Rules for activating MeerEVM

Introduction

Qitmeer Network is a fledgling public blockchain network composed of different actors (nodes) contributing to the network construction in different “participation” ways, each of them constituting a symbiotic relationship of mutual independence and interdependence.

In the time of Mekka (token HLC), there were only Holder participants, and in the time of Medina (token Pmeer), the introduction of PoW Miner marked the birth of Qitmeer Network, implying the transition from the Ethereum token model to self-developed public chain technology, and Qitmeer Team became one of the important contributors to the network construction.

At the time of Umayyad 1.0 (Meer token), the Qitmeer Team, PoW Miner, Staking Node and Meer holders have formed a diversified and symbiotic network ecosystem. Despite the gradual enrichment and diversification of the roles involved, the synergy between the roles is still in its infancy for a “decentralized” network, so “governance” will be on the agenda.

Umayyad 1.0 Network Role Responsibilities

I.Qitmeer Team

While maintaining the security of the underlying network code, we will continue to explore the cutting-edge technology and implement it, always on par with the world’s leading public chain technology. To pursue the idea of “decentralization” in governance and to realize a community-driven “decentralized” network.

II.PoW Miner

PoW Miner invests in expensive hardware equipment and continuous power resources to maintain the stable operation of the network and becomes the defence layer of network security to defend against 51% of arithmetic power attacks.

Ⅲ.Staking Node

Long-term value holders of the network lock the tokens in the network, increase the sunken value of the network and regulate the Meer flow.

Ⅳ. Meer Holder

Supporting the network by directly holding Meer assets.

Introducing new characters

The original plan was to upgrade the network to an EVM-compatible QNG network when Umayyad 2.0 was created to establish a second-tier application ecosystem and to develop the single-user Staking Node into a diverse ecosystem of nodes.

When new actors (nodes) are created in the network, there will be subtle changes in the reciprocity of rights and collaboration in the division of labor, and it is a matter of concern for all network proponents whether this will help the network ecosystem evolve in diversity and become more robust, or whether this young network will be damaged and become more fragile.

For a sufficiently decentralized and mature public blockchain, openness and inclusiveness will make its ecosystem more diverse and resilient. For example, Ethereum, thanks to the early implementation of smart contracts, has rapidly flourished and precipitated a large number of high-quality ecosystem projects. The DeFI boom that emerged in the past two years is not without some fraudulent projects using various public chain platforms to do fraudulent acts but the open and inclusive Ethereum ecosystem can self-regulate and eventually reach a balance.

For example, a public chain with the technical advantage of high throughput has attracted a large number of spinach-type Dapp that had been famous for a while, but it takes a long time to restore its ecosystem after a short-lived appearance, and such behavior actually causes lasting harm to the long-term value of the network.

Therefore, the introduction of new players (nodes) focuses on the long-term value and stable development of the network, and will not harm the network and community for short-term interests. When the ecosystem nodes reach a certain scale and precipitate several high-quality projects with real application scenarios, the Qitmeer Network will grow into “a public blockchain network that is highly expandable, inclusive and open to the world”.

Become an Eco-Node

To guide the new role of “ eco-nodes “ to participate in the construction of the network, and to screen out strong quality projects to give more support and incubation, eliminating risky projects to protect the interests of community users. To avoid the situation where bad money drives out good money, to prevent the whole ecosystem from entering a vicious circle, and to prevent the network from becoming a tool for unscrupulous projects to do fraudulent acts at zero cost. Therefore, the “ eco-node” paradigm will be described in the section on economy and governance.

I. Become a Staking Node

The sinking of capital facilitates the superiority of the project and increases the cost of fraudulent acts.

Ⅱ. Community review mechanism

New projects need to make a proposal in the governance proposal system, face the community to elaborate its project details and design plan, and the project that passes the vote can finally get the incentives of ecosystem governance.

Ⅲ. Security Audit

Security is a prerequisite for development, and ecosystem nodes need to do a good job of security audit for application contracts.

Ⅳ. Establishing full nodes

The establishment of full nodes in the ecosystem projects will help the network to have stronger resistance to attacks.

The above four procedures are the initial rules. Detailed rules for the “eco-node” paradigm can be proposed in the proposal system and discussed extensively, and eventually, a community consensus on the “eco-node” will be embedded in the QNG network rules in the economic model 2.0 iteration.

Activate EVM

The planned development path of the Umayyad 2.0 network is to update the network to a QNG network compatible with various VMs at the time of its creation, demonstrating the smoothness and high performance of the next-generation network, while matching the design in terms of governance norms and economic incentives.

Currently, several ecosystem projects have expressed their willingness to access the QNG network ahead of schedule. Considering the comprehensive factors such as the introduction of new roles in the network and the needs of the ecosystem, the technically compatible EVM function testing has stabilized, and the operational access mechanism for the ecosystem nodes has been established. When the ecosystem nodes meet the following two conditions, they will activate the EVM function and upgrade to the QNG network ahead of schedule

Eco-node access mechanism.

I.

Each eco-node Staking ≥ 100,000 Meer, both Guardian Pool and Glory Pool are optional.

Ⅱ.

All ecosystem nodes Staking total ≥ 2 million Meer.

Eco-nodes are required to publicize the Staking address and quantity to the whole community to verify the authenticity of the pledge and to confirm whether the number of activated EVMs is satisfied.

Before the creation of Umayyad 2.0, when the total Staking volume of the eco-node is ≥ 2 million Meer, the EVM function will be activated and the QNG network will be launched early.

When the total Staking volume of eco-nodes < 2 million Meer and the EVM function will not be activated, projects that have become “eco-nodes” according to the rules can still get the rights and benefits related to Staking lock. We are also working with Qitmeer Team, POW community and Qitmeer partners to strengthen the testing, looking forward to the arrival of Umayyad 2.0 and actively participating in the network construction and governance.

The meaning of standardizing eco-nodes

I. For the network

Good guidance and regulation of eco-nodes can establish a more positive and healthy network environment, and remove the falsehoods to make more powerful and high-quality eco-projects stay on the network to develop together.

With the competition of winners and losers, the incentive of eco-fund can match the quality eco-projects, improve the efficiency of resource utilization, and realize the win-win situation for both the underlying network and the whole ecosystem

II. Ecosystem

Becoming an ecosystem node can get the support of multiple resources such as technical assistance, operation support and eco-fund from the main network; ecosystem projects that just entered the blockchain industry can also stand on the shoulders of giants under the reliance and incubation of the main network.

The quality ecosystem will be recognized by the community and develop for a long time, and become a huge crypto economy with the Qitmeer Network ecosystem and these quality projects can join forces with each other to stimulate ecosystem innovations to bring potential value to the network.

III. For Coin Holders

Participating in a strong crypto-economy composed of quality ecosystems will give them a higher probability of investment success and the return on investment will increase as the value of the network grows.

Properly guiding and regulating eco-nodes is significant for the sustainable and healthy development of a blockchain network in its growth phase.

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Qitmeer Network

Qitmeer Network is the next generation payment network infrastructure based on BlockDAG technology.