Partnership Announcement — QTUM
Today we are excited to announce our partnership with QTUM to develop and integrate Celer Network’s off-chain scaling solutions to QTUM, a leading blockchain application platform. Both teams will work closely on developing and integrating Celer Network’s off-chain scaling solutions in QTUM, with the common vision of enabling Internet scale on public blockchains and bringing dApp to mass adoption and real world use cases.
QTUM is an innovative blockchain system bridging blockchains and decentralized applications. At its core, Qtum combines the advantages of Bitcoin Core, an Account Abstraction Layer allowing for multiple virtual machines, including the Ethereum Virtual Machine, and a proof-of-stake consensus protocol aimed at tackling industry use cases. To support developer adoption and facilitate use, QTUM uses a X86-based virtual machine — enabling developers build Smart Contracts for QTUM using mainstream languages.
Celer Network, as a layer-2 scaling platform, will develop and integrate its off-chain scaling solutions on top of QTUM to further boost its scalability. With QTUM as the underlying security layer, Celer Network’s generalized state channel and sidechain suite (cChannel) and provably-optimal state routing algorithm (cRoute) can provide QTUM with another dimension of unlimited scalability. Celer Network’s cOS also provides a friendly development framework and application runtime that allows the QTUM community to easily access the off-chain solutions and scale their applications to millions of users.
According to Dr. Mo Dong, Co-founder of Celer Network, “With its novel technical solutions such as X86 virtual machine, QTUM brings unprecedented intelligence and platform interoperability into blockchain systems, which enables next-generation decentralized applications that meet actual business need. Celer Network has the same vision of bringing Internet scale to every blockchain. With the vibrant community and the solid team from both QTUM and Celer, we look forward to seeing Internet-scale decentralized applications go mainstream.”
Howard, core developer from QTUM also agreed that, “Celer Network is the most advanced and coherent layer-2 scaling platform. With a clean layered architecture, generalized state channels that support arbitrary state exchanges, high-performance state routing and sophisticated, easy-to-user SDK and cOS. Additionally, Celer has provably optimal routing algorithm. Celer Network can greatly improve the scalability and enable more dApps on top of QTUM. We believe Celer Network and QTUM together can really make decentralized applications mainstream.”
With the aligned vision and the complementary technical stacks, QTUM and Celer Network has agreed to form a strategic alliance. This strategic partnership includes offering mutual early access of SDK to each other and linking both sides’ tech team to ensure optimal collaboration and integration. Celer Network looks forward to working with QTUM and other ecosystem members to build blockchain ecosystems that are scalable, prosperous and sustainable.
QTUM is the world’s first Proof-of-Stake (PoS) smart contracts platform. With its unique account abstraction layer, QTUM successfully bridges Bitcoin’s UTXO model with Ethereum smart contract execution. With the x86VM, QTUM is also the first blockchain platform to allow next-gen DAPPS being developed using mainstream languages. QTUM also employs a decentralized governance protocol allowing for blockchain parameters to be modified without requiring a fork. For more information, visit: qtum.org
About Celer Network:
Celer Network is an Internet-scale, trust-free, and privacy-preserving platform running on top of existing and future blockchains. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics. For more information, visit: celer.network