🔔AMA BC Blue Sky Ventures & Credit
🗓Time: 3 PM UTC / 10 PM UTC+7 – September 10th, 2022
🎤Guest: Dan Ronchese (CEO)
Credit – A decentralized, open source smart blockchain the supports CRC20 and CRC721 smartcontracts, supported by a global team of dedicated community members.
Part 1: Introduction of the Project and Guests
1. Firstly, can you give me brief introduction about Credit?
Credit is an EVM smartchain (It works like ETH, BSC etc), designed from Ethereum but using new technology that makes it all much faster.
The best thing about Credit smartchain is you can use all your favourite Ethereum tools, a good example is this:
Our primary wallet is metamask.
It’s easy for users and developers a like, changing over to Credit Smartchain network. this is something many have done, like when you changed from Ethereum to BSC in order to save on Gas fee’s.
Changing to CREDIT is the same except instead of spending a few $ cents per transaction, you wont even spend $0.01 in your entire lifetime.
The solution to transactions fee’s is essentially for the foreseeable future, ie: 100 years plus
2. Please share a few major milestones of Credit during its development process
Top 2 milestones:
1. Near zero $ Gar fee
2. 100,000 TPS (1000x faster than eth)
On 2 September 2022, we launched Credit Smartchain on mainnet with a live testnet for developers, we are in the process of building the ecosystem.
I think the major milestone for us since launching is our validators, we currently have mare than 30 validators (9 more than BSC) already live and processing blocks. With another 30 candidates all eligible to join.
These nodes were all developed from within our community and the program has been successful at locking up more than 60% of supply into validation. https://status.cscscan.io/
We changed the consensus mechanism of Ethereum from POW to PoA aka Proof of Authority,
CREDIT can scale up to 100,000 transactions per second, so zero fee does not mean slower.
We also improved the blocktime to ensure that our validator set can execute transactions in mere seconds.
Earlier this week we burnt 2Billion CSC almost 10% of supply, that’s a milestone worth mentioning, however it wont be the last. Once we conclude distribution we expect to burn a little more later this month.
Last but not least the amazing reduction in Gas fee’s is profound. Trades on a dex that currently cost me more than $1.00 on BSC, cost me $0.000004 on CSC. and they are much faster
Part 2: 5 questions collected before Twitter
Can you please tell me a little more about the Credit management team ? Personally, I’ve seen many projects kicked off with inexperienced team members and some of them not going well due to avoidable mistakes?
My name is Dan Ronchese, surname is pronounced: Ron Keh Zeh and not Ron Cheese as you might think. It’s Italian, even though I am an Italian I was born and raised in South Africa.
I am the founder and CEO of The Credit Project, I am also the blockchain lead for the project.
Our community started way back in 2018, Credit was originally TerraCredit but we removed the Terra due to obvious reasons. We never had any connection to them.
We have survived many storms since then and we continue to grow and deliver products that keep getting more decentralized and better all time.
CSC Credit Smartchain is about change the Web3 space by adding inclusion on another level, removing fee’s lets anyone play.
What is CREDIT’s strategy to build a strong community? Do you agree that the power of community will lead your project to grow globally? What services does CREDIT provide to the community?
Our project is the community and the community is the project. I may have some titles but in all honesty I am just the first member.
Over the last 4 years we have always allowed our technology to be user lead, we are always in a state of constant improvement and continued development around creating the the most sophisticated blockchain that derives it value from simplicity.
Our team is prepared to work with any community based project, we have done this successfully recently and will continue to do so as we grow our ecosystem.
Can you share with us about Credit Core wallet? I find it quite interesting and has the potential to grow with other wallets on the market
Credit core wallet supports our other smartchain, yeah we have multiple chains. CRC is a strictly POS based EVM smartchain, also offers the same low cost as the new CSC but it is not as fast and had some uptake issues because its actually a BTC fork with an EVM layer. So we had to create our own version of metamask to allow for easy wallets etc.
Its ideally suited for commercial applications and is easily supported with the credit core wallet on any pc or desktop. users stake their balance and earn block rewards of 50 coins per block.
