What Is QLC Chain (QLC)?

QLC Chain is a new generation public cryptocurrencyblockchain designed for Network-as-a-Service (NaaS) solutions. QLC Chain's framework allows everyone to create network services and benefit from the ecosystem.

According to the whitepaper, the network deploys a ‘Block Lattice’ architecture and virtual machines (VMs) to manage and integrate the smart contracts. The block-lattice is a structure in which every user gets a chain that only they can write to, and everyone can keep a copy of each chain. Two types of smart contracts are supported by QLC Chain: token smart contracts are used to issue new tokens within the ecosystem, and asset smart contracts are used to register digital assets without generating new tokens.

Further, QLC Chain employs two consensus algorithms for transaction verification: Delegated Proof of Stake (DPoS) and Shannon Consensus, a novel consensus created by the QLC Chain team. QLC Chain implements this dual consensus protocol to offer high transaction rates (TPS), high scalability, and a wholly decentralized environment for NaaS related decentralized applications (dApps).

The QLC token is used as the governance token on the QLC network and ecosystem. QGAS is the service fee used to bill network charges and store on-chain transactions (transactions occurring on top of the blockchain).

Lastly, some of the QLC platform’s features are outlined below:

• Offers peer-to-peer SMS messaging market for various services providers

• Removes redundant one-on-one communication

• Records every outgoing message as a transaction on the blockchain

• Prevents telecommunications fraud

• Provides accurate billing to prevent grey-routing

History of QLC Chain (QLC)

QLC Chain was founded by entrepreneur-minded telecom professionals and blockchain technology experts. The team has over twenty developers with expertise in telecom, chips, eSIM, P2P networks, and encryption who are located in Mainland China, Hong Kong, Silicon Valley, and Europe.

In 2017, QLC Chain developed its full structure, integrating several telecommunication capabilities on a public chain that was launched in 2018. The total supply of QLC is 600,000,000 QLC tokens.