A wrap-up of QLC Chain in Q2, 2020
Enterprise-level solutions
- QLC Chain Enterprise Association: Data on Demand Settlement platform for global operators
The most recent development milestone was hit In late June, a data-on-demand settlement platform that provides the ability to order bandwidth-on-demand through Sonata API and settle Data-on-Demand automatically utilising QLC Chain. The platform is expected to process inter-carrier settlements in a trustable, auditable and automated manner and enable frictionless on demand commerce and federated networks for the telecom service providers.
A review of the QLC public chain development in Q2
Completed (Mar 2nd — June 30th)
Privacy
- Designed and implemented QLC Chain’s privacy of enterprise transaction
DoD smart contract implementation
- Implement DoD settlement features,
- Implemented DoD settlement smart contract,
- Improve DoD settlement smart contract process deployment test environment
- Optimized DoD settlement smart contract storage and invoice
P2P network:
- Implemented gRPC interface, framework
- Implemented gRPC server function
Commercial Layer:
- Implemented Sonata API server/client,
- Implement sonata client change product order state,
- Implement sonata server product order interface,
- deployment of ptm, Sorting out PTM data processing flow
There are currently eight global leading service providers and one multinational enterprise on track to be production-ready for deploying the Sonata APIs to automate the ordering process by the end of June 2020.
QLC Chain and the operator partner have reached a handful of agreements on the future cooperation in the long run, including the settlement fees occurred from each on-chain transaction record from utilizing the platform and having multiple partner operators host QLC Chain oracle nodes.
As with the enhanced adoption of QLC Chain data-on-demand platform by industrial service providers and customers, the QLC network will expand its reach at an accelerated pace and consolidate its positioning as the infrastructure-level blockchain-enabled technology with a focus on settlement and billing solutions for global operators.
2. Phased progress in decentralized oracle nodes for communication network data
QLC Chain’s virtual router function test went successful, as the phased milestone achieved towards deployment of the decentralized oracle node network.
Virtual router analyzes the communication network data from CDR and log files generated by network gateway. It supports reading data from CDR and log files or through API interface, from which the operator hosting QLC Chain oracle nodes can analyze then call QLC Chain RPC interface to feed the communication network data to the blockchain. The smart contract on Blockchain will process the data and report the network service performance.
It is anticipated that more operators will be involved in the test hosting QLC Chain oracle nodes.
3. Bridging the A2P SMS settlement and clearance business between Montnets and PCCW Global on QLC Chain
QLC Chain has connected Montnets A2P SMS International business with the PCCW Global A2P SMS business, the two parties will jointly adopt the QLC Chain-based platform for A2P SMS settlement and clearance.
Partnered with the Montnets Group in 2018 , QLC Chain developed the QLC Chain-based SMS business platform to enable global SMS distribution and resource exchange. In this platform, ‘Settlement as Mining’ is to be implemented combining the QLC token economy with inter-operator communication service.
4. Collaboration with Montnets and their partner: QLC Chain-enabled mobile wallet for Montnets IP video SMS targeting 62 millions Indonesia farmers
The QLC Chain-enabled mobile wallet will be firstly launched in the Indonesian market by Montnets. The wallet was designed with a focus on its business model where the token value of QLC is pegged to the use of advertising reward service.
5. QLC Chain team proposed the network DID communication authentication solution to theMEF member partners
Lately QLC Chain proposed the blockchain-based DID (Decentralized ID) communication authentication solution to MEF during an internal discussion. The solution/proposal is intended to authenticate, authorize, and access blockchain identities and security properties in network services such as SD-WAN/MPLS/cellular network/5G slicing network. The network framework incorporates blockchain and smart contracts as its fundamental architectural components for providing the secure access service edge (SASE). SASE is considered as the next generation VPN network technology in the upcoming 5 years.
The hope is that the technology will be widely DEPLOYED and REPLACE many of the proxy usages that rely on opaque security of popular social media sites (i.e. Facebook, and Google).
The full proposal has been published to the public and is accessible via the QLC Chain Github repository https://github.com/qlcchain/DIBS-Whitepaper.
