QTC, the native token of the Qitchain Network which facilitates searching and data storage on the blockchain, was officially launched on Gate.io and began trading at 10:00 on February 24, 2022 (UTC). As one of the world’s leading cryptocurrency trading platforms which has the longest history as well as the biggest real transaction volume, Gate.io prioritizes the security of blockchain assets of all users. Moreover, the platform has poured significant investment in providing both centralized and decentralized guarantees to maximize the safety of crypto properties for its users.
Specifically, this program contains 105 million QTC. Each data block with the size of 2M will be packaged for every three minutes. The QTC will be given as a reward for storage service providers who obtain account-keeping rights. The revenue will be halved when the height of the block reaches 420,000, and then, every time the height of the block increases by 700,000, the revenue will be halved again until all 105 million tokens have been issued. In addition, the purpose of QTC's entrance into Gate.io is to deliver rich returns to investors under the deflationary economic model.
The Qitchain Network is a platform enabling efficient information searching and storage on the blockchain distributed network based on the concept of Web3.0. Since QTC's mainnet was launched on September 15, 2021, its hashrate has grown from 15P to nearly 700P, representing a roughly 50-time increase. With a block reward of 75.00 QTC, the number of independent token-holding addresses has reached 105,000, and the overall market value is close to US$ 150 million.
Based on the Blockchain distributed search engine, QTC has grown into one of the most widely distributed networks with over 1,000 nodes in operation worldwide. Different from traditional centralized search engines, QTC has the advantages of protecting personal data privacy, preventing data loss, and offering decentralization in the blockchain world. The block browser upgrade will be completed in Q1 2022, at which time users can query more accurate and comprehensive data information on the block browser. When using QTC for searching, users' search history will be protected under user privacy, and users are afforded a non-Pay-Per-Click transparent experience.
Node is the most basic and important element in a distributed network system. The distributed search engine created by QTC is spread over different network nodes to prevent any centralized organization or individual from gaining access to any information which users are searching for. These nodes are equal, have the same structure, store the same data of the whole network, and faithfully record every digital asset transaction across the entire network. QTC aims to encourage more nodes all over the world to join the maintenance and construction of the mainnet and. To achieve this goal, the network will reward node guardians to the tune of US$ 3.5 million.
In the situation that appearance of a large number of NFTs and metaverse-related data, the demand for distributed storage and searching will also increase in the future. Therefore, Qitchain Network is positioned to serve the infrastructure of Web3.0 through its own advantages in technology and consensus, and provide distributed storage and information retrieval services that users can trust. This efficient, transparent and privacy-respecting architecture has the potentiality to become a leading player in the distributed search engine and information storage market.
About QTC
Qitchain is one of the best applications developed on Blockchain technology throughout the world. Currently, the trust will be widely suspected when there is only one gray line between real and fake. Blockchain is the technology that creates and guarantees the trust, QTC is a distributed search engine based on blockchain to help users quickly search the blockchain network.
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