The full name of DAG is Directed Acyclic Graph. After the IOTA team took the lead in using the DAG structure, many projects used the DAG structure of IOTA for reference and improved it. QYBC will make further improvement on the original basis. —
At present, people like comparing DAG with the traditional blockchain, but we believe that DAG is only a technological implementation of distributed ledger application. Some innovative blockchain projects have being exploring the blending mode of Block+DAG.
In a broad sense, DAG is only a constitution technology for the generalized blockchain. As the key components, the blockchain and Token economic drive are welcoming the arrival of the fourth value internet tide together with AI, big data, AR/VR, 5G high-speed wireless network, etc.
“Ten to twenty years later, the blockchain technology will run to perfection, which will totally solve the problems of expandability, security and usability. Then what will be the final result? Eight billion people and more than one trillion machines in the world can realize self-programmed, low-cost and reliable value exchange, dispensing with intermediary or license. The unit of value exchange can be lowered to one Fen, or one Li, or even more lower. This is one of the expectable development situations. After such a value exchange network is spread, some applications which are not likely to exist in the past will be born. The value blockchain that takes lead in supporting one million or even one hundred million transactions in its expansibility and usability will become the footstone of various applications which cannot be imagined, attracting more users and developers. Besides, the enrichment of various applications will allow the blockchain to be more valuable, thus leading to a virtuous circle and causing the strong to be stronger. “
- Quoted from Chuan Wang
The godfather has sorted out ten features of QYBC
1. QYBC provides a convenient, safe, expandable and user-centered blockchain that can reach the result of “extreme lightness, top speed and great easiness”, and a cryptocurrency ecosystem that can be widely used. With high TPS and fast transfer speed, it far surpasses ETH and BTC.
2. No pre-mining and fair, it has a genuine no-token project sponsor.
3. Without service charge of transfer, it is convenient for both large-amount and small-amount transfer, dispensing with considering any service charge issues.
4. It is a public blockchain available for mining (CHEETAH) based on DAG technology. The innovative mining mechanism has a few characteristics such as consensus mechanism voting, which can restore the justice, equity, freedom and equality principles in the blockchain bookkeeping world as far as possible. It is one of the core reasons for the BTC world to be accepted in the early stage. Another reason is that if more tokens are mined out, the transfer frequency will be higher and safer, and the transfer speed will be faster.
5. Hash rate transfer opportunity. The current POC market and the expected IPFS adopt the hard-disk mining mechanism. The technicians of CHEETAH believe that 10 blocks can be produced per second by using this protocol, and QYBC takes 1 block per second as its original goal. Although the current prototype adopts PoW (Proof of Work), we are very clear about the plenty of electric power needed by BTC and ETH, so we are considering other choices. One of the less known methods is Proof of Space, which requires miners to pre-calculate the electric power that has been proved valid by Burst Coin and Space Mint, and store mass data, and then search for a solution satisfying the current difficulty. This method is less used.
6. Foundation background. Founded in Singapore, QYBC FOUNDATION LTD. is a non-profit company established in accordance with local laws and regulations. The Foundation is devoted to developing and studying the underlying technology, smart contract, consensus algorithm and business ecological construction of QYBC blockchain.
7. Long mining time and fair. After successfully completing PoW of a new block, miners will get QYBC token as reward. The mining process of QYBC will last for a considerably long time. The reward of mined block is set as 240 QYBC initially. After the GHOST protocol is updated, this value is reduced to be 120 QYBC, and reduced to the current value, namely 12 QYBC/block.
8. There is a case of hundredfold earnings for similar technology, i.e. IOTA. The token based on DAG has been multiplied by thousands of times. With crowdfunding and “center node”, this kind of token lags far behind QYBC in its root properties.
9. What’s the core value of QYBC? As is known to all, the price of BTC in the early stage is extremely low. Because of more and more participants, people’s consensus has appeared gradually. In addition, only ten people participated in popular recognition chip at home at the beginning, and Da Kong Yi, a blockchain investor in Shenzhen born in 1990s, even obtained earnings reaching up to 500 million Yuan by investing 100,000 Yuan. At present, the original intention of QYBC is to make early investors gain early bonus, with a growth space of being more than ten times at least. In the long run, its market value will take IOTA as the bench-marking. Therefore, earlier participation will have more opportunities.
10. Potential benefits in the future: Recently, communities both at home and abroad have made frequent discussions. The new DAG technology and CHEETAH consensus mechanism of QYBC have given users a new understanding. The blockchain projects in the current stage are embodied by focusing on three core parts, including technology, ecology and community. In the projects taking IoT as the technical selling points, the DAG + blockchain technology are overlaid. In the high-tide period of application implementation in the future, it will be just a matter of time for increase of token price. Therefore, our investment concept must transfer from the technical perspective to the development mode with “humanistic spirit”, which will be beneficial to the project investment.
Finally, I want to tell all clever investors who want to get rid of the existing class restriction that the miracle transforming from a loser to a wealth winner may happen by your side, and even you may be the next “Da Kong Yi”!
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