Hello friends, this time I will discuss or review a little about a very great and extraordinary project this year, and hopefully by reading this article, we can get a little idea about this project. And this project is Qwertycoin. Qwertycoin is a real decentralized Cryptocurrency community, because the cryptocurrency and blockchain industry is growing rapidly in 2020. The top two assets are: Bitcoin (BTC) and Ether (ETH). Whereas Cryptocurrency itself is a project that will become a source of decentralized funding in the Cryptocurrency world community. For more information, you can directly contact this link: https://qwertycoin.org/
About Qwertycoin
Qwertycoin (Ticker: QWC) is a real community cryptocurrency, a decentralized digital asset, like Bitcoin. It is based on CryptoNote Technology V2.0. Nobody owns or controls Qwertycoin. It allows anonymous and trustless peer to peer transactions through a fair ASIC-resistant PoW mining algorithm and will implement EPoSe, a new algorithm concept exclusive to QWC.
Vision
- Reliable and easy to use/user-friendly blockchain service
- Decentralized development from crowd efforts and funding
- Privacy protection for the members of its network
- Abundant supply to allow a fair distribution among a large number of members
- On-chain privacy
- On-chain voting
- On-chain trading
- Genesis Reference Block
- Only eight decimal places
- Fast transactions
- User-centric developers
- Encrypted Blockchain Messenger
- Easy to mine and fair rewards
- Easy to use
- Amazing community
- Development of User-Friendly Wallet Software for Desktop/Mobile Computers, Web and Mobile Phones
- Q-Life app with chat + wallet + crypto exchange + store locator
- Robust Network (< 50 PPM Blockchain Split) with Blockchain/Network Monitoring Tool for all users
- Network Explorer feature that allows monitoring of blockchain
- User Population over 1 million
- E-Commerce/Woo-Commerce Integration + Local Stores as Fiat Exchange
[Figure 1. Total QWC in Circulation per Bloch Height]
[Figure 2. Total QWC in Circulation per Date]
How to Get Coins [Mining]: Egalitarian Proof of Work (EPoW – Cryptonight Based Variant)
The word egalitarian stands for providing equal rights and equal opportunities. QWC network is an open source and is driven by community members. Anyone can join and support the network and get coins as compensation to their support through mining. Cryptonote Technology V2.0 has a built-in block reward system called emission rate. It is a shape of log function and, because of its original design, QWC block rewards will reduce by each block found and eventually reach a point called ‘tail emission’. QWC has an emission factor of 19. Please refer to below graphs to see how block rewards are reduced over time.
[Figure 3. Block Reward Reduction per Block Height]
[Figure 4. Block Reward Reduction per Date]
History of Mining Algorithm Changes
Transition from EPoW to EPoSe in QWC Network
As with any other blockchain technologies, QWC block height will increase over time, which also results in the blockchain data file growing continuously in a linear trend. With block time of 120 seconds and 1 MB block size, QWC blockchain size can increase close to 4 TB at 99.95% QWC circulation rate. Even after considering the storage capacity of consumer PC market is currently averaged at 500GB, the size of full blockchain data can be a problem for new users of QWC blockchain. Eventually, the users of desktop wallet software are expected to connect their wallet software through remote nodes to reduce the percentage of their local hardware resource usage, while having an option to download the complete QWC blockchain data and sync in their local computers.
QWC team also realizes that
- block rewards against energy consumption for EPoW mining process will become inefficient for the network and harmful to our environment in the later stage of QWC blockchain.
- mobile wallet application will require remote nodes (without downloading blockchain file) for transactions.
[Figure 5. Blockchain Size per Block Height]
[Figure 6. Blockchain Size per Date]
One of the major challenges QWC members needs to consider for this algorithm transition is a heavy market correction arising from excluding existing mining population from the network, because EPoSe [Masteronde] algorithm does not allow more profits by providing a high hash rate. The appropriate timing for this transition is to be decided by the community members. In this paper, proposed timings for this change are provided in Table 1 for our members to make informed decisions.
[Figure 7. Block Reward Reduction up to Block Height 2,000,000]
How to Get Coins [Masternode]: Egalitarian Proof of Service (EPoSe – QWC Original)
Again, the word egalitarian stands for providing equal rights and equal opportunities. It is free to run a QWC masternode since node reward program does not offer a staking option for providing a node. In order for nodes to receive rewards, a node must be configured and used as a remote daemon in wallet software. Based on the number of transactions processed in remote daemon connections, Maximum 10 QWC is rewarded per transaction. [June 29th, 2018]
QWC nodes perform following tasks in the network.
- Holding transactions in the memory pool so that a miner can find a block with a group of these transactions
- Verifying one-time ring signature of entire blockchain
- Validating correct blockchain during a chain split from PoW
- Propagating validated blockchain to all daemons running in our network
- When blockchain size increases, it will take more time to synchronize with the network since desktop wallets are mostly not online.
- Mobile wallets will always use a remote daemon feature since the data itself is quite
- EPoSe is based on the concept of dedication in terms of conformance and performance of nodes to provide node functions to QWC network. It features is a reward program for node operators based on dedicated service time (Uptime).
There are 4 components to make EPoSe work.
