Tag: decentralized

The Decentralized Financial Service For The Credits Platforms As The Future Digital Payments

The increasing demand for digital payment transactions is due to the digitization performed by every primary provider of staple needs. Since traditional market transfers to markets occur then CREDIT developments must be done to meet the needs of digital transaction users. The market digitization keeps on increasing the demand for digital payments. Payments made using conventional banks in practice take longer. To simplify the transaction the seller’s platform must provide multiple accounts from each different bank. The transaction fee charged is also quite hefty. A decentralized system with the use of blockchain has been present to provide solutions related to transaction speed and offer affordable cost.

CREDITS is a platform that implements a decentralized system using blockchain. The deal will happen in a smart contract. CREDITS provides a place for interaction between participants within the ecosystem. The concept applied to the CREDITS platform is peer-to-peer (P2P). The affected financial services will be based on a distributed ledger with own execution capability by each smart contract. Everyone within the platform can offer and provide financial services. Balanced and undefined technology makes CREDITS offer new technical solutions from a conceptual interaction model that may occur between participants in the network. The developed services will simplify any transactions that may occur in a decentralized system.

Possible financial services within the platform will adhere to peer-to-peer rules so that each participant performs financial transactions such as money transfers, currency exchange, funding, lending, and other services that can occur directly. Additional intermediaries are not necessary at all in the conduct of transactions. The absence of intermediaries will make deals happening easier, faster, and cheaper. The revolution in the financial industry must begin immediately by applying a direct interception in a decentralized system. Digitalization of financial services will bring the system through the stages of the revolution to become better in the future.

All financial participants will be incorporated into the ecosystem can receive all services safely and quickly with the application of the principle of the distributed ledger. The federal voting done in running smart contracts will give some restrictions to the participants in creating the interaction in each selected financial service. The use of blockchain will form a new potential for the economic platform by offering low speed and transaction costs. CREDITS will be one of the first financial service providers to use a decentralized system by prioritizing the convenience and convenience of transactions for participants in the platform. For more information, you can visit https://bitcointalk.org/index.php?topic=2401248 and https://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf to access the white paper.

The Architecture Of CREDITS Platform That Delegated Proof Of Stake


In its development, CREDITS will use a network ledger system which will use smart contract methods that support any agreement made within the ecosystem. Some types of network nodes are also used based on decentralized network development goals based on free access from node connections. Then the general blocks book will sync with all the public ledger on all system nodes. The knot will also be synchronized in determining the definition of the overall trust of verification. Besides, CREDITS also uses a network consensus system as an appropriate method for group decision making.

Systems running within the ecosystem are a set of network nodes that process, store transactions, and confirm some requirements within smart contracts. The system also plays a role in processing requests made by third parties and providing information on the data requested. On each client computer will be installed the network so it will form a node that is connected to the standard system. The node will act as a verifier and will list every event in the ledger. Any transaction that is authenticated by the system and stored on the network node will be recorded in the ledger. Deals are items within the system that are indicative of the demand for performing a quick contract method and any action on the network. Every transaction that happens will be recorded in blockchain results.

The system items used in the ecosystem also include a Smart Contract that will allow members to obtain agreement by the terms of interaction. The logic of the contractual relationship will be applied in the user interface with centralized source independence as the leading property in the smart contract in a decentralized system. The calculation of the results of the work is entirely the responsibility of the Smart Contract method applied and will record any agreed terms into the ledger. Contract-related parties are final network participants and CREDITS system users.

Network nodes that are implemented in the running of the system will use standard nodes that participate in the verification to achieve validity. Common nodes have a minimum trust factor that is a candidate for a trusted node role. The common node will also be the current node of the processing in the next cycle in the selection of node roles in the network. The next node contained in the node is a trusted node that has the maximum trust factor. The trusted node is a candidate for each node role in processing current and common nodes. As long as the number of elections and voting is calculated mathematically, this node cannot be trusted. The calculations performed will depend on the number of nodes and the complexity of the network. The node that has the responsibility to add transactions to the ledger block is the primary node. The node will use a trust factor with a numeric value of 0 and 1.

