Technology Behind Qtum

Technology Behind Qtum

Technology Behind Qtum is simply a proof-of-stake (PoS), smart-contract compatible blockchain that can natively run both Bitcoin-based and Ethereum-based applications. The protocol uses Bitcoin’s UXTO model of storing transactions, while also supporting oracles and two types of smart contracts. Applications built for Bitcoin, Etheruem, or either of their derivatives, should be able to port easily. The team is stacked with talent and experience, especially in business, and has framed Qtum as a the public ledger most prepared for business dapps.

• Bitcoin + Ethereum compatible: Qtum uses many features of the Bitcoin core blockchain, particularly its UTXO approach for storing transactions. This makes individual coins traceable. Qtum has a layer that abstracts the UTXO data into something the Ethereum Virtual Machine can read. This allows it to interact with both Bitcoin-based and Ethereum-based applications. Qtum will actually make this feature open-source, so any UTXO chain can use it to integrate with an EVM.

• Protocol Governance: Qtum will have a unique governance approach that is a hybrid of recognizable corporate governance, management models for open-source software, and blockchain-based consensus. The Qtum Blockchain Foundation, a Singapore non-profit, oversees the codebase, helps promote cohesion in the community, and represents Qtum to the external world. 50 people will staff one master committee and four sub-committees, with members serving two-year terms. Initial membership is already defined but the community will elect 50 representatives when their term is over.

• Master Contracts: are smart contracts that can execute based on off-chain or on-chain factors. Current designs of smart contracts are limited to checking on-chain data, so sources of off-chain data (oracles) must publish data to the chain itself; then whenever the smart contract is executed and verified, it checks readily-available on-chain data. Qtum has proposed a way for trusted data entities, such as official institutions or organizations, to provide data off-chain that master contracts can access.

• Proof of Stake: The team will use Blackcoin’s proof-of-stake consensus model. Their outreach has led them to conclude businesses are not comfortable with a proof-of-work consensus model. Using a PoS model with some semi-trusted nodes would assuage CEOs that a rogue mining outfit or state-sponsored hashpower attack couldn’t disrupt the network.

source
http://kemfe.com/course/qtum-qtum-beginners/lessons/technology-behind-qtum-blockchain/