Credits (CRDS), a community-driven cryptographic currency, has announced its first public release to take place on the 17th of June, 2017. Designed around accessibility, ease of use, and equality of opportunity, Credits offers people the opportunity to participate in the development of an innovative new cryptocurrency.
Unlike most other cryptocurrencies, mining Credits is done using a CPU, utilizing the cutting-edge, award-winning Argon2d algorithm. In addition to botnet resistance, the Argon2d algorithm is resistant to both GPU mining and ASICs, meaning that anyone with a computer, the Credits wallet software, and an internet connection can mine Credits without being forced out of the market by the widespread GPU and ASIC farms which are currently monopolizing most cryptocurrency mining. Furthermore, Credits protects against multi-mining and jump-mining pools through the implementation of Gulden’s latest difficulty retargeting algorithm, DELTA—the most advanced retargeting algorithm available today.
Credits also features Masternodes, which form a 2nd layer of security on the network, process InstantSend transactions, and mix CRDS for PrivateSend transactions. Masternode and PoW (Proof-of-Work) rewards have been mapped for a 36-year period in order to incentivize a continued return on the investments of both Masternode operators and PoW miners alike; over this 36-year coin creation period, Masternode rewards gradually increase and PoW rewards gradually decrease. This 36-year design ensures the longevity of the network.
In the initial release, the Credits DAO (governance system) will be disabled in order to eliminate the risk of early majority control of the Masternode network. This will prevent malicious parties from creating proposals, voting as a bloc, and subsequently defrauding the network. This governance functionality can be brought online at a later stage, once the Masternode network has grown in size.
Mining will begin at the moment of launch, 10:00 p.m. UTC on the 17th of June. The first block of Credits, containing 475,000 CRDS in total and representing 0.5% of the total coin supply, will be allocated to feature bounties, marketing, hosting costs, and initial development.
As a community-driven project, Credits is completely open source and development will not be centralized in the hands of just one developer—anyone can contribute to the project. The Credits community is currently located on Slack and Bitcointalk (see below), and anyone is welcome to join and participate.
- Genetics Prof. David Haymer Joins DNAtix Advisory Board - November 12, 2018
- Libra Announces Commitment to Support Circle Trade’s Financial Reporting Requirements - November 10, 2018
- Evident Proof, Leading Blockchain Immutable Proof Platform Accept Dash & XRP As Business Adoption Soars - November 10, 2018
- Ethereum Now On Hyperledger Fabric - October 28, 2018
- 8000+ Expected – Blockchain Expo North America Exhibition Announces Expert Speakers - October 26, 2018
- Enjin Smart Wallet Update Will Allow Users To Melt & Send ERC-1155 Tokens - October 26, 2018
- Crypto-Friendly Gallery HOFA Launches in Los Angeles With Qvantum Exhibition - October 26, 2018
- Blockchain Company WePower Announces Plans to Tokenize Estonian Power Grid - October 25, 2018
- Overstock’s Medici Ventures, Buys into Crypto Social Network, Minds - October 24, 2018
- Xfinite to release new Blockchain content platform - October 24, 2018
- Omnitude set to transform enterprise business with the move of its ECOM token to Stellar and the introduction of micropayments to users - October 24, 2018
- Nem, Proximax, And Pundi X Join Growing List Of Sportsfix Sponsor Partners - October 23, 2018
- NEM Foundation’s Founder Lon Wong Becomes SportsFix Chief Technology Advisor - October 10, 2018
- Medici Ventures Backs Wine Blockchain Project VinX - October 4, 2018
- Lithuanian Members of European Parliament Say Blockchain is Here to Stay – Hands Off Regulation! - October 4, 2018
- New Open Source Blockchain Project To Challenge Experian And Equifax - October 2, 2018
- IOHK Launches Cardano Rust Project - October 2, 2018
- Hyperledger and Enterprise Ethereum Alliance Cut Deal to Advance the Global Blockchain Business Ecosystem - October 2, 2018
- Binance Labs Supports Decentralized Global Content Ecosystem Contentos - October 2, 2018
- Nexus Partners with Jeff Garzik’s SpaceChain – Planning Spacenet - September 27, 2018