The Qbase blockchain commenced on 14th September 2018 and after a couple of weeks engagement with many original community investors, it has been decided to try and salvage what we can from the Qbase code and relaunch as a fair-distribution store-of-value cryptocurrency.
An initial use-case for the blockchain is being investigated; more details will follow in due course. We are drafting a whitepaper to make public our
blockchain use-case, and this will be published at QBS block 60,000.
WHAT HAPPENED TO THE ORIGINAL DEVELOPMENT TEAM?
Unfortunately the original development team chose to abandon this project, taking a small ‘profit’ from the initial Masternode investors. There was a pre-mine in the project and some of this was used to raise the BTC from investors, the remainder of which has been recovered and will now be used as a development fund by the community. At time of the exit by the original developer, 80,000 Qbase was sent to Raskul and 50,000 QBS was sent to Gribbly. Both community members had invested time and money into this project and continue to build the community and evolve the coin for the benefit of those who initially invested, and for those who wish to become involved, or invest in the future. The original pre-mine was 1% of 20,000,000 QBS.
WHAT HAVE WE DONE TO IMPROVE THIS CRYPTOCURRENCY?
Basically, all we have changed are the paramaters of Qbase to favour miners more. The original share was 60% to miners and 40% to masternodes, but after lengthy discussion on other similar masternode coins and their share percentages, it has been realised that anything under 70% to miners can often leave miners mining at mere break-even. We aim to make Qbase more profitable to mine than most other masternode coins. So, block rewards are now 70% to Miners and 30% to Masternodes. We hope this will encourage miners to mine towards masternode collateral, rather than buy coins to do so. We want a strong network of miners, coupled with unlimited masternodes to solidify the blockchain.
WHAT DO WE WANT TO ACHIEVE WITH THIS BLOCKCHAIN?
We are proud to announce, the Qbase Blockchain Development Vision. You may read our plan, and the things we have currently started to work on at
Thanks to all involved, for being a part of this fantastic journey.