Blockchain technology has conquered almost all sectors, including the telecom sector. The “QLC Chain” project is one of the leading blockchain projects that seek to transform the telecommunications sector for the better.
The project was initially referred to as “Qlink”, rebranding its current name, “QLC Chain”.
The “QLC” project seeks to decentralize communications by developing a distributed communications platform in which users can purchase a connection from other users instead of mobile service providers.
Essentially, the QLC project seeks to develop a secure and reliable environment for communication services and simplify the digital divide through the blockchain, allowing anyone to operate and benefit from network services.
Below is an introductory guide to the “QLC Chain” project and its digital currency “QLC”.
Overview of the “QLC Chain” project:
QLC Chain positions itself as the next generation of public blockchains designed to provide Internet Network Services (NaaS).
The platform is based on the NEO protocol and integrates a multidimensional “Block Lattice” architecture that uses virtual machines (VMs) to manage and support integrated smart contract functionality.
The QLC Project benefits from double consensus:
- Delegated Proof of Shares (DPoS)
- The Shannon Consensus (an internal consensus developed by the QLC Chain team).
Using two consensus protocols, the QLC project delivers many transactions per second (TPS), achieves massive scalability, and provides an inherently decentralized ecosystem for decentralized NaaS applications.
NaaS applications can include many platforms such as:
- Virtual Private Network (VPN).
- Multicast protocols.
- Custom routing.
- Wide Area Network (WAN).
- Bandwidth on demand.
- Intrusion detection and prevention.
In simple terms and as a simplified definition of the project “QLC Chain”, it can be said:
“QLC Chain” is a project that introduces a multidimensional structured blockchain with telecom service-centric capabilities.
The project is based on the decentralization of telecommunications services, allowing the purchase and sale of telecommunications services from individuals instead of major telecommunications companies.
An innovative QLC Chain model allows users to sell unused data to others, sell access to their Wi-Fi connection, and power their cellular signals.
A brief history of the QLC project and development team:
As we indicated at the beginning of the article, the project QLC was initially known as “Qlink” before rebranding in May 2018.
The Qlink Foundation was founded in February 2018 by Allen Lee and Susan Zhou.
Currently, Li and Zhou are co-CEOs of the Qlink project.
The QLC network is being developed in three phases and is currently in its third phase.
Qlink launched its initial coin offering on December 22, 2017, raising more than $19.2 million after selling 224 million QLC coins.
The QLC development team consists of professionals with extensive experience in software development, investment banking, and financial technology.
Allen Lee leads the team as chief engineer.
Lee is a former software engineer at Huawei who owns several patents, including YouYou Mobile.
Susan Zhou is the co-founder and chief operating officer.
She has more than ten years of experience in the telecom and investment industry.
Other team members include Roger Lim (co-founder and former CEO of web Vision), Tuya Zhang (former PR Director of OKCoin), and Tony Jo.
QLC Chain digital currency
QLC is a digital token based on the NEP-5 standard based on the NEO protocol.
The QLC cryptocurrency is the protocol token in the QLC blockchain and serves as a payment method for market transactions.
Transactions using QLC are performed instantly on the blockchain.
The coin allows users to share QLC and access several benefits, including issuing crypto tokens for communication services, receiving Q-Gas, and voting for blockchain updates.
General information about QLC digital currency:
- Name: QLC
- The current value of the coin: $0.035
- Circulating supply: 240 million QLC
- Market capitalization (in US dollars): $8.80 million, making the coin 984th on Coinmarketcap.
- Offer created: 600 million QLC.
How to buy and store QLC digital currency
The QLC project pre-mined the entire supply of QLC coins in its infancy, as users could not get QLC coins through mining.
The only option to obtain QLC is by trading on a cryptocurrency trading platform that supports the coin.
QLC has been listed on several cryptocurrency exchanges, including Binance, Gate.io, Kucoin, Bitbns…
You can exchange QLC for many cryptocurrencies, including Bitcoin, Ethereum, and Tether.
As we knew above, the project is built on the Neo blockchain. The QLC cryptocurrency can be stored in Neo-compatible wallets such as NEO-GUI, NEO WALLET, SEA, NEO Tracker, Ledger Nano S, and Ledger Blue.
QLC Chain future
QLC Chain is a distributed mobile network built on the Neo Blockchain.
The platform decentralizes communication services such as Wi-Fi, SMS, calls, and business communication services by deploying smart contracts in the blockchain.
QLC splits its mobile network into two parts on Bitcoin, i.e. infrastructure and services.
The infrastructure sector is hosted on the Neo blockchain, while the services sector, including content tracking and payment data, is stored on the QLC blockchain.
The project has excellent potential to solve current challenges in the telecom industry by enhancing network coverage, eliminating monopoly, reducing telecom infrastructure costs, and enabling users to use unused network resources.
But the value of the currency, despite the recent wave in the rise of altcoins, did not even reach half of what it earned in its record high achieved in January 2018.