The general ledger term used in the system means that a single unit of information stored therein will contain the previous block hash code. All data lists associated with the ledger will be related to the last number associated with the block. The transaction will take its place within the block after receiving the block from another system according to the number so that it will save more bandwidth of the network. Block number will be checked first as long as synchronization is done. When the block is gone, then the block will be downloaded and saved back by the node. It will make the most recent copy in the ledger and will be called the last book. The recording will be done by the node that has responsibility for the ledger formation.

Each data stored in the ledger will send blocks to all existing data nodes remain up-to-date, and there is similarity of data ledger in each current system node. The node will always be associated with other nodes within the network so that it will continue to exchanging blocks with transactions that occur. It is also done to keep information relevant. The set of operations will be formed in all blocks to wait for additional data to be done in the ledger. So it will be possible to store the data in the accounting several times for each server and node system. All information will be protected because more and more nodes in the network then the system will be more reliable and more independent.

Sync node is done every new node to define definition and trust thoroughly in the verification process. All processes that occur will be handled simultaneously and independently so that the level of processing information will always be improved. The bookstore will be empty, and space will be backed up in RAM when no incoming variable makes access simpler. When the required ledger is not available, the request will be sent to a trusted node. The node will receive all transactions, and then account synchronization will be performed. Disbursement will be done in sync that runs when the input parameter is the object that characterizes the deal. The operation generates the numeric code to be started to determine the position number in the ledger. The thread will end when the method ends with an error connection.

CREDITS uses the Proof-of-Stake (PoS) concept as a group decision-making method. When the node identification process generates a block, it will perform maximum liquefaction in each pile that occurs between competing node participants. Compensation made to increase the ledgers in the blockchain will be provided for fix mining blocks. All vertices on a decentralized network will cause none of them have priority. It is essential to be able to define a network node so that it can process the transaction queue stored in the network node. Then the transaction block must be entered to be stored in the ledger.

The Contribution of Sales Token For CREDITS in the ICO event


Pre-ICO has been completed on December 26, 2017. The results obtained are also quite significant. Total contributors who participated in Pre-ICO are 700 participants and made in 1100 transactions. The number of tokens sold is 4,029.12 ETH or equivalent to 3,002,135 USD. If you want to contribute, then you can follow the sales of ICO which will begin on 1 February 2018. Make sure you keep up with the information so as not to miss the time of contributing. To join as a contributor, you can register at CREDITS official website at https://credits.com.

The first step when you will participate in a token sale is to fill in some information already available on the registration form. You can enter a minimum amount of contributions to join. Make sure you have an Etherum address first. You may only participate if you have an Etherum address, if you do not have that address, you will also be disqualified from a smart contract.

The amount of your contribution will determine how much information you provide. The amount of grant under 10 ETH will require necessary information only. But when your contribution amounts to 10 ETH and more then you will be asked for additional information such as full name, address, and some other extra documents. It aims to meet Know Your Customer (KYC) procedures so you do not have to worry because the information you provide will be safe on the platform.

CREDITS provides some ease in digital payment transactions. Not only that, but financial services can also be done through this platform such as currency exchange, funding, withdrawal, and other financial services. The use of blockchain technology will create a decentralized network with the achievement of an agreement using smart contracts. The distributed ledger will also make any transaction data safely stored. The use of the CREDITS platform will save costs as it offers the security and comfort of good deals for a right price too. Do not miss the CREDITS token contribution event on ICO to participate in CREDITS development as a financial services platform in the future. The development of CREDITS can be updated through the following platform community in social media:

INS ECOSYSTEM: The Worldwide Decentralized Ecosystem Connecting Consumers Directly to Manufactures

What Is INS Ecosystem?

INS Ecosystem is the first worldwide decentralized ecosystem. INS provides grocery market where consumers and manufacturers can do the transactions directly without wholesaler or retailers. By buying products directly from the manufactures, consumers can get lower prices, discounts, or other promotions of excellent quality products. Moreover, both consumers and manufacturers can make direct interaction to make the transaction process effortless.

INS Ecosystem Limited integrated with BVI Company, INS, which makes the INS platform, tech, and tokens. INS has a focal point on producing an open source that enables the INS ecosystem’s operation. In order to participate in INS ecosystem, people need to make an account on its platform. Throughout the registration process, the users will be provided with a profile and wallet later on. The profile will keep the user’s data; meanwhile, the wallet offers the information of INS token.

