Tag: financial

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:

CREDITS Use The Revolutionary Blockchain Technology For The Best Financial Digital Service

The use of blockchain to build a decentralized system is the latest innovation to simplify digital transactions. CREDITS is one of the blockchain platforms that use smart contracts. The crypto concept is also applied in the platform to create a better blocking system than existing systems. Better use of blockchain technology will enable CREDITS to handle faster transactions of one million operations in one second. Using a decentralized financial system as a direct interaction between participants within the platform will make the transaction ease and cheap to happen. The potential use of financial services will use a distributed ledger.

The use of peer-to-peer aims to create services that can provide financial services such as money transfers, lending, currency exchange, funding, and other transactions conducted directly by each participant. All transactions that occur can be done without an intermediary, and the cost incurred more affordable. The quality of service received will also be better with faster transaction time. The peer-to-peer concept is tantamount to a revolution in financial services where the money will be invested in ICO and crowdfunding. All information obtained will be stored in a decentralized cloud.

The introduction of decentralization with direct interaction has been applied to different types of platforms. It’s just for the financial services until now still not using the system. That’s because the digital system is considered less secure to store essential transaction data. However, technically the creation of a decentralized system with blockchain technology has a high level of security. The use of ledgers distributed in digital financial services will speed up transactions and the costs incurred will be lower for each payment transaction that occurs.

Financial services using distributed ledgers can assist in the development of systems with better-decentralized service quality. Quality improvements are made with user personal information services, fiat money settlement centers, crypto liquefaction, withdrawals, and KYC. As a solution to the essential tasks that must exist within the financial services platform, CREDITS uses decentralized technology. The platform can provide secure and fast financial transaction services. Limits that apply within the system will be created based on original contracts that each participant can agree upon on the platform.

A decentralized system also allows participants to have interactions that can provide services for financial products. New markets may be open in blockchain financial services. The use of the system to perform digital financial transactions has become an option because it offers convenience and affordable costs. The need for digital payment transactions is increasing rapidly every year. The use of traditional banks is still considered less efficient to make payment transactions in the digital era. The development of existing technology continues to encourage the digitization of every aspect of life.

CREDITS is present as one of the revolutions of the world of sacrifice that has a lot of support and renewable technology to create a secure transaction at an affordable cost. The integration of blockchain technology and distributed ledgers is an excellent idea to improve the quality of financial services. CREDITS also implements smart contracts to forge an agreement with each participant incorporated in the platform. With support from the digital community, CREDITS will bring banking services faster and easier to meet digital payment needs. For more information, you can visit the Ann Thread at https://bitcointalk.org/index.php?topic=2401248.

The Implementation of Smart Contracts within CREDITS

Implementation of smart contracts within the platform is essential to support a decentralized system. The intelligent deal will present an automatic algorithm in the form of an overview of sets of conditions that indicate the conditions of an action taking place in the digital world. Smart contracts within CREDITS can be controlled by every participant in the ecosystem. Centralized authority is still required to realize an independent cryptocurrency to use the cost of smart contract transfers. This is because a fully decentralized environment does not include the human factor needed in it. The concept of smart contract is expected to facilitate the implementation of a system that provides financial services in peer-to-peer. Transactions under smart contracts will allow each participant to get the appropriate deal with the needs.

In a smart contract will consist of several entities consisting of properties and methods. The property has a function to store a public data required in a smart contract that is implemented within CREDITS. Then in a smart contract will also require a method to be responsible for logical observation and sequencing of actions on transactions conducted under the contract. Each participant can use the call method to modify the contract properties to launch a verification process. Smart contracts will apply after each party’s signature is signed. An extension environment will be required to ensure compliance with the obligations under the automation of contract implementation. The requirements of the smart contract will have a clear mathematical and logical description of the execution.

