Qitchain’s Monthly Insights September 2022

1. Overview of Qitchain

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

· Block height: 234383

· Number of currency holding addresses: 110368

· Network capacity: 1.16 EiB

· Total number of nodes: 1500+

2. Technical trends

1. Technology exploration

· Wormhole side chain releases standard system specification v1.1.0.

· The Wormhole sidechain development work is in progress, and the overall work progress is 70%.

· The developer platform architecture phase has been completed.

2. Update iteration

This month, the database, P2P transmission, and RPC interface modules have been upgraded:

· Due to the rapid growth of the UTXO set, the default database cache size has increased from 100MiB to 300MiB;

· A new low-bandwidth transmission mode is added to the client. In this mode, blocks will be transmitted in a compressed manner when synchronizing blocks between nodes to improve the bandwidth utilization of P2P forwarding, but this may reduce the block generation efficiency of mining nodes;

· Added RPC commands getmempoolentry, getmempoolancestors, getmempooldescendants to query more detailed transaction status in mempool.

3. Community and Ecology

· On 27th September we have participated in FIL Singapore 2022 summit, and present there Qitchain Network and why Qitchain is the rising star of public chain, which was a great success.

· On September 5, the Search Lab team released the report “Omini on Qitchain: A Feasibility Study Report on Collaboration between Decentralized Search Engines and New Protocol Layers”, summarizing the results of the seminar organized on the new protocol layer construction of a decentralized search engine has carried out various feasibility demonstrations.

· On September 31, the Qitchain core team held a Q3 quarterly internal meeting, summarizing and updating about the work content of the Q3 quarter and calling on everyone to actively meet timeline in next quarter.

· The weekly Qitchain Twitter space live broadcast is a success, addressing and disseminating information about a new horizon every week to our community, like our latest topic was Qitchain rising star of public chain, stay tuned for more.