What is Qitmeer Network?
For a long time, the blockchain technology field has been striving to solve the much-discussed "impossible trinity" dilemma, which involves achieving scalability without compromising security and decentralization. Qitmeer Network, driven by innovation, is committed to advancing the forefront of blockchain technology. The network employs the MeerDAG protocol, a remarkable Layer 1 scaling solution, which stands out for significantly enhancing network performance while ensuring the security of the blockchain ledger.
Furthermore, Qitmeer Network employs a layered architecture (Layer1+Layer2) and cross-chain interoperability solutions. Its core objective is to provide exceptional performance and scalability while maintaining the security of the blockchain ledger, in order to meet users' demands for low-latency transactions. This ambitious goal aims to lead the development of blockchain technology and build a truly decentralized "Internet of Blockchains."
This technological innovation solidifies Qitmeer Network's outstanding position among numerous Layer1 scaling projects and sets a new technical benchmark for the entire blockchain sector.
MeerDAG Consensus Protocol: Addressing Layer1 Data Scalability Issues
Qitmeer Network utilizes the MeerDAG protocol, which is distinct from traditional chain-based blockchain structures. It is a graph-based ledger protocol rooted in a generalized Nakamoto consensus. By incorporating the advantages of GHOSTDAG and SPECTRE, it enhances performance and resolves transaction ordering issues within the DAG network. MeerDAG analyzes block connectivity to identify the largest subset of honest nodes and orders the blocks in a strict topological sequence, ensuring transaction consistency and reliability.
In addition, MeerDAG supports asynchronous accounting, allowing users to initiate transactions without waiting for confirmation of preceding transactions on the chain. Instead, they only need to perform simple local verification and broadcast across the network, significantly speeding up transaction processing.
MeerEVM: Empowering Smart Contract Execution
As a critical component of the Qitmeer Network, MeerEVM is an efficient smart contract execution engine driven by the MeerDAG protocol. This engine is compatible with the Ethereum Virtual Machine (EVM), providing developers with a seamless environment to migrate their DApps, thereby expanding the ecosystem of the Qitmeer Network.
Meerlink Protocol: Facilitating Inter-Blockchain Communication
Meerlink Protocol is a unique Layer 1 cross-chain interaction protocol that ensures the synchronization of contract transaction data across different networks through a transaction consensus synchronization mechanism. This protocol achieves efficient asset transfer, paving the way for new possibilities in blockchain interoperability and driving the development of the entire blockchain ecosystem.
Layer1+Layer2: Building a Comprehensive Blockchain Ecosystem
Qitmeer Network is a high-performance public blockchain designed with a revolutionary MeerDAG consensus protocol. The network employs a Layer1+Layer2 architecture, with the BlockDAG consensus protocol at its core, driving the efficient execution of a pluggable smart contract engine. The container layer connects the entire blockchain ecosystem, facilitating seamless interoperability of cross-chain smart contracts.
Layer1: Meer Network (Value Transfer Layer)
Meer Network is a crucial infrastructure of Qitmeer Network, built using innovative BlockDAG technology and a UTXO data model to create a PoW-based blockchain. Its true uniqueness lies in evolving the BlockDAG protocol and PoW consensus into the MeerDAG consensus protocol. The primary feature of this protocol is its ability to process multiple transactions in parallel and confirm them asynchronously and swiftly, all while maintaining network decentralization and stability. The MeerDAG consensus protocol can be seen as the "core engine" of Qitmeer Network, providing continuous development and driving innovation for the network.
Cross-chain Hub: QNG Network (Cross-chain Container Layer)
MeerEVM stands at the core of QNG Network, powered by the MeerDAG protocol, offering developers an efficient environment for executing smart contracts. This engine is tailored for high-concurrency scenarios such as GameFi, DeFi, SocialFi, aiming to deliver rapid confirmation and high throughput experiences. Its goal is to foster scalability and cross-chain interoperability.
Layer2: Decentralized AI Network (Future Application Expansion)
Qitmeer Network's decentralized AI network leverages advanced artificial intelligence technology to provide powerful data processing and analytical capabilities for smart contracts. By integrating AI on the Layer2 level, smart contracts can execute more complex and intelligent tasks such as automated decision-making, real-time data analysis, and predictive modeling. This not only enhances the efficiency of smart contract execution but also significantly improves their flexibility and utility.
Qitmeer Network's decentralized AI network represents a significant milestone in the fusion of blockchain and artificial intelligence. It not only expands the functionalities of smart contracts but also opens up new possibilities for the widespread application of blockchain technology. This new vision is expected to reshape the brand image of Qitmeer Network comprehensively and may bring interesting enhancements to a broader ecosystem.
