The recent upward momentum of Creditbit price is causing excitement in the community. The price surge seen is unprecedented and is attracting more and more people towards Creditbit.
The volume of the currency tagged as the ‘Future of Money’ for its rapid adoption and development is $95,934 (24h) and the current market cap is $3,226,152. Right now, Creditbit is one of the faster growing digital currencies in the cryptocurrency segment.
Creditbit is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
Launched in 2015, Creditbit follows the decentralized model like many other digital currency platforms to revolutionize the monetary system. With the platform, Creditbits ultimate goal is to reach out to every individual on the planet, offering them banking and financial services over the blockchain.
Initially people speculated that the jump in volume to almost $300k on Tuesday and finally to $95,934 currently was a short term increase. Some believed that it was only due to the addition of Creditbit to Novaexchange that had caused the price spike. But the consistent upward graph of the coins has even the most skeptical traders excited now.
Novaexchange alone is witnessing a volume of $70,142 and the price $0.299076 (CRBIT/BTC). The second highest volume (24h) is at Cryptopia at $14,676 and the price is $0.155653, which has surprised some people.
Creditbit has recognized the challenges faced by Bitcoin and implemented the changes to prevent such issues from repeating on their platform. The block generation time for Bitcoin protocol is 10 minutes, which has significantly increased the time taken to confirm transactions. Also, the rate of transactions processed by the Bitcoin protocol is also less due to the same issue.
Creditbit has prevented such issues from happening by making it capable of processing transactions ten times faster than the Bitcoin network. The time taken for an average Creditbit transaction to be confirmed is less than 30 seconds, making it the world´s fastest digital currency
Disclaimer: Live Bitcoin News does not endorse this publication, not any of its members are associated with it. Readers are recommended to research on their own before making any investments in any company.
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