Rumors from the pub
CREDITS – a new generation of blockchain

CREDITS platform is a decentralized financial system for the direct interaction between participants on peer-to-peer (P2P) principles. The platform expands the potential of using financial services on the basis of a distributed ledger, self-executing smart contracts, and CREDITS cryptocurrency. CREDITS single technological decentralized platform can combine all participants of financial services, safely and quickly execute all transactions using the principles of a distributed ledger. Self-executing smart contracts and the principles of a federative voting system provide unlimited opportunities for all participants to create unique interactions of various financial products. The platform opens a new huge market and a new potential for using blockchain projects and services in financial and other sectors that could not be used previously because of speed and transaction cost limitations.

The Credits Platform

The CREDITS platform uses its own combined protocol to increase the speed of transaction processing, to provide complete security of data storage, processing and transfer of transactions. The protocol is based on the calculation of the mathematical function of all ledger transactions, applying the Proof of Work principles. It accurately determines the storage of the latest up-to-date copy of the ledger
and software at this node (Proof of Capacity), by calculating the checksum of the values of the entire contents – the hash code. The size of files is determined as well, as the proof that this is the latest, up-to-date copy and a hash code of the latest transaction recorded in the system.

CREDITS Ledger Structure

They offer to abandon Merkle trees and use the transaction ledger in the CREDITS system; with each entry consisting of a hash code of the transaction block to add to the list of candidates in addition to the ledger. Also, the entry has the node identifier and the timestamp when it was generated. The ledger entry contains the transaction direction, its initial and final accounts, the type of write-off, the
number of write-off units, the type of depositing, and the number of depositing units. This principle increases the speed of transaction processing, increases the complexity of illegitimate ledger change and excludes possible changes in the ledger entry with hindsight.

Search for Transaction Participants

CREDITS peer-to-peer network can be represented as a graph, with user accounts in the form of vertices and a multitude of possible transactions in the form of directed edges that connect two vertices (account). Since all edges have an initial and a terminal vertex, you can always construct an oriented graph (orgraph).
If take the following conditions for identification:
● Any transaction always has a sender and a receiver;
● Any vertex (account) can always be connected to another vertex with a directed edge (transaction);
● Any vertex of the graph (account) has a finite number of directed edges (incoming and outgoing transactions).

In connection with the foregoing, we can say that the orgraph contains the required route for fulfilling the necessary transaction conditions and construct a simple chain. Since it is a finite sequence of vertices, where each vertex (except the last) is connected to the next vertex in the sequence by an edge.

CREDITS Cryptocurrency

After launching the release version of the system, a fixed amount of 1,000,000,000 CREDITS will be issued. They will be exchanged for ERC20 standard tokens, issued at the initial token sale.

They will be exchanged at a fixed exchange rate: 1 ERC20 standard token = 1 CREDITS monetary units.

 

If you want more information, visit the WEBSITE and read the WHITEPAPER.

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