Introduction
The vision is a completely peer-to-peer arrangement for delivery of financial services: money
transfers, currency and value exchanges, crediting, funding and other services made directly between
participants. Everything is conducted without additional intermediaries, according to a principle of
equal participation. As a result, everyone gets cheaper, faster and better services.
The world is moving towards direct interaction between people on peer-to-peer principles –
equal to equal. A revolution has happened! This can clearly be seen by the upheaval in the mass media:
until the 1990s, newspapers, magazines, and TV were the main providers of information. Today,
opinion leaders are bloggers, found on Youtube channels and social networks, money is invested in
crowdfunding and ICO, and information is stored in decentralized cloud systems.
The financial industry is probably one of the few industries that has lagged behind, and resisted
the introduction of decentralization and direct interaction between participants. This despite the fact
that, technically, it is much easier to create decentralized financial services than it is to create unmanned
vehicles.
The right technological environment is required to create a system of decentralized financial
products and services based on a distributed ledger:
1. High execution speed (in seconds), together with the capability to handle a huge number of
transactions simultaneously (hundreds of thousands per second) at a low cost of each transaction
(for micro payments and non-cash transactions).
2. Development of a system where all participants and items necessary for the qualitative financial
decentralized services are combined: identification of users, KYC, credit history bureau,
settlement centers of fiat money, withdrawal and cashing of cryptocurrencies etc.
These two fundamental tasks currently hamper the development of peer-to-peer financial
products.
We present a solution for these tasks, implemented with the help of the CREDITS financial
system.
CREDITS single technology decentralized platform brings together all participants in financial
services, while safely and quickly executing all transactions using the principles of a distributed ledger.
Self-executing smart contracts and the principles of a federative voting system provide unlimited
opportunities for all participants to create unique interactions on various financial products. The
platform opens a huge new potential market for using blockchain projects and services in financial and
other sectors that could not previously be accessed due to speed and transaction cost limitations.
What is CREDITS ?
CREDITS is an open blockchain platform with autonomous smart contracts and the internal cryptocurrency. The platform is designed to create services for blockchain systems using self-executing smart contracts and a public data registry.
The platform can execute more than 1,000,000 transactions per second and has an execution speed of 0.01 seconds. Because transaction fees are minimal, high-volume applications are possible in a way that no other available blockchain can match.
CREDITS platform is the first completely autonomous blockchain system. The platform offers a new, extended application programming interface (API) that utilizes a Turing system capable of creating services using cycles, schedules, and unique functions. No other platform offers smart contract execution speeds near those of CREDITS. In addition, the CREDITS platform can function completely autonomously and without the need for external systems' participation. Accordingly, CREDITS is fundamentally differentiated from any other current blockchain platforms.
We believe that blockchain technology is suitable for financial and loan services, trade, medicine, identification, exchanges, Internet of Things (IoT), and many other applications, some of which cannot yet be imagined.
CREDITS' unique blockchain technology offers paradigm-shifting capabilities to industries, applications, and users who require unmatched scalability. The addressable market for these services is estimated to be worth trillions of dollars.
DOCUMENTS
Smart Contracts
Introduction
A smart contract in the CREDITS system is an electronic algorithm that describes a set of
conditions by which actions and events in the real world or digital systems can be associated.
To implement self-controlled smart contracts, a decentralized environment that completely
excludes the human factor is required, and to transfer of the cost of a smart contract, a cryptocurrency
independent of the central authority is needed.
Entities
A smart contract in CREDITS consists of the following entities:
1. Property (public variables) – the system entity storing public data necessary for work of the
contract in the CREDITS system.
2. Method is the CREDITS system entity responsible for observing the logic and sequence of
actions when conducting the transaction (actions under the contract).
Participants in the CREDITS system sign the smart contracts using the method call which
modifies the contract properties, by launching the processes for verifying compliance with conditions
and coordination.
A smart contract comes into force after the parties sign. To ensure automated fulfillment of
obligations, the execution of contract terms needs to be fully automated. This means that smart
contracts can exist only within an environment that has unimpeded access to the executable code of the
smart contract items.
All contract terms must have a mathematical description and clear logic of execution. The main
principle of a smart contract is complete automation and reliability of contractual relations between the
parties.
Smart Contract Method
The CREDITS smart contract method is the system entity responsible for compliance with the
logic and sequence of actions during the transaction (actions under the contract).
The logic and sequence of actions are described by a program code (module) containing
commands; their sequential execution allows the desired result to be obtained. This code can handle
system commands (for example, the assignment command), user commands (separately written
functions), contract properties (statically or dynamically initialized variables available from any
contract method), and methods from any other third-party contract available only to the owner of the
connected (third-party) contract. To increase usage, the development is provided in scripting languages
(for example, JavaScript).
The method (program code) uses any widely used scripting language operators (commands)
(assignment, conditional and unconditional jumps), the creation of functions and procedures
(subroutines), connection of third-party libraries.
ICO details:
Date: 01.02 - 28.02.2018
Tiker: CS
Token type: ERC20
Hardcap: 20 000 000 USD
The price of the ICO token: 1 CS = 0.0002 ETH
Total Token: 1 000 000 000
For Sale: 60%
Bonuses: up to 30%
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