Qitchain Monthly Stats June 2022

1. Overview of Qitchain

As of June 30, 2022, the Qitchain mainnet data is as follows

Block height: 189443

Number of currency holding addresses: 107099

Network capacity: 960.31 PiB

Total number of nodes: 1000+

2. Technical trends

1. Technology exploration

After many discussions, the top-level design of the Wormhole side chain was completed.

Completed the first version design of the logical architecture and system architecture of the Wormhole side chain.

Completed the Wormhole side chain standard system specification v1.0.0 version.

2. Update iteration

This month is mainly optimized for transaction confirmation and conflict detection in the wallet:

In wallets now, the confirmation count of a transaction may be negative, indicating the depth of conflict found on-chain. For example, two transactions with the same input will be marked with the same absolute positive and negative number, if another transaction spends a negative confirmation count on the output of the transaction, it will also be marked with the same negative confirmation count. To detect this conflict, A rescan may be required;

Unlike previous versions, unconfirmed but non-conflicting transaction confirmations will never be negative, nor will they be considered spendable unless we change it ourselves and are accepted by our local marspool. A new field “trusted” in the return value of the RPC interface list transactions indicates whether the output of an unconfirmed transaction is considered spendable.

The mobile version of the QTC official wallet is expected to be tested before the end of August. It will be uploaded to GitHub to realize complete open-source and officially launched to the market. It is suitable for Android and iOS systems. The functions cover PC-side functions.

The computing power of the entire QTC network has reached 1200P+.

QTC’s solo mining software compatible with PoST algorithm has been tested and has been officially upgraded and released open-sourced on Qitchain official GitHub account on 17th June. In addition to seamless access to the QTC network through the mining pool, Chia miner can also directly participate in the QTC network through the solo mining software.

3. Community and Ecology

Before the end of December 2022, the underlying network of QitChain will complete the upgrade of “Zero-Knowledge Proofs (ZKPs) to realize the privacy of the Qitchain network.” this upgrade enables the use of privacy-preserving datasets in the current QTC network system. Allowing users and businesses to protect private datasets while executing smart contracts without revealing the underlying data.

QitChain’s weekly Twitter space live broadcast is going successful, discussing and spreading knowledge about topics, Metaverse Web 3.0 and how digital asset look like in Web 3.0.

The Foundation announced the holding data on the entire network.

The participants in Qitchain European and American communities has exceeded.