FAQ PAGE

Answers on questions


What Is C168 Platform?

C168 platform is a decentralized financial system for direct interaction between participants on a peer-to-peer (P2P) basis. The platform allows delivery of financial services via a distributed ledger, self-executing smart contracts, and C168 cryptocurrency. The system aims to bring all participants onto one site, providing them with a platform for creating and using financial services, where everyone can both offer and use services. With a well-defined and balanced technology design, the C168 platform offers a new technical solution and a new conceptual model Of networking participants' interactions to develop modern decentralized financial services.


What Are The Main Principles Of The Platform?

C168 platform has its own unique features built on the principles of blockchain technology: a public decentralized ledger/storage system, presence of the independent nodes, the consensus model, the internal cryptocurrency C168 etc. The platform does not have a block system like Bitcoin or Ethereum do.


What Distinguishes Your Platform From Others?

Nearly everything. We have developed a very unique architecture including ledger, new consensus protocol, new advanced full smart contracts, saving transactions, transfer transactions and more. This allows the project to achieve a level of performance that is unattainable by other platforms: our speed of transaction is as low as 0.01 seconds and the total number of operations can exceed 1 million per second at a low transaction cost.


C168 Platform Uses Open Source Software?

Yes, the development of the platform is completely open source.

Is The Platform Mining Coins?

No. Additional token releases will not be made after ICO. In the future, ERC20 standard tokens issued at ICO will be exchanged on a one-to-one basis with C168 platform cryptocurrency.


For Whom Is Your Platform?

The platform's target audience is highly diverse: banks and financial organizations; payment and online services; Internet of Things (IoT) applications created on the basis of blockchain technologies; smart contracts; and cryptocurrencies and fiat money, which require high-speed (a few seconds) and low-cost transactions.


Why The Financial Industry?

The financial industry requires high-speed processing and low transaction costs above all else. These attributes enable shopping, payments, transfers, exchange, and much more. However, C168 can be used not only for financial transactions, but also for other industries for which the speed and price of the transaction (e.g., IoT) are necessary.


Did You Develop A Platform For Individuals Or Businesses?

Developers, companies, and users who want to create online services. The platform is developed as an application for B2B businesses, but can also support B2C and C2C applications.


Will You Create Financial Products?

The C168 team will actively develop, maintain, and promote the platform. Accordingly, the team is committed to increasing the number of users and helping with implementation of new applications. The CREDITS team will not independently develop products for end users, such as P2P applications, online lending, funding, etc. The main task of the team is to create and foster the C168 platform to serve multiple industries and applications, including the financial industry.


Who Is The C168 Platform Best Suited To Serve?

We believe that financial services are in the early stages of utilizing blockchain technologies, as many existing blockchain platforms fail to address their primary concerns (slow transaction processing speed and high transaction fees). Additionally, existing blockchain platforms lack the essential functionality necessary to build financial services for the blockchain system, namely: personalization, KYC requirements, and credit histories. These issues are all solved by C168 platform.


How Will People Use It?

C168 platform is designed to be highly flexible. It can be used to perform most "obvious" blockchain functions (e.g., currency, store of value, etc.), but can also be customized for applications that the team can't yet imagine.


Where Is Your Company?

The C168 Foundation, which is located in Singapore, was created for the development of the platform. After the completion of development and release of the platform, the C168 Foundation will be the sole and official representative of the platform.


How Will The C168 ICO Work?

C168 ERC20 tokens will be sold and stored on the Ethereum platform. After the release of the platform (scheduled for 2nd half of 2018), the ERC20 standard tokens issued via the ICO will be exchanged for C168 cryptocurrency, which will be the only payment currency of the platform.

How Many CS Tokens Will Be Available?p>

ICO initial supply is 1 billion tokens; however, tokens not sold by the end of the ICO period will be destroyed.


When Will C168 Tokens Appear On The Exchange?

Within a few weeks of the end of C168' ICO, the ERC20 standard tokens will appear on a number of exchanges.


How Can I Participate In The Purchase Of C168 Tokens?

On the official --insert your website domain here-- website during the ICO period you will need to buy ERC20 C168 tokens and have an Ethereum based wallet.


Is it planned to conduct a pre-ICO?

Yes.