Qitmeer Network Weekly Recap
Hello everyone! In this article, we will be tackling the latest developments on the Qitmeer Network! We will be doing a brief discussion on the QNG NETWORK development.
As you all know, the estimated month of launch for the QNG Network is set for October, we will be transitioning from Umayyad 1.0 to Umayyad 2.0. Before that, the team informed the community of the Mantle Update, Mantle update is a critical phase for the birth of the QNG Network, before the official upgrade, version compatibility will be thoroughly tested ensuring stability before moving to a full upgrade to the QNG Network. During the Mantle update, the Umayyad 1.0 and the QNG Network will officially merge and node operators need to upgrade their node version to be compatible with the QNG Network.
The node compatibility for the QNG Network includes the official node, miner node, mining pool node, major mining node and exchange nodes. More details can be found in this medium article
The QNG Network is a much-anticipated milestone, but wait, there is another great news! The MeerEVM will be launched by the end of August as per the team! Before launching the MeerEVM, the team has decided to halt all the incoming funds to the staking pools (Guard Pool and Honor Pool) this will be effective immediately when the Qitmeer block height reaches 910,000 ( current block height can be found here at meerscan.io), the Qitmeer blockchain has a speed of 25–30seconds per blocks, it is estimated to reach 910,000 on the 13th of August, users can still stake their Meers on the Guardian and Honor Pools before it reaches the Snapshot height (910,000), all incoming funds on the staking pools ( Guard and Honor Pool) after the snapshot will not be going through and will probably result in a loss of funds, meanwhile the staking pools will remain as it is, users who locked their funds on the staking pools will continue to receive rewards and enjoy the benefits of the Pools detailed information on the MeerEVM launch can be found here.
To those who do not not know, the guard and honor pool can be found on the Kahf wallet, if you have a hard time finding the pools, please do not hesitate to ask our administrators on our official telegram channel.
The community is always cheerful and supportive as they are, the Qitmeer community is one of the best communities there is, when the BSC Meer dropped to 11.5$ we heard no complaints, all we heard was the loud cheering of the community and alas! The Meer BSC started crawling back from 11.5$ to 31.2$ at the time of writing, it is all because of the team’s effort and our community’s support, meanwhile, the Mainnet Meer is doing sideways movements from 0.24–0.30 in the past months.
The team is very grateful to the community and all the supporters and partners who believed in the Qitmeer Network, the team delivers and will continue to develop, be it bear or bull we will build and aim to be the best, thank you very much and see you in the next article, we will be the next big thing!
Regards
Qitmeer Team