The smart contract will be automated to meet the completeness and reliability of the contractual relationship between the parties involved. System entities contained in the smart contract method implemented within CREDITS will be responsible for the sequence of actions and logic as long as the transaction can be made under the contract. Modules run in action will explain following execution commands that allow obtaining results from the wishes. Each code in a smart contract can handle assignment commands, user commands that have separate functions, contract properties that contain static and dynamic variables that have initialization within the contract method, and methods of any other available every contract.

Scripting languages are also provided for the development of a more famous smart contract system. The program code allows for the use of all scripting operators. The method used in the contract will be run with a virtual system environment and is called a VM. The allocation of the memory area and the bytecode load of the contract will contain methods and variables that are redefined when the other contract codes are called. At runtime, VM will start the procedure for bytecode method.

Variables and codes will be loaded into memory areas that are executed with commands that will be executed in a row. Then each result will be transferred into the peer-to-peer network to be placed in the ledger. The user of the system will be the initiator of the execution method that can behave on behalf of the method launcher. CREDITS will be one of the incubators of the value of the contract unit to be able to compare two chaotic units and build consensus to run the contract. CREDITS cryptocurrency will serve as a platform that can affect the transfer value.

The overall concept built in the CREDITS platform development has the goal of getting each participant to enjoy transaction convenience. Each service requested by the participants can be done quickly and efficiently but at a low cost. To ensure the speed CREDITS chooses blockchain technology. The use of blockchain will also make every transaction more secure. With the support of the smart contract that will provide comfort for each participant to reach an agreement. The platform will be developed to successfully deliver the best digital financial services to every participant incorporated into the ecosystem. For a conceptual overview of CREDITS, you can see it in the white paper at https://credits.com/Content/Docs/TechnicalWhitePaperCREDITSEng.pdf.

The Token Sales Of CREDITS

 

CREDITS token sales are one of the most critical events to realize a digital financial services platform. Token sales will be held at the ICO event. To participate, you must register first at https://credits.com website. Pre-ICO has reached 3,002,135 USD or 4,029.12 ETH. Token sales on Pre-ICO has managed to get 700 contributors from 1100 payments. The soft cap has been set at 1.5 mln USD, and hard cap is at 3.0 mln USD. You can see smart contract for ERC20 in Etherscan. You can perform a request procedure for a whitelist in advance to get the participation inside ICO.

Registration for all contributors is done on the website page to enter the list to the whitelist. Then the contributor will make a payment first for any contributor who has a small payment will be executed first. In ICO implementation, CREDITS team has conducted legal opinion in Singapore and USA. The result of a legal advice states that CREDITS is a technical token or utility. CREDITS has also been approved to be sold to all citizens of the world. America, Singapore, and China are also included in countries where citizens can contribute to ICO operations.

The success of ICO will be influenced by how the concept of the project is offered. The whole idea has usually been described in the whitepaper. To get many contributors, the deployment of information about the platform is also critical to enable anyone worldwide to join in token sales events. Each person can contribute with a different value even if it has been specified minimum amount for the token purchase. The information provided by contributors to the platform may also be varied for a specific payment amount.

For contributors who have a purchase value of 10 ETH or more, will pass the KYC process or know your customer through a separate identification. Contributors with that amount will fill in some data such as name, address, and some official documents needed for transaction security and convenience. While for contributors under 10 ETH does not require detailed verification. Each contributor must have an Eheleal address that will be used for payment. Ethereal address ownership is the main thing because it will determine your participation in ICO. If you do not have an Ethereal account, you will be automatically blocked by Smart Contract.

Credit can make transaction settlement quickly. The required execution time is only 0.01 seconds to complete one million transactions. By using blockchain technology and smart contracting systems, CREDITS will improve performance with API programming. CREDITS is a very reasonable range when compared to other platforms. As a new project that provides many services for consumers, Credits have shown rapid progress so that the number of funds received will be more useful to complete the project development process. To be able to support the completion of the platform development you can contribute to ICO as the pre-ICO has closed on December 26, 2017. ICO will start on 1 February 2018. Make sure you keep abreast of platforms to make token purchases at the predefined time. Tokens may not be available after the ICO event ends. For more information, you can visit the following link: