Thursday, 02 November 2023 07:55 AM
Product Announcements
BIRMINGHAM, UK / ACCESSWIRE / November 2, 2023 / Qitmeer Network, a high-performance public blockchain powered by the MeerDAG Consensus, proudly announces its unique solution to the industry's "impossible triangle" challenge-offering scalability without compromising security or decentralization. Utilizing its proprietary MeerDAG consensus protocol, Qitmeer Network aims to revolutionize blockchain technology and usher in a decentralized blockchain internet.
Qitmeer Network's game-changing MeerDAG consensus protocol enables data scalability at the Layer1 level. This graph-based ledger protocol not only retains but enhances the security features found in the traditional chain-based structure of blockchain. It offers a high-concurrency transaction process and rapid transaction confirmation, supporting a transaction throughput exceeding 4000 TPS (Transactions Per Second).
In addition to MeerDAG, the Qitmeer Network introduces MeerEVM-a pluggable smart contract execution engine designed for high-concurrency scenarios like GameFi and DeFi. The Meerlink Protocol, a unique Layer1 cross-chain interaction protocol, allows seamless asset transfer between different blockchain networks, giving users and developers unprecedented flexibility and opening new avenues for blockchain interoperability.
The network employs a Layer1+Layer2 architecture and leverages BlockDAG technology for efficient operation. Meer Network, the Value Transfer Layer of Qitmeer, is based on the MeerDAG consensus protocol and functions as its "core engine." QNG Network, as the Cross-Chain Container Layer, expands this foundation and offers enhanced performance, security, and scalability, along with lower transaction costs.
Qitmeer Network's evolution has been marked by phases such as the Mekka, Medina, and Umayyad eras. From its initial consortium chain solutions to the current Layer1+Layer2 multi-layer network structure, the network has consistently focused on innovation and community engagement. Partnering with renowned mining pools and launching various trading platforms, Qitmeer has created a robust ecosystem.
MEER Coin, the native cryptocurrency, serves as a pivotal element in the network's economic system. With a total supply of 210.24 million coins, MEER Coin plays diverse roles from asset storage and transfer to paying smart contract gas fees. It is distributed through fair PoW mining using a "smooth decay" method, prioritizing equitable distribution.
Qitmeer Network has cemented business alliances across the Middle East, Africa, and Southeast Asia to strengthen local financial infrastructures through blockchain. Its research arm, Meer Labs, is a collaborative venture with the University of Birmingham aimed at pioneering blockchain research for practical business solutions and strategy development. The network's collaboration with Meer Energy focuses on converting waste energy into computational power to increase hash rates.
Furthermore, Qitmeer has established ties with various educational and financial bodies, including the IFSB, MIFA, Finstreet, and Open Campus, promoting talent in Web 3.0 and Islamic finance. Increasing its market presence, Meer Coin is now traded on platforms such as BoundlessPay, MEXC Global, Lbank, and Jubi, and will soon join the Bingx exchange roster, supporting Qitmeer's global cross-border payment ambitions.
As blockchain technology evolves, Qitmeer Network stands as a beacon of innovation, solving significant challenges that have limited the industry. By achieving a perfect balance between security, decentralization, and high performance, Qitmeer Network is setting the new standard for the future of blockchain technology.
About Qitmeer
Qitmeer Network is committed to leading the blockchain industry through its pioneering Layer1+Layer2 solutions and unique economic model. Focused on equitable distribution, security, and high performance, Qitmeer is setting a new paradigm for blockchain technology, facilitating a decentralized, scalable, and secure blockchain internet.
For more information, please visit https://www.qitmeer.io/#/index.
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Contact Name: Benjamin
Contact Phone: +2348109236289
Contact Email: [email protected]
SOURCE: Qitmeer Network