What is Qlink currency (What is Link currency, is it valuable?)

08/09/2023 09:52 • Digital Disruptors • 64 views

What is Qlink currency, according to official news from the Qlink currency circle, QLink is a distributed oracle network based on Polkadot. The code name is QTUM (QLINK), which is the only token on the Qlink network, used to incentivize contributors in the ecosystem and reward miners participating in governance. Its value mainly comes from community building, project development, and marketing.

On the technical side, Qlink adopts C++ as the underlying language and supports multiple language protocols for smart contract development. In addition, Qlink also utilizes the technical foundation components of IPFS to achieve cross-chain functionality, enabling asset transfers between different blockchains.

What is Link currency, is it valuable?

Editor’s note: This article is from Xiaozha Chattings (ID: xiaonazha88), authorized reprint by Odaily Planet Daily.

What is Link currency? Does it have value? What is Link used for? In the cryptocurrency market, this term is referred to as “LINK,” which is a synonym for decentralized networks. The abbreviation “Link” also refers to “Link,” and its main purpose is to provide a peer-to-peer network transmission service by sending blockchain information to other users for transactions. “Link” was proposed by Vitalik Buterin, the co-founder of Ethereum, and Michael Arrington, a core developer of Bitcoin, in 2017, as a new internet application that can create a better future. However, due to its intrinsic properties, it leads to significant price fluctuations. The current price is determined by its smart contract execution and the smart contract code has been running for a year, but the functionality is not yet fully mature. If it does not continue to develop like it is now, it may just be a scam.

So what is Link? It is a digital asset. To some extent, it is a platform built on blockchain technology, similar to an open system, multi-party computation, or sharding protocols. Link is an open-source project that uses smart contract protocols on the blockchain, allowing anyone to publish and store requests while also giving them control over their data. This means that everyone can participate in governance. According to the official description, this incentive is to promote community development and progress. “Link” has the following characteristics: “user-friendly software makes the network more secure; highly scalable and without hidden points of failure, and supports all types of applications”; “off-chain communication” (L2 solution) provides opportunities for interaction with the real world, such as video games. Therefore, Link’s positioning is to obtain message sources in a more secure way. Although it is not directly user-oriented, link is also a very practical product – it can help us better understand how to utilize it and how it can become part of the next generation Web3 applications.

Furthermore, to improve the overall performance of the network, Link also has unique design elements that represent the core parts of the network: a trustless consensus mechanism. When validators send requests to the network, two independent datasets are generated: block producer addresses and validation nodes. Miner rewards and block subsidies belong to these specific entities, thereby incentivizing network usage. This greatly increases the number of validators.

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What is Qlink currency (What is Link currency, is it valuable?)

What is Link currency, is it valuable?

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