There are many blockchains available today, but each has some drawbacks. For instance, Bitcoin moves slowly and uses a lot of energy. At that point, professionals and enthusiasts worldwide are looking for a blockchain that solves all of these issues and transforms the industry. This is why QI was built, the only blockchain the world will ever need.
It is a fast, low-fee-based blockchain, open-source, and public decentralized platform that runs smart contracts. Simply put, smart contracts are blockchain-based programs that execute when specific criteria are met. They are often used to automate the implementation of an agreement so that all related parties can be certain of the conclusion immediately without the need for an intermediary or additional delay. Experts believe smart contracts have the capacity to transform the entire banking system as we know it today.
These smart contracts are written in code and run on the Hyperledger Besu network. The ability to implement smart contracts sets QI apart from other blockchain systems. Additionally, QI has its own cryptocurrency, known as QIE. It is used to pay for gas, the transaction fee miners charge to execute a contract. Turing-completeness distinguishes the QI blockchain from other blockchain platforms. This means that it can run any computer program, which makes QI highly powerful and adaptable and brings forth its potential to revolutionize how we interact with the digital environment. Qi is a scalable financial solution with extremely low transaction fees.
QI, THE BEST BLOCKCHAIN TILL NOW
Blockchain boosts trust, security, transparency, and the traceability of data shared across a company network – and delivers cost savings with new efficiencies.
“Both large and small businesses have taken digital assets and blockchain, and 77% of business executives believe that failing to do so will put them at a competitive disadvantage. “
QI blockchain can speed up data transfer procedures, offer secure transactions, and lower compliance expenses. This technology can facilitate contract management and verify a product’s origin. In addition to running a decentralized payment network, Qi intends to store computer code that may be used to power impenetrable decentralized financial contracts and applications using blockchain technology.
QI can do a variety of tasks too. Besides using a digital currency, it can perform various financial operations, carry out smart contracts, and store data for third-party apps.
Here are some important benefits of QI Blockchain:
- Layer 1 Blockchain
- Low transaction fees
- Smart contract functionality
- Environment friendly
- Scalable blockchain
Early Bitcoin miners and investors made nearly $2 billion at the time of the currency’s beginning. In addition, QI would undoubtedly be more profitable in the long run than Bitcoin because it is an upgrade and offers better prospects.
Therefore, start mining Qie now and create your dApps on the most technologically advanced blockchain ever created!