POW Economy: Fostering Sustainable Growth of the Network
What is MEER Coin?
MEER Coin serves as the native currency of Qitmeer Network's decentralized blockchain ecosystem, holding critical governance and core asset status. Produced through a Proof-of-Work (POW) mechanism, its total supply is 21.024 billion coins. MEER Coin plays multiple roles within the Qitmeer Network, providing a solid foundation for the economic system.
MEER Coin's Functions and Value
MEER Coin serves as a secure asset storage and transfer medium, facilitates convenient micro-payments, and covers smart contract gas fees. The intrinsic value of Meer Coin stems from its versatile utility across various network applications. As the Qitmeer Network ecosystem evolves and network adoption increases, the inherent value of Meer Coin is expected to rise accordingly.
Currency Distribution
MEER Coin is the core asset of the Qitmeer Network with a total supply of 210.24 million coins, distributed as follows:
- 74% of MEER Coin is distributed through fair mining using a "smooth decay" mechanism, designed to ensure equitable distribution and eliminate unfair advantages from pre-mining and private sales.
- 20% of MEER Coin is allocated to early supporters who actively participate in the 18-month phase of the Medina test network, aimed at fostering network stability.
- 4% of MEER Coin is earmarked for network development, continuously enhancing the functionality and performance of the Qitmeer Network to sustain its growth.
It's worth emphasizing that the Medina test network incentivizes early contributors based on genuine computational power, recognizing their significant contributions to network iteration, security, and reliability.
Web3 Breakthrough: Strengthening Brand Influence
Business Development
Qitmeer Network is currently focusing its expansion efforts on regions with underdeveloped financial infrastructures such as the Middle East, Africa, and Southeast Asia, achieving a series of business collaborations.
In partnership with the University of Birmingham in the UK, Qitmeer Network has established Meer Labs, a blockchain technology research laboratory dedicated to in-depth studies on decentralized AI networks, business applications, and industry strategies.
Meer Energy, leveraging blockchain and AI infrastructure, converts waste energy into computational power, serving as a core provider of network hashing power to drive the development of Qitmeer Network's computational capabilities.
Meer Coin has been listed on leading cross-border payment platform BoundlessPay, as well as renowned cryptocurrency exchanges such as MEXC Global, Lbank, and Jubi. It has also been launched on leading global comprehensive cryptocurrency mining pools like F2pool, Meerpool, and hashpool, aiming to promote the globalization of Qitmeer Network's cross-border payment business.
Partnerships have been established with Islamic Financial Services Board (IFSB), Malaysia Industry Forward Association (MIFA), Lunaray Blockchain Security, Finstreet (an Indian blockchain education platform), and Open Campus (a Web3 education protocol platform) to reserve Web3.0 talent, jointly promoting the development of Islamic finance businesses and expanding the brand's visibility and influence.
Ecosystem Development
In this era where AI and Web3 intertwine, brand influence transcends traditional boundaries. With the continuous development and popularization of blockchain technology, Qitmeer Network is gradually leading the digital revolution with its innovation and foresight. Leveraging the power of AI and Web3, it further strengthens its brand influence.
As a community-driven public blockchain, Qitmeer Network is actively expanding and enhancing its AI+Web3 ecosystem, encouraging the migration of outstanding blockchain application ecosystems. It has achieved remarkable milestones in various fields including AIGC, mining pools, DeFi, NFTs, wallets, and metaverse games, creating a vibrant and innovative ecosystem network.
Qitmeer Network's Main Ecosystem:
DimAI (AIGC Brand of Qitmeer Network): DimAI is an all-in-one NFT creation platform based on AIGC, aimed at building an outstanding AI creative platform and ecosystem for creators.
Kahf Wallet (Multi-chain Wallet): A professional multi-coin wallet ensuring global digital currency users' asset security from multiple dimensions, offering simple, secure, and reliable digital asset management services.
Candyswap (AMM Decentralized Exchange): Candyswap is a decentralized exchange on Qitmeer Network, dedicated to convenient, high-frequency quantitative trading of digital assets.
Woowow (AI Agent-based NFT Trading Platform): Woowow serves global NFT creators and collectors through AI Agent technology, creating a vibrant ecosystem for NFT circulation, providing convenient pathways for digital art and collectibles.
SWFT Blockchain (Cross-chain Solutions Provider): SWFT Blockchain is a comprehensive blockchain solutions provider offering wallet, instant exchange, payment, and trading functionalities.
Icecreamswap (AMM Decentralized Exchange): An advanced multi-chain decentralized exchange focused on servicing a vast array of digital asset trading needs.
