Dear Community,

as we are developing and testing DAPP in these days, we are adding some real-time photos, of how it looks like:

https://prnt.sc/hed3gq
https://prnt.sc/hed3xc
https://prnt.sc/hed4ac
https://prnt.sc/hed4pa


Hope you like it.

We wanted to share with you a short explanation what is DAPP, to clarify for those who are newbies in the community.

DAPP is an abbreviated form for decentralized application.

A DAPP has its back end code running on a decentralized peer-to-peer network. Contrast this with an app where the back end code is running on centralized servers. A DAPP can have front end code and user interfaces written in any language (just like an app) that can make calls to its back end. Furthermore, its front end can be hosted on decentralized storage such as Swarm or IPFS.
If an app=frontend+server
since Ethereum contracts are code that runs on the global Ethereum decentralized peer-to-peer network, then:
DAPP = frontend + contracts


Making an Ethereum-backed web application gives you several things for free:

Payment processing: No need to integrate with Stripe or PayPal to accept funds from users. All users can send/receive Ether as a common payment means.

User Credentials:
Users don't need to sign up; they already have an account, which is a public/private key to bind with their user session and metadata.

Database:
Storing a lot of data in the blockchain is expensive, so likely the blockchain isn't going to be the only database for the application, but mission-critical pieces of data can be stored forever on the blockchain.

Logging:
Etherum contracts can create their own logs, which a DApp can query to know what's happened in the past, rather than needing to create separate logs.

Trust:
Your users can trust your code, since not only is the front-end (Javascript) code visible (via browser inspection tools), but the back-end logic (contract code) can be inspected too, so it can be independently verified that your code doesn't have backdoors in it to steal all their funds.
If you're planning on using any of these in your application, either initially or long-term, building as Ethereum-backed (a DApp) gives it a nice head-start.

https://imgur.com/a/51d4N

yours CreditDev team

Dear Community,

we are very busy with the development of the functionalities for the Creditbit; after meeting the DAO members last week, we yesturday introduced the DAPP to our Team Manager.
We expect to successfully finish the testing within two weeks and launch the finalised product. After that, we will engage our resources into the final development of the CreditGAME.

Things are moving fast.

Best regards,
DEV Team

Hello community,

we are happy to announce that we have started the next phase of development cycle...


So we have published CreditDAO - https://etherscan.io/address/0x40219dd5412e3DF40CA3c1C9A7c47786028E626c#code where first ever elections have started. The elections will be over in a month and who ever wants can candidate can do this via a simple method on the contract(sumbitForElection()), with this you become candidate and can start getting votes.

For users that want to vote there is a simple method(vote(address _participant)), where you can vote with your locked balance for the candidate, but be aware if your locking period expires before the end of elections your vote will be denied. In that case you must lock your coins for a little bit longer.

At the end of the elections we will get the team that will be the managing the dao finances for the next year, we wish all the candidates a good and fair elections.

We have also deployed CreditDAOFund - https://etherscan.io/address/0xf8fB6940bb64016375B7d5Db477d03fd3F4BA699#code wich holds the dao coins and ensures that they cannot be withdrawn. Besides that only the CEO of creditDAO will be able to claim locking rewards.


You can expect the detailed development plan soon, but for now we will publish Election instructions soon and untill the end of the month we will publish first creditGame.

Yours creditdev

Greetings community,

we would like to point out some facts about the team. “narnar” on August 13th copied the old team members which developed Creditbit 1.0. “Ajeto” replied him with the proper explanation on August 16th. Considering the old team please refer to this explanation.

We, the development team behind the Creditbit 2.0. are working hard to bring DAPP and CreditGame to you ASAP.

As from today, we engaged the Community Relations Manager, who will address you here as “CreditBit-cm”. Please allow him some time to get used to his role, but he will watch this space and try to reply all the questions ASAP. He will take a lot of burden from our shoulders, leaving us more time and energy for the development.

Furthermore, we assigned the Team Manager, his alias here is “CreditBit-tm”. His role is to find and engage the proper candidates to form the List of Candidates for the Executive Board, so expect the elections soon.

