Everything you wanted to know about QLC Chain Mainnet — AMA Summary on April 1
The AMA was held on QLC Chain Subreddit on April 1, the original thread can be found through this link. We also prepared this summary for you to get the gist:
Q: Will Montnets purchase the token from the market or from the team’s wallet?
A: QLC Chain signs $2 million USD sales MOU with Montnets. for purchasing QLC and QGAS token to deploy related communication service on QLC chain. The token will be purchased from the public market.
Q: When will they purchase it and how will they purchase it?
A: This question is out of my scope of knowledge, as I am also entitled to trade QLC in the open market. If I have such information, I can do insider trading
Q: Can you give details about the commercial previsions & impacts for Montnets and its affiliate partners (Baidu, Alibaba, Tencent, Bank Of China…) of using QLC? Then, how will that boost the token price?
A: To simplify the token economy, QLC is the main token on this chain and QGAS is the fuel token that will be consumed when accessing different services on the network. QLC staking to get QGas, staking to get voting power, and staking to run as a node.
Here is a comparison, you buy a candy company’s stock, and by holding the stock, you have a certain amount of candies every day. You may eat the candy, or others want to buy candy because they like to eat it. The candy can only be generated from holding the stock or buy from the secondary market.
In QLC Chain’s case, the more users onboard on the system, the more Q-gas consumed, the more QLC required for staking, which drives the demand of QLC.
Q: Which partners are you planning to bring on board or in discussion with already? Can you elaborate what Allen Li mentioned about Huawei Partnership in the group?
A Montnets and QLC are endeavouring to onboarding the clients, including the big enterprises you mentioned because they are the end consumer for the SMS Billing system.
In terms of the partners that bring on board, we can release the names yet. However, the familiar names of China enterprises are on the list.
So far, the partnerships are targeting communication service providers, financial services providers, and enterprises clients. Please introduce if you think they could take advantage of QLC’s technology, happy to have a conversation.
Huawei is one of the potential clients, anti-fraud is one of the benefits brought by the SMS billing system, this function tackles the existing industry pain points, and is exactly what they need, So QLC received positive feedbacks.
Q: How many nodes does GO-QLC have? How many are you targeting to have?
A: Initially 5 nodes by the time the Mainnet launched, including one from Montnets. Montnets consensus, which is the JV between Montnets and QLC Chain, will start nodes deployment in Greater China. As explained, we are a multidimentional block lattice structure, so every client is a transaction node. In terms of compliancing with dPoS consensus, we have voting nodes. We don’t set numbers because of the more the securer of the network. The miners' node system that we are introducing will be rewarded with QGas as well.
A systematic explanation can be found here. https://medium.com/qlc-chain/understanding-go-qlc-consensus-and-how-to-benefit-from-it-290bb4228292
Q: Will Raspberry pi also be included in a (future) release?
A: We have tested on the embedded platform and the nodes can run smoothly.
We haven’t done test on the Raspberry Pi, believe there is no problem with the performance of the Raspberry Pi as a node.
It is possible to release a version of the node released based on the embedded platform in the future.
Q: What are your objectives? We see a lot of people saying QLC should be at least in the top 100
A: Let’s be more ambitious than that. QLC is the infrastructure level chain, there will be consolidations when the standardization process of the Blockchain industry starts and QLC will hold the telecom standard. To streamline the digital life underpinned by blockchain and cryptocurrency, we need less than 20 chains, and QLC aims to be one of them.
Q: How to receive Q-Gas? Will wallet have to remain open and connected to network in order to receive QGAS airdrops? Or is it like NEO where you get gas no matter what?
A: To receive Q-Gas by staking QLC (there is another way to receive Q-Gas by mining), you need to first wait until May 28, and second stake your NEP-5 QLC for more than 6 months through the GO-QLC wallet. The wallet current has a web version and desktop version will be available before May 28. After the staking, you will receive the corresponding number of QGAS on a daily basis.
No, you don’t need to remain the wallet open to receive QGAS
Q: About miner nodes. To run a miner node you need 1 million QLC. Will this 1 million have to be in one single wallet? Or is there a way perhaps where a small group of people could pool their resources and run a miner node while still keeping control of their tokens?
A: The current stage there is no pool options available, the team will think about it and look for solutions. To run a miner node, you need to stake 1 million QLC, accumulate enough voting power, which can be acquired by other people delegation — choosing you as representative.
Q: About Confidant Could you explain in like 3 sentences why people should get the Confidant Station? Why would people spend the money on it to replace their current Router?
A： Confidant is not just a router, it is a suite including a private network station and a private messenger. People will enjoy the most secure communication service with it. Because it allows users to generate their own account, save their own data, with the most advanced encryption.
Q: More about Confidant
- What is going on with product development? When will it be ready for launch?
- What is the pricing range of the product?
- How does it differentiate with the other secure messaging services such as Signal?
- If I am interested in becoming a distributor for the product? Who should I talk to first?
- Is there any product specs to share at this stage?
- How does it work together with QLC Mainnet?
A: The first batch of this product will be shipped in June if not earlier in May. Launching this week! timely question.
We don’t track your social contacts. No third-party tracks your social contacts.
We don’t set up, distribute accounts of your contact. We don’t know your contacts and your relationship network
We don’t ask and store your data. We don’t read your messages/documents/pictures
Four highlights I would like to point out here
- Owner-Centred Account System
- Encrypted Messaging
- Peer-to-peer File Transfer
- On-premise Storage & Private Cloud for Disaster Backups
Each Confidant Station is around 500 USD. Additional hardwares not included in this price.
Regarding comparison, Signal still holds your information in a server some corner in the world. You store your own data and you generate your own account is our differentiator. Most importantly, user friendly, even it is a decentralised service.
After purchasing the product, you need to stake QLC in the Confidant wallet, so it generates gas to be consumed, keep your Confidant activate. There will be step-by-step guide available, how to set up the wallet.
We welcome distributors, please notify us in the reddit with title “Apply for distributor” we will get in contact with you, if we believe you fit, large support will be provided.
If I understand correctly, you’re kind of doing like the Brave Browser (BAT) but: Brave is the App QLC is the IaaS (Infrastructure as a Service) ?
Do you plan to announce a lot partnerships in the next months ?
A: BAT is a decentralized explorer, and QLC is the infrastructure for telecom services. Like, QLC is addressing different layers of TCP/IP compare to BAT. BAT dealt with application. QLC dealt with network and addressing etc.
Q2 is a trap, I’m not falling. Other than the enterprise partners, we are also looking for Confidant regional reseller partners, providing lucrative initiating support if confirmed reseller. Interested?
Q3 answer is, you are on your way to moon, small steps but right direction.