Kredits started life as a community initiative to improve KGH (Kwagsh) and reboot the project with a rebranding and new direction. The process was formalized on September 5th, 2018, with the inauguration of the project's community forum as a platform for stakeholders to decide by consensus and vote on proposals for a new name and logo. In the following months, volunteers established seed nodes, an alternate block explorer and mining pools to maintain the project's ecosystem in preparation for its relaunch.
During a one-month registration process which was opened on December 15th, 2018, existing KGH holders were invited to swap KGH for new XKR at the rate of 10 KGH per 1 XKR. A potential max amount of 93,173,294,340 KGH could be claimed and by community consensus it was decided that unclaimed coins would provide the initial funding for the Kredits XKR Community Growth Fund in order to finance development of the project's next phase.
Coin Swap completed
Upon successful completion of the KGH:XKR 10 to 1 Coin Swap, a total amount of 44,226,106,381 KGH had been approved which were swapped for which were swapped for 4,422,610,638 XKR; burning approximately 40 billion coins in the process and reducing the amount of coins in circulation by 90%. Instead of a premine, the Genesis block of XKR minted one-tenth of the already-mined coins of its origin project, KGH, to comply with the 10:1 swap ratio.
Full public-facing website at https://kredits.cc and launch of the Kredits XKR "2020 Vision" - a detailed project roadmap for 2019, 2020 and beyond, in parallel with the simultaneously ongoing core development and further implementation of Kredits XKR testnet in preparation for stagenet and mainnet launch.
XKR Mainnet Launch
With the release of version 1.0 of the Kredits XKR platform, "Amazing Alligator", the mainnet goes live for mining and transactions based on a Monero-evolved codebase providing best-of-breed privacy and introducing ongoing miner contributions to the Community Growth Fund. This launch is released with Open Source CLI wallets simultaneously for Windows, Mac and Linux.
The Kredits XKR Whitepaper presents Kredits Core Innovation: Mobile-First, seamless and accessible transaction privacy, lighter and easier crypto onboarding, volunteer-governed Community Growth Fund with open and transparent support of development as well as prioritizing key roadmap objectives including "pay-it-forward" and stablecoin features.
Kredits GUI Wallets
Support is added for graphical integration with the additional release of GUI wallets simultaneously for Windows, Mac and Linux. CPU- and GPU-mining is possible from within the wallet itself, in addition to mining through the already-existing XKR mining pools. As with other core releases, the codebase is entirely 100% Open Source and will always stay that way: The code is available on Github for code inspection, issues and pull requests.
The web-only wallet option makes Kredits XKR even easier to use without the need to download and install any software at all. In keeping with the Mobile-First philosophy of Kredits development, the webwallet functions as a smartphone wallet as well until the launch of dedicated XKR Mobile Wallet apps for Android and iOS.
Through a listed BTC-XKR pair, you can buy and sell Kredits on our first partner exchange. During its growth phase, value fluctuations are normal and acceptable, however, with the introduction of platform release version 3.0, Kredits XKR will adopt a set of stablecoin features in order to anchor its price and minimize exchange rate volatility. It is expected that XKR will be included on CoinMarketCap.com and other pricetracking indexes shortly after its initial exchange listings.
Forget long and confusing numbers for addresses or QR codes that ony machines can understand: With KreditsKontacts, email addresses and social media IDs double up as wallet address identifiers and lets users send crypto to any email address in their contact list. As a component in achieving network effect, the wallet alias feature is launched in advance of the viralizing "pay-it-forward" onboarding strategy incorporated in release 2.0, "BrilliantBeaver."
With the release of the first Kredits Mobile Wallet apps for both Android and iOS, crypto comes to your pocket and goes everywhere you go. Forget about complicated downloads and blockchain addresses no one can remember. With Kredits XKR, cryptocurrency is for everyone: The easy-to-use wallet sits on your phone and integrates with apps you already use. The app lets you send and receive crypto payments just by looking up your contacts or adding new ones.
With "Brilliant Beaver", the second release of the Kredits [XKR] platform will add account ID chaining and a "pay-it-forward" onboarding feature to facilitate network growth and enabling dynamic on-the-fly account creation for new users in realtime. Account ID chaining makes Kredits XKR transactions as easy as emails and texts and also integrates KreditsKontacts into all versions of the existing XKR wallets.
The third release of the Kredits [XKR] platform, which is known as "ConsistentCamel", brings the addition of new stablecoin features to Kredits XKR through a hybrid Currency Board model underwritten by the XKR Community Growth Fund. Stablecoin features facilitate enhanced use-case adoption, making the coin a safer store of value and a more reliable medium of transaction due to exchange rate stability which is managed as with a fixed target value within upper/lower bands.
The fourth main release of the Kredits [XKR] platform is called "DecentralizedDolphin" and extends the stablecoin features introduced with "ConsistentCamel" by both tightening the sliding upper/lower bands and simultaneously decentralizing the management of the fixed XKR value to a resilient network of counterparty vaults formed by stakeholders each maintaining complimentary asset baskets under the hybrid Currency Board model. This release adds resilience to the stablecoin features, which in turn incentivizes the use of XKR in P2P, P2B and B2B commerce as well as solidifying XKR's position as a reliable store of value.