Interactions with Blockchain

The main types of interactions with the blockchain occurring within the Qualoo ecosystem include the following:

Confirmation of data submission: Each time a Test Node submits data and it gets validated, a checksum (a compact summary) of the data is created and then written to the blockchain. This ensures verifiability for data collection.

Certificates of quality: As the network matures, Qualoo will start assessing various Internet Service Providers (ISPs) for their service quality. Top performers will be awarded certificates of quality, which will be recorded on the blockchain. This provides a transparent and tamper-proof record of their achievements, lending additional credibility to these ISPs.

QXT smart contract deployment: The QXT token smart contract will be deployed to the blockchain prior to the Token Generation Event (TGE). The smart contract will outline the rules and operations for the QXT token, including aspects such as transfer of tokens, balance checks, and token minting.

Minting QXT: QXT tokens will be created or "minted" in line with our vesting schedule spanning multiple years. This process is performed on the blockchain, ensuring transparency and verifiability.

QXT Transactions: Transactions involving the transfer of QXT tokens between parties on the secondary market are recorded on the blockchain. Each transaction is secure, transparent, and permanently recorded.

Minting NFTs: Qualoo will mint Non-Fungible Tokens (NFTs) for various purposes, such community building. Each NFT is unique and can represent ownership of a specific item or achievement within the Qualoo community. As with QXT tokens, the creation and ownership of these NFTs will be recorded on the blockchain.