As traditional blockchain systems like Bitcoin grapple with limitations in speed, scalability, and energy efficiency, QAN, based in Estonia, proposes groundbreaking resolutions to these issues. QANplatform framework.
Utilizing an inventive Proof of Randomness consensus model, QAN secures high transaction rates efficiently, supporting diverse programming environments and anticipating future quantum threats.
Explore our in-depth analysis on how QAN differentiates itself from its blockchain peers.
What is QAN?
Founded in 2018 and supported by Centrum Circle Group, QAN addresses blockchain's infamous problems of transaction sluggishness, limited scalability, and the high energy costs linked to transaction verification, while also preparing for quantum threats.
QAN's team has developed a pioneering consensus process that propels blockchain tech forwards, enhancing legacy systems.
Avoiding excessive complexity, QAN's PoR relies on innovative principles, ensuring scalability without synchronized clocks, achieving energy efficiency without degrading performance. Algorand’s Algorithm We have detailed the benefits of these advancements for you to peruse.
Bitcoin's notorious for handling only a meager number of transactions per second, while QAN reportedly achieves 1,600 signed T/ps, based on internal tests, showing promising potential.
Scalability
Bitcoin's energy consumption remains high due to its Proof of Work system. Meanwhile, QAN employs a permissioned ledger promoting fair wealth distribution, bolstered by its PoR mechanism that ensures validation unpredictability. held back Developers often face the hurdle of learning new languages for blockchain tasks. Ethereum, for instance, demands proficiency in Solidity to write smart contracts.
Energy Efficient
QAN promotes inclusivity by enabling developers to use familiar, widely-used languages for blockchain interactions.
On the QANplatform, transaction costs are steady, providing businesses with reliable pricing, unlike variable models which fluctuate with network demand.
Multi-Language Support
Standing out, QANplatform was designed to fend against evolving quantum threats.
The potential of Quantum Computing has stirred concerns about future attacks on consensus systems. QAN's quantum-resistant design anticipates these challenges, ensuring a secure future.
Fixed Transaction Fees
With Lattice-based cryptography, QAN ensures robust quantum attack defense through carefully constructed digital signatures developed over two decades.
To maintain security, QAN relies on node operators and randomly chosen block validators, both motivated by financial stakes to preserve network integrity.
Quantum Resistant
Participants in validation pay license fees, which fund a decentralized pool deterring fraud. License loss discourages malpractice.
Revenue streams for QAN come from smart contract transaction fees, code development costs, and general smart contract development, ensuring a self-sustaining ecosystem.
QAN introduces its cryptocurrency, QARK Token, initially as ERC-20 for fundraising, via BitBay Exchange in late 2019. the work With 333,333,000 tokens, two-thirds available in public and private sales on BitBay.
Keeping the QANPlatform Secure
Once the QARK Token transitions to a QAN native token, it will power the ecosystem, reward validators, and cover license fees.
Still in early development, QAN is gearing up for its BitBay IEO, with a demo launch and a MainNet release in Q2 2020, targeting significant transaction speed improvements.
With its lab-tested 1,600 T/ps, QAN aims for a groundbreaking 155,000 T/ps, potentially meeting diverse industry demands.
In its early phase but with ambitious goals, QAN promises substantial progress if it achieves extensive scalability in a secure, eco-friendly way.
QARK Token
Through PoR, QAN incentivizes a secure, corruption-free blockchain. Prepared for quantum advancements, QAN assures robust, long-lasting security.
Kane, with a strong finance and crypto research background, shares insights on Malta-based Blockchain developments. Reach out at [email protected]
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Conclusion
In summary, although the QANplatform © All rights reserved. Company No.05695741
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