This shows you the differences between two versions of the page.
Both sides previous revisionPrevious revisionNext revision | Previous revisionLast revisionBoth sides next revision | ||
qort_model [09/11/2020 02:56] – gfactor | qort_model [09/28/2021 12:41] – gfactor | ||
---|---|---|---|
Line 1: | Line 1: | ||
====== The Qortal Model ====== | ====== The Qortal Model ====== | ||
- | Qortal 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. | + | 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 development team may need to make changes without having the option of waiting for a vote to be taken, and completed. | ||
The initial model, is very likely not to be the end model. However, the initial model is one that the team and contributors believe will work out well to start the platform, and get things moving in the right direction. | The initial model, is very likely not to be the end model. However, the initial model is one that the team and contributors believe will work out well to start the platform, and get things moving in the right direction. | ||
- | ===QORT | + | ===QORT |
- | Qortal's service token is called | + | The QORT distribution model follows a structure where the block reward will drop by .25 QORT every '6 months' |
- | It will also be used for transaction fees for 'typical transactions' | + | There is no 'coin cap' |
- | The Qortal | + | This also allows for the chain to eventually go mostly ' |
- | 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 of verification needed by the network in such a system, may cause the system overall to slow down, potentially even require the block times to be increased. | + | The focus on total coin cap is totally over-hyped in the crypto space, as the EXISTING coin in the system is all that matters when calculating ' |
+ | |||
+ | ===QORT Coin Information=== | ||
+ | |||
+ | Qortal' | ||
+ | |||
+ | It will also be used for transaction fees for ' | ||
+ | |||
+ | The Qortal chain has no QORT coin cap amount. | ||
+ | |||
+ | 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 algorithm | ||
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. | ||
Line 24: | Line 36: | ||
[[minting|Minting]] | [[minting|Minting]] | ||
- | |||
- |