Internet City, Dubai–(Newsfile Corp. – January 15, 2023) – LBank Exchange, a global digital asset trading platform, will list Qitmeer Network (MEER) on January 16, 2023. For all users of LBank Exchange, the MEER/USDT trading pair will be officially available for trading at 10:00 UTC on January 16, 2023.
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As a high-performance public blockchain powered by the MeerDAG consensus, Qitmeer Network (MEER) aims for a decentralized network and a better society where anyone can contribute. Its native token MEER will be listed on LBank Exchange at 10:00 UTC on January 16, 2023, to further expand its global reach and help it achieve its vision.
Qitmeer Network is committed to being the next-generation public blockchain network supporting Islamic finance, with a secure and stable underlying network using BlockDAG (Directed Acyclic Graph of blocks) for data structure, and an efficient Layer2 eco-application layer with pluggable virtual machine system driven by MeerDAG consensus, providing open infrastructure services for Islamic finance ecosystem, ethical finance, and socially responsible investment, with a mission to promote financial inclusion and create social benefits. By innovating its consensus mechanism workload proof, it aims to provide new solutions to enhance financial inclusion.
The MeerDAG consensus is a hybrid BlockDAG protocol. Its fundamental Consensus protocol SPECTRE is a fast-confirmation and high-throughput BlockDAG protocol, which guarantees high performance in a payment network. Additionally, Qitmeer introduces another high-throughput BlockDAG protocol GhostDAG, which is highlighted on unprecedentedly supporting transactions linearly ordering, to circumvent SPECTRE’s weak liveness and provide ordering service for the fair scheme of the reward system.
Simply put, with MeerDAG consensus, Qitmeer has the ability to process transactions quickly, achieving a higher TPS, and has lower transaction costs. Developers can enjoy these benefits by developing DApps and building the ecosystem on MeerEVM, which can provide a better user experience and contribute to the increase of ecosystem activity.
Qitmeer regards openness, fairness, fault tolerance, and scalability as the core metrics to assess a promising blockchain paradigm, and a blockchain system achieved a desirable balance among these metrics is regarded as Classical Blockchain Setting. Qitmeer Consensus is compliant with Classical Blockchain Setting – it could enter and leave network freely by Proof-of-Work, and the collaboration model of DAG ledger guarantees that miners gain rewards consistent with their devotion, 50% faulty tolerance as secure as bitcoin, robust scalability that is only subject to physical network limit. The mining algorithm is also a vital source of fairness other than consensus algorithm per se. Cuckoo Ring is a graph theory based proof-of-work mining algorithm and is practically ASIC resistant due to memory-hard calculation.
A decentralized and large scale full-nodes network is another layer of defense beyond the hashrate, keeping the Qitmeer Network highly resilient and securing the ecosystem. To explore Qitmeer, a user can become a Qitmeer miner, taking real control of the accounting and earning system rewards in BlockDAG collaboration mode, and verifying all blocks and transactions to ensure they comply with consensus rules, thus protecting ecosystem security. Having a complete Qitmeer ledger allows for faster querying and enables companies to parse specific data on a regular basis.
About MEER Token
As the universal assets of Qitmeer Network, MEER is all generated by PoW consensus. It acts as the medium of network value storage and value transfer as well as the bridge of value communication between network ecosystems and the basis of cross-chain interaction with the ecosystem outside the chain. The continuous movement of Meer as a means of circulation and payment provides a continuous driving force for the development of the network.
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.
The MEER token will be listed on LBank Exchange at 10:00 UTC on January 16, 2023, investors who are interested in the Qitmeer investment can easily buy and sell MEER token on LBank Exchange by then.
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LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute the global adoption of cryptocurrencies.
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