Can The Blockchain Work Without Miners?

Many crypto users and newcomers to the crypto market believe that the blockchain and the mining process are indivisible. But can the blockchain function without the miners? Let’s find out.

The blockchain technology can now work without miners thanks to the new CREDITS platform. With mining as you all know, people can make money, transactions are checked, and emissions distributed and so on. But mining is not ideal.

Mining takes a lot of time. It takes hours to test a transaction and then add it to the chain. For example, one bitcoin transaction takes from 1 to 40 minutes to be done. It is also expensive. As the network grows, more time and more computing power is required. This will lead to a drastic increase in the cost of the process. The blockchain with mining is not really ideal for a system that should record millions of transactions, therefore it offers poor scalability.

Basically, it is possible to erase these disadvantages and at the same time to keep all the good qualities that the blockchain has to offer. As we mentioned before, there is a new project that offers some great opportunities for the blockchain and its name is CREDITS.

CREDITS is an open blockchain platform that works without mining. It’s very cheap, commissions cost $0.001, and it has increased speed to 0.1 seconds per operation. Also, it allows more than 1 million transactions per second. Users now don’t need to spend a lot of money to buy expensive mining equipment. This is just a brief summary of that CREDITS can do.

For maximum performance, CREDITS uses its own consensus protocol based on DPoS and BFT. This is a great example of how the blockchain can exist without mining. It’s a new, unique technology with a lot of advantages so it’s best to keep an eye on it.