PROTOCOL TRANSITION AND MERGER ON THE QNODE BLOCKCHAIN.
The Transition from X11-PoW to Pure-PoS on Qnode Blockchain.
The QNG is proposing a change in consensus and algorithm to the Qnode Blockchain. We dimmed it fit that a transition is required from the current X11-PoW (Proof of work) to the proposed Pure-PoS (Pure Proof of Stake) algorithm of Qnodecoin.
For a while now, the QNC project has suffered neglect as a non-Ico project, because the dev-team has been responsible to it’s funding and development. As the LeadDev, I have made my very best support to keep QNC running. We have seen serious downtime to the mining of the protocol and pending transaction that took so long because of offline miners. Hence, we are proposing the transition to a Pure-PoS.
We are therefore making this publication, seeking to form a consortium: where all miners, masternoders and holders of XQN can poolfunds together for the improvement of the protocol and establishment of a sustainable DAO ( i.e a foundation).
REASONS FOR PROTOCOL TRANSITION:
#1. Removal of false masternodes.
#2. Removal ASIC mining barriers.
#3. Eliminate explorer downtime.
#4. Enable Hybrid Staking for all.
#5. Establish more secured chain.
#6. Enable Coin/token iteration.
#7. Promote coin hodling via node staking.
#8. Form the Qnode Foundation.
TRANSITION & MERGER DETAILS
Upon deployment, the Qnodecoin will be pre-mined on the new algorithm; Pure-PoS with a change in SUPPLY & TICKER.
#1. The protocol will retain its old name as: Qnodecoin
#2. The new Qnodecoin {Pure-PoS} ticker will be adjusted to XQN
#3. The Qnodecoin (XQN) on the native chain will forge all pre-mined supply in the first 1,000 blocks during the initial PoW phase.
#4. All Old QNC will be swapped in ratio 3.2 QNC (PoW) to 1 XQN (PPoS).
#5. 10,000,000 XQN will be premined on Pure-PoS chain and distributed to old QNC holders according to ratio 3.2:1
#6. Qnodecoin (PPoS) addresses will generate addresses with letter X.
#7. All Old Subnet Qnode (XQN) token on AVAXC will be swapped 1:1 to Qnodecoin (XQN) on AVAXC.
#8. Exchange integration will delist old QNC & old XQN (AVAX) to enable & merge new Qnodecoin (XQN) network and AVAXC Chain Contract.
#9. At-least two market: USDT & DOGE will be listed.
#10. Community members can stake XQN from the comfort of their PC or remote nodes with the core wallet to earn block rewards.
#11. No-more ASIC or Rig mining and master-nodes.
CONSORTIUM INVITATION
On the basis of all that has been explained above we are inviting all miners, master-node operators on Qnode Blockchain and holders of Subnet Qnode (XQN) on AVAXC to a consortium on telegram, where we discuss as key holders and take ownership of the blockchain.
Telegram: https://t.me/+mXBY_mogePJkYWM0
Let bring Qnodecoin to the next level.
Timeline for All Transition and Merger activities: 1-2 Months
Thanks for your anticipated co-operation.
