Qcity

Qcity is a cryptocurrency for market distribution with proven reliability that will implement a business platform using the patented secure hybrid consensus algorithm main net.

Whitepaper

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Interest lvl

NA

Updated: Jan 10, 2019

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Highest

5/5 • 2 votes

Ticker

QCTN

Type

Utility-token

Token standard

ERC20

FoundedKorea, Republic of

Registration countryKorea, Republic of

Registration year2018

Office address#1911 298, Beotkkot-ro, Geumcheon-gu, Seoul, Republic of Korea

What is Qcity

Qcity is a project that was directly planned by Qnapse, a company specializing in the development of block chain services made up of fin-tech experts such as point & pay, settlement, and security engineers. Within the Q-platform operated as a private block chain, it forms a collaborative community without intermediaries. Using smart contracts, it is possible to fund and operate mutual loans between p2p-type merchants and share infrastructure, manpower and materials. The Q-platform\'s member-stores become each node, able to participate directly in the platform operating and making decisions for mutual benefit receiving various services such as joint purchase or contract, and generate profits. Q-Platform will provide various services that were originally outsourced. Members will be able to share and find such services within the platform that can be sourced and delivered to the members of Q-city. Qcity main-net and related services were developed in November 2017.

The reliability of the block and network has been reviewed by operating the main-net stably for more than one year. The development team proposed a new algorithm called Proof of Online (PoO), which added a process of verifying that the block was created online as a precaution against BWA(Block Withholding Attack), a kind of 51% attack. PoO was registered by the Korean Intellectual Property Office. Qcity has applied PoS+PoW+PoO the consensus algorithm to compensate for the disadvantages of the single method PoW.  

Value to pursue

In order to achieve a smooth commercial distribution, a blockchain-based infrastructure system for distribution with the purpose of cryptocurrency is required. Qcoin pursues the value of Qcity as an easy, fast, and inexpensive method to distribute a lot of cryptocurrency on the market, and through continuous research and development, “improve the quality of life for many people!".

Cryptocurrency Distribution

Definition

Cryptocurrency distribution means that the current cryptocurrencies cannot be circulated smoothly out of the market, and they tend to have an investment property depending on the price fluctuation like stock market stocks. Therefore, it is one of the core essence of cryptocurrency and aiming to achieve the purpose of distribution, lowering or eliminating obstacles and promoting smooth circulation of the cryptocurrency.

It is the area that makes platform or ecosystem through development of related infrastructure system.

Direction

After studying various methods to solve two core problems of the price fluctuation that impedes the circulation of the cryptocurrency and the delay of payment confirmation. For this purpose, we develop two kinds of cryptograms which are complementary linked to Qcity and Qcoin. Such as Qcity been traded on the exchange and Qcoin distributed on the market. The activation of Qcoin within the Q-platform increased the demand of Qcity, by using Qcity as a parameter for the global use of Qcoin, we overcome the disadvantages of Qcoin’s localization tendency

Firstly, Qcity is a cryptocurrency that is traded on the exchange like existing cryptocurrency, and Qcoin solves the problem of price volatility and the delay of payment time by maintaining a fixed value of 1:1 with each local currency. Qcity is a utility cryptocurrency that built on the Q-platform as a blockchain-based business platform, and is used within the Q-platform to create separate trading vehicle called Qcoin. At the Q-platform, merchants will deposit Qcity into the deductible fund under the autonomous protocol and deposit transaction service fee will be paid by Qcity.

Infrastructure Systems

Generally, trading cryptocurrency is active on the coin exchange, but it is not common to trade the cryptocurrency with general public who are unfamiliar with the concept and retailers do not accept the cryptocurrency as a form of payment, There is a need for a relevant infrastructure system, such as an easy-to-use interface payment system that allows retailers and customers to naturally deal in cryptocurrency. In addition, if a cryptocurrency has a specific purpose, a related infrastructure system based on a blockchain must be in place, Qnapse team constructs the following infrastructure system through this project.