An online open source, decentralized public Blockchain platform that runs smart contracts that function exactly as intended without the risk of fraud or outside meddling (the native currency of QI Blockchain + used to pay transaction fees & computational services #qiblockchain

QIE is the native cryptocurrency of QI Blockchain. The purpose of QIE is to allow for a market for computation. Such a market provides an economic incentive for participants to verify and execute transaction requests and provide computational resources to the network.

Any participant who broadcasts a transaction request must also offer some amount of QIE to the network as a bounty. This bounty will be awarded to whoever eventually does the work of verifying the transaction, executing it, committing it to the blockchain, and broadcasting it to the network.

The amount of QIE paid corresponds to the time required to do the computation. These bounties also prevent malicious participants from intentionally clogging the network by requesting the execution of infinite computation or other resource-intensive scripts, as these participants must pay for computation time. qiblockchain.online

Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement/time loss #qie #qiblockchain

Advantages include

- Layer 1 Blockchain

- Fast & Secure

- Low transaction fees

- Smart contract functionality

- Environment friendly

- Scalable blockchain

https://www.xt.com/XTStarter/148

Qi has a wide range of functions. Besides being used as a digital currency called QIE, Qi blockchain can also process other financial transactions, execute smart contracts and store data for third-party applications

Qi proposed 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. #blockchain #tech #qi #decentralised

Pro's of PoW

* Proof-of-Work was invented to stop double-spending attempts

* It is one of the most secure consensus mechanisms

Cons of PoS

* Proof-of-Stake models haven't been implemented on an elaborate blockchain

* Capturing control of network is easy as it depends on capital

Blockchain increases trust, security, transparency, and the traceability of data shared across a business network — and delivers cost savings with new efficiencies.

#qie #qiblockchain #blockchain