CREDITS-very fast blockchain platform

In this article we will analyse CREDITS ICO. It is an interesting project with a great potential. We highly recommend you to analyse it.

Introduction

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. The system is aimed to unite all participants on one site, providing them with a platform for creating and using financial services; where everyone can both offer a service and use it. Thanks to a well-defined and balanced technological system, the CREDITS platform offers a new technical solution and a new conceptual model of networking participants’ interaction for the development of modern decentralized financial services.

Network Consensus

The consensus in CREDITS is a method of group decision-making. With the aim to develop
final solutions acceptable for all network nodes .                                                                                                                                                      Consensus Comparison:
The definition of the principles of the decentralized CREDITS ledger to compare different types of consensus:
● ledger availability (nodes can write data to the ledger and read them from it at any time);
● Modifiability by all participating network nodes;
● Consistency of all system nodes (all nodes see an absolutely identical version of the ledger, which is updated after changes);
● Resistance to separation (if one node becomes inoperable, this does not affect the operation of the entire ledger)

Transaction Processing

A transaction is the minimum unit of the system informing the platform of the execution of contract methods or direct transfers between accounts without creating a smart contract, followed by placement of the result in the peer-to-peer network.To achieve the decentralized nature of the system, each server must have both ledger storage
and also be a fully-fledged handler of all transactions. The system uses the concept of system kernels. By kernels, we mean a data handler that performs a specific production task, regardless of the availability and operability of the remaining system components. Each kernel, at the input, at the time the task is executed, receives a list of variables for processing. And always gets a result at the output – positive, any other or an error. As a result, the system kernel always contains the response code, in addition to the main data set. This structure is required for the highest possible speed of each process, which must work independently of each other.

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.For more information about credits  access the link whitepaper and CREDITS.

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