What is QLINK (QLC)?
Future of QLC Cryptocurrency and know how to buy QLC

#1. What is QLC Chain / QLINK?

QLC Chain (QLC): The Basics

  1. QLC Chain (formerly “QLINK”) is a decentralized Network-as-a-Service (NaaS) platform. In addition, it is also a blockchain protocol with the ability to deploy smart contracts and facilitate dApps developments.

  2. QLC Chain aims to unite individuals and businesses under one platform and enable them to share their mobile network resources for certain rewards. It is managed by QLink Foundation, which is located in Singapore.
  3. QLC Chain aims to solve the problems associated with the telecom industry. These problems could be:
    - inaccurate billing and content distribution,
    - overcharged usage fees, and
    - insecure in data transmission methods.
  4. The platform leverages the blockchain to create an ecosystem to provide decentralized and transparent telecom services. This ecosystem consists of mobile operators, QLC Chain, smart contracts, telecom assets, etc.
  5. QLC Chain uses its cryptocurrency, the QLC token, for facilitating the peer-to-peer transactions of telecom services on the platform. Users will need to pay QLC tokens in order to use any services provided with the QLC ecosystem.

QLC Chain Development

  1. QLC Chain was known as Qlink, before its rebranding in May 2018. The Qlink Foundation was founded in February 2018, by Allen Lee and Susan Zhou. Both Lee and Zhou serve as co-CEO in Qlink Foundation.
  2. QLC Chain development is being done in three phases and currently is in second phase, which started from the end of second quarter of 2018. The Foundation has pre-minted total 600 million QLC tokens, out of which, 224 million tokens had been made available for sale.
  3. Qlink Foundation launched its initial coin offering on December 22, 2017. At the end of tokensale, the Foundation managed to raise more than $19.2 million.

 

#2. What are the features & benefits of QLC Chain?

QLC Chain Technology

  1. QLC Chain is built as a next generation blockchain based on the Neo protocol. In addition to a virtual machine to manage smart contracts, it integrates an improved, multi-dimensional Block Lattice structure. The blockchain is designed to maintain flexibility and scalability for increased transactions-per-second (TPS) speed on the network. To achieve this, QLC chain operates on two consensus mechanisms:
    - Delegated-Proof-of-Stake, and
    - Shannon Consensus.
  2. QLC as a blockchain based NaaS platform, will allow users to incentivise their unused network via p2p network sharing services, while extending the network coverage and reducing the cost for telecom operators.
  3. Block Lattice Architecture: Block Lattice was first introduced by the Nano cryptocurrency to tackle the issues of high transaction fees and slow transaction processing speeds. Block Lattice enables one blockchain for each transaction account on the network. In a Block Lattice structure, instead of tracking the transaction amount, the users’ blockchain only tracks the transaction account balance, allowing less storage space requirements and increased transaction speed. At its peak, Block Lattice can allow upto 7000 TPS with supporting 50,000 users in the network. QLC has further improved the Block Lattice structure and converted it into a multi-dimensional protocol, which can support multiple tokens to build a public blockchain. QLC has added smart contract functionality to the Block Lattice, while keeping its all benefits.
  4. QLC Chain is a dual consensus blockchain protocol, It uses Delegated Proof-of-Stake (DPoS) for validating transactions and Shannon Consensus for Storage Node. Although DPoS serves as an efficient transaction consensus, it is not able to properly handle the additional data storage nodes and bandwidth brought by smart contracts. Hence, Shannon consensus is designed by QLC development team to support the DPoS consensus by providing an efficient and economic way to store the data.

Benefits of QLC Chain

  1. Low Transaction Validation Latency: QLC Chain features independent chains for each transaction accounts. These accounts are synchronized separately without engaging with the entire network, enabling transactions to be verified by only transactioning parties and eliminating the need for miners. This results in instant transactions with zero fees.
  2. Scalability: Since all transactions in the QLC network are managed independently, the network doesn’t need to keep the record of entire blockchain. The blockchain solves the block size issue by recording each transaction as a unique independent block. The isolation process of each transaction through independent chains allows QLC Chain to provide high scalability to the entire network.
  3. Low Energy Consumption: The inherent features of Block Lattice structure eliminates the need for involving miners. The absent of mining activity in the network results in low energy requirements.

