QNODE PROTOCOL: Algorithmic Bridge (Live) And How to Use it…
It’s a journey for us, and we know a lot of community members have seated and waited for days, weeks and months. But here we are with the good news for you as the First Algorithmic Inter-chain Governance Protocol ever developed, between a 3rd generation layered blockchain (Qnode Blockchain) and its smart contract layer on Binance Smart Chain (4th generation in our estimation) — the Qnode.Defi is live.
Technology is important to us and our team have not given up on the development. We had challenges in this new terrain, But we have succeeded to build and merge a custom fork of the DASH (v0.14) branch of blockchain (i.e Qnode Blockchain — QNC) to its smart on BSC (i.e Qnode.Defi — QND). These are two different cryptocurrencies, yet they move each other.
The Qnode.Defi is the First Algorithmic, Inter-chain and governance driven Defi token with an underlying x11 network via smart contract on Binance Smart Chain. The Qnode Protocol has combined Traditional Blockchain + Decentralize finance in one piece.
Hence, Community cannot just mine the native blockchain, but also mint Qnode.Defi (QND) token and iterate both assets algorithmically.
The operation of the Algorithmic Bridge is a state of channel model but slightly different from what is usual, because it functions algorithmically with two different cryptocurrencies, on two separate blockchains with an algorithmic formula for iteration. This was formally explained 👉 here
HOW TO USE THE ALGORITHMIC BRIDGE FROM NATIVE BLOCKCHAIN TO BSC NETWORK
Before a user can use the bridge, its either of these options:
A. The user have QnodeCoin (QNC) in his CoreWallet and want to iterate some coins to mints Qnode.Defi (QND).
B. The user have Qnode.Defi (QND) tokens in his Binance Smart Chain wallets (Trust Wallet or SafePal) and want to iterate some coins in other to mints new Qnode.Defi (QND) into circulation.
Step #1: launch Your QnodeCoin Core Wallet
Download CoreWallet from https://qngnode.cc/#wallets and make your wallet ready with ready coins: Minimum on iteration is 5000 QNC
Step #2: Visit Algorithmic Bridge
Visit the algorithmic bridge and follow the instruction on the swap QnodeCoin to Qnode.Defi as seen below:
Step #3: Copy the generated QnodeCoin address and make your send transaction from QnodeCoin CoreWallet or Exchange Wallet (like Bisten or Bitsails)
Note: Do not send less than 5000.1 QNC and include the fee (0.1 QNC) for the bridge e.g: 5000.1 QNC, 6459.1 QNC etc. Sending lower that expected will result in loss of your asset. See example of transaction below:
Note: Tunneling on Qnode Blockchain:
Please, Take note, A user is to wait for the forging of atleast 3 blocks on the Qnode Blockchain to trigger a tunneling on the algorithmic bridge and this is subject to the activities of miners on the blockchain. The Qnode Blockchain does not exceed 288 new governance blocks daily with time stamp of 5mins. This is a security measure we built into the facility
Patiently wait as your bsc wallet will be automatically funded with newly minted Qnode.Defi (QND) tokens. Below is a screenshot of a transaction hash on the bridge explorer:
HOW TO USE THE ALGORITHMIC BRIDGE FROM BSC NETWORK TO NATIVE BLOCKCHAIN
STEP #1: launch Your BSC wallet (TrustWallet or SafePal)
Be sure to have above 1562.5 QND balance in your wallet. The governance minimum for iteration is 1562.5 plus a bridge fee (1 QND).
Step #2: Visit Algorithmic Bridge
Visit the algorithmic bridge and follow the instruction on the swap Qnode.Defi to QnodeCoin as seen below:
👉 Specify QnodeCoin address you wish to receive the QNC and the Qnode.Defi Address from which you are sending QND, in the the fields below and clicking on the 👉establish tunnel👈 button to create a tunnel.
👉 Finally send the amount of QND you wish to swap to the Bridge’s Qnode.Defi address shown at the bottom of the page and the bridge will automatically iterate in the ratio of 3.2 QNC per QND in reverse order.
Do not Transfer less than 1562.5 QND + Fee (1) = 1563.5 QND
Within, 10–15seconds the bridge will tunnel your QND to QNC and it would also require 3 block height on the Qnode Blockchain for transaction to be successfully confirmed and written to blockchain.
We have just delivered into your hands the ultimate goal of the Qnode Protocol. You can now iterate QnodeCoin to Qnode.Defi and vice versa. This is an opportunity for miners to mint new Qnode.Defi and also, the opportunity for Qnode.Defi holders to swap QND for QNC and thereafter deploy a master-node on the blockchain. At the time of this publication, there are about 150 MASTER-NODES on the Qnode Blockchain.
DO YOU WISH TO OWN A PERSONAL MASTERNODE ON THE QNODE NETWORK? AND HOW DOES THIS HELP YOU MINT NEW QNODE.DEFI (QND)?
It is very easy to join the consensus of the Qnode Network without coding. With a $6 — $12 six months server plan on pecunia or ihostmn platforms, anyone can deploy a masternode and start earning the block rewards.
HOW DOES SOMEONE RUN A MASTERNODE?
To understand why masternodes are “incentivized,” you should know how someone runs this type of node and what they get out of it. NO CODING REQUIRED
REQUIREMENT: To run a masternode, you need to have a PC (Personal Computer), 20,000 QNC is required as network collateral and a dedicated server (either on pecunia or ihostmn). Plus 1 QNC for fees. An operator needs to continuously hold this collateral to continue running a masternode and receiving transaction fees with block rewards on the network.
Click here 👉 To Depoy a Masternode (Without Coding)
Click here 👉 To, Depoy a Masternode (With Coding Guide)
If you decide to run a masternode, your node earns 55% shares daily from the accumulated number of blocks forged. And the governance protocol ensures automated distribution of rewards to all masternodes on the network.
Goodluck every, and make good use of the Qnode DAO. Also, there is a development ongoing in Fishfactory Protocol, and the goal is Qnode Protocol community will own a farm acreage in this utility project. And at launch, 1billion XFP will be distributed to all QND holders from 3000 QND and above (T&C applies).
From the Team:
We appreciate all who have trusted us since the official launch of Qnode Blockchain and committed funds to the Qnode Protocol development. We have been here long enough and the delivery of the protocol goals is top priority. We shall meet every fit. And other products are being develop already.