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Singaporean blockchain startup Credits announced the launch of its mainnet on March 31.
In its announcement, Credits described its mainnet as “a peer-to-peer network which serves as an add-on to the Internet.”
Credits has claimed that the platform has high network capacity – capability to handle more than 50,000 transactions per second. Other key features include minimum time to process a transaction of around 0.1 seconds; low fees ranging from $0.001; and smart contracts with advanced features and tools.
“It’s been a year-long journey to get this technical masterpiece. From the beginning, we were intended to bring absolutely new solution that could find its application in a wide range of industries,” Igor Chugunov, founder and CEO of the company, said (as quoted by Finance Magnates).
According to Finance Magnates, Credits has developed an open blockchain platform with standalone smart contracts and its own internal currency.
The mainnet launch includes the public availability of the main Credits Platform components including Credits Node - full client software; Credits Monitor - blockchain explorer; Desktop Wallet - desktop version of wallet with a full functionality; and Web Wallet - web version of wallet.
“The Credits platform contains all the necessary functionality to start using software for development and production dApps,” Credits said.
“Of course, as with any blockchain product, this version is not the final one. In subsequent releases we will launch a series of optimization processes aimed at enhancing our network and data storage modules, API, further develop our SDK, and much more. The most significant updates will take place through hard forks.”
Credits is eying the Indian market, particularly the country’s banking industry, for the deployment of its network. The company has reportedly been in talks with a number of Indian banks for the deployment of blockchain in the current banking infrastructure.
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