I would like to point out once more that the way Creditbit 2.0 will evolve is described in the Whitepaper, so if you haven't, please read it here:  https://www.creditbit.org. It is available in English, Chinese, Portugese and Slovenian.

cheers,
Yours dev team.

Greetings community,

although there has been a little bit of media silence we are back from vacations and starting the development.

Besides that we are allready forming the group of candidates for DAO and will start the voting process in a month or so.

We have allso been working on DAPP and CreditGame for quite some time and you should expect first games of CreditGame platform soon. We will start with Lotto which will be the easiest to use and then gradually release others more complex ones.

We thank you for your patiance and will reward it with awesome solutions on top of Creditbit

cheers,
Yours dev team.

Greetings community,

we have successfully ended the first phase of CreditDAO testing, right now we are prepairing for phase 2, in this phase we will send the code to outside reviewer so we will be as sure as we can be certain that there will be no prolem with CreditDAO funds.

Dear community we thank you for waiting for this a little bit longer than expected but we wanted to be sure that yours funds on the DAO will be as hack proof as possible.

If all goes well we will launch the CreditDAO, CreditFUND, CreditDAOBoard and CreditDAOCommons in second half of this week and imidiatley start with the election process, so prepair yourself, the fun times on Credit are comming.

Dear Community,

Some fruitful days are behind us, so we have some interesting news for you. Thank you for all your opinions here and on Slack, we will try our best to improve our marketing and promotional side. It is true, every coin/token has a development team that is trying to concentrate on development and improvements, pushing Smart Contracts in testing and publish them as soon as we can. It is very easy to set a long wish list of things that "should be done", but we must set a priority to each task to get things done. I am sure that there are many views of what our priorities should be like and also we are constantly reviewing our set of goals, but expecting that everything will be done immidiatly is not realistic. Human resources are limited and we must use them with consideration.

ATM, we are focusing on development of DAO SCs and Dapp. Our priority is also to change [ANN] page and to organize a Community Meetup. All other promotional and marketing activities should be addressed by DAO and Executive Board. Those respected members of Executive Board will have a power and the obligation to fulfill these needs, that you identify. Our current PR is surely not strong enough to fulfill all your expectations. We understand, that a lack of these activities are obvious at the moment, but to enable DAO to work properly, we must first develop and test corresponding SCs.

Community Meetup - we are still looking for a proper platform, but whole infrastructure should be ready soon.

DAO

DAO Smart Contracts are in final development stage and should be ready for testing on testing network on Friday, 7.7.2017. We will deploy Contracts on the main Ethereum Network shortly after that.
For now, we decided to implement 3 different proposals beside regular elections:
- proposal to establish a new position/title within Executive Board,
- proposal to cancel a position/title within Executive Board,
- proposal for no confidence for already elected member of Executive Board

After deploying SC on Main Ethereum Network, we will also make next steps:
- prepare Dapp for more convenient interaction with DAO contracts, enabling all members to candidate and vote in a simple and straighforward way,
- claim and lock tokens for the development and DAO Funds,
- publish step-by-step instructions on the voting mechanism and overview of DAO structure.

DAPP

Distributed application is under development, we already showed you screenshots of the design. Currently we are working on BI and cutting the design, but whole thing should be ready before the election date, that is currently planned for the next month.

DAPP is going to have next mayor funcionalities:
- transactions
- locking and claiming (CreditBOND)
- voting and candidating (CreditDAO)
It is possible that these functionalities will be added with each version and not released alltogether in the first version.

CreditGAME

After deploying CreditDAO and DAPP we will soon push forward our CreditGAME contracts. We already prepared some games, but they must be linked with other SCs before the deployment.

Comments on other topics

Some people are constantly bringing up questions on Development Team identity, although we explained, that members of Executive Board will reveal their identity and lead further development and financing. Development Team is here to develop and not to bother with doubters. We are trying to publicly announce every step we make, making our project as transparent as we can. We are not getting any profit, Development Fund is going to be locked and only CreditBOND yields will be used for further development.

There are still some members desperatly asking us to repeat the migration. Migration is concluded.

