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

[spacegt]

Well, it’s a very large project. However, I suspect that due to the large number of transactions being processed, there may appear some duplicates, and some users will use them for their own benefit. If I were a developer, I would pay special attention to this point.

There’re great specialists in CREDITS team. That's why every detail gets a lot of attention, including the problem that you’ve described. I can assure you that no duplicates will arise, there’re no chances of fraud.

Really? Well, it's great, if it is so. Do you know how the service will struggle against duplicates?

In order to prevent duplication of the transaction in the same block with the same identifier, the system accepts an agreement that the only true and correct transaction is that which came first to the validator subsystem for processing. Since it is already recorded in the validator system that a transaction has already been made from the current account and there are no values left in the account to conduct the transaction, a consensus cannot be found.

I’d also like to say, that when the transaction is executed, information is received to the validator and confirmed, the information about the ledger status change is automatically distributed to all nodes from the trusted list, after which the ledger is synchronized. This also contributes to the fact that duplicate transactions can’t be executed in Credits anyway.

Considering what you said, it turns out, that the system will always need to maintain an up-to-date registry, I mean carry out synchronization after each transaction. Is it possible?

[deort]

Well, it’s a very large project. However, I suspect that due to the large number of transactions being processed, there may appear some duplicates, and some users will use them for their own benefit. If I were a developer, I would pay special attention to this point.

There’re great specialists in CREDITS team. That's why every detail gets a lot of attention, including the problem that you’ve described. I can assure you that no duplicates will arise, there’re no chances of fraud.

Really? Well, it's great, if it is so. Do you know how the service will struggle against duplicates?

In order to prevent duplication of the transaction in the same block with the same identifier, the system accepts an agreement that the only true and correct transaction is that which came first to the validator subsystem for processing. Since it is already recorded in the validator system that a transaction has already been made from the current account and there are no values left in the account to conduct the transaction, a consensus cannot be found.

I’d also like to say, that when the transaction is executed, information is received to the validator and confirmed, the information about the ledger status change is automatically distributed to all nodes from the trusted list, after which the ledger is synchronized. This also contributes to the fact that duplicate transactions can’t be executed in Credits anyway.

Considering what you said, it turns out, that the system will always need to maintain an up-to-date registry, I mean carry out synchronization after each transaction. Is it possible?

Yeah, it is possible! The system will use a separate port for synchronization in order to keep the registry synchronized. By the way, such a solution will increase the speed of processing of input information in the core of the validator due to the distribution of the load within the port.

[dayasinfo]

Hello. Explain, please, for what purpose will every action be linked to the time mark, the number of the previous block, the user's login and the smart contract ID in the system?

[nicolasbit]

Hello friends. Do you know if the company's founders have left a certain number of coins for themselves?

[alcoholbtc]

Hello friends. Do you know if the company's founders have left a certain number of coins for themselves?

Yes, 150 million tokens were allocated to Credits founders. They will be able to use them only in a year after the ICO is over.

[energycrypt]

Hello everyone. In your opinion, after execution of what process within the Credits system will the transaction be added to the register?

[kentuckykid]

Will you provide users with a list of proven third-party sources who will be able to sell us information for the services within the system?

[defender77]

Why don’t you get rid of the algorithm of automatic formation of the transaction price and don’t confine to the option of manual setting of the cost of different types of transactions and operations?

[NakiRR]

Well, it’s a very large project. However, I suspect that due to the large number of transactions being processed, there may appear some duplicates, and some users will use them for their own benefit. If I were a developer, I would pay special attention to this point.

why do you think so?

[NakiRR]

Hello friends. Do you know if the company's founders have left a certain number of coins for themselves?

Escrow for ETH received in ICO
Escrow is a way of blocking funds allocated in ICO by third-party people until the occurrence of certain specific conditions. Independent escrow person block ETH (money raised in ICO) until compliance with the conditions (obligations) can be verified. The team will not be able to spend the ETH raised during the ICO until the obligations for the development of the alpha version and release a full release of the platform are fulfilled.

Some ETH received in ICO will be frozen by four signatories of famous and well known people from the blockchain industry

Escrow 1 - CRYPTO4ALL Paris (Escrow organiser)
Escrow 2
Escrow 3
Escrow 4
50% - (up to a maximum of 10 mln USD) will not be frozen and will be used for the development and promotion of the project
30% - frozen until the release of the Alpha version (requires Escrow board confirmation and approval for release)
20% - frozen until the first full release (requires Escrow board confirmation and approval for release)
ICO dates
Pre-ICO 10th Nov 2017- 31th Dec 2017
ICO 15th Jan 2018 - 15th Feb 2018
ICO caps
Soft cap $15 mln USD
Hard $20 mln USD
Minimum cap 1.5 mln USD (already achieved)
During pre-ICO and ICO, the company plans to sell tokens to raise between 15 and 20 million USD. During the first half of 2018, the company will only have access to 50% of the funds collected, and no more than 7-10 million USD. These funds will be used to finish development and promote the platform. Remaining, unspent funds will be unlocked after the Alpha launch and the full release of the platform.