Moving forward, further discussions on the proposal are expected and we will keep our community posted.
Customer oriented products updates
- QLC Chain passive earnings landscape: DeFi rating and voting
Since the previous upgrade of our public chain at the end of 2019, the new iteration of QLC Chain utilizes the dual consensus protocols of DPoS and PoW which unify the computational power jointly by mining and voting nodes. A voting node receives part of the QGas rewards from the mining rewards. As a common active account within the DPoS consensus, a stakeholder is also entitled to receive QGas rewards from their stakings.
QLC Chain DPoS-based passive income:
- QGas rewards from staking: Stakeholder, voting node and mining node receive QGas rewards from staked QLC, daily total distribution amount is 8302.
- Voting node receives QGas incentives from mining, incentive amount is proportional to its voting power
- Q-Wallet free lending of 1500 QLC for staking with QGas rewards redeemable enforced by the separate smart contract on the QLC Chain
On top of the staking rewards, Q-Wallet as the first mobile crypto wallet of the QLC Chain product matrix supporting digital asset management, discounted mobile recharge and diverse passive earnings, has evolved into a comprehensive resource exchange platform which includes an asset exchange, network resource exchange, and now, DeFi token exchange.
The most recent Q-Wallet update released in late June further enhanced its in-app OTC platform into a DeFi token exchange supporting DeFi token swap between COMP/cDAI, MKR/cDAI, COMP/DAI. MKR/DAI. What’s more, QGas is now tradable for COMP, MKR. cDAI, DAI. The addition of QGas/DeFi tokens eliminates the hurdle for the QLC Chain community to instantly get DeFi tokens and hop on the DeFi borrowing and lending platforms for lucrative interest earnings.
On the other side, Q-Wallet OTC also provides liquidity to the billions of USD market value of DeFi protocols, applications and dApps with their users. With ZERO commission fees, minimalistic trading experience and one-click transactions, Q-Wallet is expected to grow into the decentralized DeFi marketplace that enables trustless, interoperable trading operation, offers liquidity with incentives and supports real-time metrics tracking and news.
Q-Wallet DeFi development path
- A metrics tracking hub, analytics tool, news engine. Now pulling the total value locked in the smart contracts of the starred DeFi products and protocols. Q-Wallet users with QLC balance in their Q-Wallet Nep-5 addresses are eligible to rate each DeFi product based on their own experience.
- DeFi token exchange supporting DeFi token swap and QGas/DeFi token trading pairs.
- DeFi Rate Platform where users can rate and review DeFi protocols and applications within a decentralized architecture, with QLC or QGas being utilized as the rating or governance token.
2. Q-Wallet exponential user acquisition from April to June, total active users exceeded 78K!
With Q-Wallet’s market expansion to Myanmar, Indonesia, Philippines, India, the exponential user acquisition in the past 3 months has contributed to the rapid growth in the QLC Chain wallet addresses, on-chain transactions, total staking volume and the range of QGas hodlers. Total Q-Wallet downloads has surpassed 120K with nearly 78K monthly active users.
The recent surge in new downloads results from the several AMA campaigns QLC Chain conducted jointly with the top-tier crypto communities, dozens of promotional Tweets by the Q-Wallet influencer users and youtube guide videos originally created by the most active, supportive users from India, Indonesia, Bangladesh, U.S, etc.,
Q-Wallet’s Covid-19 fighter bounty has been the major incentive that attracted new users. The feature was launched on April 22nd and designed to encourage the social-distancing practitioners to follow the Covid-19 status and stay isolated in order to limit the spread of Covid-19. Two types of bounty QGas daily bounty and two-week QLC bounty were provided to benefit its worldwide users, 13K users have ever claimed QGas, on average one unique user claimed 7.9 times.
Given QGas being accrued among Q-Wallet users, we also saw an increase in users having the intention to group recharge to their mobile phone, lately the users who joined group recharge and sent QGas as discount token raised by 230%, the total number of successful orders grew by 35% compared with that in Q1, 2020.
QGas consumption as a fuel token in more use scenarios has been under development in Q-Wallet.
