Q. Is Credits likely to be the breakthrough crypto project that it promises to be?
stirling

Is Credits likely to be the breakthrough crypto project that it promises to be?

Their goals of 1 million TPS and transaction fees less than 0,001 seem awfully ambitious. Is this a creditable project or just a lot of hype?


crypto investing
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Jun, 2018

Cryptocurrency
 66.8 q (claimed)
Accepted Answer
  • armando

    We will know soon. The mainnet will be released at the end of this month (June) or beginning of July. Credits has also hired FP Complete to conduct a third party audit. FP Complete is a prestigious auditing firm that has reviewed the code for Cardano, Microsoft, and Google. Credits has also opened their beta code to a group of over 150 community testers who are presently testing the code. They will soon release the results of this testing and early indicators are that the network is performing faster than the 488k tps achieved in the Alpha release. They have also released much of their code on Github for review (although the parts of the code that enable the high tps will be kept under wraps for a while). Credits uses DPos and BFT as a consensus algorithm (these work much faster than proof of work) and use machine language to achieve high speeds.


       

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Cryptocurrency

Cryptocurrency is a secure, trustful and transparent digital currency which can neither be counterfeited nor be reversed arbitrarily by the sender. It eliminates the necessity of a third party involvement for the exchange, as it is encrypted and peer-to-peer virtual currency. For those who prefer non-disclosure and privacy, cryptocurrency is the solution. The use of this kind of virtual currency prevents any kind of identity theft. The concept of cryptocurrency has given birth to reliable e-cash.

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