QitChain founder and CEO Dr. Shoaib said in an exclusive interview recently that QitChain ‘s goal is to build a Web 3.0 QTC ecosystem. Create a new generation of information aggregators that benchmark Google
Q1: As mentioned in the white paper, QitChain’s goal is to become a Web3.0 distributed information aggregator. Doctor, how do you define an information aggregator?
A: QitChain is a blockchain-enabled information aggregator. With the extreme development and inclusion of the blockchain, the growth and innovation of the public chain is essential.
The original intention with the team was to build a search engine that would allow people to own their resources, give them freedom, and empower data owners through decentralization. Not only that, but our expansion aims to increase control over user data and give more say in how data is handled or processed. After unremitting efforts, we finally did it.Our main concern “My Data, My Value” has been realized, and the monetary and other benefits generated from the data should be provided directly to the owner without the need for an intermediary.
Many people are probably thinking how a decentralized distributed search engine can help solve all privacy concerns. In effect, decentralized distributed search engines show us that there is no central control, they are scattered across different nodes of the network. No decentralized search engine holds personal data; they don’t even have access to an individual’s search history, which is where we feel safe and private.
Qitchain introduces relational semantics in the blockchain ecosystem; enabling complex queries composed of basic relational operators such as selection, projection, and join. Therefore, even if only one piece of data is stored, the query processing power increases. Furthermore, Qitchain proposes a cryptographic accumulator-based ADS GCA2 tree to support verifiable multi-dimensional aggregation queries of blockchains, avoiding additional costs and the most exciting features.
Qitchain is an autonomous and independent public chain designed to empower blockchain. It performs distributed storage and distributed retrieval of valid data in the blockchain, forming a distributed search engine in the blockchain network.
Q2, the white paper also mentioned QitChain ‘s benchmarking against Google. So , ask : 1. Do you know what kind of company Google is ? Where is his advantage ? What are the disadvantages ? 2. Compared with Google , whatadvantages does your company have ? How to surpass Google?
A: Qitchain is an independent public chain designed to empower blockchain. It performs distributed storage and distributed retrieval of efficient data and forms a distributed search engine in the blockchain network. At present, QitChain is in the construction stage of the underlying facilities and is upgrading the underlying protocol to realize secure payment.In the future, it will gradually build smart contracts, establish an ecosystem, and integrate popular track projects such as NFT and Metaverse, so as to provide more breakthrough blockchain enterprises, applications and programs soon. QitChain benchmarks Google on the Internet, providing capable and protected storage and retrieval services for the blockchain field. As a result, it forms a distributed search engine system that reaches a huge user base and developers.
The original intention of Qitchain to create a search engine is to allow people to own their own assets and freedom, and to empower data owners through decentralization. It also increases control over data and gives them more say in how it is handled or processed.
Also, as I’ve said, money and other reimbursements from this data should be distributed among all without the need for a middleman. All in all, this means: “my data, my value”.
In contrast to traditional search technologies, we may not always be aware that every time we browse the Internet through search engines, social media or large retailers, a lot of our personal information is tracked and recorded in some form. This information is then used in countless marketing campaigns. These companies are spending huge sums of money to grab a piece of the multibillion-dollar online consumer industry. These campaigns are translated into intrusive pop-up and mostly irrelevant sponsored ads that seal our everyday online experience.
The cases are virtually limitless and can be applied to any product or service we are interested in and search for online.Compensation for the target offer was also received. This means that the so-called decentralized distributed search engine has no central control.
In contrast, Qitchain’s distributed search engine works differently. It takes an open search engine approach. With an open search engine, no search engine can own your data. They can’t even access your search information. It is not much different from traditional search usage. The only difference is that when others need to use my data, they need my permission. When my data generates value, part of the profit value is returned to me.
We see the status quo of the blockchain: the ecologically prosperous Ethereum network, its data is actually stored in a centralized server. Now in the decentralized network of blockchain, there are a lot of NFT and Metaverse data; in the future, there will be more and more data, and the demand for distributed storage and search will also increase, so Qichain will use its own Technology and consensus advantages, providing infrastructure for WEB3.0 services, providing distributed storage and retrieval services
Create a $1 trillion ecosystem
Q3 : In blockchain projects , we often mention ecology . What do you think the ideal ecology of QitChain shouldlook like ? How did you approach the ideal ecology ?
A: In the infrastructure, QitChain has built services such as blockchain ledger, file storage, and interactive protocols, providing the cornerstone for building various decentralized services.
