“Never stop building” — an open letter from Allen Lee to the community
QLC Chain is the public chain for Network-as-a-Service (NaaS). It supports each account to have its own chain of ledger integrated with telecom network service capabilities. We name it the multi-dimensional block-lattice structured ledger.
It is the public chain dedicated to the telecom service industry. On June 7th, 2019, QLC Chain started distributing QGas on its main net Go-QLC v1.0.1 to the holders who stake QLC. From this time, QLC Chain becomes a dual token structured public chain with a complete token economy. Let us go through more consideration behind it.
Briefly, we can differentiate them from the following principles :
- QLC is the utility right related to the measurement of network capacity
- QGAS is the utility fuel for symmetry behavior of information processes such as to send/receive, encrypt/decrypt, upload/download, encode/decode.
Utility right for On-chain and Off-chain
The mission of QLC Chain is to create a secure and trusted environment for communication services. In the near future, the network resources will be fragmented and tokenized with authenticated ownership.
The network capacity that QLC represents is similar to Erlang C measurement method (Erlang C is a model to calculate network capacity of voice calls, 1 Erlang means 60 mins continuous call)
Owning QLC means the owning ability to verify the network capacity utility right; having 1 QLC means the 1 QLC corresponded network capacity is anchored and verified on the QLC Chain, this is the base for future network tokenization.
QLC is also used to guarantee SLA (Service-level Agreement) of network/storage/CPU power; for example, the computational security that a POW node can provide is measured by the amount of QLC staked.
On the other hand, QLC owners can make proposals on community governance and token economy issues, for example, rules of QGAS distribution, community participation rewards etc.
Utility fuel for network symmetry behavior
QGas is used for fueling — the usage of telecom network services. The philosophy behind QGas fuel is each pair of information process behavior represents the information capsulized and de-capsulized. With these processes of send/receive, encrypt/decrypt, upload/download, encode/decode, QGas is rewarded and burned respectively to maintain the balance of network information entropy.
We can also differentiate QLC and QGas from the producer/consumer perspective of buying and renting a property. For example, if we compare a telecom resource to a house, then anyone wanting to own the house needs to pay QLC and anyone wanting to rent it or use any services provided by the house needs to pay QGAS. In this sense, the appreciation of QLC value depends largely on how much telecom resources have been anchored with QLC, thereafter resource owners can “rent” the services to users and earn QGAS.
In the next half of 2019, we will launch the QLC 2.0 ecosystem that will support multiple QLC/QGAS implementation scenarios, which we call the “3 UP” strategy.
Use cases for QLC/QGas adoption
The first UP is “Hook Up” — The hookup strategy is referring to the QGas mining consensus, the generation of QGas for miners is staking+AuxPow (Auxiliary Proof-of-Work). In this way, running a QLC Chain mining algorithm will not only mine QGas but can also mine other mainstream currencies such as BTC/LTC/DASH. Having and staking QLC will be the threshold for purchasing the public chain computing power.
The second UP is “Back Up”, supported by Confidant. Confidant will support email data encryption and reward users with QGAS while decrypting email data, back-up of email data, and the encrypted search will burn QGAS. Third-party providers that provide back up will need to stake QLC.
The third UP is “Top-up”, supported by QWallet. The specific business process will be realized through the multi-currency staking pool, and people can top up their mobile plan with their staking revenue via the built-in OTC market. QGas will be burned as a facilitation fee for this process, and holding QLC will become the threshold for other types of tokens to access the top-up business.
We also invented our own multi-sign based SMS 2FA technology. It is in the process of the patent application. We look forward to this technology replacing the ordinary SMS verification code and Google authentication solutions. This process will consume QGas.
In addition, we expect to deploy the mimblewimble protocol on the mainnet in the fourth quarter, to connect the ledger chain with UTXO. At the same time, we are trying to fix proof-of-range cost based on quantum effects in order to achieve lighter zero-knowledge proofs.
For almost two months, we have had intensive discussions internally with core developers including Chris, Owen and the public chain and product development team. Now that the key issues have been identified, the next step is to speed up development and bring products to life.