[ANN] CREDITS - New Blockchain for financial industry [OFFICIAL THREAD]

[DutchFinity]

Staking and Mining Program. Increasing remuneration for trusted nodes

Credits, 08.10.2020

The Credits team prepared this detailed article to provide an explanation of the mechanism of choice and reward for trusted nodes at this moment and introduction to a new reward program for nodes. 

A proposal for this came from our loyal Credits community and node holders and we would like to hear your thoughts on this.

Continue reading:

[1714181968]

1714181968

[1714181968]

1714181968

[1714181968]

1714181968

[DutchFinity]

Q&A Session with Credits’ CEO Igor Chugunov

Credits, 08.10.2020

Dear Credits Community. Thank you for your questions sent to us via our social media and TG chats. We were overwhelmed with them last week. Please find below the answers from Credits CEO, Igor Chugunov.

Thank you for your engagement!

Continue reading:

[DutchFinity]

Blockchain planned updates 4Q 2020




Credits, 09.10.2020

We have provided below a detailed description of the Mainnet updates planned for 4Q2020.

Your related questions are welcome, please submit via our social media and TG chats.

October 2020

Synchronization: multithreading processing. Finalizing a new synchronization mechanism.

Thrift documentation, smart token Methods. Documentation on the thrift interface for a node, methods for processing smart contracts, and tokens.

Internal testing for obtaining 100k-1M TPS requirements. Internal testing for getting requirements on the way to 100K-1M.

Web wallet update: sending transactions in the background and parallelization. When the transaction is sent out, it goes into the queue to wait there for the node message. The message should confirm the installation in blockchain or its rejection. The main screen is not getting locked after the transaction is out. So you can continue working, including sending new transactions.

November 2020

The Monitor and Node Update. Statistics on trusted nodes. The monitor and the node modification will include information about funds delegation to the accounts of trusted nodes into the statistics.

Consensus: restriction on the staking cap to 500k.  Setting a psychological limit of 500K for the size of the stake, the probability of becoming a trusted node is the same for nodes over 500K.

Updating The Monitor. Removing inaccuracies noticed in monitor operation: the output of graphic and text information.

API update. Completing the API node, so it is able to work with the web-wallet or any other wallet in the sending mode by any other wallet in the transaction sending mode in parallel processes.

December 2020

Quick start of a node in 10 minutes. Start without reading the blockchain database.

Protection against database locks. Development of protection against shutdowns caused by incorrect operation of the database.

Protection against Executor locks. Development of protection against shutdowns caused by excessive memory consumption by the executor.

Select trusted for N rounds 100. Introduction to the consensus the choice of trusted nodes once in N rounds (by default N = 100).

[DutchFinity]

Credits Weekly Digest Oct the 9nd



Credits, 09.10.2020

Hey Credits Community.

This week was pretty busy for our team. We had some important news these days, we would like to highlight them below.

Learn what the REST API is and find the manual on how to use it on Credits blockchain here.
 
This week Q&A session with the CEO of Credits, was larger than usual and we covered many important topics there, we encourage you to read it and learn our latest updates and vision for future product development. Anything you wanted to ask, please write to us on our TG channel and social media, we will answer in this section.

Yesterday we have disclosed Credits Staking Program Concept. This is important. We are bringing it up for the voting and would like to head back your feedback (good or bad) in order to decide whether we go ahead with it or not.

Today we’ve published our 4Q 2020 Blockchain development plan, containing all technical details.

Dear crypto community, we remind that our airdrop competition is still on, you have got a chance to create a token on Credits protocol and win a prize by participating. Details are here.

Our weekly Credits Update with Arjan Eikelenboom was out last Saturday, if you haven’t seen it yet, watch it here.  

Happy weekend everyone and if you still do not have our crypto wallet, get it asap! We are continually adding more coins and functions, the new design is already there.

Install our CS Wallet! Android/IOS

Credits Wallet provides highly efficient service for cryptocurrency operations
You can buy, sell, and send Crypto assets with amazing speed and super low commission.  

[DutchFinity]

Credits smart contracts fees

Credits, 12.10.2020

Following our article explaining what is a smart contract, together with a manual on how to use it on Credits blockchain. We wanted to bring up your attention to the fees for the Credits smart contract currently in place.

As you may know due to the booming DeFi projects built on the Ethereum protocol, their contract charges have become very high. And this caused the crypto community concerns.

Smart contracts are initially a digital alternative to the legal agreements, they are one of the steps of the blockchain revolution happening right now, and they serve to simplify procedures, and lower costs.

Continue reading:

[Arrrvin]

DeFi Trend

Credits, 14.10.2020

Decentralized Finance - is an ecosystem of decentralized applications (DApps), built on distributed networks without any centralized governing body. DApps are aimed to provide financial services.

This ecosystem is created to establish new financial relationships in the upcoming decentralized space. It allows you to exclude unnecessary intermediaries, to speed up all the processes, and to bring transparency to all levels.

Continue reading:

[roc080]

Why is the price tanking so badly.. is it going to go to 1 satoshi before it goes up.

[gartmah]

The Credits team announced that 300,000 CS tokens were distributed among the node owners in October

https://credits.com/news/162-node-reward-program-october-update.html

[buurraakk]

Is this scam still alive?

Remember when I advised you all to run away at $0.30?

[dogtana]

If I missed token swap my tokens are burnt? But why are they still in my ether wallet?

[DutchFinity]

Is this scam still alive?

Remember when I advised you all to run away at $0.30?

