Creditbit is a digital encrypted currency which is decentralized. It was created in Dec 2015, which is migrated to a new Ethereum Blockchain, currently. It can be held and exchanged between the Ethereum digital wallets. Every wallet is represented by the special combination of the private key and the public key.
1. Smart contract
The smart contract is a series of rules of Creditbit token. Besides the balance and the transaction, there are many other features. The most significant feature is Proof of Trust, which is a locking mechanism. This mechanism allows the token owner to take part in the distribution and voting of the tokens that are issued.
2. Self- locking
The issuing of this currency does not pass the management of the central organization or the central bank, but the management of the process of self-locking. Every owner has the chance to lock parts of the token for a period of time and win the rewards, which is similar to the income from investing bonds.
Creditbit price to USD hit the highest at 2.96 USD on Apr 13th, 2017. From Jan 2017, the price began to rise and fall.