Initial Credit System Implementation: The first version of the credit system has been implemented, which provides basic spam protection and incentives for masternode owners. Every data operation (i.e. state transition) processed on the platform has a fee denominated in the form of a platform credit. Developers can spend credits by funding an identity using a Layer 1 (core) transaction with a rate of 1 satoshi equaling 1000 credits. Fees are currently determined by the size of the state transition, where 1 byte of data costs 1 credit. At the moment, data operations typically cost somewhere between 600–1000 credits. Fees are collected and sent to a distribution pool, where they will eventually be distributed to masternodes as compensation for hosting platform services. In later versions, we will make more improvements to the credit system and specific details will be revealed in an upcoming blog post.