QNG Network New Facade: Analyzing the Driving Force and Charm Behind Its Rise
🦄💫🌍Behind Ethereum success, EVM smart contract infrastructure has built a vast and powerful ecosystem. Qitmeer chose to be compatible with EVM not only to take advantage of this huge first-mover advantage, but also to adapt to the wide compatibility of blockchain applications.
Being compatible with EVM enables Qitmeer to more easily embrace the rich smart contracts that already exist in the Ethereum ecosystem, while optimizing performance and scalability, injecting new vitality into the blockchain application ecosystem.
Digital Revolution: The Birth and Evolution of QNG Network
🪐Ethereum Network Effect has been successful in the smart contract execution environment. However, with the expansion of the Ethereum Virtual Machine (EVM) ecosystem, blockchain systems that do not support this specification are gradually at a disadvantage. Currently, the digital world is fully entering the era of multi-chain, and compatibility with EVM has become the mainstream solution for connecting the blockchain ecosystem.
Qitmeer, as an underlying network that adopts the high-performance BlockDAG consensus protocol, faces the challenge of establishing an independent ecosystem in the multi-chain era. However, Qitmeer has early insight into the industry’s changing trend. Based on the underlying Meer network of BlockDAG, Qitmeer timely launched its own EVM compatibility solution — QNG network.
This strategy not only gives Qitmeer an advantage in competition, but also provides developers with a broader development space, promoting the rapid development of the ecosystem. Through the birth and evolution of the QNG network, we see the footsteps of the digital revolution becoming clearer, bringing new vitality and innovation to the future blockchain.
QNG Network: Connect the Ethereum ecosystem and enjoy the journey of network compatibility
🌈 The “EVM Chain” is not simply a mirrored runtime environment of Ethereum, but rather encompasses several key specifications that originated from Ethereum and have become global standards.
Solidity (is a high-level language that compiles into EVM bytecode)
The JSON-RPC client API for Ethereum (the specification for interacting with Ethereum nodes)
ERC20 and ERC721 (Ethereum Token Standards)
ethers.js (is a networking library that interfaces with Ethereum)
Cryptography in Ethereum (involves the usage of keccak256 as a hash function and ECDSA signatures using secp256k1)
Support for multiple standards
MeerEVM encompasses all the standards of the Ethereum Virtual Machine (EVM), meeting the requirements for blockchain compatibility.
Providing diverse web3 tools
The QNG network of Qitmeer not only encompasses all the aforementioned standards but also supports Ethereum development tools such as Remix IDE for writing, testing, and debugging Solidity code, Ganache for development and testing of smart contracts, as well as the thirdweb tool for convenient contract deployment. Users can acquire test tokens through the testnet faucet tool, participating in network testing and ecological deployment.
Create a great web experience
The QNG network builds a code execution environment equivalent to the Ethereum Virtual Machine on the Ethereum network framework. This means that Ethereum developers can conveniently deploy protocols onto the chain, achieving fast compatibility with the Ethereum ecosystem.
Furthermore, the QNG network offers lower gas fees and faster transaction speeds. It adopts the same address format as Ethereum, enhancing user-friendliness. This advantage accelerates the expansion of the Web3 community and ecosystem, enabling Ethereum developers and ecosystem users to transition seamlessly to the QNG network.
Provide ecological support
As a community-driven public blockchain network, we welcome more developers to pay attention to and build on this high-speed network. We provide an SDK development toolkit and comprehensive development documentation, and also open applications for the ecosystem fund. We actively support and encourage outstanding application ecosystems to migrate into our ecosystem, and through joint efforts, create a prosperous blockchain application system.
The QNG network achieves a seamless connection with the Ethereum ecosystem by integrating these key specifications, providing users with a perfect experience to enjoy a network-compatible journey. This integration not only expands the functionality of QNG but also creates broader possibilities for users and developers.
