QI Blockchain: new promising technology in the world of blockchain

Muhammad Qurban
4 min readSep 9, 2022

Blockchain can be defined as a distributed ledger or database that maintains the information of virtual transactions. It’s made way to a specific decentralized network. In greater simple phrases, blockchain may be defined as a platform that serves for acting any transactions without the approvement from the aspect of any controlling sellers. And it is crucial positive function of such era.
But blockchain also has other vital advantages. Let’s recollect them.

Benefits of blockchain technology
This technology has different benefits that make it suitable for the use of in truely special fields. Here those advantages are.
Immutability of stored records. Transactions can not be changed after the instant they have been recorded.
Security that’s reached thanks to the encryption function.
Instant and obvious transactions.
Users do not want any intermediaries way to decentralization.
Transaction authenticity is tested and showed by means of customers.

Blockchain has been surpassed through numerous tiers of improvement. Each stage is distinguished by using unique improvements, but humans nevertheless need a era so that it will be the maximum appropriate to fulfill their necessities. And QI blockchain seem like such era. Let’s recall it in a greater specified way.

The essence of the project

QI is translated as “vital life force” from Chinese. This term can be explained as the force which binds together everything in the world. And this term matches with the conception of QI blockchain.

QI platform represents an open-source instrument for launching tamper-proof decentralized financial contracts and apps and enterprise blockchain deployments within one interoperable ecosystem. This technology was created for the scale of world finance. Transaction finality is close to be instant here.

This blockchain was created on the base of Proof of Work (POW) consensus protocol. This protocol supposes block generation by miners who commit transactions within these new blocks. As for security, it would take 51% of the network’s power to attack it. So, it would be rather difficult for swindlers.

The base architecture of QI is Hyperledger Besu. This Ethereum client was designed under the Apache 2.0 licence.

Why is QI blockchain better than its analogues?

The cost of transaction fees is one of the most actual problems within crypto world. If we speak about traditional blockchains, such as Ethereum, sometimes such fees can be really huge because of network congestions. And it can be inconvenient for us to wait it become normal again because we need to send a transaction at a concrete moment.

QI blockchain provides the possibilities for sending almost instant transactions. But it’s not the only one important advantage of this technology. You can see its specific features in comparison with other famous blockchains in the table below.

The tokenomics of the project

QIE plays a role of the native crypto asset within Qi network. It’s supposed that max fixed supply will be 150,000,000 QIE.

Such users who broadcast a transaction request also have to provide a bounty to the network in the form of some amount of QIE coins. Payout will be given to the person who completes the process of verifying the transaction. Such system is based on financial incentives for the validators of transactions.

The amount of the reward depends on the time that is necessary to finish the process of calculation. Such system helps to avoid fraud in the form of intentional clogging the network thanks to requesting the execution of infinite computation.

Conclusion

QI blockchain is a promising technology that gives answer to different questions connected with actual situation in the crypto world. Its benefits allow to use this blockchain to satisfy your requirements connected with crypto assets.

Here you can get more useful and interesting information about this project:

Website: https://qiblockchain.online/index.php

Whitepaper: https://qiblockchain.online/images/QI_Blockchain_Whitepaper_V2.pdf

Twitter: https://twitter.com/qiblockchain

Facebook: https://www.facebook.com/QiBlockchain

Telegram: https://t.me/HovRonQiblockchain

Reddit: https://www.reddit.com/r/qiblockchain/

Instagram: https://www.instagram.com/qiblockchain.online

Youtube: https://www.youtube.com/channel/UCxRiEx7ywDyXp3seX8J4DdQ

AUTHOR BY:

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Telegram username: @habib78755
Campaigns applied: Article
QI wallet address: 0xd4dAd84DC162Da177125f0332BE4f64a1CA044c2

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