Lets Give Credits some credit! I am very excited to report that credits has released the over 400k transactions per second proof video to the world. This very well may be the fasted blockchain network to date!
The Alpha version of CREDITS showed a speed of 488,000 & 403,000 transactions per second during the testing
Conclusions of test results.
The data obtained during these tests represent a great value for the blockchain community and our project. The test helps to assess the real allowable load on the network, which should be considered when anticipating a large flow of operations.
First, we have proved that our system can handle large transaction volumes from 500 thousand per second, with the prospects of millions of transactions. We are proving the feasibility of processing millions of transactions per second with an average processing time from fractions of a second.
It should be understood that the programming code is not optimized and will later have a huge potential for improvement and optimization.
The average minimum time of passing a transaction record into the database is 1.302 microseconds ( 10 –6 sec) (transfer between nodes, processing and preservation in the storage). Another report about speed of transactions will be given soon)
Monitoring and analysis of the results helps to detect existing and potential problems. During our test, we naturally encountered many difficulties that required further work to improve the system.
At the present moment, the technical team of CREDITS is represented by more than 70 people who work on the project, issuing of releases and improving the platform code.
What is CREDITS ?
CREDITS is an open blockchain platform with autonomous smart contracts and the internal cryptocurrency. The platform is designed to create services for blockchain systems using self-executing smart contracts and a public data registry.
The platform can execute more than 1,000,000 transactions per second and has an execution speed of 0.01 seconds. Because transaction fees are minimal, high-volume applications are possible in a way that no other available blockchain can match.
CREDITS platform is the first completely autonomous blockchain system. The platform offers a new, extended application programming interface (API) that utilizes a Turing system capable of creating services using cycles, schedules, and unique functions. No other platform offers smart contract execution speeds near those of CREDITS. In addition, the CREDITS platform can function completely autonomously and without the need for external systems' participation. Accordingly, CREDITS is fundamentally differentiated from any other current blockchain platforms.
We believe that blockchain technology is suitable for financial and loan services, trade, medicine, identification, exchanges, Internet of Things (IoT), and many other applications, some of which cannot yet be imagined.
CREDITS' unique blockchain technology offers paradigm-shifting capabilities to industries, applications, and users who require unmatched scalability. The addressable market for these services is estimated to be worth trillions of dollars.
transactions per second
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