-DollarBit (Bitcoin 3.0) PoQ algorithm-

[DollarBit]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

More information coming soon...

/thx/

#it_hamilton

www.dollarbit.org

[1715209132]

1715209132

[1715209132]

1715209132

[1715209132]

1715209132

[Verethraghna]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

More information coming soon...

/thx/

#it_hamilton

www.dollarbit.org

Your POQ sounds more like currently existed POS(Proof of Stake), can you give an example how your POQ differ from a POS?

[DollarBit]

Hi, Verethraghna.

As you know, POS is based on stakes, meaning that the creators of the blocks are chosen based on their wealth. POQ does not take wealth into account when choosing the creator of a new block. Consider it an advanced version of POW, rather than POS, as the determination method is vastly different.

/thx/

#it_hamilton

[yume91]

Can I mine it ?

[hurr1cane]

hi, do have wallet to mine with and pool??  please release win64 compiled

[coin8coin]

keep watching on this, when will release the wallet and pool ?? or something Qp system ?

[0ghostleader0]

im watching this,hope more details

[sxafir]

How is poq working?

[ImHash]

Keep on watching you noobs I wanna know how does an advanced POW algorithm works, OP if your algorithm is not taking into the account the wealth of participants and if it is not requiring much of mining power, What do we have to do and with what kind of hardware to mine this coin?

[JWKY]

Interesting PoQ, new and I not yet saw on any coin
let wait and see how DollarBit doing

[dafuqss]

Proudly made with : https://www.cryptocoincreator.com/ 

[BTCdoaA]

PoQ interesting new concept ,reserved and watching for more information ? when exactly  ?

[monsanto]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

PoQ & the Participation Coefficient (Qp) sounds a little like NEM's proof-of-importance. IIRC it incorporates a metric based on transactions on the network.

[DollarBit]

Can I mine it ?

yes, you can

/thx/
#it_hamilton
www.dollarbit.org

[dafuqss]

Can I mine it ?

yes, you can

/thx/
#it_hamilton
www.dollarbit.org

When?

[DollarBit]

hi, do have wallet to mine with and pool??  please release win64 compiled

Yes. In DollarBit blockchain, wallet is called "CryptoBank", because the main priority of DollarBit project is on secure, anonymous cryptocurrency storage.
DBIT CryptoBank has two mining options--individual and pool. Introduction of the Qp incentivizes active mining and continuous involvement in the blockchain.

/thx/

#it_franklin
www.dollarbit.org

[dafuqss]

When can we expect wallet release, roadmap, and more updates?

[DollarBit]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

PoQ & the Participation Coefficient (Qp) sounds a little like NEM's proof-of-importance. IIRC it incorporates a metric based on transactions on the network.

you are correct that PoQ is a "little like Nem's proof-of-importance". however, PoQ is an evolution of PoW, while PoI is more like PoS.

/thx/

#it_hamilton
www.dollarbit.org

[J@soN]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

More information coming soon...

/thx/

#it_hamilton

www.dollarbit.org

Ok let me guess this is ico right? I hope i'm wrong, how to get some of this coin then?
ICO, mining, airdrop?

[DollarBit]

PoQ interesting new concept ,reserved and watching for more information ? when exactly  ?

subscribe for updates on our website www.dollarbit.org and follow us on twitter.com/dollar_bit for latest information.

/thx/

#it_hamilton

www.dollarbit.org

[DollarBit]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

More information coming soon...

/thx/

#it_hamilton

www.dollarbit.org

Ok let me guess this is ico right? I hope i'm wrong, how to get some of this coin then?
ICO, mining, airdrop?

Fortunately, you are wrong   This is not an ICO. No airdrop. DollarBit will be mined.

/thx/

#it_hamilton
www.dollarbit.org

[dafuqss]

Website is down?

[J@soN]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

More information coming soon...

/thx/

#it_hamilton

www.dollarbit.org

Ok let me guess this is ico right? I hope i'm wrong, how to get some of this coin then?
ICO, mining, airdrop?

Fortunately, you are wrong   This is not an ICO. No airdrop. DollarBit will be mined.

/thx/

#it_hamilton
www.dollarbit.org

Ha! Great news then. But still need more info how to mine this coin and when you plan to launch?

[dafuqss]

Proof-of-Q (PoQ) is an evolution of the Proof-of-work (PoW) algorithm, expanding on the original concept by introducing the Participation Coefficient (Qp). PoQ embraces the egalitarian principles established by Satoshi Nakamoto and aims to ensure system-wide stability and network balance by incentivizing the participants to maintain continuous participation in the network using several weighted metrics in addition to the computationally intensive puzzles in order to validate transactions and create new blocks (mining) such as the frequency of the participant's transactions, and the time a participant spends in the cryptocurrency blockchain network etc. In PoQ-based blockchain, the participant with a higher Qp is more likely to be chosen as the creator of the next block and have their transaction processed first.