I remember that! Everybody thought you were a troll and mocked you and laughed at you in the Dutch Credits chat.

I gained most of my CS through the bounty campaign so I didn't really lose money on them, and I still got out a few thousand of $. But it could have been a lot more if I had gotten out at $0.30.

They are now starting anew as a crypto bank. But I am not even sure if they got their blockchain up and running decentralized and stable!

[DutchFinity]

If I missed token swap my tokens are burnt? But why are they still in my ether wallet?

The ERC20 tokens are only burned when you send them to the therefore destined address. But the exchanges now only trade the mainnet coins, so you can't really do anything with your ERC20 tokens. I have LOTS of such graveyard tokens.

[NotHatinJustTrollin]

Node Reward Program: January Update. 300,000 CS distributed among network node owners. Find more information about the program here: https://credits.com/news/205-node-reward-program-january-update.html

[Dalib]

Credits Weekly Digest February 12th



This week we have implemented the solution to stabilize the node with high transactional loads. Today we started internal tests, which will be continued for a couple of days. We are running the node in tests to ensure its stable performance. Next week we aim to hold a Test with external developers. The Public Speed/Load Test will follow after this, we hope to hold it in the last week of February/1st week of March, the exact date will be announced.

More details: https://credits.com/news/207-credits-weekly-digest-february-12th.html

[DutchFinity]

Credits have obtained a New European Crypto License

We are excited to announce really good news:
Credits have obtained a New European Crypto License.

Earlier this year, the regulators of Estonia audited all of their registered companies with a crypto license in line with the latest amendments of the law Combating Money Laundering and Financing Terrorism.

The result of this audit was that over five hundred crypto companies in Estonia lost their license as they did not comply with the regulatory requirements.

But we did!

We are very happy that Credits met all the new requirements of the Estonian regulator and received our renewed European Cryptocurrency License.

Continue reading:

[NotHatinJustTrollin]

Credits Weekly Digest February 26th

Public Speed/Load Test

Beginning of this week, we decided to take extra time for internal tests to ensure that node is operating as it should after the updates were introduced. So we were running internal tests all this week to be certain that the node is working stable.

So far we have collected quite decent results in the tests made in the local network and with low workloads.

Today we’ve launched a new trial in the TestNet, results will be available on Monday, allowing us to decide if we can set the internal test with an external group of testers on Tuesday or Wednesday.

Read more: https://credits.com/news/212-credits-weekly-digest-february-26th.html

[dogtana]

There is rumors of class action if team won't return and swap burnt tokens. Since every holder was not notified personally about the swap/burn, stealing away the tokens classifies as fraud.

[NotHatinJustTrollin]

CREDITS Weekly Digest

Updates Testing
We have finally launched several updates in the TestNet which will further enable us to implement new features in the MainNet. The improvements bring the optimization of the use of resources, expedite network functioning, and improve stability and fault tolerance. You can find the full list of updates here.
 
What is next?
More network updates during the period from April to May! We are currently testing the smooth performance of our new features and you can safely expect that there is more to come! We will keep you informed about our all developments.

Please keep in mind that dates may change slightly due to a large amount of work and circumstances that may occur during testing. However, the Credits team will do its best to meet the required timelines! You can find our development plans here!
 
Credits Wallet
A carefully considered development is a great step to reach global adoption in the banking, loyalty, and crypto industries. The team would like to bring a quality product to the market, thus, entirely focusing on testing and improving. An announcement is expected to be made this quarter!

https://credits.com/news/239-credits-weekly-digest.html

[NotHatinJustTrollin]

Credits Weekly Digest

Dear Credits Community, our weekly news update!
 
Adjustment to MainNet
The other day we tested a new assembly of a node in the MainNet since the turned-on nodes are fully compatible across the basic infrastructure. Despite the successful implementation of a similar process on the TestNet, this test has shown the need for additional internal measures to make the system more efficient. Due to the factors associated with the formation of the blockchain state and the change in the inner part of the wallet processing code, we faced the difficulty of executing individual smart contracts and forming their final state in the MainNet. We are currently conducting a further study on this matter. All the activities will be refined and updated in subsequent progress reports as further analysis and tests are conducted.
 
What is next?
We have a May month ahead, which means more network and product updates! We are currently performing tests that mainly add revitalization and fixes for our tech developments. We will keep you informed about all our modifying activities.

Read more : https://credits.com/news/241-credits-weekly-digest.html

[NotHatinJustTrollin]

elcome to Credits Weekly Digest!
 
Here you can find all our news and updates that have taken place over the past few days.
 
The Process of Blockchain Renewal
The tech team at Credits ran a performance wallets test and finally got good results this Wednesday. These changes have been made to the new build. We had to optimize the wallets' structure to get the optimal state of the write-to-disk blockchain wallets. As the preview analysis showed, individual elements have been meticulously developed, but some of the ties ceased to work steadily in conjunction. And the result of it is, erroneous wallet states appeared again on the TestNet. We are currently conducting a further study on this matter. All the activities will be refined and updated in subsequent progress reports as further tests are conducted.
 
Credits Mobile Wallet Updates
The ongoing activities on Credit Mobile Wallet were focused on the implementation of additional features and improvement. As a result, we have fixed several bugs and added the following updates:
New show up animations of the main elements;
New popups;
Updated design for transaction history;
The part loading of all feeds in the app;
New template system for loader parts of screens;
The process of screen preloading;
New preloaders (on-screen ones);
New pin screen;
Validly supported exchange pairs (display process);
Profile avatar.