Switching to QTUM
As a blockchain technology company, picking the right blockchain to build on is no different from getting married, it is a long term commitment based on: trust (in the lead team), love (of the tech), and filled with hope(of having plenty of beautiful DApps together); which is why we have decided to make the switch from Ethereum to QTUM.
This has been a strategic decision that was made after a whole month of research and development, which is reflected in our updated development architecture. We expect that a lot of our readers and followers will have many questions on the switch which is why we have prepared a small list of FAQs, at least until we can roll out some more meaty updates.
Q: What is QTUM?
A: QTUM is an open-sourced value transfer platform which focuses on mobile decentralized apps or dapps.
IAME: QTUM was built as a hybrid blockchain that incorporates the best of Bitcoin and Ethereum functionalities.
Q: Why QTUM?
A: There are 3 core reasons that make QTUM better for DApps deployment:
Transaction Handling: Qtum has operates segwit with 2mb block size, and a block time of around 2 minutes. This allows QTUM to handle 70 Tx/s on chain. Future plans in the pipeline will boost that to 20,000 Tx/s.
IAME: Currently 6x Ethereum, QTUM will soon reach 1000x Ethereum transaction capabilities.
QTUM X86 VM: Coming soon is the QTUM X86 Virtual Machine, a smart contract operating software that is designed to enable easily deployable decentralized applications in various programming languages.
IAME: QTUM X86 VM will advance DApps development to levels never seen before.
Pos (Proof of Stake), QTUM is the first to implement smart contract solution powered on PoS. PoS cryptocurrencies are more energy efficient than cryptocurrencies based on proof-of-work algorithms.
IAME: Save the environment by staking instead of mining!
Q: What does that change for IAME
A: The IAME framework was at conception built as a coin agnostic system that would support any cryptocurrency, with the base blockchain on which we were going to build our IAM token(ERC20) and hash the data being Ethereum. Our IAM token will now be QRC20 and we will use QTUM to hash data.
IAME: On the long run our DApp will be more efficient and scalable!
Q: I invested, what happens to me?
IAME: Sit tight and your tokens will be delivered on your phone!
Q: I participated IAME bounty, what happens to me?
A: Two bounties were issued since we started the project:
- App Bounty: If you have participated in the App Bounty, you will have to update the app to the next version with QTUM and QRC20 support.
- Bitcointalk Bounty: If you have participated in the Bitcointalk Bounty, you will have to download next version of the app to the next version with QTUM and QRC20 support, and the tokens will be airdropped onto the IAME wallet. We will make an announcement soon on how to claim your bounty.
IAME: No worries there, we have not forgotten our supporters!
If you have any other questions about the switch to QTUM feel free to contact us on any of the channels below or by email at firstname.lastname@example.org