Qortal is a truly decentralized blockchain concept that has a codebase written from scratch which will support a scalable infrastructure for a variety of revolutionary new concepts
- Website, blog, social media, and encrypted communication hosting
- Peer-to-peer (P2P) asset trading/decentralized exchange
- Private, self-hosted wallets that eliminate the need for a centralized service
- State-of-the-art security and greater efficiency with data storage/usage
- Infrastructure for virtually any public or private application to be built on
- A ‘minting’ distribution system to provide fair block rewards to everyone involved
- A voting system to make true decentralization possible and manageable
- A leveling system to credit user influence based on individual contribution
- A feature to create tokens for other projects which can be built on the chain
- Supporting hardware to provide router, node, wallet, and other blockchain solutions
- Mesh-networking and satellite technology to provide decentralized service connections
Blockchain technology has become widely accepted as a viable solution to providing anonymity, creating new currencies, introducing solutions to fair trade, improving security measures to combat the latest threats, and increasing operating system efficiencies to say the least. Although there are a lot of great ideas as to how blockchain technology can help mankind evolve into a future with high demands, we have yet to see a truly decentralized blockchain emerge which can provide solutions to:
- A stable and scalable infrastructure for both public and private applications (not a clone)
- A real ‘DEX’ or decentralized exchange for asset trading (without a central authority)
- A real ‘DEX’ that natively supports BTC and other decentralized coins
- A way for users to have complete control over their assets with better security measures
- A more efficient way to store data on the chain and be able to access data faster
- A block rewards system that distributes coins/tokens fairly (without miner hardware)
- A system built by the people, for the people (without money hungry founders)
- A place where good content can be published and rewarded appropriately
- A voting system where the community’s voice is heard and determines the outcome
- Affordable hardware to support the chain and allow everyone to get involved
After more than four years of development, the time has come for crypto enthusiasts around the world to take part in the next best thing for blockchain technology which will provide solutions to all of the problems identified above. In short, Qortal will provide the foundation and gateway for the solutions to our biggest concerns when it comes to the Internet’s infrastructure, how we make use of the Internet and the decentralization of blockchain technology. Qortal will be able to provide a more secure way for websites, blogs, social media, communication, peer-to-peer (P2P) asset exchanges, wallet/asset storage, operating systems, cloud storage, internet service, and virtually any other aspect of the Internet to operate without a central authority if desired. Both public and private applications can be built on the Qortal Network and the Crowetic team is currently leading the project’s development in addition to the development of hardware applications to support it.
The Qortal project is preparing to launch the base network and genesis block on February 2nd 2020 (02/20/2020)! The team currently leading the development includes those who have been in the blockchain space for a considerable amount of time who have seen many things happen that were not ideal in multiple other coin and platform launches. Therefore, the team has come together to develop what we believe to be the ‘world’s first’ truly decentralized blockchain with a plethora of features unlike anything seen before. Part of the Qortal development team includes the CIYAM Developers, who created a concept in 2014 of what we see today with the term ‘SmartContracts’ with their http://ciyam.org/at platform which is now embedded into the Qortal Platform. They were also the first, as far as we know with time frames, to issue a cross-chain coin trade utilizing the same SmartContract system that was done between BURST and QORA years ago!
The codebase for Qortal initially started as the QORA coin codebase. QORA had launched in 2014 and was completely custom written. Since the current team takeover of QORA in 2016, nearly everything has been either rewritten and enhanced, or completely re-created along with the addition of many new features or previous features done in a different fashion. So why is Qortal not QORA? Unfortunately, there were a number of factors with QORA which made it less rewarding to pursue development opposed to the new Qortal. Factors such as a codebase that made development very difficult in comparison to what we have now and a convoluted amount of coins which devalued the project’s true worth (not to mention an unethical event where centralized exchanges lost QORA holder’s coins and a massive amount of coins remain ‘unavailable’). After considering the flawed aspects of QORA as well as Bitcoin today in comparison to the original white paper, Qortal has and will continue to be carefully designed to provide the world with a 100% decentralized blockchain concept that improves the way we make use of the Internet and blockchain technology!
In 2016, the Qortal team took over QORA development with plans to re-release QORA as QORA2. Qortal was originally conceived to be solely a 100% decentralized trade portal (DEX). However, as time went on, the decision was made to merge the two projects into a single, completely re-written codebase to be called Qortal with ‘QORT’ as the ticker for Qortal’s coin.
