PoO(Proof of Online) was registered by the Korean Intellectual Property Office.
Certificate of Patent №10–1921470
A brief description of PoO is Proof of Online, which adds a process to the consensus algorithm to verify that the block is created online.
The existing attacking method BWA (Block Withholding Attack) is a method that creates long blocks in offline state and does not propagate the result to the neighboring nodes, but then connects to the online after making profits and cancels existing transactions. Therefore, it is the core of the PoO to be able to prevent the creation of blocks longer than a certain length in the offline state from the beginning.
< PoS staking related NOTICE >
As previously announced, on November 1st, at 00:00UTC, Qcity applied POS to the consensus algorithm method.
If you want to participate in staking, you can download your QT wallet to your PC at qcitycoin.org and keep it online to check your reward for successful mining.
QT wallet does not have a backup keyword in the same form as a mobile wallet. This is to inform you that backing up your wallet is only possible through the Wallet.dat file….
Also, anyone who has used a QT wallet before can download a new version of QT from qcitycoin.org.
Qcity has modified the consensus algorithm to compensate for the disadvantages of the single method pow.
On October 21, Qcity changed to a hybrid system that uses both POS and POW in the existing POW system and released it to github.
On May 15, 2018, there was a case where the exchange was damaged by BWA, which is a 51% attack. While most of the existing problems were due to weaknesses in Exchange security, they were more shocking to people because they were double spending cases with 51% power, which theoretically feels possible, but not really happening.
The Qcity development team immediately analyzed the situation and simulated the same situation through the research test-net that was operated separately. As a result of the tests, most coins that have adopted the POW system can sufficiently generate such a situation. Especially, the middle-level…
“Qnapse” and the “Federation of Business Economics Organizations “signed a memorandum of understanding
Hello, this is Qcity,
Qnapse collaborate for the purpose with a group of professional businessmen and small and medium-sized businessmen to increase disposable income. We decided to cooperate with block chain technology based on money rotation and financing operation system.
Many people are surprised to see the possibility of Qcity with much anticipation. Everything is shared due to the transparency and honesty in those participated number of Ethereum. The reason is that it’s a coin with public interest and hence it’s getting more attractive in Qcity.
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We attended the ‘Deconomy Distributed Economic Forum’. It was held at the Vista Hall at Walker Hill Hotel in Seoul. Many various speakers and panels have participate and among them was Vitalik Buterin, the founder of Ethereum.
On this day, Wednesday on March 28, where it was in progress of signing of MOU between Hyupsung University and Qcity, Qnapse Co., Ltd. We have concluded a business agreement for promoting the block chain industry and promoting technologies.
Qcity continues to grow through independent business platform