How Economic Model of Distributed Search Engine QTC Work?
Economic Model of Distributed Search Engine QTC
The total circulation of Distributed Search Engine qtc is 105 million before the mainnet is going to live.
Accounted for 20% of the genesis block contains 21 million pieces, 5% will release in five years by the foundation starting from January 1, 2022.
In a tenure of five years, 15% of the system will release owned by the search laboratory, which will release when GitHub is open source. Participants account for 80% expect to dig up by 2150.
The algorithm used in distributed search engine QTC economic model is: CPOC+POS
Which combines the underlying technology of Bitcoin + Ethereum POS technology + IPFS
distributed storage technology, combined with our team’s own AC tree technology to create a
Google-distributed blockchain search engine in the blockchain era.
The second point: is that QTC produces a block every 3 minutes, each block produces 75 QTC, and
each block size is 2mb.
(In particular, the first halving is the height of 420,000 blocks. The height of every 700,000 blocks will
halved in August 2023, and expected to halved every four years which will be August 2027; the pledge halving will synchronized with the block currency halving cycle).
The third point: is-conditions for participation in mining: There are two situations.
The first situation is:
Without pledge, the participant’s output is 5% poc + 95% pos which is as follows.
That is, 5% of the output of whole network will given to participants, and 95% will used as an equity incentive for first 10 festivals of pos.
The second situation is:
Under the condition of pledge, the output of participating in this is 80% poc + 20% pos which is as follows.
The participants will get the 80% output of entire network + 20% as the incentive for the top 10 nodes of pos.
The fourth point is:
In order to incentivize all participating miners: the share of pos generated by the entire network every day will distributed as a reward to the pledged accounts.
The rewarded account is the mining address participating in the pledge, and the top 10 accounts are ranked according to the number of locked positions.
(Note: The lock-up period is divided into 360 days and 540 days, which can be freely selected. It can be withdrawn at any time when it expires. The account date is T+1, which needs to be withdrawn manually)
Then, the staking reward of pos obtained by the top 10 accounts is issued to the address where the reward is obtained at one time.
If withdrawal or transfer is required, it can be withdrawn or transferred once every 100 blocks (5 hours).
(Special Explain that the pos reward distribution ratio is distributed according to the proportion of the number of each pledge account).
The fifth point is:
In order to ensure the consensus of the entire network and ensure the stable income of each miner, the part of the rights of the poc mined and obtained by the miner is divided into two release mechanisms:
The first release mechanism is that 20% of the poc part produced and obtained by the miner can be released for trading immediately, and all can be freely traded.
The second release mechanism is that 80% of the poc part produced and obtained by the miner is traded and sold according to the 180-day average linear release.
The sixth point is:
In order to ensure the overall price stability and give participants more time to build their understanding and belief in the project.
Our team has also tested and designed for nearly a year, and finally made some optimizations and optimizations based on the fil mining principle.
Upgrade, adopt the current “green pledge mechanism”.
Option (1) is that the pledge period is 360 days, then 10 QTCs will pledged per t computing power.
Option (2) is that the pledge period is 540 days, then 5 QTCs will pledged per t computing power.
The number of pledges will halved as the entire network halves the cycle.
The seventh point is:
The successful application of the distributed blockchain search engine QitChain will complete three cycles for a total of 15 years:
First five years:
From 2021 to 2025, realize the formation of global user consensus, low threshold, low storage and low energy consumption.
Second five years:
From 2026 to 2030, realize the innovative iteration of storage machines, real data fragmentation
and distributed chain storage, high threshold real storage and low energy consumption.
Third five years:
Real data search from 2030 to 2035 will realized and became the distributed search engine of
Google in the field of blockchain.
This is a result of thousands of verifications. This mining economic model is also one of the key factors that make QTC a trillion-level dark horse project.