In terms of technology integration, QitChain will integrate a series of front-end technologies such as AI, AR, VR, IoT, etc. With the advancement of technology, it will absorb more high-tech in the future and build a stronger ecosystem.
In the ecological service system, QitChain not only provides shared decentralized applications such as DeFi, NFT, games, and social networking, but also shapes decentralized search engines, Metaverse and other applications, and establishes a Web3.0 system. Transformation, supply chain finance, healthcare and education will also play an important role.
Technically, it is mainly to prepare for the landing of large-scale ecological applications in the future. First and foremost is security. In addition to QITCHAIN’s friendliness and low threshold for plot nodes, it is conducive to the decentralization of nodes and the establishment of consensus, increasing the network.
In addition to sanctuary, edge computing is also making breakthroughs, which means that data encryption and confirmation can be performed in real time on the web client. The second is to improve Turing completeness, which is a relatively big progress. It is expected that large-scale cross-ecological applications and cooperation will be realized by the fourth quarter of 2022 at the latest.
Q4: How to understand QitChain’s “three cores and two radiations”? How do they relate to ecology ?
A: In the ecological planning of QitChain, the “three cores and two belts” with the entire blockchain as the underlying infrastructure are proposed for the first time – QitChain Network (core support), Qit Search (core service), Qit Mateverse (core world) and Technical service belt, service radiation belt.
QitChain takes the search engine as its main service, and focused on the effectiveness and excellence of the underlying data in the early days. In order to allow more members to participate in the network, its consensus mechanism establishes a model with almost no threshold. Combined with the incentive mechanism, the continuous participation and maintenance of the network by global members can be effectively obtained.
QitChain does not set a fixed user retrieval fee in the network. Instead, storage service providers set prices for their own services, forming a benign competitive environment among storage service providers to better serve users. For users, “search as a service” can meet the needs of larger data information in the future. At the same time, QitChain will form a huge green aggregator that can provide all users with any service they are interested in.
From the perspective of long-term ecological development, QitChain, as the underlying infrastructure of the blockchain, may become an irreplaceable operational information aggregator in the future. With the continuous updates and breakthroughs in technology, various DApps will be built on the QitChain public chain to regularly promote ecological services. The economic model of multiple deflation will also more effectively supply the network ecological cycle. The services of global storage service providers will be closer to the needs of users. Storage service providers and users can obtain the most valuable service system.
Based on the support of the other two cores and two radiation belts in the ecosystem, we will launch Metaverse products in the future. This is a truly fully decentralized virtual world and searchable virtual world.
Q5: How can potential projects participate in the ecological construction of QitChain ? How do they make theproject profitable?
A: The QTC main chain has added PoST algorithm. This is the chain algorithm of CHIA. The PoST algorithm has a lot of potential and can provide storage services without a P disk. The upgrade cycle is about 60 days, and the expansion will begin on March 1 and is expected to be completed by the end of April. The algorithm of Qitchain will be upgraded to CPoC and PoST, and Chia service providers will no longer need P disks to provide storage services for QTC ecological builders. Qitchain main chain algorithm upgrade. Due to the addition of the PoST algorithm, it is more conducive to grafting smart contracts on the main network, which is conducive to cross-chain integration. In the later stage, QTC will also be set up for data storage and search of search engines, and provide storage and download services for other ecosystems. Building other ecosystems, including shopping malls, knowledge payment, training, etc., all of these services need to consume QTC.
Q6: What is the current progress of QitChain’s ecological construction ? What initiatives will you launch to promote the ecological construction of QitChain ?
A: The mainnet upgrade plan launched this month has undergone infinite evolution and is expected to be completed in the second quarter. At present, the team is making every effort to promote the CpoC+PoST mainnet upgrade and hope to launch it as soon as possible. The foundation will set up a $10 million fund to enter the secondary market. The foundation and mining pool developers jointly launched the “QTC100” ecological development reward program; the event will start in April and last until June 2022. The DAO activity organized by QTC before endorsed the ecological construction of QitChain, and the sixth DAO governance activity started again this month.
Q7: Estimate the ecological scale of QitChain ? How many ecological builders do you think the QitChain ecosystemcan accommodate at most?
A: The ecological scale of qitchain is estimated to be $1 trillion. The capacity is up to 3000P per year, and there will be an upgrade plan later.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/dr-shoaib-founder-of-qitchain-effective-data-aggregator-will-become-the-key-engine-of-web3-0/
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