Qortal is a custom-written and decentralized (fully P2P in all aspects) platform with a core that is capable of a great multitude of functionality. On top of that, a completely custom web-based user interface (UI) platform that is focused on ease-of-use and simplistic presentation will allow users to easily understand and make use of the complex core with little effort. It will be one of the only completely written-from-scratch projects in the blockchain space. This means it is not a clone of any other platform! There were certain aspects of QORA that were kept, however, nearly everything in the system is completely new. For the portions of QORA that were kept, they were improved upon however deemed necessary to enhance the functionality desired.
The First Of Many Great Ideas
Those who are in support of the concept of decentralization will certainly be interested in Qortal. The platform is meant to never contain any aspect of centralization! This includes never needing a centralized platform to provide essential services like trading and to be capable of more than any other P2P system that has come before it.
The platform will have a completely decentralized trade portal which includes a user interface similar in look and function to a centralized exchange, but without ANY of the risks associated with centralized exchanges. With Qortal, assets will never be out of the owner’s hands until the actual execution of the trade has been placed and immediately obtains ownership over the other coin/token/asset involved in the trade. Qortal is designed to eliminate the need for any sort of governance over other user’s assets. Never again will users have to rely upon ‘depositing coins’ to a centralized agency just to trade them. This is done so by utilizing automatically created SmartContracts with on-chain order books and Cross-Chain trades thanks to the CIYAM Developers. Features outside of the trade portal will include but not limited to an encrypted and/or public data storage (cloud) system which can also be used for decentralized websites, blogs, social media, communications and other apps. There will also be a rewards system to reward good content as well as a completely new governance system, consensus system, leveling system based on influence which gives weight to the decentralized voting system, and endless possibilities for other decentralized applications to be built atop the platform.
This platform may well begin the process of rebuilding the internet without any centralized control!
The implementation of a fair voting system that is based on contribution by users to the network and its usability by others seems to be the fairest way to ensure anyone can get involved without sacrificing the security and stability a truly decentralized project like this will demand. Especially when it comes to addressing illicit attempts on the network which need to be sanctioned or removed all together. There will be a ‘level’ system on certain account types which will allow the weight of votes to be based on the amount of input the user gives toward the overall system’s functionality and usability. No longer will votes be weighted and based on the amount of coin a user has. We don’t want any person or entity to have the opportunity to manipulate their way into this new design and potentially sabotage the good intent/stability of its conception!
In other words, with the creation of the custom leveling/influence system, comes the ability to build a truly decentralized community-run economic system within the network. The ability to create ‘committees’ of users focused on any aspect of the system that may require some sort of oversight, such as the concept of ‘illicit activity’ is also well within the scope of the platform’s functionality.
The decentralized trade portal will be the first ‘big feature update’ which will take place after the initial network launch. The portal will be the ‘Phase 2’ of the launch and should take place shortly after the initial launch. Having a place for users to trade the service coin ‘QORT’ that powers Qortal’s services will be essential in allowing the adoption and use of the various system services. However, it’s important to note that the network needs to be strong and large enough prior to attempting to run any large system on top of it. Therefore, it will be essential to launch the base network first. Please note: the project is called Qortal and the ticker for Qortal’s coin is ‘QORT’.
At the current moment, we are working out a method for BTC/QORT trades to be implemented at Phase 1 launch, however, we are not going to guarantee this to be part of Phase 1. We will, however, promise that the trade portal addition will take place ASAP! We hope to launch the trade portal (at least the BTC/QORT market) within a month of the launch of Phase 1.
All of the main features of the system are already functional on the back end. This includes the necessary portions for the decentralized trading. The UI for everything is still under development along with the various system ‘rules’ that govern how everything will function. Therefore, the launch taking place in multiple phases is done for multiple reasons: both to not overwhelm users with too much at once, to allow for more time to finish up the small details and rules, and to finish UI updates that will be necessary prior to allowing the platform to be utilized by the public.
Another aspect of the Qortal project and future applications to be built on top of the chain, is the hardware devices to be developed by Crowetic Computers LLC (herein referred to as Crowetic). Crowetic is fortunate to have extremely educated, experienced and talented developers who can build virtually any type of hardware device and supporting code to meet demands. This can easily be applied to government and commercial clients as well.
The QORTector device is 100% open-source both in terms of hardware and software. The device comes with an Orange Pi Quad Core ARM Cortex-A53 with NEON, FPU, Java Acceleration and will be automatically configured to run as a blockchain node with network configuration and state-of-the-art security measures. Also included in the device is a personal Tor Router with Socks5 Proxy which will allow users to tunnel blockchain and browser traffic through it to your home/office LAN or CoinD. All while running on only five watts of power! This device is a great way for anyone to get involved and start earning rewards as well as increase the security and provide anonymity of any device connected to it with the advanced security features it offers to combat the latest threats. User can also host their own websites or other applications including data cloud storage without ever needing a second computer or server. Lastly, rewards are projected to provide even the basic user with enough return to cover their internet service cost! For more information on the QORTector device, please refer to the QORTector Device Overview document on wiki.qortal.org!
