Taking A Look At Qwertycoin, The Next Bitcoin-Like Project
Talking about the crypto investment, then many people will recognize the success of bitcoin. Thus, some of the brand new projects also mention the name or even adopt the same method. It includes the new decentralized peer-to-peer protocol cryptocurrency project, Qwertycoin. Is it good? Is it real? Here is some information that you might want to jot down.
About The Project
The Qwerty coin offers an interesting idea by being an open-source platform with decentralized community government. When taking it as the idea, you can tell that the project is owned by the community or the users. The project underpins the idea of a decentralized currency with the technology of the CryptoNote platform V2.0.
The information regarding the project implies that it is not a private company-funded plan. On other hand, the project will thrive with the help of participant funds through ICO and Pre-Mining. All of the development was also supported by the community. Thus, making the democracy and privacy of the project better.
Technologies
The Qwertycoin or QWC gathers the fund and manages its sustainability through the PoW mining algorithm and EPoSe for the project. Both of the technologies will ensure the blockchain transaction is even safer, reliable, and untraceable. Users' privacy is also protected by the implementation of mathematics in the QWC network.
The usage of PoW or Proof of work by the QWC underlines the ability to maximize the usage of CryptoNote Technology v2.0. It helps to create an emission rate built-in reward system. The innovation will create Tail Emission that makes the QWC block reward will reduce by each block. It makes the project pretty fair and profitable for everyone.
But as the project goes along, the PoW is then replaced by ePoW or egalitarian proof of work. The QWERTYCoin itself is known as the first one who implements the technology for blockchain. The idea is also one way to reach the EPoSe consensus. Both will be the ammunition to bring solutions to users' misconduct.
Highlight Of The Project
Naturally Grown Project
The project did highlight the naturally grown project aspect in the web, social media, and its whitepaper. The idea is to underpin that every user is the government, and the decentral finance is in the hand of the participant. At the same time, the step-by-step development is also based on the participant. It can mean that the project might take a longer time to take a shape.V2.0 CryptoNote Innovation
The Cryptonote V2.0 technology brings along another mathematical logarithm for its platform. They are EPoW and EPoSe. The implementation of the V2.0 tech itself also implies that the platform will use decentralized government, which throws all of the controls over the project on its users. It also makes the project own less, except the users or participants.The Use Of EPoW
The project is claimed as the first blockchain project that uses EPoW. This technology came along with the implementation of Cryptonote V2.0 that highlights the security and fairness system. The project also claims that EPoW can bring a solution to the fundamental flaws of the original PoW, which is the abuses of buying and mining coins.
The whitepaper also addresses the Improvement ability on the Byzantine Fault Tolerance in PoW consensus. It is a groundbreaking solution to the everlasting and the unhanged algorithm for the previous Cryptonote issues. The mining progress will be more beneficial for the honest users, and the dishonest participant will gain less or none.The Usage Of EPoSe
The QWC team also addresses the problem of continuously using PoW. It is said that PoW or the EPoW will become inefficient in the later stage, in which there are bigger mining processes and transactions. The usage of EPoW will later become harmful for the whole platform and make both desktop wallet or mobile wallet gain issues. Thus, the project will move to EPoSE as the maximum supply coin hits the 184.47 billion limit.
Demerits
Doesn't mean to understatement the potential crypto investment, but the current stage of Qwertycoin is pretty much incomplete. There is some missing information in the whitepaper, including the pruning solution, the Defi transaction, and the coin distribution. Some of the comments even mention that this project is a scam.
One thing for sure, the project is in the stage 2 roadmap. It is in the stage of currency and application development. Stage 2 itself started in 2020 and may end in 2022. Some of the milestones consist of Consensus updates, wallet, and DB (LMDB) implementation. Other than that, there is no further information.
Conclusion
When it comes to finding out whether the project is a scam or not, of course, it will be difficult. It is especially when it is just in the beginning stage. On the other hand, the Qwertycoin seems like potential and a good idea. It solves the nature of costly problems, takes groundbreaking ideas, and consists of a diverse team. The choice to join or not will depend on your hand.
Website: https://qwertycoin.org/
White Paper: https://wp.qwertycoin.org/
Social Media:
Twitter: https://twitter.com/Qwertycoin_QWC
Facebook: https://www.facebook.com/qwertycoin/
Youtube: https://www.youtube.com/channel/UC9k7P3tVnoeRvRyCSvN1q9A
Discord: https://discord.gg/YnwQ8r4jEm
Telegram: https://t.me/qwertycoin
Posted by kurniawan05
Forum Profile link: https://bitcointalk.org/index.php?action=profile;u=1187741