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.

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