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QLC Chain Node Sponsorship Plan for Early Bird

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Dear QLC Chain community,

As with the continuous expansion of QLC Chain’s adoption in the telecom industry , to achieve sustainable development of the QLC Chain ecosystem has been increasingly critical to the project, QLC industry partners and the community. With an eye towards pushing forward the growth and decentralization of the QLC Chain nodes, thus further enhancing the QLC Chain security and overall performance, the QLC Chain team now offers delegating voting power and free QLC staking for the eligible early bird node runners!

Join the Sponsorship Plan now

This post details the eligibility requirements for applying for node running sponsorship from the QLC Chain team.

  1. How to apply

Access from the application portal on the QLC Chain explorer:

https://explorer.qlcchain.org/portal

2. Overview: Application and review

Please note that the mining and voting node support applications from the same QLC Chain account will not be accepted.

Voting node early bird support

Notes:

1. The application portal remains open when the 40 shortlisted applicants spots are filled up.

2. If there are any of the shortlisted applicants that are disqualified or wish to quit, the other eligible applicants will be shortlisted based on their application time, and filling up the corresponding spots.

Mining node early bird support

Notes:

1. The application portal remains open when the 30 shortlisted applicants spots are filled up.

2. If there are any of the shortlisted applicants that are disqualified or wish to quit, the other eligible applicants will be shortlisted based on their application time.

3. How to benefit from running QLC Chain nodes?

Understand QGas generation and distribution mechanism: QGas rewards from staking, incentives from mining

https://medium.com/qlc-chain/qgas-distribution-mechanism-on-the-qlc-chain-26d8aa3a29a

As published in an earlier post, when the overall difficulty of mining QGas reaches 1M and beyond, QGas rewards from staking reduce by half as with the difficulty grows by 10 times.

Currently the QGas rewards from staking have reduced by half since January 15, as the overall difficulty of mining QGas has reached 1.18M. Meanwhile QGas incentives from mining remain the same.

With the increasing difficulty and reduced staking rewards, it is the time to engage more voting and mining nodes to run on the QLC Chain for optimization of the QGas earnings of the community, further decentralization of the nodes and enhancement of the QLC Chain security.

4. Breakdown: Requirements, hardware configurations, and eligibility

4.1 For voting nodes

Requirements

  • The candidate must have an activated QLC Chain-based wallet address. The QLC account is activated with at least 1 staked QLC.
  • The applicants who are QLC Chain long-time supporters will be given priority.
  • The applicants owning a VPS will be given priority. Basic Configurations for a voting node

Application

All voting node applications must be submitted via the portal accessible from the QLC Chain wallet and explorer, by filling out the application form. The application review process will be on a first come, first served basis.

Eligibility review

All the eligible applicants must submit their applications as early as possible. All the submissions will be reviewed and shortlisted concurrently with the applications ongoing.

  1. Once an applicant is shortlisted to the supported QLC Chain voting nodes, the QLC Chain team will delegate voting power to the designated QLC Chain address of the applicant based on their rankings on the applicants’ list. The confirmation email will be sent to the shortlisted ones notifying them the result.
  2. Once the voting power delegation is completed, the shortlisted candidates must start running QLC Chain voting nodes within 72 hours after they receive the confirmation emails. If the candidate is found not to be running their voting nodes within the given time, its delegated voting power will be withdrawn without prior notice.
  3. If there are any of the shortlisted applicants that are disqualified or wish to quit, the other eligible applicants will be shortlisted based on their application time, and filling up the corresponding spot.

E.g. If A ranking 8th, C ranking 27th among the shortlisted ones are delegated with 4M QLC and 2.5M QLC respectively, the two then are disqualified, another two applicants ranking 41st and 42nd will be shortlisted and filling up the spots of 8th and 27th, being delegated with 4M QLC and 2.5M QLC equivalent voting power respectively.

4. To ensure the security and performance of the chain, all voting nodes will be monitored in terms of their online time, when the online time falls below 80% for some time, the team will withdraw its voting power without prior notice.

4.2 For mining nodes

Requirements

In line with the mining power of the QLC Chain, the dedicated hardware for mining is considered more likely to produce blocks thus being awarded with mining incentives.

Recommended hardware for mining

Applicants owning dedicated hardware for mining will be given priority.

Application

  1. The QLC Chain mining node running engagement initiative will be open for application from Jan 15th, until all 30 voting nodes have been picked and are running steadily.
  2. All mining node applications must be submitted via the portal accessible from the QLC Chain wallet and explorer, by filling out the application form. The application review process will be on a first come, first served basis.

Eligibility review

  1. All the eligible applicants must submit their applications as early as possible, all the submissions will be reviewed and shortlisted concurrently with the applications ongoing.
  2. Once an applicant is shortlisted to the supported QLC Chain mining nodes, the QLC Chain team will stake 100,000 QLC to the designated QLC Chain address of the applicant. Staking period is one year. The confirmation email will be sent to the shortlisted ones notifying them of the result.
  3. Once the QLC staking is completed, the shortlisted candidates must start running QLC Chain voting nodes within 7 days after having received the confirmation emails. If the candidate is found not to be running mining nodes within the given time, its staked QLC will be withdrawn without prior notice.
  4. The existing amount of staked QLC by the applicant must not reduce. If the applicant is found to have withdrawn the staked QLC, the team will withdraw the staking QLC without prior notice.
  5. When the shortlisted mining node wishes to quit the engagement plan, the team will withdraw the staking QLC accordingly with another eligible candidate being shortlisted based on its application time.

5. Set up and start running QLC Chain nodes

  • Step-by-step tutorial on setting up a voting node

Tutorial on running voting/mining nodes and merged mining of BTC/LTC/Dash on the QLC Chain

  • Run mining nodes with mining hardware

https://docs.qlcchain.online/tutorial/node/install.html#start-node

Read to understand more about QLC Chain

Learn more about QLC Chain https://qlcchain.org/

About QLC Chain

QLC Chain is the Next Generation Public Chain for Decentralized Network-as-a-Service. QLC Chain’s mission is to create a secure and trusted environment for telecom services and to narrow down the global digital divide by leveraging Distributed Ledger Technology (DTL).


QLC Chain Node Sponsorship Plan for Early Bird was originally published in QLC Chain on Medium, where people are continuing the conversation by highlighting and responding to this story.

Source: https://medium.com/qlc-chain/qlc-chain-node-sponsorship-plan-for-early-bird-f6b54ab752a3?source=rss----47fcc5fef70---4