Qcity is a digital currency traded on the exchange like existing crypto, and Qcoin addresses the issue of price volatility and payment time delay by maintaining a fixed value of 1:1 with every local currency. Qcity is a utility crypto based on the Q-platform as a blockchain-powered business platform. It is utilized in the Q-platform to develop a separate trading vehicle named Qcoin. On the Q-platform, “merchants will deposit Qcity into the deductible fund under the autonomous protocol and deposit transaction service fee will be paid by Qcity.”
The Qcity project was directly planned by Qnapse, a firm that specializes in blockchain services development and consists of FinTech experts such as settlement, point & pay, and security engineers. It builds a collaborative community without intermediaries in the Q-platform operated as a private blockchain.
The smart contracts enable funding and operating mutual loans between peer-to-peer merchants and sharing infrastructure, materials, and manpower. Q-platforms member stores become every node, can participate directly in the platform operating and deciding for mutual benefit receiving different services like joint contract or purchase and yield profits.
The Q-platform will offer several originally outsourced services. Members can find and share such services in the platform which may be sourced and delivered to Qcity members.
The Qcity mainnet and related services were created in November 2017. Network and block reliability was reviewed by operating the mainnet stably for over a year. The development team suggested the Proof of Online (PoO) algorithm, which included a process of checking if the block was created online as a precaution against the Block Withholding Attack (BWA), which is a type of 51% attack. The algorithm has been registered by the Korean Intellectual Property Office.
|Pre-Sale||2018-03-11 – 2018-03-31|
|Token Sale||2018-12-24 – 2019-02-28|
|Price||1 QCTN = 0.045 USD|