The 10th Digest: Understanding Qnode Protocol and How Anyone can Mint (Increase) the Supply of Qnode.Defi (QND)

WHAT IS SIDE-CHAIN AND PARENT-CHAIN ?

Simply put, A side-chain is a separate blockchain that is attached to its parent blockchain (main-chain) using a two-way peg. The two-way peg enables interchange-ability of assets at a predetermined rate between the parent blockchain and the side-chain network. The original blockchain is usually referred to as the ‘main chain’ and all additional blockchains are referred to as ‘side-chains’.

HOW DOES THIS WORK FOR QNC & QND?

Will there be more QND in circulation soon? Yes! But that can only happen when a user (like you) implements an algorithmic blockchain transaction from the parent-chain (Qnode Blockchain) to the side-chain (Qnode.Defi) or a reverse transaction from the Side-chain to the parent chain. And because Qnode Protocol is a dual chain development, all this can be possible via the algorithmic bridge.

WHAT IS THE BACKING BLOCKCHAIN?

QnodeCoin is a standalone (3rd generation, traditional) blockchain built from the branch fork of Dash (v0.14). It uses an X11 — Proof Of Work (PoW) algorithm with a PoSe (Proof of Service) — Masternode consensus for security of the blocks and democratic governance.
Below are the specifications of Qnode blockchain:
Name (Ticker): QnodeCoin (QNC)
Algorithm: X11 (v0.14 Source)
Masternode Collateral: 20,000 QNC
Finite Supply: 24,624,000 QNC (it will require 65 years lifetime to forge)
B-Halving: Every 210,240 blocks (halving happens every 2 years)
Avg. Block Spacing and Blocks per Day: 5mins and 288 blocks/Day
Tx / MN Confirm: 2 blocks/Tx and 5 blocks/MN
Tx InstantSend: 2–3 Seconds
Initial Block Reward: 50 QNC/Block
Block Reward share: (MN — 55%, Miners — 35%, S-block — 10%).

WHO SHARES THE BLOCK REWARDS ON QNC?

With the specifications stated above, it means that the Qnode blockchain forges averagely 288 blocks daily, if all miners remains active (i.e 288 blocks equals 14,400 QNC daily). Who shares this coins? Unlike bitcoin network, where only the miners share 100% of the block rewards. On the Qnode blockchain, there are two tiers with adequate governance.

DO YOU WISH YOU OWN A PERSONAL MASTERNODE ON THE QNODE NETWORK? AND HOW DOES THIS HELP YOU MINT NEW QNODE.DEFI (QND)?

This is why we wrote this article. 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

BENEFITS:

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.

HOW DOES MY QNODECOIN (QNC) GET CONVERTED TO QNODE.DEFI (QND) AND VICE VERSA?

This is where the algorithmic bridge comes in. At the beginning of this article, we explained parent-chain and side-chain. The algorithmic bridge operates a state of channel interactions as you will see in the illustrations below:

Fig 1.0 State of channels
Fig 2.0 algorithmic Interaction

HOW TO DETERMINE THE VALUE OF MY ASSETS? EITHER QNC OR QND?

This is purely determined by you depending on the resources you have spent to acquire your wealth. But we shall again explain the algorithmic computation for your safety. For the Qnode Protocol team, technology is important to us, but most time, some community members do not place proper value on this tech and just focus on their invested bucks.
We have heard you or some people say, I put 100$ now my investment is $10 worth. We encourage you to carefully estimate the worth of your asset so that you don’t loose money.

THE ASSUMPTION

Let make an assumption here, Assuming the value of QND is 1 USD. The market will adjust on exchanges where QNC is listed. This is because, 1 QND = 3.2 QNC (forever). Mathematically if 1 QND is $1, then community can be sure to value their QNC to be $0.3125 (i.e. $1/3.2). The QND tokenization utilizes the Qnode blockchain and vice-versa. Hence, QNC value is linked to QND via the algorithmic governance bridge and QND utility is incentivized for On-chain options (like hardware mining, masternodes rewards, proposal issuance and voting).

lastly, the team is currently developing the algorithmic bridge and soon will be public. Its a count down here on 👉 this page

Article Credits:

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.
Stay tuned

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Qnode Protocol

Qnode Protocol

The Protocol is an evolving tech development comprising Qnode Blockchain & its DeFi Layer on Binance Smart Chain for Incentivized Nodes & Algorithmic Governance