Dear Credits Community,
today we have burned over 26 mln ERC-20 CS tokens unswapped!
More details:
https://credits.com/news/193-cs-erc-20-tokens-burned.html

Dear Credits Community,

As you may well know, the team continues to work hard so an outstanding result will be achieved when we all participate in the public speed/load test.

What did we do ov...er the last week?

We have launched a number of transaction generators to generate transactions for the upcoming speed/load test. The transaction generators are NOT on the same machine as a Credits' node (the Validator) but are on a completely separate machine that communicates with the Validators over the public network. We are doing this so that the transactions per second (TPS) achieved during the public speed/load test will be 100% authentic. The TPS achieved will NOT be "skewed" by running the transaction generator and the node software on the same machine.
We are doing this to mimic real-world software application scenarios built on a blockchain.

Also, remember too, we are achieving this WITHOUT sharding.

What did we want to achieve?

Last week's goal was to find out the "real world" TPS speed of the Credits blockchain with block formation times of one second.
The hardware used for this speed/load test is outlined here.

To determine this TPS speed, we slowly increased the output of the transaction generators until the block formation time reached one second. The speed reached when this occurred was 20k TPS. At speeds above 20k TPS, the block formation time begins to grow steadily.

The Validator nodes used in the above tests include several improvements, including signature verification with parallelism. We are still testing these upgraded nodes, and if it continues that no violations are found, they will be merged into the code running on the mainnet.

More: https://credits.com/news/179-updates-from-the-development-team-on-speed-load-test.htmlShow more >

Credits is an open-source and decentralized blockchain platform for the development and execution of smart contracts and decentralized applications. The project offers public and private solutions suitable for ...B2C and B2B markets eliminating the problems of trust and uncertainty.

The key advantages of Credits technology are high network capacity, fast transaction processing time, and low fees. These features allow the project to serve as a mediator between users & businesses and initiate the adoption of blockchain technology by implementing different solutions.

Website - https://credits.com/
Developer's Portal - https://developers.credits.com/
Twitter - https://twitter.com/creditscom
Telegram - https://t.me/creditscom
Facebook - https://www.facebook.com/creditscom
LinkedIn - https://www.linkedin.com/company/creditscom/Show more >

Representational state transfer (REST) is a software architectural style that defines a set of constraints to be used for creating Web services.

A REST API is a way for two computer systems to commun...icate over HTTP in a similar way to web browsers and servers.

The term REST was introduced and defined in 2000 by Roy Fielding in his doctoral dissertation.

REST main qualities include

Client-Server. System A makes an HTTP request to a URL hosted by System B, which returns a response.
Stateless. REST is stateless: the client request should contain all the information necessary to respond to a request. In other words, it should be possible to make two or more HTTP requests in any order and the same responses will be received.

Cacheable. A response should be defined as cacheable or not.

Layered. The requesting client need not know whether it’s communicating with the actual server, a proxy, or any other intermediary.

...

https://credits.com/news/141-rest-api-as-part-of-credits-infrastructure-manual-on-how-to-use-it-on-credits-blockchain.htmlShow more >

Problems of the market

The Crypto industry is on a rise with hundreds of new projects and pivot cases appearing on the market every day. But it seems that technology moves forward so quickly that othe...r parts necessary for the successful conquest of the market are left behind.

We find that major things having an impact on progress are the absence of a unified legal basis for industry, the usability and scalability, data rights, and security.

Legal framework and understanding of the technology

In 2017 ICO boom took place with no real framework to protect investor rights, and exploded after leaving the whole industry to bear a tag of a bad reputation. Today the most popular DEFI niche is also seen by many as a potential repeat of ICO 2017 story. Despite the lessons of the past, crypto investors are often not investigating properly the products and projects but only follow the hype and fast profits promises when making decisions.

We as a company and one of the crypto players share this responsibility for the whole industry. We see educating the community about technology and products as a powerful tool to diminish this negativity. By doing this we hope to also reduce the risk of immature investors heading into unknown projects. So we start writing on what is the blockchain, how it works, what is a smart contract and how you can build your own protocol etc, and introducing simple step-by-step manuals explaining work on Credits’ blockchain.