Some members are asking us about the markets, "pumps", volatility, investment opportunities, internal information about development and exchanges. We have no intention to answer any of these questions. We have no power whatsoever to manipulate or influence the markets, except with our development. We are still in early stages of development and it is expected that the markets will go up and down, the exchange rates are dictated by the open market. Our responsibility is to include CRB token to as many exchanges as we can to establish maximum convertibility.

Please give us some space to deliver you DAO. We will give You all the power to candidate and elect the team, that will raise the visibility of this Token, create a new development roadmap, analyze the appropriate steps to drive our Token to the place where it belongs.

We are going to invite some of current Community members to participate in development and designing. ATM we can only promise the future reward from Development Fund (yield) in CRBs as the compensation for your work.

Dev Team

Hello Community,

let us explain some basics again, maybe we should repeat this more often:
1. CRB is a Token, a digital asset, deployed on Ethereum Blockchain as a Standard ERC20 Smart Contract;
2. Migration from old CRBIT coin is far over, swap is no longer possible, so please stop asking us to make an exception. This is technically not possible any more and you are just wasting our time.
3. Development Team cannot influence the market or trading, except with announcing news about development on public channels.
4. Our names are not public, due to harassment issues.
5. We explained CreditBOND on our website. Please do not misinterprate it with PoS. We even made in-picture examples: https://www.creditbit.org/tokenGuide.html

And why is CRB so cool (in our humble opinion)?

1. New concept of issuance - CreditBOND, where owners have to put some trust in the token to lock it for longer period and gain the inerests, similar to yields at bonds,
2. New concept of distributance - CreditGAME, where owners can compete for newly issued tokens,
3. Innovative decision process, fully integrated into the token - CreditDAO, that enables owners to participate in future decisions about our token and its development,
4. Advanced implementations of Smart Contracts, builing a whole ecosystem around the token - CreditIDENTITY, CreditBAY

We are delivering new stuff soon, hope you enjoy your vacation already

Dev Team

True, this percentage can change in a year from now. But I hope we explained some details about the owners-controlled issuance, enabled with CreditBOND.

Yes, every BOND creates up to 12% on a yearly basis, but locked CRBIT Tokens are locked during this period and cannot enter markets for trading. Taking into account, that only a part of investors are willing to lock their Tokens for a long period (1 year+), overall increase of Tokens in the circulation is expected to be much lower than 12%.  

April 22th:
11,870,283.08104604 CRBITs were migrated to CRB

Today (20.6.2017): Source
11,874,615.57683263 CRB

Increase in approx. 2 months:
approx. 4332 Tokens -> 0,0365% increase in 2 months -> approx. 0,22% yearly increase

Ethereum has yearly inflation rate in 2017 around 15%: https://blog.ethereum.org/2014/04/10/the-issuance-model-in-ethereum/
Bitcoin - approx 4,2%: https://en.bitcoin.it/wiki/Controlled_supply
But both currencies are not demanding to lock Tokens/Coins to gain BOND yields.

Still worried?

Dev Team

Technically, max coin supply is limited with some profound limits, like uint is written with 256 bits But I doubt this number will ever be reached.
But as others already explained, CreditBOND mechanism (locking) constantly expand the number of Tokens in the circulation.

Wallet maintenance? What wallet are you talking about? MyEtherWallet?

Thank you again for your questions.

An amount of ETH, needed for deploying Smart Contracts on the Ethereum blockchain, is negligible. Approx. 0,1 ETH was used for gas, we could check each transaction to get an exact amount. These ETHs we purchased ourselves. Future costs will be covered from the Development Fund, which is described in the Whitepaper.

We are also observing ETH price with bipolar feelings. Although gas price for transactions (including SC deployment) is adjusted with time, we are counting on that new versions of the Ethereum blockchain will enable charging fees in CreditBit Tokens (not only in ETH).

We are definitly developing custom features for CreditBit Token, but they still rely on the underlying Ethereum blockchain technology that enables storing and executing Smart Contracts.

Dev Team

Thank you for your questions.

