Credo (CREDO) is a cryptocurrency designed to integrate email access with existing email accounts and infrastructure seamlessly. On the Credo platform, senders can create an email market for sending emails to customers, and users can charge a premium for receiving unknown emails. By doing so, the platform aims to protect the developers against spam email messages.
According to its whitepaper, existing policies and technical solutions face high costs and externalities for eliminating anonymous email and spam. Email access via introduction is inefficient because it relies on unstable social capital transfers and needs senders to maintain a social channel to the receiver in their network. These email issues create major negative externalities and an inefficient exchange mechanism for email access. Thus, the Credo platform aims to solve email spamming by establishing a new market for email access wherein senders may pay a fee for an email to go through or receive a response.
The platform seeks to implement a fee-charging solution through two components, i.e., BitBounce and Credo. BitBounce helps in filtering the emails of anonymous contacts and payment mechanisms. Meanwhile, Credo serves as an additional purpose of incentivizing adoption and continued use of BitBounce solution. Backed by Ethereum blockchain, the platform aims to scale Credo transactions with the help of blockchain sharding. Sharding is the process that splits the blockchain's entire network into smaller portions known as a shard, making it distinctive and independent from other shards.
CREDO is implemented as an Ethereum-based token that follows the standard of ERC-20. CREDO is also a deflationary token due to the smart contracts that do not allow new CREDO tokens' minting. Besides this, users can use CREDO for purchasing the following:
