mission is to provide an opportunity for investors looking for high profits, not possible in the old economy. It will do so through a simple and trustworthy entry point, providing them with an excellent experience, which is crucial for keeping them investing in the new
Qtum (Quantum) is an open source, decentralized project that aims to
capitalize on the success of Bitcoin, while competing for the
Decentralized Application (DAPP) and Smart Contract market. Our goal is
to work with industry partners, and launch the first Value Transfer
Protocol (VTP). This will streamline daily business routines, and allow
for easier adoption. Qtum aims to become the first platform with Smart
Contracts that execute as part of an Unspent Transaction Output (UTXO).
The process of money creation in Bitcoin - referred to as mining - involves executing software that utilizes your hardware running sha256 hashes until a certain criterion is met. This part of the mining process is called generating a "Proof of work". The whole mining process also has a critical role in processing transactions and providing security to the network. It is estimated that all the processing power devoted to Bitcoin mining represents more computing power than several of the largest supercomputers in the world combined. Wouldn't it be great to be able to use all that massive power for something else?
Mining= COMING SOON
A basic miner is embedded in the client (use "setgenerate true"), but a fork of cpu-miner that is much more optimized will be released too. Optimized mining requires a sieve, which in general create a RAM access bottleneck, so it's hard to predict how much improvement would you get by using the GPU. I'd bet someone will find a way to implement an efficient GPU miner. Same thing with ASICs. But if they make an ASIC for this, they would be making an ASIC that could be used to find interesting prime number structures.
In this section we will discuss the Qtum Blockchain, a new Cryptocurrency created for consumers and businesses. Qtum is designed to be secure, stable, and fast. Quantum has expanded the scripting language of Bitcoin Core, so that it will now be possible to run Smart Contracts based on the Unspent Transaction Output model (UTXO). This means Qtum will not require the use of accounts to execute contracts between interested parties. Existing Ethereum Smart Contracts can be ported to Qtum with minimal changes. Other virtual machines and programming languages will be supported as the project matures. There will be functionality for third party data feeds and oracles, along with ÃÂ¢ÃÂÃÂoff chainÃÂ¢ÃÂÃÂ data processing. QtumÃÂ¢ÃÂÃÂs consensus model will utilize Sunny KingÃÂ¢ÃÂÃÂs classic Proof-of-Stake, which will secure the Blockchain, while rewarding coin holders.
Qtum aims to bring a new ÃÂ¢ÃÂÃÂValue Transfer ProtocolÃÂ¢ÃÂÃÂ to the industry. Bitcoin has done a tremendous service to the commerce and finance industry by providing a means of value transfer, and we would like to expand on this momentum. We plan to support the Qtum Blockchain with Smart Contracts that allow users to control coins by taking advantage of various Internet Protocols.
One project that will be released as a working beta is SpringEmail, which uses a modified Simple Mail Transfer Protocol (SMTP). This allows users to send and receive Qtum as part of an e-mail. We call this hybrid protocol ÃÂ¢ÃÂÃÂBiSMTPÃÂ¢ÃÂÃÂ. This should lessen the learning curve for users interested in Qtum but do not have a wallet.
For more information, please see:
One of QtumÃÂ¢ÃÂÃÂs growth strategies is the mobile telecommunications market. There is a vast amount of consumers that may not be aware of digital currencies, but could be introduced to Qtum by means of a viral marketing campaign. This does not mean that the average user isnÃÂ¢ÃÂÃÂt accustomed to paying with their mobile devices. In China, Wechat leverages their userbase of over half a billion people, to make payments for everyday goods and services. Just like Apple Pay, they make a quick scan with their device at the point of sale, and the money is deducted from their account. We plan to build Quantum applications that integrate into the popular messaging platforms like: Wechat, WhatsApp, Viber, and so forth. We call this the Qtum ÃÂ¢ÃÂÃÂGo MobileÃÂ¢ÃÂÃÂ strategy.
The English version of the whitepaper is being edited, and will be released in January 2017.
Meet Our Team:
Qtum core team comprises of several members, spanning the globe.
