Interview with CREDITS (CS) CEO

Could you talk about yourself and your experience in the industry?

Igor Chugunov: I describe myself as a banking specialist. I also have a remarkable experience in the creation and development of financial and internet services offered in banking and credit fields.

Evgeny Butyayev is the technical manager of the project and a developer with ten years of experience in the finance industry. For the past three years he has been developing blockchain technology for Poland-based company SRI Infotech.

Valentin Antonov was awarded the team leader. I have ten years experience in developing finance and banking systems. Moreover, over the last few years, he has been closely following the development of Ethereum and focusing on the system's problems, making transactions available where overloading is possible. Now he is applying his thoughts to CREDITS.

We have hired developers who have vast knowledge about crypto-money and who have dreamed of developing existing technologies. Despite the belief that big corporations are a cry for money, the CREDITS team wants to prove that they promise a great future. That's exactly why; we have set the goal of building an important financial instrument for thousands of dollars worth of transactions to be made at the rate of commission that any bank in the world can not offer. Moreover, we have a team leader and a will to combine people into a team and make investments for the development of the project.

What is the Credits project? How does it work?

Igor Chugunov: Some of Bitcoin, Lightcoin and other crypto money use a complicated system for approving transactions and offer the best possible solution with difficulty. A complete blockchain takes hundreds of gigabytes, and of course, this factor does not increase the speed of validation of transactions.

Our system uses an improved and optimized blockchain called the "Registry". The main difference between this and the classic blockchain is that each block is given a unique number. The required blocks are loaded from other nodes if needed. In addition, restricted decryption is also performed for confirmation that accelerates the project. Other factors, along with this, allow the data to be compressed. This increases the gaps in nodes on the CREDITS network by up to 90%. CREDITS is the first blockchain platform to be autonomous in all aspects. With CREDITS, it will be possible to create truly independent and decentralized services within the blockchain. It is also possible to realize this in the context of smart contracts due to newly developed features.

What is the thought behind Credits? Would you describe your technology?

CREDITS is an open source blockchain platform with autonomous smart contracts and built-in crypt money. The platform is designed to produce services for self-managing intelligent contracts and blockchain systems that use public data records.

Tests and calculations proved that CREDITS can handle up to a billion transactions in a second. This means that the money will be deducted immediately from your guard and transferred to the sending account.

Moreover, an operation is carried out within a maximum of 3 at least 0.01 seconds. It's completely dependent on the speed of your internet connection. Imagine that you are in a store and you read the QR code into your phone; your payment is immediately confirmed. The cost of a transaction is approximately 0.001% American dollars. This is a rather unusual commission rate. A transfer from a bank to a bank with a standard credit card can hold up to 0.5% to 2%. The safe and cheap transfers we have received have caught the attention of some American and Japanese-based companies that have consulted us on financial issues and are eagerly awaiting the trial version of the platform being put on the market.

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Thank you.