Introduction to QURAS GAS Coin (XQG) Part 1

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QURAS blockchain handles two types of coins, QURAS coin (XQC) and QURAS GAS (XQG).

The community often asks questions about XQG, and the purpose of this article is to introduce XQG in detail.

Coins handled with QURAS blockchain

The following two types of coins are handled in the QURAS blockchain.

1.QURAS coin (symbol: XQC)

XQC is used as a means of value transfer in the QURAS blockchain.

888,888,888 XQC will be issued at a time when the QURAS blockchain is in operation, and will not be issued any further.

2.QURAS GAS coin (symbol: XQG)

XQG is used as a commission in the QURAS blockchain (referred to as GAS in the blockchain world, since it is used as a sort of fuel).

Unlike XQC, XQG is issued gradually in a mining-like fashion. Eventually, XQG issuance will continue until the issuance limit of 888,888,888 XQG is reached.

In this way, QURAS handles two types of coins, but QURAS is not the only one. For reference, there are NEO (NEO / GAS) and VeChain (VET / VTHO) as blockchains that adopted a form similar to QURAS.

Issuing pace of QURAS GAS

Let’s look closer at QURAS GAS (XQG).

XQG is issued every time a block of QURAS blockchain is generated. Since block generation of the QURAS blockchain is every 18 seconds, XQG is issued every 18 seconds.

As for XQG — 88,888,888 XQG is initially issued at the start of blockchain operation, and the remaining 800,000,000 XQG is issued by block generation.

Similar to mining in Bitcoin, XQG issuance also has increasing difficulty. The difficulty level increases every time 2 million blocks are generated and becomes constant after 14 million blocks. In other words, as a general rule, the number of XQGs that are issued decreases every 2 million blocks created.

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Relationship between block generation and XQG issuance

As you can see, XQG issuance is completed when 44,000,000 blocks are generated. This is when 9,166 days + 16 hours have passed since the QURAS blockchain started operation.

XQG distribution

The issued XQG is distributed to the consensus node, and XQC holders can withdraw XQG by applying according to the number of XQC holders.
XQG can only be earned by users with XQC in a transparent wallet. On the other hand, if you have an XQC in an anonymous wallet, the XQG that you originally get will be burned automatically.

This image illustrates it well:

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XQG distribution

In other words, the more QURAS anonymous function is used, the more XQG supply will decrease. For this reason, the value of XQG is expected to rise over time.

Thank you for reading! In Part 2, we will introduce specific uses of XQG.

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Secret Contract Platform for Privacy 2.0

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