Creditbit has been making waves in the crypto community for a while now. The open source digital currency platform based on an MIT/X11 license is touted to break into the top ten alt coins if it stays on course with current growth rate.
Creditbit has seen an upward price movement since December 2016 and its current market cap is $4,316,126. There have been some ups and downs but the price rise of the cryptocurrency is conspicuous.
The Creditbit community is excited about the developments unfolding as a part of Credit 2.0. There is positivity among the coin holders for the future of the currency. As has been gauged from the community discussions on Bitcoin Talk, the followers believe that the crypto currency is only set to gain in the future.
Following the recent update by the Creditbit development team, there is a general sense of excitement over the project and there are also available the testimonies of new coin holders on the forum.
The recent update covered two topics: Distribution Mechanism and Bounty for Promoters, and was titled ‘Show CreditBit your Trust’, clearly establishing the community as an integral part of the development plans.
One of the major highlights of the update was its discussion about the Proof of Pawn/Trust Distribution Mechanism.
The Proof of Pawn or Proof trust is a concept which again brings the community at the centre of everything as the term ‘Proof of Pawn/Trust’ itself is up for public vote. Creditbit wants the community to vote on what to use from ‘pawn’ or ‘trust’.
The community will be involved in the minting of new tokes under Proof of Pawn/Trust. The community will be able to vote for predefined proposals on how many new tokens will be minted and distributed in next time periods.
The recent update again highlighted the importance of community for Creditbit and therefore has created an excitement among the community about the future of the project and also has attracted new followers. And if Creditbit keeps up the adoption rate, it could be a likely contender for the top 10 cryptocurrencies spot.
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