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--- what_is_the_qortal_project [07/23/2022 07:37] – gfactor
+++ what_is_the_qortal_project [01/27/2023 18:25] (current) – [Account Levels & Rewards System] gfactor
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 ====== What is the Qortal Project? ======
-PDF Version: {{ :qortal_blockchain_project_-_what_is_the_qortal_project_july_2021_edition_.pdf |}}
+**PLEASE NOTE:** this is a publication from July 2021. A lot of development has happened since and some of the info below may be outdated! The [[Qortal Status Updates]] page will have latest info on development!
+PDF Version: {{ :qortal_blockchain_project_-_what_is_the_qortal_project_july_2021_edition_.pdf |}}
+f
 {{:qortal_official_logo_transparent_.png?400|}}
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 contribution measured on-chain)
 ● Infrastructure for ethical third-party public or private projects to be built securely
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 The Trade Portal was initially the main service for the Qortal blockchain in a COMPLETELY DECENTRALIZED peer-to-peer (P2P) trade platform. The Trade Portal is built inside the Qortal User Interface (UI) and utilizes portions within the Qortal Core to accomplish its goals.
-Qortal’s Trade Portal aims to remove the need for centralized exchanges and ‘decentralized exchanges’ which riddle the blockchain space with all sorts of flaws. That is not to say that all exchanges which claim to be decentralized are flawed, but surely a majority are. The idea of the Trade Portal is to provide true peer-to-peer (P2P) transactions between buyers and sellers without the need of the middle man by utilizing cross-chain trades in the form of the ‘ACCT’ SmartContract (Atomic Cross Chain Trade). The only authority over a trade taking place is solely between the buyer and seller! The custom trade bot for the buyer and seller automates the multiple stages involved in a true cross-chain trade so that the Trade Portal is as simple to use as any centralized service but without any of the associated risks such as 1) historically these exchanges have been prone to hacks and failure, 2) depositing assets into a wallet or temporarily releasing control of assets during a trade, 3) any need for ID verification or KYC/AML.
+Qortal’s Trade Portal aims to remove the need for centralized exchanges and ‘decentralized exchanges’ which riddle the blockchain space with all sorts of flaws. That is not to say that all exchanges which claim to be decentralized are flawed, but surely a majority are. The idea of the Trade Portal is to provide true peer-to-peer (P2P) transactions between buyers and sellers without the need of the middle man by utilizing cross-chain trades in the form of the ‘ACCT’ SmartContract (Atomic Cross Chain Trade). The only authority over a trade taking place is solely between the buyer and seller! The custom trade bot for the buyer and seller automates the multiple stages involved in a true cross-chain trade so that the Trade Portal is as simple to use as any centralized service but without any of the associated risks such as 1) historically these exchanges have been prone to hacks and failure, and 2) depositing assets into a wallet or temporarily releasing control of assets during a trade.
 How can Qortal guarantee no theft can occur within the Trade Portal? Simple. The fact is, the Trade Portal utilizes LOCAL wallets to make trades. At the time of this publication, Litecoin is natively supported. Bitcoin is not supported for trades, but a local Bitcoin wallet has been implemented and is ready to safely store your BTC. This implementation of cross-chain trades can be reused for any number of Litecoin forks that work on the same transaction sending and address generation schemes. The DevTeam has taken extensive time to ensure that only LOCAL wallets are made use of and the keys for those wallets are never exposed in an unencrypted fashion. Therefore, the Trade Portal is just as secure as sending from a local wallet to another, except they are one chain to another.
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 The same key can be used on
-multiple nodes to provide 'redundancy' for the minter of the assigned key. This means an account can have more than one computer or hardware device minting so if a device stops minting for whatever reason, other devices are still supporting the chain and the account continues to earn the associated reward. In the future, there will be a 'bonus' given to minters who have decided to provide their key to multiple nodes and thus provide further support to the network. However, at first, there is no benefit other than redundancy for the minter.
+multiple nodes to provide 'redundancy' for the minter of the assigned key. This means an account can have more than one computer or hardware device minting so if a device stops minting for whatever reason, other devices are still supporting the chain and the account continues to earn the associated reward. **Please note:** there is no benefit to running more than one node other than redundancy for the minter. Meaning you will not earn additional block reward for running more than one node - but this can be a great way to ensure your minting account is minting as many blocks are possible on the network.
 ===== Rewards System =====

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