Scalability and interoperability

Blockchain technology is an emerging one and is still immature in a business model where other options are widely spread and accepted. So it takes time to adapt the traditional system for its ability to utilize and exchange information via Blockchain protocols.

For us, as a business, it means sometimes that new interesting collaborations are taking longer than expected, as we have to pioneer and implement innovations in places for the first time. However, we see that recognition and adoption of blockchain are expanding which indicates that processes taking a long time now, will be completed quickly in the future.

...

https://credits.com/news/131-credits-as-blockchain-with-great-potential-current-market-obstacles.htmlShow more >

In our new version of the Credits Web Wallet we have added several functionalities to work with smart contracts such as:

- deploying a smart contract
- the source code of a smart contract can be e...ntered in the webwall editor. With this update it is no longer needed to ‘call’ a node to find a smart contract. You can specify the maximum commission then click the deploy button. Then the smart contract will be complied into the bytecode and placed onto the Credits blockchain.
- error identification. Now, in case of an error, the API will issue an identification of the problem. Previously, when an error of any kind occured in the system message the error was indicated as null.
- API messages are outputted to the web wallet interface to inform the user about the status of the transactions they are sending.


The Credits team is keen to continue further development of the Credits Web Wallet to incorporate more features and to make using it as easy as possible.

https://credits.com/news/116-credits-are-pleased-to-announce-the-release-of-a-new-version-of-the-credits-web-wallet.htmlShow more >

Credits team is delighted to share an update of the Manual Token Swap.

On the 30th of July, another part of the Manual swap coins has been distributed. The total amount of swapped tokens has reached 1...33,700,123 CS.

The Manual Token Swap is carried out from December 20, 2019, to December 30, 2020. This opportunity for exchanging coins is provided for CS holders who missed the swap through exchanges. The next distribution of coins will take place on the 30th of August.

The statistic of Manual Token Swap:

The total number of participants - 1283

The total number of exchanged manually tokens - 26,231,940 CS

The current instructions for participating in the manual swap are available here. For all questions about the manual swap, please contact support@credits.com or the representative of the Technical Support team of the project on Telegram at @botstorm

https://credits.com/news/110-manual-token-swap-july-update.htmlShow more >

Over the past few months, patents for Credits technology have been published. It is expected that the capacity of the technology will soon be expanded to enable it to provide high operational reliability and pe...rformance. The approach is in great demand with financial transactions related to network-based payments like money transfers and alternative electronic solutions.

The infrastructure of Credits platform has been designed and built from scratch. Credits’ technology has been created to allow a number of industries to take advantage of blockchain technologies, engage in secure electronic commerce, issue tokens, and launch decentralized applications. Receiving several exclusive rights is a vital step for Credits to secure more competitive power and gain more room for further development. The list of best practices contains the following features:

Group Collaborative Decision-Making by Decentralized Network Nodes
Method and System for Transaction Processing in Decentralized Network by Network Nodes in Collaborative Decision-Making
Parallel Pool Formation Under Decision-Making by Decentralized Network Nodes

Read more: https://credits.com/news/106-credits-blockchain-patent-package-how-it-will-pave-the-way-towards-mainstreaming-users-perspectives-more-effectively.htmlShow more >

We are happy to inform you that our company meets all the necessary membership criteria of Level39 in London, home to the most ambitious entrepreneurs tackling the great challenges of our time!

Credit...s has successfully embarked on this process. We have received our membership card!

Level39 is the world's most connected tech community, consisting of 1250 leaders in cybersecurity, fintech, and retail tech. The main concept of it is to provide additional productivity to financial services, while at the same time ensuring the security of the economy from possible cyber threats. Companies come together to create a greater inclusion opportunity by competing, sharpening ideas, driving each other’s performance forward.

