Blockchains are the most critical aspect in the crypto space, and it is the efficiency and performance of the former that powers the whole ecosystem. We today have a bunch of blockchains, but each comes with its fair share of limitations. Bitcoin, for instance, has a low speed and consumes high energy. This is when experts and enthusiasts worldwide decided to develop a blockchain that eliminates all such problems and revolutionizes the space. It led to the creation of QI, the only blockchain the world will ever need.
QI is a fast and low-fee-based blockchain and public, open-source, decentralized platform that runs smart contracts. Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They are typically used to automate an agreement’s execution so that all participants can be immediately sure of the outcome, without any intermediary’s involvement or time loss. Experts believe smart contracts have the power to replace the whole banking system as we know it today.
These smart contracts are written in code and run on the Hyperledger Besu network. The main difference between QI and other blockchain platforms is that QI can run smart contracts. QI also has its own cryptocurrency, called QIE. QIE is used to pay for gas, which is the transaction fee that miners charge to execute a contract. The QI blockchain is different from other blockchain platforms because it’s Turing-complete. This means that it can run any computer program, which makes QI very powerful and flexible and brings out its potential to revolutionize how we interact with the digital world. Qi is a scalable solution with very low transaction fees created for Finance.
QI, the best blockchain developed to date
Blockchain increases trust, security, transparency, and the traceability of data shared across a business network — and delivers cost savings with new efficiencies.
“Big and small companies alike have taken to digital assets and blockchain, with 77% of company executives claiming that not adopting blockchain would be a competitive disadvantage. “
Blockchain helps in the verification and traceability of multistep transactions needing verification and traceability. It can provide secure transactions, reduce compliance costs, and speed up data transfer processing. Blockchain technology can help contract management and audit the origin of a product. Qi plans to utilize blockchain technology not only for maintaining a decentralized payment network but also for storing computer code that can be used to power tamper-proof decentralized financial contracts and applications.
Qi has a wide range of functions. Besides being used as a digital currency, Qi can also process other financial transactions, execute smart contracts and store data for third-party applications.
QI Blockchain is furthermore an efficient, transparent, and secure way to store and share data. The data is stored in a decentralized manner, which makes it impossible for any single entity to control or tamper with the data. QI Blockchain is also scalable and can handle large amounts of data. It is a permissionless and decentralized platform that allows anyone to access and use it. With a local currency for the application and a decentralized POW (Proof of Work) blockchain, QI is able to create both fungible and non-fungible assets by employing RPC mechanisms. Qi provides low complexity mining allowing users to mine and earn Qie with a home PC. All details on how to mine Qie is provided on their website under developer resources.
- Layer 1 Blockchain
- Low transaction fees
- Smart contract functionality
- Environment friendly
- Scalable blockchain
When Bitcoin was first launched, the early miners and investors made over $2 billion. And with QI being an upgrade and offering better opportunities than Bitcoin, it would certainly be a profitable option, both in the short and long run.
So, start mining Qie today and build your dApps on the most sophisticated blockchain the world has ever seen!