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QLC Chain recently launched its TestNet, following the launch of its multidimensional block lattice wallet and explorer. QLC Chain is now an open source blockchain that “applies the virtual machine to manage and support integrated smart contracts.” In addition, its public chain utilizes a dual consensus model comprised of Delegated Proof of Stake (DPoS) and Shannon Consensus.

The QLC Chain enables network users to monetize their own network resources, namely their bandwidth, to earn cryptocurrency by sharing their network resources. QLC Chain’s mission is to build a decentralized ledger for network services and provide a more secured, and on-demand online experience.

As of October 10th, 2018, QLC’s internal testing and community-exclusive testing show the network capable of handling 3,500 transactions per second. 

Moving forward, the QLC Chain development team will focus on building QLC nodes in Golang, the QLC WASM virtual machine, QLC data storage nodes, and QLC oracle nodes.

For users interested in the QLC Chain source codes, visit the following links:

QLC Chain AMA

Following the launch of its TestNet, the QLC Chain team held an Ask Me Anything (AMA) on Reddit. Questions mostly surrounded the development and testing of the TestNet, the QLC Chain roadmap, and next steps.

The QLC Chain TestNet is based off NANO’s block lattice, and was tested using 7 common nodes, 2 voting nodes, 1 Pow server, and a set of wallets and browser servers.

When asked about the challenges encountered during the development of the TestNet chain, the team said there were two main problems. First, “finding the balance between TPS and the Multidimensional Block Lattice, as well as integrating it with the virtual machine.” Second, was “integrating the storage node with Shannon Consensus.”

Regarding the launch of the QLC Chain MainNet, the development team is working hard to launch by the end of the year. However, there may be a delay as efforts will need to be increased to deploy functions in conjunction with QLC Chain’s partner, MontNets. NEO News Today previously covered the partnership. MontNets’ business includes 2.1 billion sms text messages annually, which means the demand could require about 4 billion blocks generated on the QLC public chain.

Currently, there are no updates regarding the QLC Chain tokenization model, and the team is researching various options to serve as the right solution.

Additionally, other than handing off the WinQ decentralized application (dApp) to the open-source dApp community, Playblockz Collective, there are no major updates regarding WinQ.

Moving forward, QLC Chain will focus on attracting more developer communities to build dApps, end users on WinQ, partnerships with enterprises, and developing the community governance program.

To read the whole AMA summary, visit the following link:

https://medium.com/qlc-chain/ama-recap-qlc-chain-testnet-launch-to-realize-monetization-of-network-bandwidth-86b86661726f

For more information about QLC Chain visit one of the links below.