We believe that the large funds collected in the ICO have a negative pressure on the potential growth of the prices of the token in the future.

ICO
The total number of issued tokens 1 000 000 000. The tokens exchange rate is 1 ETH = 5000 CS (CREDITS)
ICO - 60%
Bounty - 2%
Bug bounty - 2%
Founders - 15%
Advisors - 1%
Operation - 20%
Tokens left for operations.

According to the calculated budget of the project, the company will need 15-20 (soft and hard caps) million dollars for the first year of operation, as well as development and promotion of the platform. Over the next 2 to 5 years, the team will gradually sell the tokens earmarked for operations (20% of total) as needed and in small quantities so as not to provoke a decrease in market price.

The project's ICO model will allow the CREDITS team to quickly finish platform development and promote CREDITS use in the future.

Unused operations tokens will be blocked for at least one year, according to the following schedule:
10% frozen through 1 Jan 2019
10% frozen through 1 Jan 2020
Founders' tokens
After the end of the crowdsale these tokens will be frozen for one year.

Unsold tokens
All tokens not sold by the end of the ICO will be destroyed or burned

ICO Bonus Schedule
1 week 5.0%
2 week 2.5%
3 week 1.5%
4 week 0%
Additional Bonus Based on Amount of Purchase

0% - up to 50 Ether (35,000 USD)
3% - from 100 Ether (70,000 USD)
5% - from 500 Ether (350,000 USD)
7% - from 1,000 Ether (700,000 USD)
10% - from 2,000 Ether (1,400,000 USD)
PRE-ICO Bonus
Pre-ICO - 30%
Additional bonus from the purchase amount:
Total 30%, including 0% - up to 50 Ether (35,000 USD)
Total 50%, including 20% - from 50 Ether (35,000 USD)
Total 55%, including 25% - from 100 Ether (70,000 USD)
Total 60%, including 30% - from 250 Ether (175,000 USD)
Total 65%, including 35% - from 500 Ether (350,000 USD)
Total 70%, including 40% - from 1,000 Ether (700,000 USD)

[U]

Blockchain with up to 1 000 000 transaction per second

KIDDING or SERIOUSLY?

[bit679]

Hi everybody. Does anyone know which user commands will be used in the code of the smart contract’s method?

[Shaurman]

Good day to everybody. I’ve learned that after the ICO is over, the tokens will be exchanged to CREDITS. Does anybody know the exchange rate?

[hunterofmoney]

Good day to everybody. I’ve learned that after the ICO is over, the tokens will be exchanged to CREDITS. Does anybody know the exchange rate?

Greetings. The rate is one to one.

[Name_none]

in due time the etherium collected 18 million $ during the ICO. Credits collected 2 million $ in the pre-stage, will he be able to repeat such a stunning success?

[yweetot]

I have seen your post, there is a question to consult, do you use ETH token as the currency of the CS system? Or you'll have your own tokens, not ETH's tokens

[MkrKing]

What’s up! I’ve read that the platform will use third-party data providers in its operation. Explain the purpose of such actions, please.

[californybit]

What’s up! I’ve read that the platform will use third-party data providers in its operation. Explain the purpose of such actions, please.

It will be necessary to work with third-party data providers in order to make the service operate correctly, in order to make weighted and optimal decisions. These goals are unachievable if you use only your own data.

[romfish]

What’s up! I’ve read that the platform will use third-party data providers in its operation. Explain the purpose of such actions, please.

It will be necessary to work with third-party data providers in order to make the service operate correctly, in order to make weighted and optimal decisions. These goals are unachievable if you use only your own data.

As for me, this will be a certain risk for the stable operation of the service. A fraud will be able to break the communication channels between the platform and data providers and use the info as he wants to.

[specialAU]

What’s up! I’ve read that the platform will use third-party data providers in its operation. Explain the purpose of such actions, please.

It will be necessary to work with third-party data providers in order to make the service operate correctly, in order to make weighted and optimal decisions. These goals are unachievable if you use only your own data.

As for me, this will be a certain risk for the stable operation of the service. A fraud will be able to break the communication channels between the platform and data providers and use the info as he wants to.

No way, bro, it's out of the question, ’cause all info will be transmitted encrypted