Bitcredit an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcredit uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.
Bitcredits project is focused on the currency aspect of crypto currencies, the developer favors advances in usability and simplicity to maximize adoption, already the currency has a small and growing loyal community. Unlike many coins, Bitcredits is based of the very latest Bitcoin source code and incorporates the very latest advances in the original codebase, while built from that point to be a cpu coin, Bitcredits always stays abreast of the latest cutting edge advances. By using the memory heavy algorithm MOMENTUM Bitcredits encourages the expenditure of resources on community service building and expansion of the project rather than starting another arms race.
Bitcredit was launched on December 17, 2014 as BitCredits. It is a variation of Bitcoin that utilizes memory hard algorithm Momentum that was first used by ProtoShares. As a pure Proof of Work (PoW) crypto currency it issues Bitcredits to miners who solve blocks as a reward for helping to secure the blockchain.