Qitchain’s Monthly Stats August 2022

1. Overview of Qitchain

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

· Block height: 219437

· Number of holding addresses: 110266

· Network capacity: 1017.70 PiB

· Total number of nodes: 1500+

2. Technical Trends

1. Technology exploration

· The in-depth testing of the new protocol layer has been completed, and we have fixed some problems and defects found in the testing process.

· The Wormhole side chain development work is in progress, and the overall work progress is 45%.

· The first phase of design and development of the developer platform has completed.

2. Update Iteration

This month, we mainly optimized for message middleware, wallet, and data verification:

· There is now an option to notify clients of new transactions and blocks asynchronously based on ZeroMQ. This function requires the ZeroMQ C library of version 4.x to be installed and used through the command line or configuration file.

· Previously, each transaction would store a merkle branch in the wallet to prove its validity on the chain. Considering the huge resource consumption of this sanity check, this setting will be removed.

· The VerifyDB method no longer checks for blocks that have been pruned.

· The network difficulty increases to 1000 plus PiB.

3. Community and Ecology

· On August 20, CEO Shaoib Hayat connected to Qitchain community, and update community members on progress of new protocol layer, mobile wallet and future plans.

· On August 25th, the Search Lab team invited CTO Sam Catchpole and representatives from the Qitchain core team and Qitchain Research Institute to hold an online seminar to deeply analyze the feasibility of combining the results of the first phase of the new protocol layer with the future decentralized search engine. and discussed its value in decentralized finance, community autonomy and other fields and the challenges in the NFT field.

· 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 proof of work and non-proof of work, stay tuned for more.