Qitmeer devises a family of specifications and protocols to embrace the whole Islamic financial ecosystem, such as wallet and miners. As for interoperability, Qitmeer calls for utilizing cross-chain protocols to integrate various cryptocurrencies and offer reliable off-chain smart contract services.
Bitcoin was born with revolution, and it opened a new world that currency issuance becomes open and fair by a cryptography-based decentralized payment network. With the arrival of 10-years birth of bitcoin, the blockchain infrastructure is facing various challenges from technical aspects. The underlying mechanism of Bitcoin, the blockchain, was found capable of playing a significant role in the financial field.
A blockchain is an immutable transaction database, which maintained by peer nodes which communicated with each other within a Peer-to-Peer distributed network. For each peer, which validate and apply transactions according to a consensus protocol. The transactions grouped into blocks that linked by a hash from one block to the preceding block, aka the chain of block which is the name of blockchain is coming from.
Qitmeer is the next generation public chain based on blockchain which is dedicated to serving the ecosystem of illusion finance, ethical finance, and socially responsible investment, thereby enhancing financial inclusion and creating social impact.
In contrast to competition model, blockchain collaboration model in the mini achieves a desirable balance of typical block chains metrics among the security, openness, fairness and scalability.
Qitmeer Network is a public chain transformed from HalalChain. HalalChain’s original idea was to use Consortium Blockchain to implement business applications, and in the process of implementation, ultimately decided to transform and establish the underlying public chain. Qitmeer is an innovation and exploration of classical blockchain and a step forward from chain structure to graphic structure of block chain.
However qitmeer is mentioned in quran only once, in Surat Fatir, qitmeer has been adopted by Islam, which have help the next generation public chain based … banking activities from anywhere regardless of their social status. Blockchain is a disruptive technology that will fundamentally change banking.
The spirit of the blockchain is full decentralization and community governance. As a public chain, Qitmeer will follow this spirit in the design of its economic model. Therefore, the Qitmeer test network economic model will be a free game model of the community rather than a model dominated by a fund.