 

#3. How to buy & store QLC Token?

How to Buy QLC Token?

QLC Chain has pre-mined the entire supply of QLC token at the time of its inception; thus users are not able to obtain QLC tokens via QLC mining. However, users still have the option of acquiring QLC through trading on a cryptocurrency exchange.

  1. QLC cryptocurrency is available to trade on multiple cryptocurrency exchanges like Binance, Gate.io, Kucoin, Bitbns, etc. Exchanges have paired QLC with multiple cryptocurrencies, including Bitcoin, Ether, Tether, and others.
  2. The easiest and efficient way to buy QLC is using the CoinSwitch, the largest cryptocurrency trading platform. It allows users to access the entire cryptocurrency market at one place. Users can compare rates and trade more than 300 cryptocurrencies across all leading exchanges. In addition with trading services, CoinSwitch also provides wallet facility to store cryptocurrencies.

How to Store QLC Token?

QLC Chain has used Neo blockchain as its base. Therefore QLC token can be stored on Neo compatible wallets. Some popular options are listed here:

  • Desktop wallets – NEO-GUI, NEO-CLI, Neon Wallet.
  • Mobile wallets – O3 (Android and iOS), SEA (Android).
  • Web wallets – NEO Tracker, SEA, and NEO WALLET
  • Hardware wallets – Ledger Blue and Ledger Nano S

 

#4. What is the future of QLC Chain?

Trend So Far

Also Read: Complete Analysis of QLINK | Live QLINK (QLC) Price Charts And Predictions

  1. As of July 2018, the QLC cryptocurrency holds market capital capitalisation over $11.7 million in the global cryptocurrency market. There are 240 million QLC tokens circulating in the market, out of the total supply of 600 QLC tokens.
  2. QLC launched for trading with an initial price of $0.335557. After launch, QLC price saw an immediate increase and reached it highest point of $1.14 in January 2018 followed by a gradual price decrease. As of July 2018, QLC price is floating near $0.049.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 22, 2018

0.051830

0.051830

0.049165

0.049466

1,584,650

12,439,100

Jun 01, 2018

0.119015

0.121976

0.111708

0.114232

4,547,960

28,563,500

May 01, 2018

0.221019

0.223117

0.208321

0.222852

9,836,630

53,044,600

Apr 01, 2018

0.139433

0.143917

0.127637

0.140421

9,993,970

33,463,900

Feb 01, 2018

0.249358

0.262978

0.184951

0.232120

4,536,750

59,846,000

Dec 29, 2017

0.335557

0.352562

0.288382

0.290141

9,911,000

-

 

#5. How is QLC different from other cryptocurrencies?

  1. Unlike Bitcoin and most cryptocurrencies that aim to replace traditional peer-to-peer payment systems, QLC Chain is a blockchain protocol meant to disrupt the telecom industry.
  2. QLC Chain operates on two consensus — Delegated Proof-of-Stake (DPoS) and Shannon consensus, which is developed by QLC development team.
  3. QLC Chain is built on an improved, multi-dimensional version of Block Lattice structure with smart contract functionality that enables higher transaction speed and scalability compared to another blockchain.
  4. Other than raising necessary funds for the platform development, QLC is used to pay for network services provided by QLC platform and reward users for sharing their network resources.

 

#6. Should you invest in QLC Chain?

  1. QLC Chain is a highly ambitious project which aims to disrupt the firmly established telecom industry with more than 2.3 billion users. To achieve this monumental goal, QLC will require to engage with numerous players at different levels in the industry, which could take a lot of time.
  2. QLC Chain has been in the market for a relative short time. It is still going through the early stages of development and has yet to release its minimum viable product (MVP). However, the team behind the project has necessary skills and experience to drive a successful project.
  3. Recent market performance of QLC is showing a continuous decline in its price. Nevertheless, analysts predict it be a lucrative long-term investment. The price may have the potential to reach at $0.19256 by 2023.
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