What is Credits (CS) in India?
CREDITS is a new cryptocurrency protocol that made headlines in February 2018 for its seemingly unbelievable whitepaper promises. While announcing it would hold an ICO between 15th and 28th February, the CREDITS whitepaper contained promises to solve most of the problems associated with regular blockchain payment protocols. Buy Credits (CS) India with BuyBitcoin.
One of the promises made by CREDITS was that it would increase the number of transactions validated per second to a million instead of the 7 transactions per second processed by bitcoin. The promise was one of a kind as it would make it the fastest payment protocol in the world, beating ethereum’s 300,000 transactions per second by a mile. A week after the ICO, CREDITS has already doubled in value on exchanges.
How Does Credits Work?
A prototype of the platform is already available, which helps to explain how the project has been coming along so quickly. Through the website, Credits describes itself as the most technological and scalable platform because of its use of “revolutionary” blockchain technology and consensus-based algorithm. The algorithm will combine multiple different coding solutions that will lead to a faster and more stable platform.
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Furthermore, the platform will make use of security measures such as encryption and algorithms designed to prevent fraud. The data transferred by the platform will be compressed in order to increase available bandwidth and take up less disk space.
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Some potential areas of use for Credits will be within financial and banking systems as it can potentially reduce transaction costs and make data more secure. The platform will be able to connect all sort of IoT devices onto one network. Also, crediting options will increase as users will have access to the best available loans globally.
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CREDITS Team and Partners
CREDITS has a dynamic team of 34 members and 8 advisors. Most of the management team comes from Singapore where the network is registered. However, the majority of members come from different countries around the world. The team’s diversity is CREDITS’ biggest asset. Igor Chugunov is the CEO of the platform while Valentin Antonov acts as the leader of the diverse team.
The company’s advisory board consists of mainly US-based entrepreneurs and blockchain related founders. Christophe Ozcan, Nitin Gaur, and Michael Kapilkov are all founders or co-founders of blockchain related companies and lead advisors at CREDITS.
If Credits can actually deliver on its promises of processing a million transactions per second and keep transaction speeds under three seconds in general, then it can surely be successful in establishing itself as a leader in cryptocurrencies. Because of the increasing move towards cryptocurrency utilization, a more practical platform will certainly have some appeal because it can open up possibilities for several new markets.
Buy Credits (CS) in India
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