INS founded by professional people, Peter Fedchenkov and Dmitry Zhulin. Fedchenkov got his MBA from Harvard University. Meanwhile, Dmitry Zhulin got the Ph.D. in Finance from the University of London, and he has been experienced in crypto-assets and Bitcoin. With their experiences in retail, tech, and e-commerce, together they make INS company become the first worldwide grocery market to connect manufacturers and consumers directly.

The founders of INS has experienced in the grocery industry for years. They develop Instamart, the largest grocery market in Russia that provides delivery operator. Instamart had more than 200 workers and cooperated with largest retailers and grocery manufactures in a country, including the FMCG companies such as Coca-cola, Mars, P&G, Unilever, and Pepsi co.  After four years experience in Instamart, they finally found the inefficiencies in the grocery industry. Then, they create INS Ecosystem that provides fair ecosystem between consumers and manufacturers.

Besides Fedchenkov and Zhulin, INS is also managed by other professional teams. Dmitry Khovratovich manages the blockchain and smart contracts in the INS. He has four years experiences in this field and becomes an expert in cryptography for 12 years with 2,000+ citations. Moreover, due to its function as the global decentralized market, INS also has three great expansions team. They are Prabhakar Reddy for Asia Expansion, Frank van der Tol for Europe Expansion, and Michael Schmidt for United States Expansion.


For managing the relationship of global manufactures, INS put its trust on Fedor Lisitsyn. He is the MBA candidate for Harvard Business School and has experienced in FMCG sector. INS also gets the professional list of advisors as follows:

  • Eyal Hertzog: The co-founder of Banco, Chief Architect of Product Development, founder of MetaCafe.
  • Moe Levin: The founder of Bitcoin Conference at North America, CEO of Keynote.
  • Michael Terpin: The founder of Transform Group and Coin Agenda, Co-founder of Bit Angels, successful PR.
  • Rawi Abdelal: The professor of International Management in Harvard Business School
  • David Wachsman: Wachsman’s founder.
  • Dmitry Filatov: The founder of Topface, ICORating, and several ad-tech and crypto tech companies.
  • Ilya Perekopsky: Blackmoon Financial Group’s co-founder
  • Sebastian Stupurac: Wings’ co-founder, experts in decentralized platform and blockchain tech.

With all those professional and experienced people, INS’ purpose is to make the top decentralized market place for consumers. Moreover, it is also used by wide audiences by preserving a flourishing ecosystem of consumers that want to buy daily groceries with lower prices and manufacturers that want to sell their products directly to its customers. The main role of INS ecosystem is to build up the open source tech to run operating the platform and make a thriving model for all parties.

What Manufacturers that Join in INS Ecosystem?

INS Ecosystem is cooperated with over 500 manufacturers in the world, whether it is the local manufactures or the worldwide ones.  Even, INS own great interests from Top global manufacturers such as Unilever, Valio, Borjormi, Reckitt Benckiser, and Friesland Campina. INS acts as the helper for manufactures avoiding the wholesalers and retailers so that they can promote and sell the products directly to the consumers worldwide. INS focuses their target in replacing trade promotions with more efficient and fair marketing by facilitating a direct connection between consumers and manufacturers.

To connect both consumers and manufacturers directly, INS creates online grocery as its target segments. Online grocery is predicted to develop from $98 billion in 2015 to $290 billion in the next 2020. INS creates online grocery market with several benefits that belong to consumer demands such as high-quality products, lower prices, higher expediency, and direct rewards or promotions from manufactures.

How INS Ecosystem Works?

As it has been explained, INS utilize online grocery platform to connect manufacturers and consumers directly. There are several ecosystem participants in making INS works well: the platform, consumers, manufacturers, and fulfillment.

  1. The INS Platform

INS create a platform for decentralized grocery market that let manufacturers connect, publish and promote its products for sale, create loyalty campaigns, and own feedback directly from the consumers. Also, the INS platform also allows consumers to purchase those products easier. The roles of INS platform include:

– Managing the INS token launch and creation.

– Elaborating the aspects of ecosystem regulatory.

– Developing marketing campaigns.

– Establishing fair, secure, and decentralized order execution.

– Releasing app and website for customer, workers, and couriers fulfillment app, and manufactures web interfaces.

– Creating efficient incentive model intended for parties to connect with INS ecosystem.

