Qtum, creating something special
In March 2016 was the beginning of the Qtum Project, based in Singapore. With a young minded bright team, they achieve to catch the attention of earlier investors and a lot curious people in the Crypto Currency sector. The project has already high-profile supporters as co-founder of Ethereum and founder of Jaxx Blockchain Interface, Anthony Di Iorio; co-founder of Augur and EIR at Blockchain Capital, Jeremy Gardner; OkCoin CEO, Star Xu; blockchain technology advocate Bo Shen; billionaire Kuaidi Dache founder, Chen Weixing; and Chinese angel investor Xiaolai Li, among others. The Qtum Foundation has brought together talented Bitcoin and Ethereum developers and also gifted individuals from top global companies including Baidu, Alibaba, Tencent and Nasdaq. The Qtum Foundation announced that it had pass $1million from top industry executives. Check the website: https://qtum.org/
The goal of Qtum is to join very specific functionalities between the two major blockchains of the moment, Bitcoin and Ethereum, while racing for the Decentralized Application (DAPP) and Smart Contract markets. Qtum´s was created with the intention of giving new choices to public blockchain developers, that are seeking for new alternatives. The Team believes that Qtum will become very attractive, improving the flaws existing in Bitcoin and Ethereum technologies. It will be using a incorporated support design named as “Blockchain oracles”. Smart Contrats will be called “Master Contracts” and they will facilitate interaction between blockchain and exterior data feeds. Ethereum Smart Contrats can be immediately imported to Qtum with minimal changes and in the future with development of the product other Virtual Machines and programming languages will be supported. So we can say that, it will use the best of two technologies.
With the main objective of merging the transaction technology used in Bitcoin blockchain to the consensus system used at Ethereum, providing the opportunity of working with industry partners and launch the first Value transfer Protocol (VTP). The open-source technology uses specific Key elements from each project, connecting both networks, even using it s own Blockchain and tokens. In summary, Qtum is a fork of Bitcoin Core 0.13, running with the Ethereum Virtual Machine, and adding an “Account Abstraction Layer” (where the smart contracts will be executed). Also being pioneer in the UTXO (Unspent Transaction Output), created of expanding the script language of Bitcoin Core, is used to execute the Smart Contract platform. The WhitePaper wasn´t yet release in the English version, but to some more profound technical details you can check in Draft Section of the WhitePaper. https://qtum.org/QtumDraftSection24.pdf0
The next step in the project is the release of the desktop and mobile wallets. The desktop wallet is being developed as user friendly and dynamic which will include in addition to the classic functionalities, support for smart contract operations and a new innovative design. The mobile wallets earlier versions are already in testing phase. It will not take long to the Qtum test net be release. Its code name will be “Sparknet” and it will be the last real world test before the official release. The Ico wasn´t yet officially announced but more news are being updated everyday, stay tuned to BtcTalk announcement: https://bitcointalk.org/index.php?topic=1720632.0
Some press releases about Qtum:
. http://www.coindesk.com/blockchain-angels-invest-1-million-bitcoin-ethereum-hybrid-qtum/
