BitClave Chooses Qtum For Blockchain Foundation
We are excited to announce that we are building on top of Qtum, an open source Proof of Stake (PoS) blockchain application platform. This cooperation will allow to improve transactions speed and throughput, increase security and execute smart contracts from lite wallets, which can be easily installed on any given mobile device. Earlier BitClave announced an invaluable partnership with Bancor.
Qtum is a hybrid blockchain application platform. Qtum’s core technology combines the advantages of bitcoin core, an Account Abstraction Layer allowing for multiple Virtual Machines including the Ethereum Virtual Machine (EVM) and Proof-of-Stake consensus aimed at tackling industry use cases. Its hybrid nature allows Qtum applications to be compatible with the major blockchain ecosystems and effectively combine their best parts, such as the power and simplicity of the Bitcoin protocol with the flexibility of Ethereum smart contracts.
What makes Qtum a viable option for enterprise-level blockchain applications, like BitClave’s Active Search Ecosystem (BASE), is the ability to use Proof of Stake as a consensus mechanism. The more the network is used, the higher the volume of transactions, the more energy required to achieve true consensus. Proof of Stake gives an opportunity to build blockchain solutions capable of handling a higher transaction throughput, ideal for businesses and high-activity ecosystems like BASE.
“We are thrilled to announce that we will build on Qtum. Building a bridge between Bitcoin and Ethereum communities, Qtum is definitely one of the most innovative platforms in the blockchain industry. It is secure, stable and fast. As BASE will be handling thousands of B2C interactions, having such a stable, powerful foundation is a key point for us”, — said BitClave’s founder Alex Bessonov, the former Chief Security Officer of LG Electronics.
Patrick Dai, co-founder of Qtum said, “We are delighted that our technology is supporting such an industry leading project, as BitClave’s search ecosystem. We see enormous potential for BitClave to revolutionize the digital ad market as we know it.”
Qtum is a blockchain application platform. At its core, Qtum combines the advantages of Bitcoin Core, an Account Abstraction Layer allowing for multiple virtual machines, and a proof-of-stake consensus protocol aimed at tackling industry use cases. The Qtum Foundation, headquartered in Singapore, is the decision-making body that drives the project’s development. Learn more at qtum.org.
BitClave is a startup company using blockchain to eliminate ad service middleman and create a direct connection between businesses and customers. BitClave is building a decentralized search engine that helps its users truly find what they are looking for and get compensated every time they click on search results for products and services from their favorite brands, making third-party advertising networks unnecessary and annoying ads a thing of the past. For more information visit www.bitclave.com.