CREDITS, the new blockchain technology

5 min readDec 28, 2017

In this post, I want to introduce you CREDITS- the first blockchain platform (protocol with smart contracts) with its own internal cryptocurrency, CREDITS (CS).Blockchain capable of supporting more than 1 mln transaction per seconds, 1–3 second operations, and low transaction fees.

CREDITS platform has its own unique features built on the principles of blockchain technology: public decentralised ledger/storage system, presence of the independent nodes, the consensus model, the internal cryptocurrency CREDITS etc. But platform does not have block system like Bitcoin and Ethereum. Credits developed a very unique architecture of ledger, new concensus protocol, new advanced full smart contracts, saving trasnsactions, transfer transactions and more. It allows the project to achieve a level of performance that is unattainable by other platforms: the speed of transaction is low as 0.1 seconds and the total number of operations ranges within more than 1 million operations per second at a low transaction cost. The platform’s target audience is highly diverse: banks and financial organizations; payment and online services; internet of things (IoT) applications created on the basis of blockchain technologies; smart contracts; and crypto currencies and fiat money, which require high speed (a few seconds) and low cost transactions. The financial industry requires high-speed processing and low transaction costs above all else. These attributes enable shopping, payments, transfers, exchange, and much more.The CREDITS platform is designed to be highly flexible. It can be used to perform most “obvious” blockchain functions (e.g., currency, store of value, etc.), but can also be customized for applications that the team can’t yet imagine. Bellow, I want to show you some techical features of Credits Blockchain:

The CREDITS Foundation, which is located in Singapore, was created for the development of the platform. After the completion of development and release of the platform, The CREDITS FOUNDATION will be the sole and official representative of the platform.

Credits project is lead by an experienced team, which I have the honor to present you:

I. Credits Project Team

II. Credits Advisory Board

The first blockchain platform — Bitcoin offered a new form of interactions between participants. The decentralized principle of interaction, where participants make the transfer of value through bypassing the central authority, which previously seemed impossible was actually developed and demanded by users. The Bitcoin network makes only one transaction — transferring internal value from one participant to another.
The Ethereum platform is the first and successful attempt to transfer complex interaction processes to the built-in programmable solutions called smart contracts, also acting independently and in a decentralized manner.
But the first blockchain platforms had single followers and were mainly used by encryption enthusiasts. They were not initially designed for a significant number of users and are now able to handle several operations per second, which is not enough for mass use in a business with a significant number of users. Virtually all the subsequent blockchain platforms are to some extent the continuation of the classical scheme of Bitcoin structure with minor changes in the principles of consensus or network operation.
Currently there are not many platforms that can fully meet the technological demand from users and businesses, and fundamentally solve the problems of the blockchain platforms concerning the speed of transactions, the total network bandwidth, and the cost of transactions. These are three major groups of problems and there is a number of smaller issues. These problems are fully solved by the unique CREDITS technological platform based on a fundamentally new blockchain scheme, principles of transaction processing, finding consensus and of data saving.

Now, I want to give you a few reasons why you should choose Credits:

1. A really new technological solution to problems
2.Aimed at a specific target audience — the financial industry MVP Ready. At the moment, MVP has a minimum of features implemented:
-A node — a network node that stores data
-System member ID is a public and private key
-Transfers– transferring values between network participants
-Consensus– implementation of the algorithm for selecting the node responsible for storing data in blockchain
-Saving transactions — saving data to blockchain
-Wallet — a visual representation of the system operation with a minimum of features at a third-party service at credits.com.Project prototype simultaneous processing of up to 1 million transactions per second

3.The average operation time is approximately 3 seconds
4.Very cheap operation cost of about 0.01%
5.Affordable operation cost for micropayments and the Internet of things
6.No existing, working analogs in terms of characteristics (as of summer 2017).

Credits pre-ICO sale was a huge success, raising 3,002,165 USD , 4 029,12 ETH. The next step of raising funds is Credits ICO, which will start on January 15th 2018, when you are all invited to join! Also, I present you Credits roadmap, in bellow description: