WELCOME TO QITCOIN
When blockchain technology was established 13 years ago, the primary intention was to create a private network that allows for users to have full privacy.
Whether it’s using a currency, like Bitcoin, Qitcoin or using products without dependence on a certain individual or entity.
In 2019, when our team got together and created the project, we set out to build a highly educated team.
In fact, our team integrates many prominent members of cryptocurrency organizations and top international top
academic leaders that have experience in blockchain security, applied cryptography, and cloud computing security.
The main issue with the producers of the mining machine is that they have made it harder to mine.
It has caused mining to become a lot less achievable from an average person as it takes a lot more capital and knowledge of certain machines.
Using our diverse team, we established the Qitchain Search Engine (Qitcoin-QTC)
which is a distributed search engine based on IPFS to help users quickly search on the IPFS network.
Our product allows for the control of your data, ease of use, and complete privacy.
In addition to that, as we began building this platform, in 2019, we recognized that the cryptocurrency mining sector is broken.
Yes, it’s a rather substantial statement to say, but it’s true!
So, in face of this issue, we have established our own mining mechanism which will target any user that would like to partake in running the network.
What is Qitcoin QTC?
Qitcoin is a decentralized search engine. The relationship between blockchain introduces to improve the ability of the block and the expression of semantic chain system.
The relationship block data modeling
and quarry processing help to improve the capacity of blockchain system that can support richer kinds of queries.
QTC accelerates and implement WEB 3.0, it does not provide any information to any organization or an individual which solves the privacy issues.
The data searched go back to the people within the network; Qitchain is IPFS based that has decided to become the future ‘Google’ by blocking the chain.
The data, identity, and assists of the user are totally under the control and helps every user to become trustworthy.
Effective interaction in any work provides the success and this is what distributed search engine has promised to provide without involving a third party.
This engine has tried to resolve many issues that were bothering the public to some level;
the utmost concern of the users about losing the personal information has solved as it stores data on various nodes of the network.
Secondly, searched keywords displays and lists all the results ; these are listed in the distributed nodes with no insertion of ads in the middle of it.
Adoptation of ‘Encryption Technology’ has made it special;
how appealing it is that each user owns the private key which helps them to control and decide who can get access to their data.
The individual can share the private key with the desired person or company; this is why it is considered safe.
It ensures the privacy of every user and does not let anyone to steal the data. Many people take part in this as it is the solution to people’s concerns; it will definitely help to attain an outstanding ecological cycle and allows us to learn the economical model of this search engine.
How it works as distributed search engine?
Now, let us discuss how Qitcoin QTC can work as a distributed search engine:
It is a blockchain-based tool that brings into use in order to find encrypted information that has already been stowed on the various nodes of blockchain.
According to its situation, every node of it can opt for different algorithms; while searching a keyword on it, each node on it will send a query in the disrupted ledge.
After this process, we find all the required results which are already encrypted and stored in that ledger.
This one is also an integral part of the data value conversion Web 3.0 which builds a friendly and systematic market
between service providers, producers, and consumers to reduce market friction, price differences and give full focus with the required potential to the market.
QTC is a combination of the underlying basic technology of IPFS, Bitcoin, Ethereum, and AC tree technology of our team
which helps to develop a Google distributed blockchain search engine.
Its economic model tells us that after every three minutes it produces a block where one block
is 2MB in size and produces 75 QTC.
QTC Technology Breakthrough
During the research and development process of the QITCOIN project, there are four major technological
breakthroughs and innovations about the “tree”.
ADS AC tree is a write-efficient designed; in the AC-based designed tree grounded on the time window to optimize queries.
Based on the AC tree, a verifiable query is realized which greatly improves the query performance of the verifiable range and connection query.
They research and propose a cryptographic accumulator-based ADS GCA2 tree to support verifiable multi-dimensional aggregation queries for blockchains.
Qitchain first uses a query compiler to parse the query and generate the abstract syntax tree so that it can support two query types, full node oriented query and light node oriented query.
The MPT tree completes and supports the verifiable query of the state data by light nodes.
The hash value of the root node of the MPT tree stored in each block header corresponds to a snapshot of the state database which supports fast restart and recovery of nodes.
Problems Solved By QTC for Storage and Search:
The system only stores one piece of data, which does not bring any additional storage costs while improving the query processing capacity of the blockchain system.
Why mine Qitcoin?
1) We have built it on the POC2 consensus algorithm.
2) Instilled three-minute block time and 2M block size (increases speed of the network).
3) Total network capacity of 3000P and plans to add zero-knowledge proof.
4) Use of hard disks (ASIC resistant) which do not require any professional and equipment.
5) Environmentally friendly with low energy consumption and low noise level.
To add into that, QTC uses hard disk storage to break up centralized computing power, thereby preventing the formation of monopolies.
In the existing proof-of-work cryptocurrency, every collision of the hash value is a massive calculation, and continuous collisions continue to consume energy.
So, as you can see, the primary emphasis with our project is to integrate blockchain that allows
users to control their data with an easy-to-use platform and easy mining processes!
As resources produces blocks and its costs gradually increase, cryptocurrency enthusiasts have begun to
seek alternatives with lower power consumption. It mainly divides into two categories:
lower-cost alternatives and more versatile stackable.
The original intention of ETH and Monero is to resist ASIC.
They hope that the calculation method of block production can resist ASIC chips, and maintain a relatively low block production cost
so that ASIC chips do not controll mining.
The monopoly of computing power has brought about mass energy consumption.
The dependence on electricity and the threshold of mining farms has made mining a game for a select few.
QTC can not only achieve lower energy consumption
but also facilitate the participation of miners’ self-made common components while maintaining a relatively
high degree of difficulty to ensure the stability of the system.