NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Credits: The New Blockchain Platform for Miners

NewsBTC
NewsBTC
1 year ago
3 mins read
credits

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

On August 27, Credits Blockchain Platform announced the start date for the partial swap. A partial swap involves the migration of tokens from the Ethereum protocol to the Credits protocol, which will allow the company’s token holders to launch the Credits platform software and become full-scale participants of the network.

The swap is scheduled for September 5th. The swap will be carried out from a minimum of 50,000 tokens which is the required number of coins to join the network consensus and to take advantage of the opportunity of receiving rewards for transaction processing. 

By September 2, 2019, Credits has already received over 200 applications, which suggests that over 200 nodes will be joining the network in the near future.

Credits Consensus Algorithm

Node operation is the basis for the majority of blockchains working on consensus algorithms with full decentralization. By delegating the transaction validation process to node operators and establishing clear rules of commission charges, node-based Credits blockchain allow their network operators to earn passive income without sacrificing high energy costs associated with coin mining.

The Credits Consensus Algorithm is Proof-of-Agreement (PoA). It incorporates features that are characteristic of DPoS (Delegated Proof-of-Stake) and BFT (Byzantine Fault Tolerance) and has 3 stages:

  • Selection of nodes for decision-making. A necessary amount of nodes — a minimum of 4 nodes and a maximum of 201 nodes with currently valid states selected for consensus via the algorithm of a random selection of nodes from the received hashes of all network nodes at current states after the elimination of nodes with insufficient staking amounts. 
  • Voting on the current pool of transactions and making a decision about transactions to be added in the block for subsequent addition to the storage.
  • Adding the block to the storage of trusted nodes and its subsequent distribution throughout the network.

Within a network, every node has the same chance to become a validator and to get rewards for processed operations.

Staking on Credits Platform

Staking, in terms of Credits protocol, requires storing 50,000 Credits Coins on the user’s wallet. This is the required number of coins for a node to participate in a consensus mechanism and get rewards. The amount of stake doesn’t affect the frequency of node participation in the consensus protocol.

Rewards are formed on the basis of fees collected as a result of the following operations:

  • Transfer of Credits coins between the platform participants;
  • Deployment and execution of a smart contract;
  • Transfer of Credits blockchain-based tokens;
  • Purchase of information from third-party sources for services within the system.

To date, the daily number of transactions on the platform has exceeded the 100,000 mark and is continuing to grow due to the increasing number of dApps based on Credits protocol. Today, there are more than 20 dApps that generate transactions within the network daily. The average reward for each node operating participant of the network varies from 500 to 5000 Credits (CS) coins per month.

Prospects

The launch of the partial swap is a clear indication that the full public swap of the company tokens is drawing near. The open public swap will lead to further expansion of the company’s infrastructure by attracting partners seeking to take advantage of the company’s product offering.

The increasing adoption and application of Credits software solutions in real business models is certain to increase the number of network transactions. The rise in Credits’ network activity will undoubtedly have a direct impact on the commissions being charged per transaction on the Credits blockchain, thus giving node operators the opportunity to increase their earnings.

About the Author: The author of this article is Martin Goldmann. 
Martin is a freelance writer with a background in journalism and publishing. 
He is a former managing editor of a cryptocurrency news outlet. He has been 
involved in the cryptocurrency industry for over two years and fully believes 
in its capacity to change the world.
Tweet123Share282ShareSend
NewsBTC
NewsBTC

NewsBTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price

Bitcoin Price Closes Below STH Realized Price For The 2nd Time In 2025 — Details

According to the latest on-chain data, the Bitcoin price has closed beneath a crucial level for the second time in...

Opeyemi Sule 15 hours ago
Bitcoin

Bitcoin Risks Deeper Losses If $107,800 Line Fails To Hold – Details

Since reaching a new all-time high of $124,427 on August 14, Bitcoin has entered a prolonged corrective phase, losing 12.18%...

Semilore Faleti 17 hours ago

5 Underrated Crypto Projects Bursting With Potential

There are tens of thousands of different cryptocurrencies in the world, and many of them are surely destined to fail....

NewsBTC 18 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum news

Ethereum Will ‘Likely 100x From Here,’ Says Joe Lubin

Jake Simmons 16 minutes ago
Bitcoin price crash

Pundit Calls Bitcoin Price Crash Below $93,000, Reveals Bear Targets From Here

Scott Matherson 1 hour ago
xrp-breakout-trigger-100x-altcoin-launch-tw

XRP價格臨界爆升技術測試點 這個百倍山寨幣是否已經開始啟動?

markh 4 hours ago

Premium Sponsors

Press Releases

  • Mova Gala: Mainnet Activation — Ushering in a New Era of...

    6 hours ago
  • Token6900FTRD

    仮想通貨 1000倍...

    10 hours ago
  • HyperFTRD

    Bitcoin Hyper Presaleが1300万ドル突破 – ico...

    10 hours ago
  • MARAのAI参入と6BドルのBTC保有が示す次の波 – Bitcoin Hyperとミームコイン市場の可能性

    仮想通貨...

    10 hours ago
  • ミームコインと2025年最高の仮想通貨プレセール:BlockchainFXが620万ドル調達、TOKEN6900やMaxi Dogeを圧倒

    ...

    10 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.