Qchain, a next-generation blockchain network, intends to solve most of the existing problems with older blockchain protocols such as Bitcoin via an array of exceptional features. Older generation blockchains are plagued with many issues that are well known within crypto circles. Problems such as lack of scalability, low throughput, complexity, and so on are no secret. The first version of anything always has many rough edges, which is no different with technologies such as blockchain. But as people spend more time studying the tech, they can come up with solutions to some of the existing problems. These problems are addressed by incorporating new features, and this is what Qchain has done with its next-generation platform.
Unique Features On Qchain
Some of these features include high throughput of over 100,000 tp/s, according to testnet results. The system can potentially achieve up to 1 million tp/s. Additionally, there are no scaling issues since the network can be expanded almost infinitely. Even if the blockchain were to grow to the current size of the Bitcoin network, the total volume of the registry would not be more than 1 GB which isn't much even by modern standards. The system also boasts reliable security thanks to an in-house developed proprietary security system with an increased hash of up to 32 bytes. This ensures personal data kept in the storage is also protected since the system divides the file into parts, making it virtually impossible to get unauthorized access to the data. And finally, to incentivize usage, there are opportunities to earn for users who can receive income via staking, renting hard disk space and the QTI index.
As for the key features, the network node can be installed and run on almost any device, including PCs, smartphones, and tablets, and takes all operating systems from Windows, Mac-OS, iOS, and Android. Unlike most old blockchains that use the PoW consensus mechanism, which is energy consuming, Qchain uses Pos + PoT that is energy efficient. Interestingly, you can create custom tokens and conduct ICOs on the platform without involving third-party specialists who can be costly and limit many projects from achieving their fundraising goals.
To address slow times typical of peer-to-peer (P2P) networks, especially when they become large, Qchain uses a simple protocol based on TCP/IP that allows the network to achieve very high data exchange rates.
Products On Qchain
The platform boasts an ecosystem with various products such as the QToken, which serves as the basis for settlement on the network, QStaking, where you stake the native token QDT for passive income realized from facilitating transactions on the network. To be a staker, you need at least 100,000 QDT. Also, there is QSwap, a service that allows buying and selling other crypto coins via QST token, QStorage, a decentralized storage service where one can store their data or rents out their unused disk space, thereby earning 30% of the fees paid.
Other products include Qchain Place allows users to buy and sell various goods and services using the QDT token, Magic Lotto, which appears to be one of the first lottery games based on blockchain technology where draws are entirely transparent and fair, QToken NFT allows users to buy and trade unique digital artifacts, the QTI an index that monitors the crypto market using the ten key indicators, and QDex a decentralized exchange that charges minimal commission.
And for existing users, there is a Power smart affiliate program they can use to earn bonuses for inviting friends. Interestingly, the platform has plans to add a few services such as IoT support, solutions for unmanned vehicles, and trader bots soon.
Given the large array of features and products supported by this protocol, it's not a typical crypto project with a token but a whole ecosystem that allows users to access products and services that aren't supported anywhere else; thus, Qchain leads the way in the advancement of blockchain networks.