September Update 1

September Update 1

 

Dear Qreditors,

We have decided to swap from NTP1 to our own native chain.

 


The website has been rebranded with our new logo’s and new wallets have been created. The symbol for the new Qredit coin is XQR. (Formerly QRT). The maximum supply has been increased from 7 million to 700 million.

We allow the people that hold old QRT tokens to swap to our new chain with a ratio of 1:100.

You can apply for a swap by clicking here.

By swapping your old QRT to the new XQR, you will receive 100 XQR for 1 QRT. Additionally, you could also purchase new XQR coins in our shop. The old QRT addresses start with the letter N.
The new XQR addresses start with the letter Q.
You can download the new wallets by clicking here. The new block-explorer is also available by clicking here.

Here are a few reasons why we have decided to swap to a native coin.

Initially, we’ve started the Qredit ICO to allow merchants and consumers to use Qredit as a rewards token.
During the early development, things went great. But unfortunately, more merchants wanted to use Qredit as a payment gateway instead of a rewards token. The complication here is that you always need NEBL as the fee to send Qredit tokens.
Meaning that every merchant should have NEBL in their wallet to send Qredit tokens. This was also a problem on many exchanges. Before they could list Qredit, they had to list Neblio first. On top of that, we wanted to make things easier by creating online payment gateways and conversion methods to euro. By having Neblio as the fee for Qredit, things became a lot more difficult.

We have made this easier with our own native blockchain.
Qredit is now the fee for Qredit coins. Which means you only need Qredit in your wallet to send Qredit coins. Sending or receiving Qredit coins is now simple. Integration in webshops, stores and exchanges will be easier as well.

The new blockchain has been made with the ARK codebase.
Blocktimes are 8 seconds and the maximum amount of transactions per block is 200. As soon as we have more transactions, we aim to increase the transactions per block to 800 and higher. This is where we will be different from the ARK codebase. Where the ARK obviously has some different priorities, we will be targeting higher transactions speeds with decreased blocktimes.

On top of that we will be launching the QAE protocol in early 2019. QAE stands for the Qredit Always Evolving Protocol.
This allows people to create smart contracts on top of Qredit. The goal here is also to target merchants to use the QAE protocol. With QAE, merchants can simplify the use of their own reward system, contracts between suppliers and consumers and a lot more. The exact details about the QAE protocol will be explained in the new whitepaper.

The new white paper will be available at the end of September 2018. Thank you for reading this update and we hope that you stay with us.

For more information, please join us on Slack or Telegram, you can find the links below. Please keep in my mind that we are still in early development since the swap. In the following days, more updates will be released and more information will be added to our website. To check on our technical development, you can always visit our Github.

Nayiem Willems

 

 

 

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