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qort_model [08/21/2020 15:11] – crowetic | qort_model [09/28/2021 12:41] – gfactor | ||
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- | =====The | + | ====== The Qortal |
- | QORT has a very unique model, which has been built over many years with the minds of multiple intelligent contributors. The overall idea of the platform is to keep EVERYTHING as completely decentralized as possible. Including the modification of key numbers in the system, like block reward. | + | {{: |
- | The model is something that is subject to modification both with and without vote initially, as the platform will be in beta phase, and the development team may need to make changes without having the option of waiting for a vote to be taken, and completed. | + | {{:: |
- | The initial | + | Qortal (QORT) has a very unique |
- | ===Coin/ | + | The model is something that is subject to modification both with and without vote initially as the development team may need to make changes without having the option of waiting for a vote to be taken, and completed. This only until we have the Voting System implemented which is the next big release besides the new UI we can expect soon! |
- | The coin itself, is a ' | + | The initial model, is very likely not to be the end model. However, the initial model is one that the team and contributors believe |
- | It will also be used for transaction fees for ' | + | ===QORT Distribution Information=== |
- | ===NOTED CHANGES from original QORT Model Document=== | + | The QORT distribution model follows a structure where the block reward will drop by .25 QORT every '6 months' |
- | < | + | There is no 'coin cap' with QORT, only a 'cap' on the block rewards for each block. This model ultimately provides a very slow growing total QORT, which is ultimately modifiable by community vote, and a model built to last. |
- | So, there will be a hard cap of QORT tokens, which will be more of an arbitrary high number than a cap that is sought | + | This also allows for the chain to eventually go mostly ' |
- | Therefore, the initial | + | The focus on total coin cap is totally over-hyped |
+ | ===QORT Coin Information=== | ||
- | < | + | Qortal's service coin is called QORT. It will be utilized for the various services located on the chain, such as: Trade Portal, Blog and Website hosting, Applications hosting, etc. Qortal |
- | The Qortal chain has no cap. | + | It will also be used for transaction fees for ' |
- | Another modification from the original document, is that regarding transaction fees. Initially we had wanted to build the system without transaction fees and instead utilize a PoW algo for each transaction. However, during the build process, we realized that the amount | + | The Qortal chain has no QORT coin cap amount. |
- | **Therefore, we have decided, at least initially, | + | Another modification from the original document, is that regarding transaction fees. Initially |
The fee will be set very low, and should not make any real noticeable difference in the rest of the plans for the system, so we believe it to be an acceptable modification. | The fee will be set very low, and should not make any real noticeable difference in the rest of the plans for the system, so we believe it to be an acceptable modification. | ||
- | The model for QORT is destined to have many modifications, | + | The model for Qortal |
[[qort_model_-_account_types|QORT Account Types]] | [[qort_model_-_account_types|QORT Account Types]] | ||
[[minting|Minting]] | [[minting|Minting]] | ||
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