Zero fee, Fast and scalable are the things I really find good about Credit Smartchain. Is that a differentiating factor from your competitors? and Why does Credit exist? What is your mission?A:
Credit exists because of decentralization, we find it to be the most revolutionary and radical technology/psychology to have graced the modern age.
As Credit has grown, we have found our identity behind our quest to solve the Gas problem, once and for all.
We did not aim to solve the Gas problem, for all the people already in Crypto. clearly some of them like paying fees, i however dont.
We solved the Gas problem so the other 99.99% of the world can join in the revolution that is Web3.
We are easily differentiated from our other L1 eth chains by our speed, we are an eth chain, our chain connects to metamask, and we top out at 100k TPS.
We have also opted for a superior consensus mechanism, PoA proof of Authority allows validators to confirm transactions in record time.
we have really short block times and a large network or validators and candidates that outnumber our competitors considerably.
Is Credit a long-term investment vehicle like the blockchains currently on the market? What is the algorithm that Credit is using?
Yes, CREDIT has a million usecases. Its primary use is Gas, any action of CSC Network requires CREDIT for Gas.
Over time as the benefit of zero fees and unbridled speed are more commonly known, our mcap is set to grow and that will be down to genuine demand for Credit.
(Obviously price will rise, these calculations are based on todays prices.
CREDIT transactions remain under $0.000021 even when we enter dollar territory.)
Part 3: Free Q&A at BC Blue Sky Ventures
PARTNERSHIP & COLLABORATIONS are the backbone in making every project more widespread. Can you list some of ur partners with us? @danieleronchese
Yes, we have a great partnership with another project who made it their goal to be the first Dex on CSC.
A goal they achieved and we cant wait for everyone to start using it early next month.
Since we recently launched we will soon be moving our focus to business development, we have a local team in South Africa currently in training.
We have an AMM Dex and two DeFi protocols joining shortly after the Dex is live. Follow us on twitter you will see who they are 🙂
They will call on all DeFi, NFT and dexs in the current EVM space. Explaining the same facts i have shared here today.
According to the roadmap, what is your most important next priority? Do you have enough funds and strong community to achieve the goal?
Top priorities for this year are:
1. BSC to CSC Bridge: USDT, BNB, BTC, ETH and CREDIT
2. ETH to CSC Bridge: USDT, BNB, BTC, ETH and CREDIT
3. Making LP on Uniswap.
4. Improving BSC LP.
5. NFT platform for creation and marketplace.
Next year and beyond:
1. Setup DAO
2. Assign team (Ex-Delloite & Touche’ partners)
3. Contact VC
4. Grow ecosystem with funding.
Can you explain how is your Tokenomics Distrebution? How many token Will be minted ? And How many tokens Will be locked by the teams?
please answer me.
The premine is the total supply. 25Billion coins were minted in the genesis, and there will never be more.
Our validators earn Gas fees as reward. We have burnt 2Billion so far and we expect to end up burning a total of 10-12% of supply by the end of the month.
Staking for users is coming very soon and will have a decent APY prefunded and predictable, this wont increase supply either. The staking will reward longer lock ups.
Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Here are all the links you need to get to know CSC:
Website : https://creditsmartchain.com
Whitepaper : https://creditweb3.gitbook.io/credit-smartchain/
Chain Documentation : https://docs.creditsmartchain.com
Network Status Monitor : https://status.cscscan.io/
Metamask Connectivity : Mainnet
Network Name : Credit Smartchain Mainnet
Network URL : https://mainnet-rpc.cscscan.io/
Chain ID :13308
Currency Symbol : CREDIT
Block Explorer : https://explorer.cscscan.io/
Metamask Connectivity : Testnet
Network Name : Credit Smartchain Testnet
Network URL : https://testnet-rpc.cscscan.io/
Chain ID : 40627
Currency Symbol : CREDIT
Block Explorer : https://testnet-explorer.cscscan.io/
Source code: https://github.com/Credit-Smartchain
Wallet : https://metamask.io
How can I buy your tokens right now and also which wallet support your token? Thanks answer my question?
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:
💻 Website: https://creditsmartchain.com
📱 Discord: https://discord.com/invite/9AzARvPWTp
📱 Medium: https://medium.com/credit-smartchain