This first step is Phase 1 of the launch. That is, to get the base network layer out: the base level of the completely custom web-based UI platform, the Minting system, leveling for minting accounts, and a basic understanding of the overall concepts presented in the platform.
Phase 1 - The Launch & Network Growth Phase
The first step is for users to be able to download the platform, run nodes, and introduce the first leveling-enabled accounts (minter).
As the network grows, user accounts will become ‘minters’ and be rewarded with Qortal’s coin ‘QORT’ for their assistance in growing the network as well as securing the blockchain.
The initial coin distribution will begin and the blockchain starts with 0 QORT coins at launch. With each block, every minter is rewarded based on a percentage in their respective level group (i.e. levels 1 and 2 are a group which will have a set block reward distributed among them; the same grouping goes for levels 3 and 4; levels 5 and 6; levels 7 and 8; levels 9 and 10). Founder accounts have been created for those whom without the platform would not have been launched. Founders obtain a larger portion of the block rewards initially as they are both more important for the system security while the user base grows as well as have put a ton of contribution into the development and planning of the system (without any reward for 4+ years). Over time, the founder accounts will diminish in overall influence and reward until founders become no different than any other max level (level 10) account.
The QORA holder burn transition period will end at launch. Users who previously held QORA and burned it in the described method (by sending their coin to QORA genesis account) will collectively obtain 20% of the block rewards on every block, regardless of being a minter or being online/contributing. The rewards will be distributed based on the weight of the total amount of coin burned by the previous QORA account. By importing of the QORA seed into Qortal, users will have proved ownership of the account that burned coins, and submit the information to the genesis block in Qortal. An asset called QORA on the Qortal chain will be distributed to the previous holders as a ‘marker’ for the burned coins. This asset will not be tradeable nor sendable. Once the user reaches the 250 QORA to 1 QORT ratio (250:1), they will no longer receive rewards from the QORA transition.
Phase 1 Launch Base Features
(items with * are not for sure yet)
QORT Service coin (main platform ‘coin’)
Shared Minter Rewards (reward-share transactions)
QORTector Device (Gen 1) (http://wiki.qortal.org/doku.php?id=qortector_device_overview)
Minting & Rewards for Securing Blockchain
*Simple BTC/QORT Trade System prior to full Trade Portal*
Minter Creation via ‘Sponsorship’
Leveling for Minters
Voting System Based on Level
QORA Asset / Transition at 250 QORA to 1 QORT Ratio (250:1)
Custom Web Based UI Platform
Simple Account Creation
Secure Access Through Local or Hosted Nodes
*Asset System for Asset/Token Creation*
*Asset Exchange for Trade of Assets to Qortal*
(Trade Portal will allow asset/BTC trades in future updates)
Built-in Block Explorer
*Code Repo on Qortal Itself*
*Qortal Site Hosted on Qortal Prior to Public Hosting Options*
Project Launch Phases Overview
(All Phases after Phase 1 will be pushed in an auto-update to the system)
Phase 1 - on February 2nd 2020 (02/20/2020) Network Launch, Minter Accounts with Leveling, Voting System, Basic Network Functionality, and potentially Basic Trade Options with BTC, without extensive order books.
Phase 2 - around 1 month after Phase 1 launch, pushed in an auto-update - Trade Portal addition with at least BTC/QORT market. Taking votes and suggestions on next coins to list.
Phase 3 - pushed in an auto-update - Data Storage, Data Nodes, Data SuperNodes, Rewards for each based on fees paid by users of the storage, and Web Hosting for client side languages.
Phase 4 - pushed in a future auto-update - Blogs, Social Media, Communication with Rewards and Levels for content creators.
Features Planned and Status TLDR
Planned Update - development status (complete / in progress / not started yet / completion & update estimate)
Trade Portal - Back End Complete - Front End (User Interface) in Development - Phase 2 launch update - planned within a month of Phase 1 launch. Updates in Qortal take place automatically (auto-update feature is another feature that is unique to Qortal) once the official version is approved and tested by the community.
QrowdFund Decentralized Crowdfunding with BTC support - Back End and SmartContract Complete with automation of creation - Front End built in QORA; needs transferring to the new hosting method in QORT - Planned for after Phase 2 implementation. A previous QORA application and SmartContract system that allows for decentralized automated CrowdFunding. With added support for BTC thanks to native BTC support in Qortal.
