In my opinion, the developers of Credits claim too great capacity for the project. They say that significant level of performance of the registry will be reached, but they also say that there will be a high degree of security. Technically, its simply impossible)
This isnt impossible if one uses the registry database with the formation of the Merkle tree from the hash of the previous block and transactions result. Credits Developers also offer their own unique registry structure in which the Merkle tree wont be formed.