Patrick Dai (China/Singapore) - Project Co-Founder
Neil Sakr (Morocco/China) - Chief Blockchain Architect / Co-Founder
Jordan Earls (USA) - Lead Developer / Co-Founder
Caspal (China) - Qtum Developer
Qiyu (China) - Qtum Web developer
DJaen (Sweden) - Qtum Test developer
Time Markov (Macedonia)- Qtum Developer
Toni Markov (Macedonia)-Qtum Developer
Alex (Belarus)- Qtum Developer
Mike Palencia (China / Colombia) - Project Manager
Brett (Canada) - PR / Community
John Scianna (USA / China) - PR / Press
Ibai Basabe(USA/China)-PhD Product Manager/Researcher
Emiliano (Argentina) - PhD Document Writer / Researcher
Carry Shen (China) - PricewaterhouseCoopers (PWC) process control
Major completed milestones:
1- Quantum model:
The first challenge for us was to make a model for Quantum that integrates both the EVM and Bitcoin UTXO model. The EVM natively uses a state database, so we had to extend its capabilities to work with a UTXO based accounting model.
While we decided to keep a state database for storing smart contracts code and data, our model uses UTXOs for all financial operations of the EVM.
After finishing the model, we moved to the implementation.
2- Quantum Implementation:
The implementation was based on Bitcoin core 0.13 and cpp-ethereum EVM part. After integrating the EVM code and dependencies with Bitcoin core, we worked on implementing the Quantum model which required adding support for Quantum smart contracts creation, funding and calling through Bitcoin script, and also adding UTXO support to the EVM.
Other implementation details were also finished, including the Quantum gas model, EVM coin picking algorithm and much more.
We now have a fully working implementation of the Quantum model which is being currently tested.
3- Bitcoin core proof of stake:
The proof of stake (PoS 3.0) algorithm was ported from Blackcoin to Bitcoin core 0.13 and is now in final stage testing with dozens of nodes deployed.
1- Quantum wallets:
Work is in progress to make brand new desktop and mobile wallets for Quantum, for the desktop wallet, we are working on a dynamic and user friendly wallet which will include in addition to the classic functionalities, support for smart contract operations and a new innovative design.
Our Mobile wallet is also in the works, with versions for iOS and Android, the initial mobile versions are already in testing.
2- Merging with proof of stake:
We are currently working on merging EVM and PoS branches of Quantum.
3- Testing Quantum:
We are currently testing the Quantum implementation. In addition to Bitcoin and EVM automated tests, we are writing our Quantum specific test suite.
Other than automated testing, manual testing is currently taking place as well.
After finishing in-house testing, we will require external code reviews and testing from independent and professional renowned software developers and companies.
4- Releasing Quantum Sparknet (testnet):
Once our initial Quantum prototype has passed internal and external testing procedures, it will be time to launch the Quantum testnet code named "Sparknet". which will be the final real world test before the official release.
Happy new year ! From Qtum Foundation"
Quantum has generated some press, due to our attendance at conferences and Blockchain events. Some press sites have picked up on our development before officially launching, please visit these links below:
- Global Blockchain Summit in Shanghai: "Uniting the Networks" of Blockchain Technology
- Qtum Blockchain Ports POS 3.0 to Bitcoin Core 0.13
- Qtum Introduces Master Contracts and ID Identification
- Qtum Virtual Machine and Gas Mechanism Design Principle Part One
- Qtum Innovation Project, Building an Ecosystem Other Than Bitcoin and Ethereum
- Qtum: Building The Bridge
- Qtum Team Wins The Best Innovation At Second Global Blockchain Summit
- Will The Financial Industry Use Blockchain? Qtum Offers This Possibility
- Quantum Team Wins MVP
- Why Build Another Blockchain?
- Qtum Chinese Whitepaper
- Helping Newcomers Use Blockchain Technology
- Qtum Team Introduces New Blockchain
- IBM Blockchain Summit 2016 Best Innovation Award
- Qtum Announces Their First Community Project: SpringEmail