Among the other active members of the community in the field of blockchain and cryptocurrency are:

Cex.io

Etoro

Nexo

Revolut



For the Credits team, this membership gives access to meet new global multinationals, potential partners, customers, investors, regulators, and many great international contacts. The company will participate in multilateral meetings and upscale programs demonstrating the capabilities and unique nature of its technology. This will bring new opportunities to our field and expand our work in the customer service space.


https://credits.com/news/97-credits-gets-membership-at-level39-a-step-to-achieve-best-in-class-facilities.htmlShow more >

Credits is happy to announce a partnership agreement with Axcess, a British bespoke payment solution provider

The Axcess team works with a wide range of banking partners and has gained an enviable repu...tation for providing reliable and effective payment solutions. Axcess works with each merchant to find out what they require and then find the right banking partner for them, from around 390 connected banks. Axcess will support Credits with the possibility of accepting Visa / Mastercard bank cards within the Mobile Wallet app, provide acquiring and gateway services, and fraud prevention tools to minimize security risks and ensure the safety of our business.

Axcess provides the ability to have multiple banks connected on the same gateway if required to ensure that changes in bank appetite or mitigation of risk can be more actively managed by the merchant. This partnership opens doors for the implementation of CS coin and blockchain technology in a variety of services. There are great opportunities for the adoption of related products, such as Credits wallet and stablecoins.

Axcess has decades of experience in collective fraud monitoring and prevention. They conduct continuing chargeback and fraud alert data aggregation and analysis. This allows for projection calculations to assist in avoiding threshold breaches and dealing with any potential third party fraud in a proactive way.

The bespoke service Axcess provides fits every element and nuance of different structures. The partnership agreement with Axcess will help Credits to adapt and develop new strategies and understanding of the ever-changing world of payment processing.

...

https://credits.com/news/92-credits-and-axcess-partnership.htmlShow more >

Credits is an open-source and decentralized blockchain platform for the development and execution of smart contracts and decentralized applications. The project offers public and private solutions suitable for ...B2C and B2B markets eliminating the problems of trust and uncertainty.

The key advantages of Credits technology are high network capacity, fast transaction processing time and low fees. These features allow the project to serve as a mediator between users & business and initiate the adoption of blockchain technology by implementing different solutions by means of Credits protocol.

https://www.youtube.com/watch?v=C0K2BCNHIUQShow more >

Credits team is glad to announce the launch of Node Reward Program. The purpose of this program is to make the blockchain ecosystem more decentralized and increase the demand for Credits node owners.

...Every month Credits team will distribute $10,000 in CS between all owners of Credits node. The Node Reward Program is considered to be launched from March which means that the users who have been running Credits node since the beginning of March will also receive the reward. In March the price of CS was 0.025 USD which means that the Credits team will distribute 400,000 CS. The exact amount of CS which the owner of the node receives depends on how many times the node participated in consensus algorithm and get trusted.

How to Earn Credits?

First of all user’s PC should fit the recommended system requirements:

- Operating system: Windows 7 / Windows 8 / Windows 10 64-bit / Linux Ubuntu 18.04
- Processor (CPU): Intel Core i5 or AMD Ryzen 5 1600X
- Memory (RAM): 6–10 Gb
- SSD
- Internet connection: 7-10 Mbit/s.

Also, the user should have the minimum amount of coins, required for a node to participate in a consensus mechanism and get rewards - 50,000 CS. More information about the Credits blockchain network you can find on Developer’s Hub.

Credits team appreciates the support of Credits blockchain platform and takes measures to ensure the stability of its work. Such approach allows Credits to increase the number of node owners and the decentralization level, to provide a reliable high-tech product that can change the modern perception of the digital space. Thanks for your support!

https://credits.com/news/62-credits-launches-node-reward-program.htmlShow more >

Credits team is glad to announce the launch of the first ICO based on its blockchain protocol.

FDCE is the First Decentralized Commodities Exchange platform for investment in Metal Bonds Token Offering...

Get acquainted with detailed information -https://credits.com/en/Home/New_Ins/Credits_Blockchain_Hosts_First_ICOShow more >

Credits team is glad to share the statistic of our blockchain platform with the community. We appreciate your constant support and contribution!

Arjan Eikelenboom - Credits Partnership & Investment relations Director will participate in "The Conference Exchanges" - https://lnkd.in/dwjsHpe

Leading crypto exchanges, traders and liquidity prov...iders will take part in this event.

Book a meeting with Arjan Eikelenboom on arjan@credits.comShow more >