Place/Date: – January 31, 2023 at 20:41 UTC 4 minute read
Source: Qi blockchain
The last decade has seen a tremendous rise in the world of blockchain, with various industries employing it to enhance security and facilitate transactions. Blockchain was meant to be a revolutionary idea, and so far, it has achieved that purpose. There have been considerable advances and technological upgrades in blockchain since it first appeared, but there are some barriers to its further growth. However, that was not the case for long. The launch of Qi Blockchain redefined the entire space and made it even more seamless and user friendly.
Qi is a blockchain developed for every need that may arise in the future. It is the only blockchain the world will ever need. It incorporates Web 3.0, NFT, De-Fi, Game-Fi, several of the subdomains of all four, and everything else one can think of. In addition, the low transaction fee on the Qi blockchain ensures higher adoption and a higher number of transactions. For example, Ethereum, one of the most popular blockchains, charges $100 as an NFT creation fee, while QIE has capped it at less than a penny.
Another similar example is the transaction fee for stablecoins. While Ethereum, on average, charges $15, QIE, on the other hand, has pegged it at less than a thousandth of a cent. The numbers paint a clear picture of the potential that Qi holds and how it will transform the future of blockchain.
About the Qi Blockchain
Qi is a decentralized blockchain that is based on the PoW (Proof of Work) consensus mechanism to verify and record transactions. It is by far the most advanced blockchain with the ability to process over 2,000 transactions per second (TPS), considerably higher than Bitcoin which has a speed of 4.6 tps.
Also, Qi Blockchain It allows the implementation of smart contracts that facilitate the development of projects and decentralized applications (dApps) on top of it with advanced security protocols, without downtime and free from any third-party control. Smart contracts create a peer-to-peer network to execute direct transactions between the parties involved, thus eliminating the need for a central authority.
The Qi blockchain can be used to develop applications in finance, gaming, web browsing, advertising, metaverse, identity management, De-Fi, Web 3.0, supply chain management, and to store data and execute transactions. Qi blockchain offers complete freedom to the end user and is transparent in all aspects, thus safeguarding user privacy.
Future Industry Projections for Qi
This is where the fun part begins if one loves to play with numbers! According to experts, the blockchain industry is expected to grow at a CAGR of 85.9%. PwC, one of the largest accounting, auditing and consulting firms, in its recent report, stated that blockchain is expected to increase global GP by $1.76 trillion. These are not just projections, but current market trends indicate that this will be the case.
Although the market has witnessed several ups and downs and has been largely volatile in recent years, technological advances in the field, improved security, the growth of De-Fi games, and other industry-oriented projects that are striving to solving the problems at hand have all been major contributing factors to the growth of blockchain. And in the same period, Qi blockchain became the first choice for both developers and investors. If one were to look at the value of Qie, the native currency on the Qi blockchain, it has remained on a steady curve, and experts predict that it will increase in value.
With spending in the blockchain industry expected to rise to $19 billion by 2024, a 400% jump from 2020, more advancements are expected in the coming days and the technology will find application in a lots of uncharted territory. While we are, a report in Yahoo Finance suggested that financial institutions can save up to $12 billion a year by employing blockchain technology. Another $17-24 billion in transaction fees can be saved if securities are moved to the blockchain.
With the world recognizing the true potential of blockchain in the recent past, Qi will emerge as the biggest player in the market offering the best to the community. Remember, the world has realized that blockchain is here to stay and now it finds application in all industries, big or small. And the Qi blockchain, the most advanced of all, will continue to rise!
Also, follow the Qi blockchain on all social media handles and interactive channels to stay up to date with the latest developments: Twitter, instagram, Facebook, Discord, Reddit, GitHub, Weibo.
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