Today, QLC Chain launches its Mainnet, and with its launch, becomes the first infrastructure-level public chain embedded with 5G-ready telecom service capabilities.
QLC’s mainnet also launches with the first blockchain-based global SMS billing application. Upon mainnet launch today, QLC revealed the GAS token for QLC holders and QLC Chain miners. QLC Chain also introduced public chain attached smart contracts for participants to utilize communication services. Additionally, the team announced that a $2 million USD telecom services sales MOU has been signed between QLC Chain and Montnets Consensus, for purchasing QLC and QGAS token to deploy related communication service on QLC chain.
QLC Chain for Communications Service Provider (CSPs) transformation
It is the distributed telecom services constructed on Directed Acyclic Graph (DAG) – a type of Blockchain structure. The major features include: 1) distributed security (e.g. digital ID authentication, privacy encryption, and on-premise storage). 2) distributed billing (e.g. trusted billing, anti-fraud billing, and phone bill payment). 3) P2P addressing (digital identity and chord network optimization based on IPv6). This technology successfully guarantees network security via data encryption, and at the same time completes access authorization confirmation and management. In particular, the overall network consensus throughput would be improved by combining the network-optimized slicing architecture.
This is an evolutionary step forward in the telecom billing and telecom security field, and QLC holders would be the first to benefit from it.
Today, QLC Chain announced that the first infrastructure-level public chain embedded with 5G telecom service capabilities is live! The team adopted the QLC Chain-based global SMS Billing system with the Montnets Group (Montnets). The system will aid in reducing issues in the current Global Application-to-Person (A2P) SMS Market, as well as help enterprises and service providers reduce operational costs. This system will provide transparency for market transactions and benefit the whole communication industry by preventing SMS fraud.
QLC Chain is partnering with Montnets to kick off the adoption of their tech. Montnets is one of China’s leading cloud communication service providers and has thousands of enterprise customers and strategic partnerships with leading companies such as Baidu, Tencent, Alibaba, Bank of China, Ping An Insurance Group, China Merchants Bank and more. Additionally, Montnets has partnerships with China Mobile, China Telecom, and China Unicom, all of which make up China’s top three telecommunications operators.
QLC Chain’s first application is a global SMS billing system. Currently, The SMS industry is facing tough challenges like spamming and phishing, which can be alleviated by the use of public ledger technology. QLC Chain allows enterprise users to conclude billing and clearance instantly. It also records the message log on chain for security purposes. According to the research by Transparency Market Research, the global A2P SMS market, with a valuation of US $62.01 billion in 2017, will achieve a healthy 4.2% CAGR from 2017 and 2025 and rise to an approximate valuation of US $86.53 billion by 2025.
With the SMS Billing system, Montnets’ clients can record the hash value of each SMS on the public ledger. This initiative will reduce SMS fraud as users can search and verify the origin of each message they receive and discover if the senders are credible.
The QLC team is also releasing a public chain explorer which supports the search of SMS senders, receivers, sending times and receival statuses based on phone numbers. In addition, QLC Chain will introduce a privacy feature where users can choose to secure their SMS transactions.
What are the additional ways the telecom industry will benefit from having a public chain?
QLC Chain is tackling a bigger market than A2P SMS, including full-suite clearance, inter-carrier clearance, peer-to-peer addressing which supports IPV6 and user ID authentication and authorization. QLC Chain is aiming to provide a trusted and secure environment for telecommunication services and at the same time, narrow down the digital gap around the world.
The public chain supports carrier token issuance , enabling communication service providers to generate their own tokens for their services and provide the decentralized Operation Support System (OSS) and Business Support System (BSS). The enhanced OSS/BSS improves real-time functionality and fault-tolerance, and also unites consumption, billing, and payment into a single process
Entities adopting QLC Chain, which is known for its ownership authentication and public ledger usage, would enable a new, efficient network – transmission, content distribution and value network, all-in-one.
Content on the QLC chain will be decoupled from its original server, addressed by an addressing protocol with its fingerprint. This will free individual’s choice from fixed service, and becomes content driven rather than platform driven.
Montnets joins as master nodes
By the time of the official GO-QLC v1.0.1 launch, there will be a total of 5 master nodes to verify transactions. A variety of ecosystem participants is essential in the prevention of potential centralization and malicious attacks such as 51% attacks.