In the INS platform, there are some key components that important to understand. However, each participant only can access some components via its platform.

  • Consumers
  • Products: Products are sorted in defined parameters like category assignment, price, name, ingredients, volume, details, and others.
  • Placing Orders: To pick what products, delivery options, and payment method.
  • Product Search: To short and filters the products to buy
  • Promotion: Get promotion as making first order
  • Rating Score: Provide rating of manufactures and products. Consumers can give the rating without disclosing their identity.
  • Manufactures
  • Product Search: Pick specific filtersan shorting methods for products.
  • Loyalty: Set the reward type, product lists, expired date, amount, and others.
  • Promotion: Set the rules of promotion and deposit tokens.
  • Cross-Marketing: To create more sales, promote products to new consumers, find partners, and sell products.
  • Feedback: Get direct feedback from consumers.

  1. The INS Manufacturers

In INS ecosystem, manufactures belong to individuals or companies who focus on the business of groceries, fresh products, and household items. They can be from local farmers, multinationals, or global ones. INS cooperates with several professional companies such as Coca-Cola, Unilever, P&G, Mars, Procter & Gamble, and so forth. The INS manufacturers own several roles include:

  • Publish, promote, and sell products
  • Deliver their products purchased by consumers to fulfillment
  • Promote INS through promotions of their apps
  1. The INS Consumers

Consumers become the main target of INS ecosystems. They can be individuals or companies that purchase online good quality products at lower prices. To order the groceries, consumers can place their orders via INS app, INS website, or original apps from manufactures. The INS consumers also own roles include:

  • Find groceries listed by manufacturers
  • Make orders and purchase them
  • Contribute to feedback demands
  • Get a promotion, feedback rewards, loyalty, and referral.
  1. The INS Fulfillment

The last participant in INS Ecosystem is the fulfillment which belong to workers, center operators, and couriers. The center operators offer a place where workers receive products sent by manufacturers. The center workers have several jobs include:

  • Collect products sent by manufacturers
  • Pull products together into orders
  • Overtake orders to couriers

Besides center workers, the fulfillment participants also refer to couriers. The INS couriers operate as independent contractors. The INS couriers’ roles are picking up orders from center operators and deliver it to consumers.

Why Should People Join INS Ecosystem?

INS offers a lot of benefits to the consumers who purchase products in INS platform. By joining INS, people can get direct interaction with worldwide grocery manufacturers. INS offer more benefits not only for the consumer but the manufacturers as well.

  • Consumers Benefits of Joining INS
  • Purchase products without wholesaler or retailers intervention.
  • Get products with higher quality and lower prices than retail stores.
  • Purchase the groceries online conveniently and easily without going out to the grocery store.
  • Receive orders delivered right to the doorway without spending time for offline shopping
  • Give feedback directly to manufactures
  • Get promotions, rewards, or special deals from manufacturers
  • Manufacturers Benefits of Joining INS
  • Get full control for listing and pricing the products.
  • Publish and promote products for making customers easily to order
  • Offer fair prices for every product
  • Own direct feedback from costumers
  • Get new costumers and keep the loyal ones by offering promotion and rewards
  • Get higher ratings and more consumers by offering promotion and rewards

What are Blockchains Apps in INS Ecosystem?

INS ecosystem’s platform utilizes Blockchain technology. It is a shared-database tool which mostly used for supporting digital currency of bitcoin. INS also uses smart contracts for managing the agreement of consumers and manufacturers where it is directly written into some codes. Smart contracts allow the reliable transactions between consumers, manufacturers, and other parties without the legal system, enforcement mechanism or central authority.

The INS ecosystem platform is also specially designed with a high-load system. It happens due to the large number of its users that reach into billions. Even, every user makes a lot of orders each year. That is why INS uses advanced blockchain and smart contracts which offers great performance and stability. INS decides to design and develop its blockchain platform for future which makes possible thousand transactions every second. Blockchain applications for INS ecosystem include:

  • Smart Contracts

Along with smart contracts, blockchain offers technology for a new marketplace where provide reliable trading transaction based on business rules. INS offers several Smart Contracts to facilitate the sale systems.

  • Payments

In e-commerce, every payment process needs over ten different steps for resolving one transaction. Even, it involves up to 15 divide fees for paying the payment gateways. However, INS uses blockchain tech to cut these long route payments. Blockchain becomes the solution for making e-commerce payments more reliable and more efficient. By using blockchain for INS platform, the payment process gets the higher potential for fast transaction and lower prices.

