QLC Chain, a “next generation public chain for Decentralized Network-as-a-Service” recently launched its QLC token staking mechanism. The telecommunications focused project has also been attending industry events, such as the IEEE workshop at Hong Kong Baptist University and the Telco Blockchain Forum.
Cross-chain staking protocol launched
On June 7th, QLC Chain launched its cross-chain interoperable staking protocol, which it developed in coordination with the NEO Global Development team. Users who stake their NEP-5 QLC tokens in the QLC wallet will receive QLC Chain MainNet (Go-QLC) QGAS tokens as a reward. The amount of QLC tokens held in each wallet determines the amount of QGAS each user will receive.
In a conversation with NEO News Today, QLC Chain stated that “within 24 hours, the QLC Chain wallet received over 30 million QLC staked.” At the time of press, QLC Chain has over 35 million QLC staked.
QGAS is the native token of QLC Chain’s multidimensional block-lattice Network-as-a-Service platform. It is consumed when a communication service provider deploys its service on Go-QLC. A total of 100 million QGAS tokens will be released over 33 years, with a minting schedule of roughly 8,300 QGAS tokens daily.
Before the launch of staking, QLC Chain released “how to” guides that covered staking for QLC token holders, and staking as a Confidant owner. Additionally, the team uploaded a YouTube video to show the process step-by-step.
To learn more about tentative rewards for staking, users can visit a community-made staking calculator.
On June 10th, QLC Chain participated at an Institute of Electrical and Electronics Engineers (IEEE) workshop hosted by the Department of Computer Science at the Hong Kong Baptist University. QLC Chain core developer, Chris Zhao, delivered a presentation entitled the “Optimization of P2P Network Efficiency in Blockchain.”
QLC Chain told NEO News Today the presentation highlighted the “decentralized privacy protection platform, utilizing [a] P2P network, and advanced level of encryption.” Zhao used Confidant, a privacy-focused hardware and application package that allows users to host private chat networks and cloud storage, as an example in the presentation.
On June 11th, QLC Chain participated in the first Telco Blockchain Forum, claiming it was the only blockchain infrastructure partner at the event. At the forum, QLC Chain marketing and PR director, Toya Zhang, delivered a presentation entitled “How Blockchain Empowers Telecom Infrastructure Sharing.”
Topics of the forum included telco opportunities in blockchain, telecom infrastructure sharing, internet of things (IoT) and smart cities, blockchain consortiums, and real-life case studies. The forum also garnered attendance from various telecom industry names such as GSMA, ITU, Deutsche Telekom, BT, Telia, TIM, and Vodafone.
To learn more about GO-QLC, visit the explorer at:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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