Qortal Network – Decentralization of the world
Privacy and security are among the top concerns for Internet users today. At a time when most headlines cover scandals and crises at big tech companies related to user data, not everyone easily trusts Internet services.
We all look for alternative solutions that offer greater security in the storage of personal information. Not many users trust centralized data storage. Data breaches in the world's largest and most secure data centers are no longer a surprise. As a result, many experts and even regular users are considering decentralized services.
The Qortal blockchain project is one of the most important projects focused on total decentralization as a solution to today's Internet challenges. It promises a decentralized infrastructure for the future of the Internet.
What is Qortal Network?
Qortal aims to be a completely decentralized system destined to disrupt the current situation of Internet services. It has inherited some concepts from the QORA code base, which was launched in 2014. Qortal's current development team acquired QORA in 2016 and began developing the new infrastructure from scratch.
The ultimate goal of the QORA acquisition was to develop a new decentralized commerce portal (DEX). But there were many challenges and flaws in the QORA codebase. There were some inappropriate events in the development of QORA, and the new team believed that the coin was not progressing from the original whitepaper.
The Qortal team decided to rewrite all aspects of QORA, and the current network is completely different. There are many new features in the system, and the main currency is now called QORT.
Qortal's goal is to achieve complete decentralization at all levels. Not just the core, all the plugins on this network will be decentralized. All aspects are custom written and support P2P functionality in all applications.
Qortal launch phases
The roadmap for the Qortal network consists of four main phases each offering new features and components to developers and users. The first phase, called the Genesis Network, was released on June 29, 2020. All subsequent stages will follow an automatic update procedure.
Genesis Network consists of features like Minter accounts with leveling, basic network functionality, and basic business options.
The second stage offers additional components, the BTC trading and trading portal They are the most important. The trading portal offers a BTC / QORT trading pair to users.
Due to the decentralized nature of Qortal, after the next LTC addition, other coins or tokens will be added as a result of a community vote.
The third and fourth phases the launch of Qortal will complete the available options. Makes the platform a consumer ready blockchain with multiple offers.
Data warehousing, data nodes, super data nodes, and web hosting for client-side languages are some of the features of the third phase. The fourth phase will offer blogs, social networks and communication. All features will provide rewards to creators and participants.
QORT, the coin of Qortal
Like any other blockchain project, Qortal also has a core and service currency. QORT is the main currency of the Qortal system. Qortal network applications use QORT to store and trade value.
QORA token holders migrated to QORT after the QORA code was completely rewritten. They could convert 250 QORA tokens for 1 QORT coin.
QORT Coin can be exchanged for other cryptocurrencies such as Bitcoin within the Qortal trading platform. All developers within the Qortal platform can issue their coins. These currencies can be traded through the asset trading plugin with the QORT coin.
Users can trade tokens with QORT and then convert them to BTC. The option to trade QORT with LTC is the next phase. The addition of other new currencies to the needs of the trading platform will be chosen by vote.
QORT coin can also be used in QrowdFund a decentralized Crowdfunding service in Qortal. Additionally, those users who participate in the network by running full nodes will earn rewards based on QORT.
Qortal trade portal, how does it work?
As one of the most critical aspects of a fully decentralized system, Qortal Trade Portal it is a trading platform without a centralized aspect. It allows users to exchange their coins directly from the corresponding blockchain.
The entire trading process on the Qortal trading platform happens P2P. It means that there is no need for a third-party interface and that no centralized entity controls the assets.
It offers multiple functions for operators looking for a completely decentralized process. Operations controlled by smart contracts They are among the most popular and provide the same functionality as automated trading on a centralized exchange.
The functionality of exchanges on a decentralized platform like Qortal is a bit different from traditional centralized exchanges. Only sell orders are supported by the platform. When a user submits a sell order for a specific amount of assets, they must wait for a buyer to purchase the entire order with a single transaction.
Therefore, sellers need to consider some situations before placing orders. It is recommended to place a small amount of sales order so that more buyers can be interested in the offer.
The Qortal kernel and user interface are available for Windows, Linux, and Mac. Users can also download and install software that provides a wallet for QORT coin.
After installation, there is a login page that supports multiple login methods such as opening phrases and others.
The QORT holding balance can be accessed after passing the Qortal UI login page. Users can also send / receive QORT using the same kernel.
Qortal core offers multiple functions except a wallet like a BTC wallet, shared reward and messaging. Qortal also provides a dedicated decentralized messaging service called Q-Chat.
QORTector, what is it and what does it do?
Qortal is on a mission to disrupt the current Internet situation. The development team decided to offer hardware for this purpose.
QORTector is the name of this dedicated hardware that can act as a full node and / or a minting node in the Qortal network.
QORTector Gen 1 acted as a router but offered many options like all Qortal services. Gen 2, 3, and 4 models are ready to buy. They do not offer router functions, but will act as a full node.
Due to the minting algorithm in the Qortal network, which only available to sponsored users, QORTector does not need as much processing power required in mining-based cryptocurrencies.
Users can participate in the system simply by being online using QORTector. It also has a built-in BTC wallet.
QORTector also offers non-blockchain services to clients. Built-in security features, Tor network gateway, automatic backup, and Mumble server are some of the additional features available on this blockchain-based router.
Qortal promises a decentralized Internet. The development team is doing its best to offer multiple options and features for regular users on a novel infrastructure.
The P2P mechanism that is the fundamental aspect of Qortal, makes it an excellent option for those who are sensitive to the privacy and security of personal information.
With QORTector, this project has entered the hardware sector, which means there are serious plans to grow its vision.