QI Blockchain - One of the most Advanced Blockchains in the world

cryptoinmind (30)in #qi • 2 years ago

Overview

In response to the 2008 global financial industry crash, a person, or an entity, named Satoshi Nakamoto developed a protocol for a peer-to-peer electronic cash system. That protocol became the foundation for distributed ledgers called blockchains. Blockchain is a bit like a global spreadsheet or ledger. A blockchain allows a person to safely send money to another person without going through a bank or financial services provider. From a business perspective, it’s helpful to think of blockchain technology as a type of next-generation business process improvement software.

The Blockchain network appears to be accelerating in terms of economic development at the moment. The innovation that was established in 2009 to help Bitcoin is now a dominant technology. Blockchain has applications in a variety of industries, including health care, the judicial sector, supply chain, and logistics, to name a few. Blockchain-based apps enhance the cryptocurrency sector by providing frictionless crypto trading while maintaining transparency. The need for blockchain platforms will continue to rise in order to safely and quickly create a blockchain-powered ecosystem. Therefore, we bring to you a QI Blockchain with high transaction speed that is suitable for the quickest transactions and become the currency and foundation for Metaverse and Web 3 and the fourth industrial revolution.

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What is QI Blockchain?

Qi Blockchain (Qi for short) is a world-leading scalable and distributed, public blockchain network with smart contract scripting functionality. Qi is pronounced “chie” with the trading symbol “QIE”. Qi is positioned for Web 3.0, Metaverse, low transaction NFTs, Defi, and everything the future holds. Qi is solving the problem of high fees and scalability of blockchains as layer 1 blockchain with smart contract functionality.

Qi is a new entrant to the market able to handle 300 times more transactions per second than Bitcoin and 10 times more than SWIFT at a fraction of the fees with a secure consensus methodology.

Qis ecosystem is supported by one of the largest Venture Capital funds in Africa called nReach Capitis Laysan and VortX Capital. Qi is already used as the primary payment method in several apps and has the world`s lowest NFT marketplace with real use cases using Qi as native currency on their platform called Hovr available on the HovR.site.

Why Qi?

● Qi is a full infrastructure blockchain that allows any application in the world to be built on it offering a secure, decentralized network with sustainable, unmentionable low transaction fees and low fees mean they claim fees less than a cent to crate an NFT that currently cost almost 100 US Dollar on other blockchains

Innovations and real use cases of blockchain have only started and QI is the pick and shovel for all of this on a global scale

● QI is already integrated into several real-world apps as their primary payment method

● Countries can build their digital currencies on QI

● The whole backend and stock exchange or large databases can be upgraded and administered on QI for more transparency

● Improved record keeping and avoid double accounting

● QI is here to streamline and automate processes with endless use cases in Banking, Finance, Supply chain management, and many more

● Qi is environment friendly being able to mine with a home PC assuring everybody in the world has a fair chance to obtain their QI and remain truly decentralized

● In a few years, you may pay from your phone app and online services in QI

Mining in QI

As a private blockchain, there will not be too many miners in the network, so hashing power will be low. Because of this, you can mine with a simple CPU and very small resources. QI uses this system using a parameter called mining diversity, which restricts mining diversity ≤ 1. The mining diversity parameter describes the robustness of the system The legitimacy of the block is guaranteed as follows

● Apply all the permissions changes defined by transactions in the block in order.

● Calculate the number of permitted miners defined after applying those changes.

● Repeat the miners with a variety of mines, collecting to find space.

● If a miner of this block has excavated one of the previous space blocks 1, that block is invalid. This enforces a round-robin schedule, in which the permitted miners must create blocks in rotation in order to generate a valid blockchain

Multicurrency blockchains

QI solves the problem by encrypting the identification and quantity of all assets in each transaction output, using the extension provided in the bitcoin. The transaction guarantee law is expanded to ensure that the total value of all assets in the transaction results is exactly the same as the total value of its input. This equity requirement is stronger than the natural monetary barrier, where the output may be less than the input, with the difference collected as revenue by the miners.

Blockchain Messaging

The private blockchain can provide authenticated and anonymous messages, using the same method as the CoinSpark bitcoin protocol. There are two main uses for messaging. First, it can be used to supplement the important context of a financial blockchain transaction, such as a contract, receipt, or invoice. Alternatively, it can be used for pure unwritten communication without related financial transactions. In any case, the details in the blockchain enable the sender and recipient to verify the time and content of the written letter

Benefits of QI Blockchain

• Cheaper compared to other blockchains. As an investor looking to make a profit, the cost will not be a problem for small investors.
• The use in the real world will be limitless.
• Our transaction is confirmed in a few seconds at a low cost.
• Bulk supply of coins and as trees dont grow to heaven, QIs currency is greatly undervalued compared to BTC, ETH, Ripple, BNB, etc.
• No Stipulation code
• The excessive strength cost, extended pressure at the environment, related unfavorable media coverage, growing centralization of mining operations, and coffee transaction throughput will in all likelihood make it unviable within the lengthy run
• Sustainable low Transaction fees even in times of high usage
• Use of lightning network
• One of the Fastest blockchains ensuring almost real-time transacting.
• Transaction speed of 1500-2000 tps/sec

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Conclusion

Given the number of strong partnerships that have been formed in this ecosystem, Qi is definitely a blockchain infrastructure solution to look out for. Qi is the only blockchain that the world will ever need to be decentralized, secure, eco-friendly, and developer friendly. Qi can be used for a wide variety of innovative applications in finance, web browsing, gaming, advertising, de-fi, identity management, web 3.0, metaverse, and supply chain management all over the world.