to create and use financial services. Everyone will be able either to offer or to use a service.

Hmmm. It seems that the answer is “yes”. What’s the trick of the platform? What differs it from other similar projects?

It’s different from the others because it’s unique. It’s based on  a clearly defined and balanced technological system, it is able to offer a new technical solution and a new concept of interaction between network participants for the development of modern decentralized financial services.

Does it mean that, for example, being in UAE I can lend money to a Latin American?))

If we simplify it, I mean, put it in really plain words, that’s right. The system will allow to form financial services: money transfers, currency and value exchanges, lending, funding and etc. Everything will be carried out directly between the participants.

If it’s really so, it’s a very cool offer! And how will creditworthiness of such “Latin Americans” which I’ve described in ma example be determined?

[ayasemoon789]

2% of the proportion of the reward is too low, the marketing ability to determine how many people involved, the value of technology investment commitment can have much? More bounty distribution is not a bad thing

[yeyicheng2015]

The project aims to create a decentralized financial service sector around the professional financial institutions such as banks and intermediaries, so as to provide solutions for low and high transaction costs. This coin may be good, and it's worth your thinking.

[romgenie]

The project’s plans are impressive! What soft-cap is planned for the ICO?

[MkrKing]

The project’s plans are impressive! What soft-cap is planned for the ICO?

Hello. The soft-cup for the first stage is 80 000 ETH.

[bittcrypt]

Hi everybody! Can anyone tell me more about the ecosystem of the project in plain words? I’m wondering, for example, how the tokens will be used on the platform.

[Gamelander]

The project’s too ambitious. Are developers planning to put their servers all over the world? And the ATMs, too?

[hunterofmoney]

Tell me please what the rate will be during the ICO.