We decided to migrate CreditBit to Ethereum blockchain in order to take advantage of advanced features. Smart Contracts, that can be stored on the Ethereum blockchain, enable development of complex business logic, distributed community and decision process, innovative distribution of issued tokens etc. Faster transactions are also a big advantage. We also don't need to establish and maintain our own network of nodes (servers) to confirm transactions.

Costs are separated into two groups. Development costs are significant, as all applications and Smart Contracts must be written from scratch. It is easy just to establish an ECR 20 token, while implementing custom features in Smart Contracts takes a lot of effort and time. There are 4 stages of Smart Contract development: designing, developing, testning and deployment. Designing is most time consuming, as it requires development of Smart Contract functionality, interoperability with other SCs and user scenario writting. Time consumed is directly correlated to the complexity of the SCs functionality. Writting Solidity code is somehow predictable, while proper testing is a matter of borderline cases that SC covers.

For the end users, gas fees are not so costly, but time consuming. Users were used to pay fees in CRBIT coins, now fees are charged in Ether. To create any transactions, it requires additional steps to purchase and deposit Ether for the transaction fees (gas).

If the ETH price rises significantly, it will have a negative impact on the transaction costs, as fees will rise accordingly. We haven't yet observed the correlation between ETH and CRB price, as we are still facing market stabilization of our Token. At the moment, CRB price is still greatly influenced by the development process. The development itself is not influenced from ETH value, but it is directly influenced by the technological development of the Ethereum network.

If you have more specific questions, we are glad to answer them.

Dev team

Read the official site, CreditBOND, CreditGAME, CreditDAO, CreditIDENTITY... there are many unique features, some already deployed, some under active development.

Bittrex added Creditbit (CRB)

We are proud that we joined to the prestigeous exchange!

https://bittrex.com/Market/Index?MarketName=BTC-CRB
https://bittrex.com/Market/Index?MarketName=ETH-CRB
 
Bittrex is the 4th largest online exchange in terms of trading volume, based in US. Becoming part of most diversified online exchanges (190+ cryptocurrencies and 800+ trading pairs) is a great honor and responsibility.
https://www.cryptocoincharts.info/markets/info
 
HAPPY TRADING!!!

Dev Team

Dear Community,

short update on the development:

CreditIDENTITY - DONE

CreditDAO - in short time we are going to deploy Smart Contracts on the mainnet, at the moment we are still testing some features.

DAPP - distributed application is nearly done, our designer is pixel-proofing the UI, business logic and connection to the Smart Contracts is in testing. We will post some more screens to give you the feeling about the progress.

CreditGAME - after the DAO is finished, we are going to push forward the game part. We have some simple samples already working, still solving some smaller issues with locking. Games should be available soon for public testing.

The DEV Team

Dear Community,

For those who eagerly await news, CreditIDENTITY is finally deployed on Mainnet. It is tested and live, ready to accept your personal data.

Here is the addy for CreditIDENTITY Smart Contract: 0xcFfff215c4c144c41827fb8959a1222e7D8a84A3

We are establishing dapp, that will enable a convenient way to interact with this SC. Once again, we will not publish a guide to interact with this SC manually, as the dapp should eliminate the need to interact with it from your wallet.

Dev Team

Dear Community,

we are working hard to develop all the Smart Contracts and CreditBit features that we promissed, here are some abstracts on our progress.

CreditDAO and CreditIDENTITY Smart Contracts are almost finished, due to interlacing of both we had to develop IDENTITY first. We also solved the financial part and testing the whole system. We will deploy contracts on testing networks today to live test all features. IDENTITY will probably be deployed on the main-net by tomorrow evening. We will post updates as soon as it happens.

CreditDAO Executive Board members will have some dedicated powers, so there is plenty of room for you, members of Community, to participate in the future development of CreditDAO and Community as a whole. Elections will be fired soon after the deployment of both Contracts on the main network, we will announce them to start the candidature.


Although this rather small and simple Smart Contract seemed like an easy task, we had to review our thinking process along the way.

Each user will be able to establish an identification Account, with several Ethereum Addresses attached to it. An account is also connected to several identification fields (name, surname, address...). This way, a person can disclose his identity and all Ethereum addresses that belong to him/her.

