Established in December 2015 as a Bitcoin-like coin was recently migrated on a new Ethereum Blockchain. It can be held or transacted between Ethereum digital wallets, each represented with a unique combination of private and public key (ex. Mist, Ethereum Wallet, MyEtherWallet, Parity). Technically, Creditbit is a digital Ethereum Token, that hosts on the Ethereum Blockchain, a public distributed digital ledger.

In practice, Creditbit can be exchanged and transacted between Ethereum addresses (wallets), that are managed by their owners. Moreover, Smart Contract, a set of rules for the Creditbit Token, holds many other functionalities than just a balance and transactions. One of the most prominent functionalities is Proof of Trust, a locking mechanism, that enables Token owners to involve in issued Token distribution and voting.