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Major announcement: the Credo Blockchain is now open source

January 3, 2019

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Major announcement: the Credo Blockchain is now open source

As we begin 2019, I’m thrilled to announce that our new Credo Blockchain’s software is now open source and available on GitHub here.

High-performance infrastructure

We decided to build this blockchain after we found Ethereum (which is great for other use cases and efforts are underway to resolve the issues we encountered) unsuitable for performing paid-email-authorizing payments for BitBounce Ads due to low transaction throughput and high transaction costs.

Our initial aim has been to develop a blockchain that can function as high-performance infrastructure for transactions in the attention market we’re creating with BitBounce and BitBounce Ads.

Foundation for an Ecosystem

We also see the potential to use this technology as a foundation for an ecosystem of third-party, Credo-hosted tokens. These projects will generate additional demand for our advertising and exchange services, and therefore increase earnings for our paywall users.

The previous generation of application ecosystems were built around mobile operating systems, namely iOS and Android. We believe that the next generation of application ecosystems are instead forming around public blockchains, and we intend to build Credo into a leading platform for this new era.

State of Development

The current version of our software has all of the necessary functionality to operate a blockchain network. However, an additional period to further test, refine, tweak, and optimize the node software will be necessary before we launch the mainnet.

Our next steps technically include the following:

  1. Increase test coverage
  2. Perform additional stress and penetration testing on the test network
  3. Implement NAT traversal (p2p networking related improvement)
  4. Add the wallet UI
  5. Various minor improvements (e.g. additional validations)

Contributing

BitBounce’s CTO, Oleg, and I have co-authored the software so far. If you are a developer, we would welcome your contributions to the project. We plan to establish a sizable contributor base in time, and will source new engineering team members for BitBounce from contributors to the project.

Our development process will be quite informal to start with. If you discover a bug or have a feature request, just open an issue for it if there’s not one already. If you author some contributions, please open a pull request from a forked repo; Oleg and/or I will review and decide whether to merge the changes. As the project matures, we may implement a more formal development process involving improvement proposals.

License

Please note that our blockchain software has been published under a relatively restrictive license that prohibits its use for the operation of competing blockchain networks, and retains all rights for our company (Turing Technology, Inc., d.b.a. BitBounce). We plan to relax the terms of this license over time, but would like to mitigate any distracting or resource diverting forks in the near-term.

Trust & Transparency

Open sourcing this project will increase the trust of ecosystem participants in the system as they use and rely on it as a new basis upon which to conduct economic activity. Whether you’re considering participating in our ecosystem as a miner, developer, token owner, advertiser, paywall user, or evangelist, I invite you to review and contribute to our open source project to help shape it into a platform for tomorrow.