The whole network ecology, to create the underlying advantages of Web3.0
Qitmeer Network is a PoW public chain built on the MeerDAG protocol. Its advantages lie in the generalization of the protocol to Bitcoin consensus and its unique data structure.
Unlike the single-chain structure adopted by Bitcoin,➡️ MeerDAG adopts a criss-crossing Directed Acyclic Graph ( DAG ) structure, which can support more concurrent transaction processing, resulting in higher throughput and faster speed.
In the MeerDAG protocol, each block can point to multiple blocks. This design can effectively reduce the confirmation time of transactions and also reduce energy consumption. Since Ⓜ️eerDAG has no additional assumptions, its security is guaranteed, comparable to Bitcoin.
In addition, Qitmeer Network also has the characteristics of decentralization, which means that the public chain is not controlled by a single entity, ensuring the fairness and transparency of transactions.
🔮 Qitmeer Network has demonstrated outstanding advantages in security, speed, and throughput, making it more reliable and trustworthy.
📚Qitmeer under the MeerDAG protocol
High-speed transactions, high throughput
The block speed of Bitcoin is slow. Every 10 minutes out a block, each block can accommodate 4000 transactions. That is, the TPS is about 7, which is far from meeting the application of high concurrency. 📍Qitmeer eliminates security as a bottleneck for high throughput with MeerDAG, optimizing bandwidth costs and network infrastructure for high throughput.
At the same time, the innovative MeerDAG protocol greatly improves transmission performance, reaching far more than the system throughput of bitcoin, and in the ideal state of bandwidth and propagation delay, TPS can reach 4000+, which is a new public chain with the ability to undertake hundreds of millions of users in the industry.
Decentralized mining
For miners, after halving many times, it is very difficult to mine bitcoin with only their own computing power. Thanks to the scale effect, consensus power is concentrated in the hands of a few large mining pools.
🔖Qitmeer has high block output speed under the MeerDAG protocol, and is optimized in memory pool, block template, and GBT, which enhances stability and efficiency, reduces the difficulty of mining, and helps to realize decentralization of mining.
📚Multi-network, multi-chain layout
Layer1 + Layer2 Multi -layer network structure
With the development of blockchain, the ecosystem of blockchain shows a spurt of development. Defi, GameFi, metauniverse and other projects emerge endlessly, and these different Dapps, for the performance of a chain, speed and other needs, are not the same.📯
These different needs of the application are all integrated into a network, will increase the load of the network, resulting in congestion and high gas rates, Can the application transactions with different needs be dispersed across the network with different needs? To solve this problem.
🔋Qitmeer opens the innovative Layer1+Layer2 multi-layer network structure, providing a stable and secure value layer and a more flexible and scalable application layer.
As the underlying infrastructure, Layer1 provides stable network security and basic transaction functions,🪺 and Layer2 can better support more application scenarios, including payment, 🏎games, decentralized transactions, etc., providing more choices and convenience for users and developers.
In August 2022, the QNG Network of Qitmeer Network was officially activated and launched, and the QNG network is fully compatible with EVM, which innovatively realizes the 1:1 equal quality exchange between the QNG network and the main chain at any time.🎊
So that the application scenario of the native token MEER is no longer limited to a certain public chain. Instead, it can bring the main chain assets into more networks through cross-chain, participate in the ecology of other networks, and feed more ecology back to itself.
In the planning of Qitmeer, transactions of DeFi applications with low speed and efficiency requirements are completed on the QNG network, while transactions of applications requiring fast and instant transactions have higher performance and will be placed on the new subnet Amana network that has been planned.
The Amana Network is a core component of Qitmeer Network Layer2, which has been successfully launched as a test network. This network is a high speed subnet based on the PoA algorithm.
Although PoW is recognized as the most secure consensus mechanism and the reason for the adoption of the main chain of Qitmeer Network, ⚡️it does not have the characteristics of high scalability and cannot meet the ecological diversity of a hundred flowers on the chain.
Compared with the traditional consensus mechanism, the PoA mechanism of the Amana network is based on the reputation consensus mechanism, and the node nature is specified, which can minimize the possibility of evil of the verification node and save energy.
Amana network takes an average of 5 seconds to create a new block, and the transaction speed is extremely fast while having extremely low costs, which is suitable for scenarios that need to process a large number of transactions quickly, such as logistics, GameFi, etc., which lays a solid foundation for the development of high-demand applications in the subsequent Qitmeer Network.
Multi-chain development
In addition to Amana network, Flana network based on Rollup protocol, and Mizana network based on zero-knowledge proof are all under planning. Compared with other traditional public chains, Qitmeer will provide multiple Layer 2 expansion schemes to build a universal and flexible expansion framework.
They will comprehensively enhance the network ecology of Qitmeer Network in terms of transaction throughput, scalability, and privacy protection. 🌍Qitmeer will integrate multiple networks, and different operations in the same project can be executed in the corresponding subnet according to different needs, which is more efficient and cheaper.
Qitmeer will achieve a true full network ecology, and Qitmeer will become the underlying infrastructure of Web3.0 after full coverage, and the corresponding functions will also include high-frequency and efficient needs such as crypto asset payment and decentralized application construction.
🪺The next cycle of the crypto world will be a key moment for the crypto industry to land. An infrastructure that can undertake hundreds of millions of on-chain business behaviors will open the door to Web2.0 to Web3.0, so that users can minimize their learning costs, and Qitmeer is preparing for the arrival of hundreds of millions of Web3.0 users and enterprises in advance.
We will do our best under the new framework. At the same time, we will also strive to put forward our own thinking and optimal solutions to the current problems faced by blockchain. Please witness with us in the crypto world.
