Qitchain Monthly Stats July 2022

1. Overview of Qitchain

As of July 31, 2022, the Qitchain mainnet data is as follows

· Block height: 203946

· Number of currency holding addresses: 109587

· Network capacity: 926.82 PiB

· Total number of nodes: 1000+

2. Technical Trends

1. Technology Exploration

· Considering the huge workload, we plan to build a developer platform to allow more outstanding technical personnel to join Qitchain, and we will reward QTC to everyone who contributes. The initial developer platform will be a centralized platform, which will be transformed into a decentralized platform based on smart contracts in the future.

· The development of Wormhole side chain has started, and the overall work progress is 15%.

2. Update Iteration

· This month is mainly optimized for the client and transaction bottom modules:

· Transactions in the mining node transaction pool can now be replaced. The client only allows to replace transactions whose nSequence is less than 4294967294. In addition, the replaced transaction can only be accepted when sufficient transaction fees are paid. The command line option -mempoolreplacement=0 can be used. Disable transaction replacement, the mempoolreplacement option is not recommended for wallet users to avoid receiving unconfirmed select input transactions

· Previously, OP_RETURN with load was only mined when it only output a single data. Currently this restriction has been lifted, allowing arbitrary data and constant opcodes to be combined after OP_RETURN. The OP_RETURN output size limit is now valid across the entire serialized scriptPubKey, defaulting to 83 bytes.

· The team is working on the upgrade of “Zero-Knowledge Proofs” (ZKPs) and complete the architectural part to realize the privacy of the Qitchain network. To enables the use of privacy-preserving datasets in the current QTC network system.

· The mobile version of the QTC official wallet is in its final segment and expected to be tested next month. Soon after testing will launch in marketplace and open-source the on GitHub as well in coming month.

· QTC’s solo mining software compatible with PoST algorithm which has been upgraded and released open-sourced on Qitchain GitHub as well is running sleekly and successfully.

3. Community and Ecology

· On July 5th, CEO Shoaib Hayat and CTO Sam Catchpole were invited to connect with the offline theme salon held by Qitchain Research Institute and Daling Research, and shared the architecture and specification design results of Wormhole sidechain.

· The weekly QitChain Twitter space live broadcast is a success, addressing and disseminating information about Metaverse Web 3.0 and how digital assets appear in Web 3.0.

· The participants in Qitchain European and American communities have exceeded. Qitchain is in process to develop a new marketing and support team for European and American community to timely respond to their queries.