CreditBit is an ethereum based smart, low-cost, swift and decentralized digital token. Ethereum tokens are extremely quick to transfer, at low cost and are not subject to a central authority. These factors help in making Creditbit a better alternative for the two main crypto players, Bitcoin and Ripple.
Many new investors may not be aware of the problems plaguing the two cryptos. Bitcoin is facing serious network congestion issues, so much so that over 200,000 transactions are awaiting confirmation.
While Ripple’s shortcoming is that it is more like a central remittance tool for bank-like payment networks rather than a miners’ coin. It lacks the typical decentral character of other digital currencies. On the other hand, Ethereum tokens are truly democratic forms of contracts, tokens and currency.
With this edge over other cryptos, Creditbit is aiming for Asian expansion. CreditBIT offers advanced smart contract options that go together well with the Asian life-style. CRB payment transactions are cheap and fast. Moreover, with its CreditDAO platform, its Proof-of Trust CreditBOND locking with up to 12% annual bond reward and the upcoming JAXX wallet adoption, CRB offers all the ingredients to be an easy, affordable and gratifying alt-coin for the South Asian market.
With an increased influence of Asian markets on the crypto currency economy, Creditbit understands the importance of dabbling in Asia. Digital currencies, for a fact, are very popular in South Asia. Since April 2017 the Japanese can even use Bitcoin as a legal method of payment and set the trend for many other countries to follow.
Yet, it is not just in China and Japan, where the interest in digital currencies is growing rapidly, but also in India and South Korea. The South Korean Won (KRW) forms the top ETH- pair, even before Euro (EUR) or Chinese Yuan (CNY), when looking at the top 10 of the Ethereum market places on the CoinMarketCap list.
One of the features offered by CRB that can help it in the Asian market is CreditGAME. With CreditGAME players can anonymously compete in 1-to-1 games for their CreditBOND reward. CreditGAME initially will have two P2P games, Lotto and Minesweeper, but Jenga is already on the way and many more games will be added in the near future.
Moreover, the democratic character of CRB development and the CreditDAO and the possibilities of the Ethereum smart contract technology makes CRB much more than just another investment-hype for ‘not-so-smart money’. A compelling proof of which is the public support of CRB has been getting, which includes support from Bitcoin Foundation founding member Charlie Shrem, or the CRB-listings on even larger exchanges and the JAXX wallet adoption soon to follow.