QNG Network: The Key Driver for the Flourishing Ecosystem of Qitmeer
Relative Advantages of EVM-Compatible Chains
🐬Currently, a vast and diverse ecosystem has emerged around the development of EVM-compatible chains. This ecosystem includes platforms such as Avalanche, Binance Smart Chain, Fantom, Qitmeer, as well as second-layer solutions like Arbitrum and Optimism. The chart below provides a clear illustration of the relative advantages of smart contract platforms based on the Ethereum Virtual Machine (EVM) across various dimensions, including network performance and average transaction fees:
Building a thriving ecosystem
🪼Nowadays, the transaction costs of most EVM compatible chains are around 25–50 cents per transaction. Compared to the relatively lower fees on other EVM chains, users can reduce the transaction fees to less than 1 cent using the lightning-fast transfer feature of the KAHF wallet. This lowers the user’s cost of using the blockchain network and helps improve user experience, promoting the widespread adoption and application of blockchain technology.
The QNG (Qitmeer Next Generation) network is a high-speed network designed by Qitmeer specifically for applications with high-performance requirements. If you engage in activities that demand exceptionally high blockchain performance, the QNG network is undoubtedly the optimal choice. For instance, it is ideal for AI drawing and creative transactions on DimAI (Qitmeer’s AIGC brand), high-frequency quantitative trading of digital assets on CandySwap, and meeting high-performance requirements for multiplayer online blockchain battle games on the Qitmeer chain.
The Qitmeer Network is committed to advancing the development of the micro-transaction economy in the blockchain world. We consistently maintain a forward-looking strategy, continuously innovating and exploring in the blockchain field. By further incubating outstanding ecosystem projects, creating unique and novel application scenarios, we aim to drive the prosperity of the blockchain network ecosystem.
Achieving cross-chain interoperability
🪺Layer1’s cross-chain Hub layer QNG network is the cross-chain center of Qitmeer Network, which has integrated the MeerEVM container layer compatible with the Ethereum virtual machine. This implementation enables the QNG network to seamlessly connect with the ecosystem of Ethereum and its compatible chains. With its universal data structure, the QNG network will also integrate more containers in the future to further facilitate interoperability between cross-chains and multi-chains.
Unleashing Infinite Possibilities Continuously
- Lower the threshold of use
QNG Network allows users to easily hold and transfer tokens using multi-chain wallets such as MetaMask, TokenPocket, and KAHF. Only a small amount of MEER needs to be paid as a gas fee for each transaction to execute the transaction operation.
- Promoting diversified development of ecology
QNG Network is open to Solidity developers, who are currently the largest blockchain developer ecosystem globally, with abundant tools, open-source code libraries, and SDKs. These developers can utilize these resources to build on the QNG Network and be fully compatible with RPC. This means developers can build new projects or migrate their projects on the QNG Network, enjoying the same development environment as Ethereum, thereby promoting diversified development of ecology.
- DeFi Incentives Boost MEER TVL
As the adoption of the QNG network increases, shared liquidity between EVM Tokens and MEER will be driven into on-chain ecosystem applications, thereby enhancing MEER’s trading depth and utility. This initiative is expected to propel an increase in the Total Value Locked (TVL) of MEER within the DeFi ecosystem.
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🏃🏽♂️🤝The QNG network integrates the BlockDAG (MeerDAG) consensus protocol with the MeerEVM container layer, creating a cross-chain container layer that combines high performance with excellent security. By fully integrating the abundant development resources of the Ethereum EVM ecosystem, it reduces developers’ migration costs and achieves seamless integration with the existing DApps ecosystem.
This enables the QNG network to integrate with multiple public blockchain ecosystems, such as Ethereum, thereby unlocking smart contracts, facilitating cross-chain connectivity, and accelerating ecosystem expansion. This strategic role is considered a crucial step in reconstructing Qitmeer’s public chain economic model, laying the foundation not only for the future large user base of Web3.0 but also serving as a key practice in embracing the new era of Web3.
