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Quantum1net Qcoin Minting

The main incentive for Node Holders to join the network and contribute toward the goal of a Decentralized Service Platform is the ability to earn QCoin.

The idea behind QCoin minting is similar to that of Bitcoin and Ethereum’s mining: and that is to ensure that cooperative participation is a more rewarding course of action than uncooperative participation.

QCoin can be spent on the network or exchanged for other currencies. The amount of data that a user can use on Quantum1Net depends on the QCoin balance of the user’s account.

When a user do requests for some data over Quantum1Net, for example by browsing a website , a number of things happen.

First the client software create a secure data channel in to Quantum1Net through a service node, and do a GET request for the website, the GET request is routed with a minimum of one jump, the final Node at the last Jump works as a Gateway Node and if the website is based on the clearnet, exits the GET request in to clearnet to be retrieved and relayed back to the requester.

All Nodes involved in the transfer of GET request are now eligible for mining new QCoins.

The probability of gaining a QCoin, or part there of, is dependent on the minting_rate, which is a variable related to the quantity of available shared resources and data traffic in the network.

The network will always try to keep at least 30 per cent of the total bandwidth capacity to cover disconnecting and connecting nodes in the network.

So when the free bandwidth capacity drops below 30 per cent of the total bandwidth capacity the minting_rate will go up and minting of more QCoins will be allowed, and thereby more QCoins will be awarded.

It works the other way around as well. When there are too many Nodes providing capacity, the minting_rate will go down.

This happens automatically, and the effect is to create more incentive for the Node Holders to provide capacity when the overall spare capacity is low, and less incentive when the amount of free capacity is high.

The network will balance itself in a way that’s completely independent of the price of QCoin. By adjusting the minting_rate according to the amount of free available capacity on the network, users and services using Quantum1Net are charged at the optimum rate.

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This dynamic pricing translates into very competitive prices for the Decentralized Service Platform.

Everyone with a suitable device and sufficient bandwidth is welcome to join Quantum1Net and become a Node Holder and contribute to the network - including data center owners.

To minimize the risk of centralization, however, the use of huge minting rigs will be economically disadvantageous compared with running multiple smaller nodes.

This is risk is negated by the micro and macro signing scheema, that makes it possible to control incentives both with local and with global states.

This to ensure that the Node Holding incentive is balanced globally, an area with low Internet throughput will be as interesting to run a node in as in New York.

PREVIOUS PART

Everything’s encrypted, All transferred data and the blockchain on Quantum1Net is protected by our own developed Quantum Safe encryption. At the network level, Quantum1Net Network uses the TCP protocol and all the data moved by this protocol is encrypted from the start of the data being transmitted.

The initial Join connection to Quantum1Net that a Node or Client makes is to a Quantum1Net Node1 server, one of a number of Nodes run by Quantum1Net to allow new machines to join, there is also a public node list that can be imported and used to join the network if the Node1 servers would for any reason be down.

The public keys for these boot servers are hard-coded into the Client software, so the communications between the network and the user are always encrypted, never in plain text. Clients and Nodes in the network get a list of addresses and public keys of other users to connect too. These connections are also encrypted from start.

Relay Node for Clients. To retain anonymity, the identity of a Client connecting to Quantum1Net must be obfuscated from the nodes that comprise it. For this reason, connections between Clients and Nodes in Quantum1Net always occur via Relay Nodes. A Relay Node knows the Client’s IP address and will allow it to connect to other nodes that are proving services (Service Nodes). The Service Nodes cannot see the Client’s IP address but they will know its public key (wallet address) and Relay info. Of course, the connections between the Client and the Service Nodes are fully encrypted with the Quantum1Net’s Quantum Safe encryption.

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The Relay Node is able to provide a service to the user, without the Service Node having any knowledge about the clients IP. The Nodes to which the Client is connected might know a little about what the User is doing on the network but they can only identify the User by wallet address and the Relay info and not their IP. In this way, complete anonymity is assured.

Quantum1Net Blockchain

Trust Levels

For a Node to join the network it requires the IP address of a minimum of one other Node to connect to. For this purpose Quantum1Net provides a small number of bootstrap Nodes. These are internet-connected machines running the Node software. The public keys of the bootstrap servers are hard-coded into the Node’s binary, meaning that all communication is encrypted from the beginning.

A Node connects to other Nodes over a “Close to Metal” Input/Output library, sending out a message that it wants to join Quantum1Net. A Node that has an open spot may, depending on version number and response times, to allow the new Node to join.

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A node gains trust by two main factors, Uptime and Resources contributed over time,

Trust level – a measure of the trustworthiness of a node

Pruning - the action of Nodes leaving the Network, requiring a reorganization of relationships and responsibilities.

Group Elder – a node with voting rights. Elders are simply those nodes with the greatest Trust level in a Micro or macro signing groups.

Ignored - a Node can be ignored if the shared resources are not accessible in a given time ( to slow ), if the Node is under suspicion of malicious attempts ( bad behavior )

Blocked - a Node loses its stake and is blocked if multiple malicious attempts are detected in a given time frame.

Nodes must prove their worth (CPU, bandwidth, reliability) in order to earn trust, trust is earned over time. If that trust is lost, it must be re-earned. Only once a Node reaches a certain Trust level can it vote on consensus. As new Nodes must prove their worth before they can vote, targeting consensus in Quantum1Net is close to impossible.

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