Credits is pleased to announce the details of the Credits Mainnet launch. In this article, we provide details about our key launch events, expanded details about the 2019 Credits Platform Roadmap, market entry strategy and our approaches to enhance visibility.
Table of contents
Mainnet launch
Source Code release and bug bounty
Token Swap
Platform tests
Infrastructure development
Conclusion
Mainnet launch
The launch of the Credits Mainnet is scheduled for 31st, March 2019. The 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;
Web Wallet - web version of wallet.
Credits Platform 2019 Technical Roadmap
We proudly present the Credits Technical Road Map for 2019. The current version, as of March 31, 2019, of the Credits platform contains all the necessary functionality to start using software for development and production dApps. 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.
Publishing Credits Source Code and Bug Bounty Campaign
A long held measure of success in the Blockchain community is the publishing of code in GitHub. For various reasons, foremost among them our patent applications, the Credits project had to be very careful in managing the publishing of our code prior to our mainnet release. For the past few months, we’ve privately submitted our code to independent auditors who have provided feedback which we’ve incorporated to make the Credits Platform fast, safe, and secure.
With the release of our mainnet, we will begin publishing the complete source code of Credits protocol on GitHub. We expect to gradually release our code onto our official Credits GitHub page during the month of April, until our full source code has been published. This is a very important step that will increase the level of transparency of the project, which lead to the growth of developers audience and increase platform adoption. We hope this release forms provides the basis for a joint use and collective development model, enhancing the project ecosystem.
After the publication of the complete source code, we will launch another Bug Bounty Campaign. The main purpose of which is to improve the quality of the code and eliminate minor bugs. Additional details of the Bug Bounty Campaign will be provided at a later date.
Token Swap
Token swaps will take place in phases beginning with our Mainnet Launch.
Token Swap Phase 1 - Development and Stability test
We will also provide a partial swap option with a fixed limit amount of coins per person to allow for the development and use of decentralized applications and services, based on the Credits protocol. Exact amount of coins available for swap will be announced when Mainnet will go live.
Token Swap Phase 2 - Public Swap
A full swap of tokens will occur after 2-3 months of stable Mainnet operations. This measure has taken with focus to maintain the high level of platform security. As such, we intend to carry out our bug bounty campaign and test the level of platform workflow at different layers before the beginning the common public swap.
The common public swap will be accomplished via either exchanges or via a smart contract. The token swap will be announced 1 month prior to the commencement of the swap:
Exchange Token Swap - users may transfer tokens to an exchange where the token swap will be executed. Exchanges on which the swap will occur will be provided at a later date. For now, CS token holders can store their tokens on any ERC20 compatible wallet.
Smart Contract Token Swap - A web-enabled smart contract for swapping CS tokens for CS coins will be provided for users that do not wish to use an exchange. Complete instructions will be provided a month before the start of the swap.
Platform Tests
Decentralization and capacity tests are scheduled for Q2-Q3. The tests will begin after the publication of the full source code on GitHub. We are considering different approaches to carry out tests in a credible manner. One approach is to create a separate network to carry out tests, as sustained testing on the mainnet with a minimal stable load of 50k transactions per second for an hour will be costly. Test will be carried out publicly in accordance with all required conditions.
Infrastructure development
After launch of the mainnet, the project team will be actively involved in the development and scaling of the project infrastructure to attract developers across the globe to create applications and services based on the Credits protocol. As part of this, we are developing programs to support the joint promotion of product and services that will utilize the Credits Platform. Grants of up to $10000 will be provided for approved projects. If your project is interested in discussing the development of your products and services on the Credits Platform please contact arm@credits.com
In conjunction with the testing and bug bounty campaign, we are planning to launch airdrop campaign with a total prize fund worth of 100 000 CS. The campaign’s strategy focuses on testing the functionality and stability of the platform. An article with requirements for participation is currently being prepared for publication.
Additional items on our priority list include:
The release and update of our technical documentation
adding support for Trezor and Ledger cold storage wallets
Development of a wallet browser extension and an escrow wallet.
Conclusion
The release of the Credits Mainnet is a long anticipated milestone. It is our goal to inform the blockchain community of our technology and we begin our marketing activities in earnest. Our goal is to communicate our vision for the future of blockchain and get our platform known to the masses. This includes building our visibility towards the development community, providing support for the decentralized application ecosystem, expanding our use cases, and the integration of our platform into existing businesses. We will focus on innovation and achieving our long term goal of having the best blockchain platform. Thank you for joining us on this journey as we enter a new phase of our platform development and expand the adoption of Credits technology.