QNG Network will soon launch the “Mantle Update”
QNG Network will soon launch the “Mantle Update”
The next generation Qitmeer — QNG network will soon launch the “mantle update” and officially enter the QNG network.
QNG — The Evolution of the Qitmeer Network
Qitmeer Network has been running stable for three years from Mekka to Umayyad 1.0 in many iterations and optimizations. The network consensus mechanism adopts the cutting-edge BlockDAG protocol, which is a hybrid consensus combining Spectre and GhostDAG protocols and is based on the improvement and expansion of the classic POW consensus mechanism and evolves the “heart” of the network through continuous interaction and feedback with the UTXO data model — MeerDAG consensus mechanism.
This October, the network will enter Umayyad 2.0, where the Qitmeer Network will evolve into a next-generation implementable network with pluggable VMs driven by MeerDAG consensus, or QNG network for short. Technically, the QNG network is not only improved and optimized in many aspects but also implements MeerEVM, the execution engine that drives smart contracts.
Technical optimization of QNG Network.
● Optimize MeerDAG consensus, stabilize and greatly improve the efficiency of main chain determination.
● Optimize network transmission and P2P filter which makes P2P synchronization more efficient, DAG network loads faster and block synchronization is more efficient.
● Optimization of mining: memory pool, block template, GBT optimization, Miner stability and mining efficiency is enhanced.
● Compatible with EVM and smart contract execution engine.
● In terms of network roles, from the initial single Holder to the joint participation of PoW miners and Staking nodes, and the addition of new roles — “ eco-nodes “. The ecosystem will become more diverse and challenging, and more conducive to the evolution of the “life form” of the network.
Qitmeer’s evolutionary “engine” — governance
Modern human organizations have a strict hierarchical organizational structure and a system of law and order to govern the functioning of companies and societies. However, in the blockchain world, distributed and cross-domain collaboration is the main way to create value. Most of the distributed collaborators may come from different backgrounds and have no basis of trust among each other and establishing a set of governance and management frameworks to provide them with a fair, secured and easy-to-follow mechanism to regulate and balance the relationship among stakeholders is the source of driving the evolution and development of blockchain networks forward.
BIP (Bitcoin Improvement Proposal) is a governance model for Bitcoin to make improvements and upgrades, a model of off-chain governance and the most initial state of blockchain project governance. Ethereum borrows from Bitcoin’s governance model but is less rigid in its governance — exercising a governance model that focuses on reconciling differences at the social level and convincing people to come to your side. During development, this model of off-chain governance revealed certain risks, with the network relying too much on developers or founders for improvements and development, and improvements being implemented depending on miners.
As blockchain technology became more widely used, a new organization, the DAO (Decentralized Autonomous Organization), gradually developed at the governance level. This is an on-chain governance model where protocols are updated through smart contracts. While on-chain governance drives the process of group decision-making, it is very difficult to evolve protocols that can coordinate all stakeholders. Full on-chain governance also weakens the role of checks and balances of the full nodes in the ecosystem and if on-chain governance fails, the full nodes may have to implement updates that are harmful to the protocols, putting the network at risk.
The Qitmeer Network is a young blockchain network that is still developing, and the players involved are becoming rich and diverse. Establishing a governance system is particularly important to balance the interests of all parties to collaborate and contribute to the development of the network. Currently, there is still a long way to go to achieve full on-chain protocol governance, therefore, the initial governance norms should be established first and off-chain governance should be carried out through QIP, proposal system and community review mechanism, and group decision-making should be realized as much as possible.
Group decision-making mechanisms are essential, but full on-chain governance is also not enough. Business scenarios are very complex and when you encounter some disputes, it is not just “Yes” or “No”, more solutions may be needed, at least off-chain human intervention will increase the flexibility of business operations. Qitmeer Networks’ governance architecture will evolve and improve in practice, moving towards a combination of on-chain and off-chain to build a more comprehensive framework.
QNG Network Upgrade Launches “Mantle Update”
For Qitmeer Network to update to the QNG network ahead of Umayyad 1.0, it needed to ensure that the network would be backward compatible to guarantee continuity and availability of the ledger. Therefore, a new version of QNG that is compatible with the Umayyad 1.0 network is necessary.
The Mantle Update is a critical phase for version convergence. Before the official upgrade, version compatibility will be thoroughly tested to ensure stability before moving to a full upgrade to the QNG network.
During the Mantle Update phase, the Umayyad 1.0 primary network and the QNG network will officially merge, and the following full-node operators will need to upgrade their nodes to the specified QNG version.
Ⅰ：Official node update.
Ⅱ：Miner node update.
Ⅲ：Mining pool node update.
Ⅳ：Major mining node update.
V: Exchange node update.
Mantle Update Key Notes.
To ensure the security of the ledger and the smooth progress of the upgrade, when officially upgrading the QNG network, both the wallet and the exchange will suspend the transfer function until all nodes are upgraded to the specified version and the mining pool is normally out of blocks to be stable before resuming the normal transfer function of the wallet and the exchange, so please make sure to prepare in advance.
The QNG network is still undergoing continuous testing and will be officially upgraded soon. A definite time and official QNG version will be announced in advance, so please pay attention to the official announcement.
Prospect
The ecosystem deployment on MeerEVM will be officially launched if the nodes can provide a stable environment for EVM operation after upgrading the QNG version and the network is running smoothly.