Committees and Funds - Planned for around Phase 2 . Allow users to create funds with shared contribution from Minters or creation of committees (groups) for various use cases within the system, clubs and so on.
Data Storage / Data Nodes and Data SuperNodes with Rewards - Planned for Phase 3. Most of the back end work is complete. Rules and some UI work needed.
Decentralized Code Repo (on Qortal itself) - Planned for Phase 3. Hosting the code repo on the platform itself for no reliance upon centralized services for code updates.
Public Decentralized GitHub Repo for Other Projects - Planned around Phase 3. Hopefully the first ‘hosted app’ on the platform. Allowing others to utilize Qortal’s decentralized network for their GitHub repos.
Web Hosting - Planned for after Phase 4. Allowing users to host websites on the decentralized network of Qortal. Utilizing the Data Nodes to store the data. Client Side languages supported first followed by support for Server Side; along with rewards for dedication of both space and computer power.
Blogs/Social Media with Rewards - Planned for Phase 4. Allowing users to post blog posts and be rewarded for the content. Other users can vote on the content and increase the content creator’s level to receive larger rewards and higher influence. This also needs more thought for the details of the system as far as where rewards will come from/counterparts. Modification of block rewards may be necessary during this phase.
Application Hosting - Planned for after Phase 4. This will be the support for applications hosted on Qortal; will require details regarding how every aspect will function as well as how server side hosting and sharing of CPU power/Data required will take place within the system.
Since the current team took over the QORA development, it was decided that allowing QORA to ‘transition’ into QORT was appropriate. Users who held QORA will be able to ‘transition’ onto the Qortal chain and into the QORT coin/coin; QORA will not be usable in Qortal. Burning QORA by sending the coin to the QORA genesis account enables users to obtain Qortal via the QORA Transition.
20% of every block’s reward, regardless of who forged it or whether the QORA Transition User is a minter or not, will be distributed to the QORA Transition Users. The amount of each 20% payment a user will receive is based upon the amount of QORA they burned (giving them a ‘weight’ as the 20% is split among the total amount of QORA Transition Users). The QORA asset on Qortal is given to the Transition Users to denote the total amount of coin they burned. At the point that the ratio of 250 QORA to 1 QORT (250:1) is reached, the transition is then complete and that user is no longer rewarded from that 20% of the block reward for every future block.
USERS WHO DO NOT BURN THEIR QORA PRIOR TO THE QORTAL PHASE 1 LAUNCH AND START OF THE BLOCKCHAIN WILL NOT HAVE A CHANCE TO DO SO IN THE FUTURE! The information must be in the genesis block in order to be executed in a totally decentralized fashion. Therefore, the burn must take place prior to the launch.
QORT (Main ‘Coin’ and Platform ‘Service Token’)
Initial Block Reward is 5 QORT. Block reward occurs on an average of 60 seconds. This number will decrease every 6 months until reaching 2 QORT where it will stay unless voted to modify.
Reward Schedule and Reduction
Block 1+ Reward: 5.00
Block 259,201+ Reward: 4.75
Block 518,401+ Reward: 4.50
Block 777,601+ Reward: 4.25
Block 1,036,801+ Reward: 4.00
Block 1,296,001+ Reward: 3.75
Block 1,555,201+ Reward: 3.50
Block 1,814,401+ Reward: 3.25
Block 2,073,601+ Reward: 3.00
Block 2,332,801+ Reward: 2.75
Block 2,592,001+ Reward: 2.50
Block 2,851,201+ Reward: 2.25
Block 3,110,401+ Reward: 2.00
No Total Coin Cap on QORT, every ‘6 months’ there is a decrease in block reward from its start at 5 coins, by .25, until 2 coins is the reward. That is, unless a vote is made with the suggestion of an increase, which is also possible by submission of a proposal in the system and subsequent vote. The potential for an increase of up to 1 coin per block is possible via vote, however, this type of vote can only take place one time per ‘year’ (in blocks).
QORA Transition Amount is a total of 250 QORA to 1 QORT, based on the amount of QORA burned by users. 20% of every block’s reward, goes to the people who burned QORA and proved themselves owner of the burning account by importing their QORA seed to qortal. Therefore, we will not be aware of the total QORT to be given in this transition, until the Genesis block and all burners of QORA have completed their inception on Qortal chain. It’s important to note that the total amount of QORA is 10 billion with quite a bit lost or inaccessible on several exchanges, so going by this alone, 250x less QORA is potentially possible, but won’t be that much in reality either way. 40,000,000 is likely the total if every QORA burned.
For More Information
To learn more about the Qortal Project, please check out the wiki page at: wiki.qortal.org as well as join us on Discord ‘QORT Project Official’ chat: https://discord.gg/EjcntK