  • Supply Chain Management

INS is included as the e-commerce company. Each e-commerce company needs to own supply chain management for manufacturers, consumers, third-party sellers, logistics providers, and delivery service. In this case, transaction blockchain contains fixed fees, commission, and order details. All of it will be in the outward appearance of smart contracts, and those will be used for capturing delivery and return occurrences, documents, and others. The blockchain will record the whole process of the transaction, and all parties can access the transaction process.

What is INS Token and How to Use it?

INS ecosystem utilizes INS tokens as its core components. It is specially designed to facilitate the whole INS operations. INS creates its token as the essential element of its ecosystem and its economy. The INS tokens are fungible, divisible, and transferable. User’s token transfers and balances are tracked by INS system. Therefore, if there is a big problem such as the contract negotiation, token theft, and unsettling change of Ethereum procedure, INS could freeze the token transfers.

INS token is specially designed and planned to be the one and only exchange and payments for managing all kinds of rewards or purchasing process in the INS ecosystem. Moreover, INS plans to accept INS tokens as payment methods for its partner services.

Overall, the usages of INS tokens are divided into two types, for manufacturers and consumers. For the manufacturers, INS tokens can be used for rewards, cross-marketing, loyalty, promotion, and feedback. Meanwhile, the consumers can use INS tokens as the payment method to purchase products via INS platform. However, besides the tokens, INS also offers another payment method for the consumers. They can pay the products in BTC, fiat, or ETH (bank transfer). The prices and rewards will be different based on the payment method. Here’s what you need to know about INS tokens.

  • Consumers can purchase INS tokens with minimum purchase 0.1 ETH.
  • For every 1 ETH is same as 300 INS tokens.
  • The Customers are only allowed to own 50,000,000 of tokens supply at maximum.
  • The INS tokens are transferable as its ICO is reached
  • Funds are returned as the soft cap is not completed
  • No token mining, creation, or minting as ICO in at the end of its period
  • The distribution of Reserve Fund’s token starts in 2019 and will be last for two years.
  • Get 3% additional bonus when buying token using reference link

How to Use INS Apps and Website?

INS ecosystem provides the INS website and INS apps for connecting global consumers to manufacturers. In the INS apps or website, consumers can purchase a lot of groceries from global manufacturers and give direct feedback. Meanwhile, the manufacturers can use the app for publishing and promote their products. Besides, they also can get direct feedback from the consumers via INS app. The INS will publish its app with GitHub as open-source software. The INS app and website will be divided into some categorizes, as follows:

  • The INS App for Fulfillment

The apps for fulfillment will offer information of fulfillment process, so the center workers and couriers can easily coordinate to each other, consumers, and manufacturers. The INS app for fulfillment can be downloaded on Android Play.

  • The INS Web for Manufacturers

For manufacturers, INS offer web interface that can be accessed in a web browser. This one does not need installation requirement to perform whole actions. The manufacturers can use this INS web to list, publish, and edit the products. Also, they can manage the stock control, reward policies, consumers feedback, and set-up delivery options.

  • The INS Web for Fulfillment Center Workers

Lastly, INS provides the web interface, especially for center workers. Similar to the web interface for manufacturers, this one also can be accessed in a web browser without installation.  This web interface will allow the center workers to control and manage the warehousing fees, earning reports, and obtain statistics.

The INS app and website surely can be the efficient way and solution for online grocery market. It can facilitate the consumers, workers, and manufacturers in purchasing and payments process. Besides the app and website, INS also own Telegram: https://t.me/ins_ecosystem and Twitter: https://twitter.com/ins_ecosystem. Get closer to INS via Twitter and Telegram for new updates about discounts, rewards, and promotions of special products.

How to Join INS?

INS surely becomes a great marketplace for people who want to get groceries with good quality and lower price. Also, INS becomes the solution for busy people out there who have no time for offline shopping. On the other hand, global manufacturers can get some benefits as well by joining INS ecosystem. It is a truly wide-reaching decentralized ecosystem that is needed for all consumers and manufactures.  Check its websites: https://ins.world/ for joining and supporting INS and getting further information about INS ecosystem.