QLC Chain launches testnet for blockchain monetization of network bandwidth

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QLC Chain (previously Qlink), a next-generation public blockchain for decentralized Network-as-a-Service (NaaS), announced the launch of its TestNet today. QLC Chain is a public chain designed for network services with embedded function nodes using the Multidimensional Block Lattice structure. Along with the testnet launch, QLC Chain publishes its source code for the public chain, web wallet, and wallet server on Github.

The QLC Chain enables network users to monetize their own network resources, namely their bandwidth, to earn cryptocurrency by sharing their network resources. QLC Chain’s mission is to build a decentralized ledger for network services and provide a more secured, and on-demand online experience.

The shared bandwidth can be monetized in different ways and benefit the whole ecosystem of the decentralized mobile network. Firstly, the QLC ecosystem has a working dApp, WinQ, which is a decentralized VPN marketplace. Bandwidth providers can register their VPN on the dApp and earn QLC on an hourly basis.

Secondly, the network capabilities can develop multiple decentralized business models on top such as CDN, firewall, virtual routing etc. Therefore, the Operations Support System (OSS) and Business Support System (BSS) can be orchestrated using blockchain technology. According to Transparent Market research, a global market research, analysis, and intelligence firm, OSS BSS System and Platform Market will be worth US$70.97 billion by 2024.

QLC Chain deploys a Multidimensional Block Lattice structure and applies the virtual machine to manage and support integrated smart contracts. Additionally, QLC Chain utilizes dual consensus: Delegated Proof of Stake (DPoS), and Shannon Consensus. Shannon Consensus is first proposed by the QLC Chain team. As of today, during the internal testing and the community exclusive testing, there has been 105 accounts generated, and 1,229 transactions completed with the highest TPS reaching 3,500.

“Network resources are valuable asset which have not been recognised properly due to a lack of reliable technology to support the crowdsourcing and renting business model. We designed the Multidimensional Block Lattice Structure, this type of complete graph structure has unparalleled advantages compared to traditional blockchain designs. This novel architecture will ensure that a decentralized peer-to-peer network will be able to scale with the demand. In the network services industry, every device and user can be treated as an account on the Block Lattice and facilitate instant settlement.”

Allen Li, Chief Architect of QLC Chain

Links

Testnet source code: https://github.com/qlcchain/qlcchain-classic
Testnet web wallet: https://github.com/qlcchain/QLCWallet
Testnet wallet server: https://github.com/qlcchain/QLCWallet-Server

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