Qitchain Network Upgrade to V1.23.4


Qitchain Network will carry out network-wide technical updates and iterations on October 12th, 2021. Before that, global storage service providers need to update to the latest version qitchain-v1.23.4 as soon as possible.

The advantages of this technical iteration are:

 (1) Optimize the availability of node data and to further improve the consistency and stability of node operation

(2) Optimize some setting menu items of the QTC client

(3) Enhance the strict inspection mechanism when creating transactions

(4) Use optimized algorithms to improve calculations and its efficiency.

Download Qitcoin

Qitchain Mainnet is officially launched and entered third-party security audit on 15th September 2021 which is released on Github. One can download and install from Github. PoC mechanism of Qitcoin QTC has increased its significance and made it worth downloading. Unlike other cryptocurrencies it welcomes and supports rich kinds of query.

Development Process

The Qitcoin Core built and tested on regular basis. New official and stable release versions of this are also mark with tags on a usual basis. One of the well-known updates is Index adjustment that helps in unbinding of binding functions. The growth rate of the whole network’s computing power has accelerated. Also, some of the vulnerabilities have been discovered and fixed. 

The contribution workflow describes in CONTRIBUTING.md. Useful hints for developers can find in doc/developer-notes.md.

Qitchain; Eco-friendly Software:

Qitchain Network is abbreviated as QTC. It has a pluggable consensus module that allows users to choose from various consensus protocols to improve the performance of various application scenarios. QTC ensures the healthy development of the entire coin by establishing a long-term incentive economic model based on the Proof of Capacity (POC) consensus algorithm.

The economic model of this software supplies a total of 105 million tokens. After every 180 seconds, it produces a block where one block is 2 MB in size and makes 75 QTC per block. The initial transaction per second is 70, boasting a total of 3000P network capacity. Block rewards obgtain jointly by POS and storage miners. 80% of rewards are obtained at 180 antennas, and 20% are released at one time.

As Qitcoin has adapted a PoC mechanism, it helps everyone to participate in mining because it only requires a hard disk which can be available easily from the market. Thus, it has made a mining system simple and reachable that will generate a secure well-run product. Its mechanism is eco-friendly which provides the constant and automatic expansion of QTC; it helps consuming low power where miners can easily predict their income.

License of MIT

The MIT license governs the issue of Qitcoin Core; a brief and simple permissive license that simply requires the maintenance of copyright and license statements as a prerequisite. Licensed works, adaptations, and larger works may be provided with or without source code under varying terms. The MIT license has issued the Copyright (c) 2020-2020 to Qitcoin Core developers.