Qtum - great idea or useless?
Qtum – what is it?
A business orientated and decentralized infrastructure to unite best about btc blockchain and ethereum plattform
Since when? March 2017 first ICO
Who?
I like that team, as they seem to have a lot software and blockchain development experience. CEO Patrick Dai as ex-employee of Alibaba. Backers as well Xu Star, CEO of 0x project and Anthony di Iorio as Founder of Ethereum and CEO at JAXX Wallet just to name the biggest ones.
why?
Problem: To use Ethereum smart contracts, the condition is to run full nodes, what means you have to download and sync the entire blockchain. With Qtum it should now be possible to use smart contracts from a light wallet, which can be easily run on any mobile device.
Since the blockchain shows us how beautiful decentralization can be, the Qtum teams wants that to happen with the intelligent technology of smart contracts of the EVM (ethereum virtual machine) by interacting with the Bitcoin Blockchain and use it on a mobile device!
How?
With the Qtum Account Abstraction Layer that is allowing BTC core blockchain to interact with the ethereum virtual machine. In this way they combine the UTXO (Unspent transaction output) with the powerful SVP (simple payment verification) of the btc blockchain.
The SVP makes it possible to support light wallets and opens so much more possibilities for all users to run a light wallet on a mobile device and can nevertheless interact with the ETH smart contract.
Awesome right? What do you think?
Write your comments below :)
Source: https://qtum.org/en
I'm really optimistic about the QTUM technology, but unfortuntely price has been a real letdown. Releasing their Mainnet just as the China FUD hit sucked the life out of them and price is struggling capped by resistance now.
I did however want to get your opinion on whether you think that it is a direct competitor to NEO? Or can they coexist?
Thanks for your reply! And also for your article. Very good information..
I like that current questioning about NEO vs QTUM. I summed it up in my article NEO vs QTUM.
Excellent! I've given it a resteem :)