More information coming soon...

/thx/

#it_hamilton

www.dollarbit.org

Ok let me guess this is ico right? I hope i'm wrong, how to get some of this coin then?
ICO, mining, airdrop?

Fortunately, you are wrong   This is not an ICO. No airdrop. DollarBit will be mined.

/thx/

#it_hamilton
www.dollarbit.org

Ha! Great news then. But still need more info how to mine this coin and when you plan to launch?

What he said ^

[DollarBit]

keep watching on this, when will release the wallet and pool ?? or something Qp system ?

thx crypto_bro coin8coin, more information coming soon.


Here is a short explanation of what Qp is.

Qp is the Participation Coefficient and is the key differentiating factor between PoQ and other algorithms. There is nothing wrong with core idea of PoW, and PoQ is similar in principle, but Qp makes the algorithm much more advanced. Think of Qp as a score system that determines the reputation/rating of your CryptoBank (or like a Credit Score). One of the metrics used for the calculations of the Qp is the time spent mining. This is a return to one of the original Bitcoin principles--mining.  Because the Qp is not reliant on wealth or computational power, but on the one true constant—time, PoQ is more egalitarian than other algorithms.

/thx/

#it_hamilton

www.dollarbit.org

[yume91]

Can I mine it ?

yes, you can

/thx/
#it_hamilton
www.dollarbit.org

When begin ?
And for Asic or GPU ?

[Othman_A]

Please more info about CryptoBank and Mining Pool

[loatchoat]

I am very unhappy about projects without carers

[DollarBit]

Please more info about CryptoBank and Mining Pool

The paradigm shift comes in many forms, but none so in the name itself--CryptoBank. For too long, cryptocurrencies focused on transactions, and looking for ways to improve the speed and volume of transactions. For all the progress made, no cryptocurrency can attain the frequency necessary to compete with electronic payments giants. For that reason, we contend that focusing on other aspects of blockchain technology like anonymity and more secure storage is a more viable solution than the now conventional focus on transactions. DollarBit CryptoBank was inspired by the Swiss Banks that were always considered the paragons of privacy and security, but with blockchain technology, there is an opportunity to give every participant a personal secure, anonymous storage for electronic cash. Participants can still execute transactions, but we believe that storage comes first, mining second, transactions third.

Mining is an essential part of maintaining the integrity of any blockchain network, and mining is a vital component of the Qp(more information to come later). With the introduction of  Qp, miners have an incentive to maintain their participation. The mining interface will be simplified, and you will be able to mine individually or with a pool.

/thx/

it_franklin
www.dollarbit.org

[theguvner]

Interesting, what hardware will be capable to mine this at a decent rate?

[BekantanSejagatTeamPenipu]

when launch youre coin dev
how much total suply coin, how much premine, open plan ico selling

[yume91]

when launch youre coin dev
how much total suply coin, how much premine, open plan ico selling

This is just a joke.

[DollarBit]

when launch youre coin dev
how much total suply coin, how much premine, open plan ico selling

Not an ICO
Total: 17,920,402 DollarBits
/thx/
#it_hamilton

[DollarBit]

DollarBit Whitepaper now available

www.dollarbit.org/white-paper

If you have any questions about the Proof-of-Q, ask them here. If you have other questions about the Whitepaper or about the project in general, you can ask them on the announcement board.

/thx/

#it_jefferson

[DollarBit]

About the Block Size & Participation Coefficient


In the cryptocurrency world, there are heated discussion about the block size and each cryptocurrency attempts to solve the problem differently. Our solution is to dynamically adjust the block size using the participation coefficient (Qp ), a metric designed to track the participation of the users in the system.

/thx/

#it_franklin

[DollarBit]

Please more info about CryptoBank and Mining Pool

www.dollarbit.org FAQ
-What is a CryptoBank?
In essence, CryptoBank is a wallet replacement, but in the of DollarBit network it is much more – it allows for money storage, DBIT mining, and executing DollarBit transactions. Each DollarBit CryptoBank has its own Participation Coefficient (Qp) – similar to a credit score, but instead of depending on external factors, like a normal credit score, Qp is completely dependent on you, your work in the network, frequency of use, and participation in mining. DollarBit CryptoBank is not just a wallet, it is an instrument of control over your cryptocurrency assets; and in the future, with the growth of the DollarBit network, the DollarBit CryptoBank is a valuable asset.

/thx/
#it_franklin