- Nodes, run by network participants
- Sentinel, which checks the status of nodes periodically filters nodes based on conformance and performance criteria
- Node Map, which shows geographical information of operating nodes
- Network Explorer, which displays the network status of node and detailed information.
EPoSe reward system has following features:
- Rewards: accumulated transaction fees, which has been traditionally awarded to miners, are switched to node operators. Depending on the current operation costs of nodes, this reward scheme will be adjusted when deemed necessary.
- Reward Period: 24 hours UTC time
- EPoSe algorithm functions just like mining but provides infinite rewards throughout the lifetime of QWC blockchain without causing any inflation.
It is important to inform our members that your registrations on exchange platforms with personal information such as ID and bank/credit card accounts will/can expose your identity and your actions and outcomes from trading activities can be subjected to applicable laws and regulations.
Listed Exchanges
- Crex24/Estonia – Funded by QWC Team [BTC]
- BitexLIVE/Turkey – Funded by QWC Team [BTC (when QWC > 1 Satoshi) / DOGE]
- Fedlio/Singapore or Seychelles – Funded by QWC Team [ETH / BCHABC / DASH] – Warning for withdrawal issues!
- Bisq/Decentralized – Promoted by QWC Team [BTC] – Requires Activation Cost.
- Bituan/China – Promoted by QWC Chinese Community [USDT]
- Citex/Korea – Promoted by QWC Chinese Community [BTC / ETH / USDT]
- QBTC/China – Promoted by QWC Chinese Community [CNYT]
- Tyche/Unknown – Promoted by QWC Team [ETH / USDT / DOGE / TEX]
- Altilly/HK – Funded by QWC Team [BTC / ETH / DOGE / XQR]
- BKEX/China – Promoted by QWC Chinese Community [BTC / USDT]
- GJ/China – Promoted by QWC Chinese Community [USDT]
Basic Coin Specifications
- Coin Name: Qwertycoin
- Ticker: QWC
- Type: 0% Premined Decentralized Community
- Cryptography: CryptoNote V2.0
- Proof Type: EPow (Egalitarian Proof of Work)
- Mining Algorithm: Cryptonight
- Difficulty Algorithm: CIMA + CLIF, Adjusted every block
- Blocktime: 120 seconds
- Tx Hash: Instant
- Required Confirmations: 10 confirmations
- Total Number of Coins: 184,467,440,737 QWC
- Coin Decimals: 1/10000000 (0.00000001)
- QWC Block Reward: Decrease by each block
- Dev. Language: C++
1. Stage 1: Currency Application Development (2017 – By the end of 2018)
- Daemon Development and Optimization
- CLI Wallet Development and Optimization
- Desktop Wallet Development and Optimization
- Mobile Wallet Development and Optimization
- Commerce Integration Development
- Invitation/Integration of Existing Commerce Applications
- Commerce Integration Optimization
- Local Fiat Exchange Commerce
- Patches and Updates for All Software
- Search Engine + Desktop/Web/Mobile Wallet
- Web Services + Web/Mobile Wallet
- Mobile Apps + Web/Mobile Wallet
- Activation of Local Fiat Currency Exchange (Stores)
- Alex - Founder & Lead Developer
- Xecute - Team Lead & Finance Officer
- Dennis - Exchange Communication
- Jordan - Previous Webmaster
- Jeff Lee - IT & Infrastructur
- Jeka - Co-Founder, former Developer
- Pascal - System Administrator
- ghostx1x - Design & Graphics
- Paul Oliva - Author
- ExploShot - Mobile Developer
Thanks
Cryptonote Developers, Bytecoin Developers, Monero Developers, Karbo Developers, Masari Developers, Turtlecoin Developers and Qwertycoin Community
To learn more about us, check out our links:
- Webpage: https://qwertycoin.org/
- Github: https://github.com/qwertycoin-org/
- Bitcointalk: https://bitcointalk.org/index.php?topic=2881418
- Whitepaper: https://github.com/Xecute0101/QWC-White-Paper/blob/master/QWC%20White%20Paper%20V1.0.pdf
- News & Blog: https://qwertycoin.org/blog/category/news/
- Block Explorer: https://explorer.qwertycoin.org/
- Mining Pool List: https://explorer.qwertycoin.org/#pools
- Node Map: https://nodes.qwertycoin.org/
- Faucet: https://faucet.qwertycoin.org/
- Community Voting: https://voting.qwertycoin.org
- Web Wallet: https://myqwertycoin.com
- Twitter: https://twitter.com/Qwertycoin_QWC
- Facebook: https://www.facebook.com/422694361519282
- Facebook Marketing: https://www.facebook.com/QWCMarketing
- Reddit: https://www.reddit.com/r/QWERTYCOIN
- Telegram Community Channel: https://t.me/qwertycoin
- Telegram Support Channel: https://t.me/qwc_support
- Discord Community Channel: https://discord.gg/U5amwCs
- Foundation Twitter: https://twitter.com/qwc_foundation
Profile : https://bitcointalk.org/index.php?action=profile;u=2103066
QWC Wallet Address : QWC1UZvejjtGLAvW6ZrcBLba1S6CSGanRagXJYuRYUiBDsXrbsXfVdkfahdGK7EsmkC3iGvyewUZvitTU8gRgq3x9d2q64hXN7
No comments:
Post a Comment