Blockchain-enabled privacy focused communication platform
QLC Chain recently revealed its consumer-oriented product, the Confidant, a privacy-focused communication platform which protects online communication from prying eyes and also empowers users to take ownership of their data.
The Confidant suite includes a private network station node and a private messenger App. Confidant adopts peer-to-peer network and file sharing protocols, eliminating any possibilities of third-party interception. By using Confidant, users can conduct encrypted messaging with their business partners, colleagues and family members on a private network channel. It can also serve as private, encrypted cloud storage, accessible only to the account owner.
Understanding GO-QLC token economy and how to benefit from it
Go-QLC v1.0.1 is available as of March 31st. Now, all community members will be able to visit Github to download and access the official version of GO-QLC v1.0.1. Go-QLC adopts dPoS and a second layer of consensus to secure the ledger.
Here is a link to the QLC Chain GitHub: https://qlcchain.github.io/tutorial/getstarted/#qlc-chain-introduction
The mainnet introduces the Global SMS Billing system which helps Montnets and its clients avoid billions in operational costs. This is a large step in telecom billing and telecom security fields and QLC holders will be the first to benefit from this.
Go-QLC will also introduce some exciting features, such as public chain attached staking contracts which include token mintage contract s, voting power contracts , and Confidant usage contracts . Every QLC holder can stake their Nep-5 QLC to deploy the contract and get access to various applications, functions, all the while receiving Q-Gas.
What is this Q-Gas?
Q-Gas is the fuel/operational token for Go-QLC. Q-Gas will be consumed when a communication service provider deploys their service on Go-QLC.
Staking and how to get Q-Gas
- Stake your QLC to earn Q-Gas
QLC holders can stake their NEP-5 QLC and on a daily basis, Q-Gas will be airdropped to their Go-QLC wallet.
How to stake QLC for voting power:
Go-QLC adopts dPoS consensus. Staking NEP-5 QLC will acquire voting powers on a 1:1 ratio. Owner of a sufficient amount of voting power will become a master node which confirms the transactions on the network.
Stake any amount of QLC for 6 months:
Daily Q-Gas earning = staked QLC / staked QLC from the whole network x daily allocated amount of Q-Gas (number to be released)
How to stake QLC for Confidant usage?
Confidant is the first consumer-oriented application on Go-QLC that consumes Q-Gas. It is the most trusted privacy-focused communication platform, facilitating end-to-end message encryption, peer-to-peer file transfer and private cloud storage in a completely decentralized way. The communication content between you and your counterparty can never be accessed by any third-parties, enabling any individual to reclaim the ownership of their data.
Confidant will be activated with Q-Gas in your wallet.
How to stake QLC for token mintage?
Holders can stake 10,000 QLC for a period of 6 months to be qualified to issue a token for their services. Go-QLC has already embedded SMS billing functions and will support security, addressing and more telecom services for the convenience of every entity deploying those services on the public chain
- Be a QLC Chain miner and earn Q-Gas
QLC Chain will deploy the second layer of consensus where miners will contribute by confirming the whole network transactions as chains of blocks. Miner nodes earn Q-Gas, by competing via proof-of-work (POW). Miners will share 3% of Q-Gas total circulation annually as a reward.
How to run a miner node?
- By staking 1 million QLC
- By gaining more than 1% voting power within the whole network
- Voting power is converted from staked QLC at a 1:1 ratio
- Miners-to-be can advocate other QLC Holders to delegate voting power to them
- QLC holders can delegate voting power to others. However, the right to receive Q-Gas remains to the original holder.
- When to start Token Swap
QLC Chain will conduct multiple real-case tests with Montnets in the following months. To protect the security of everyone’s digital asset, the token swap plan will be postponed to September.
Roadmap timeline
- March 31st – Mainnet Go-QLC v1.0.1 goes live, wallet download and node deployment start
- The week of April 1st – Confidant Launch
- The week of April 15th – Start of staking NEP-5 QLC for voting power
- The week of April 29th – Start of Q-Gas airdrop; Miners start to earn Q-Gas
- The week of May 6th – Start of staking for Confidant
- The week of June 3rd – Confidant shipment
Second phase development
- Start Oracle nodes deployment
- Start storage nodes deployment
- Start Token Swap
