Business & Finance

Five Minutes to Understand Qitchain: Public Cross-chain Storage

What was the need of Qitchain? 

At the moment, the blockchain infrastructure is still very imperfect, particularly in terms of retrieving block data. As, it retrievs a large amount of data from the chain, it is a difficult task that takes a long time and a lot of computing power. In Ethereum, for example, synchronizing a complete node takes a long time because the entire transaction history must be recalculated. No projects could provide flexible and structured data access services across multiple blockchains without requiring customized development work. As a result, a unified solution was required to address the data storage and reading issues. Qitchain promised to provide this blockchain storage solution. 

Why choose Qitchain’s public chain?

Qitchain is an ecological project in which a public chain is used. QTC is one of the most competitive and user-friendly decentralized storage blockchains right now. It focuses on the features of one-time payment and long-term storage. Its goal is to create a digital archive with permanent storage, similar to the legendary Alexandria Library. At the moment, most ecological NFTs are stored on decentralized blockchains, which adds more efficiency to their work.  The most notable feature is a one-time payment and permanent data storage. It believes that the cost of data storage will gradually decrease. It employs the CPOC consensus algorithm and a set of economic incentive rules to enable miners to store data for extended periods. The more blocks a node stores, the more likely it will obtain the packaging rights and block rewards for that block.  Qitchain has a pluggable consensus module that allows users to choose from various consensus protocols to improve the performance of different application scenarios. A transaction form is used to coordinate user requests. The transaction is then packaged for consensus using the consensus technique in use in the present system. Setting the timeout period and the number of transactions threshold triggers the packaging procedure. Qitchain presently supports the Kafka and PBFT formula mechanisms. The Kafka consensus mechanism sorts user-initiated transactions through Kafka, and nodes consume messages (transactions) from Kafka in a consistent order, ensuring transaction’s order consistency.

Solves the expansion problem 

When the contract has thousands of interactions, the client must traverse every previous interaction every time it calculates the latest state of the contract. This process can take a long time for large contracts.  The decentralized node of Qitchain can compute the most recent state of the contract and distribute it to other users. QTC tokens are pledged to ensure the security of the upload status. They maintain decentralization. It allows users to retrieve the most current status of any smart contract in a matter of seconds. In this way, it accelerates and expands. Qitcoin QTC stores data indefinitely where data storage becomes simple, dependable, and error-free.

Upload and verify data through a standardized framework 

Data providers can establish storage pools to store and verify their data.  The uploader and verifier ensure the validity of the data stored in each pool. There the data uploader obtains the data from the source and performs calculations before storing it. Verifiers safeguard the integrity of the data and make sure no one violates the rules.  Users first create blockchain lists or deploy smart contracts on Qitchain through programming interfaces. This is done according to application requirements. After that, users create table patterns for applications deployed using smart contracts for different transaction types to add relationships semantics. After then, users can call smart contracts to update the blockchain or send transactions to insert data into the blockchain list. Users' transactions will be packed into blocks based on the period or threshold for the amount of consensus and transactions. Ultimately, users will be able to query block data using SQL-like languages. The system uses this to ensure the effectiveness of data storage

Realize data cross-chain storage

Qitchain can permanently store blocks and transaction data on others by integrating with other public chains. The decentralization feature of it can ensure data integrity and security. It guarantees data reliability and availability through a set of incentives and punishment mechanisms. Thus, this enables cross-chain data storage and provides the data's reliability.

Qitchain’s smart contract structure 

With smart contracts, Qitchain’s blockchain technology can facilitate the implementation of more complicated business logic. They allow trusted transaction logic to be executed without the involvement of a third party. Also, they built into almost all blockchain systems to implement complicated transaction logic. Qitchain uses Docker to construct smart contracts that support Turing's whole language. Qitchain allows the usage of couch DB to store smart contract status data to implement rich operations in smart contracts. An MPT tree is used to organize the data in the state database. The block header contains the hash value of the MPT tree's root node. The MPT tree supports the light node's availability of state data. The hash value of the MPT tree's root node recorded in each block header corresponds to a snapshot of the state database. It allows nodes to be quickly restarted and recovered. The smart contract performs crash recovery to assure contract execution correctness. First, it verifies the atomicity of the calling contract's transaction execution. There is no a partial execution; it is either successful or unsuccessful, with no in-between. Second, all transactions in the existing system are guaranteed to be done, and each transaction is completed only once.

Project progress 

What is more noteworthy is that some well-known foundations funded and supported this project: IDC Foundation and Y Combinator.   QTC entered the mainnet test and third-party security audit on September 15th, 2021. Its network's computing power with time has accelerated, and some vulnerabilities have been discovered and fixed. Beosin Technology conducted a simulated attack to undertake a multi-dimensional and comprehensive security audit on features of the public blockchain QITCOIN's module and business logic security. QITCOIN QTC, a public blockchain, has passed all audit items. Overall, the result is 'Pass’.

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