Bitcredit

With decentralized crypto-currencies beginning to take root in our world there is growing exploration and demand for services centered around this technology. Bitcredit is a pioneer in providing the first viable Decentralized Blockchain Finace Toolkit. The ecosystem facilitates the Distribution, Accounting and Transfer of currency and assets in an open and secure manner. Transfers are instantaenous and take only 3 minutes to secure.

Base Nodes

Base nodes are a broader re-implementation of Masternodes, that serve as the second tier of the network providing services and products to other users using the blockchain. The services provided depend on the owner and can range from simple transaction processing to Banking and Insurance services. Base nodes also serve as the basis of Decentralized Autonomous Solution (DAS) formation on the blockchain. A DAS can represent a company that wishes to issue digital shares, certificates or assets over the blockchain. Base nodes are divided into categories based on the collateral used, their trust rating and users reviews.

Financing the BlockChain : The Problem

Typical proof of work/reward implementations rely on competitive "mining" to produce blocks and secure the chain. This has resulted in a wasteful mining "arms" race as users try to acquire the most efficient hardware and try to mine a profit. Most of the money invested in this arms race and the subsequent power bills never enters the currencies' ecosystem, this is unacceptable. If all those resources and funds had been poured into backing the currency, many would be worth hundreds or thousands of times more that what they are now.

The Solution

Bitcredit introduces a way to direct as much of the investment into the currency, users can purchase credits directly off the blockchain via 24 hour or 900 Block auction. The proceeds of these daily auctions are used to back the currency and their effect on the overall ecosystem is immediately noticeable to all users. The Bitcredit wallet features a statistics facility that can be used to track the ecosystems statistics and health in real-time.Bitcredit is doing away with the misleading measures,wasteful competition and moving towards a more stable and economically sound model that fosters real growth.

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Bitcredit Features and Parameters

  • PoW Algorithm : Momentum
  • Block target  : 1 Minute
  • Difficulty adjustment : Per Block
  • Bottom heavy adjustment supportive of Solo-mining
  • Base node Collateral : 50 000 BCR
  • Mining : Base node only
  • Max Money Supply: 210 000 000
  • Secure encrypted P2P Messaging
  • Dual tier : Client / Service
  • Internal Block Explorer
  • Bottom heavy adjustment supportive of Solo-mining
  • Address indexing API
  • Service messaging for Automated Request and Response
  • Blockchain Based Automated Escrow
  • OP_ChecklocktimeVerify and OP_Return support
  • Base node Collateral : 50 000 BCR
  • 20 MB Blocks for extended data handling
  • .onion and i2p supported

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