First question was whether to enable full identification of a person with several dedicated fields, or just basic identification with one big text field. We decided, that in a first version of CreditIDENTITY, an Account should only have max. 10 basic fields, but additional fields can also be added to extend the basic set. Each Address can also have a quickname.

Each identity account can attach unlimited number of Ethereum address to it, and this transaction is verified from the owner of the account and the owner of the Ethereum address (handshake principle), to prevent people to attach addresses, that don't belong to them, to their personal account.

Personal information will not be verified for now, but one address (the Facilitator/Administrator) will have the power to delete accounts in case they would contain insulting, threatening, misleading, offensive... information. The history of each account will be tracked, but the owner will be able to update personal information at any time.

To create a convenient way to interact with these Smart Contracts, we are going to create an application, that will help you to establish your accounts. Detailed information about how to do it directly from your wallet will not be published for now, as we find it inpractical to use Smart Contract this way.

Webpage is also updated: CreditIDENTITY


Have a little sneak-peak in our DAPP, how do you like the frontend? It is under active development, we are doing our best to deliver it soon after the DAO is published on main-net.







These Smart Contracts are even harder to think over. Developing must take into account several "human" aspects, like inactivity, resignation, incomplete applications, candidature, etc. We must also include features like rights transmission, mandate expiration, etc.
This is why most of these contracts have to be extensible, upgradable and flexible. Most probably first version of both contracts will not cover all requirements, also probably some will emerge after the practical usage of the DAO. We are planning to start with developing version 2 of both contracts right after the deployment of the first version. We avoided some quite neat features in the first version, that would require just to much of our time.

First elections for the Elected Commons will start really soon, they should be over by the end of July, if no obsticles will occur. There are still many problems to tackle, as distributed application is also developed in parallel.

Executive Board with all subfunds will be generated at once and filled with CRBITs that were created and locked at the migration. After the elections of the Elected Commons and consequently the elections of Executive Board, the right to manage these subfunds will be granted to EB members.

We would like to stress again, that all candidates for EB will have to reveal their identity with CreditIDENTITY, personal data will be verified by the Community to guarantee that it represent a true person. We would like to attract trustworthy, technologically versed and regognizable persons to candidate for the place in the EB.

So, keep your shorts on, because the DAO will be released really soon after the IDENTITY!!!



We are short of time to push forward this meeting at the moment, but we are most definitely going to create this event as soon as both Smart Contracts are deployed. Probably in next 2 weeks we will announce the themes/subjects and the channels.


Last days the price spiked again, but generally it is stabilized and is showing a positive trend again. We are doing our best to join some other Crypto exchanges but sadly they also have some technical problems with new Ethereum Tokens.

Meanwhile, average of 400.000$ worth of trading is executed each day in the exchange markets and rising. Our plan is to reach 1M$ of a daily trade till the election of the Executive Board.

There has been a lot of positive media coverage about the project just to show you some of the articles:

https://cointelegraph.com/news/democracy-on-blockchain-how-creditbit-engages-community-to-co-create
https://vid.me/Lq5o
http://www.newsbtc.com/2017/05/19/creditbit-price-technical-analysis-crbitbtc-started-consolidating/
http://www.newsbtc.com/2017/05/18/creditbits-finalized-white-paper-unveiled/
http://newsbitcoin.info/creditbit-price-technical-analysis-crbitbtc-double-top
http://fintechist.com/finalized-creditbit-white-paper-released/
http://www.livebitcoinnews.com/creditbit-updates-website-creditgame-information/
http://fintechist.com/never-overlook-creditbits-crb-token-investing-digital-assets/
www.newsbtc.com/2017/05/12/creditbit-community-expands-price-hike-speculations-rife/

Yours,

CreditDev team

Hello Community,

quick review of what is going on at dev team:
1. We are finishing Smart Contracts on CreditDAO and CreditIDENTITY. First version of both will be simplified to avoid complex voting processes and management of rights
2. Web page will open last tabs with desccription of both features soon
3. Dapp design is in final stage, we will be able to show some more screenshots soon
4. CreditBAY is under concept development

Soon we will post some news on all these topics.

Dev Team