Qtum Build decentralized applications you can trust
So for those who are not aware of the term bitcoin, let me introduce you to it. Bitcoin is a digital currency used for a myriad of online transactions. What sets it apart from your usual currency though is the fact that there is an encryption mechanism behind its generation and transfer from one platform to another. Now a Blockchain is a digital ledger where financial transactions involving the bitcoin are recorded and made available to the public. Now Qtum is an organization which is in the process of developing an open source stack of Blockchain whose implication will be to promote this method of business as the mainstream type when it comes to huge sum financial interactions.
Qtum is devoted to achieving this feat and has bypassed quite a few technological hurdles in its quest to make their ambitions a reality. Qtum is different to its other dApp counterparts in that it employs a special reference to bitcoin's well established UTXO transaction model and gains competitive advantage over them also by again employing a fool proof on stake. This design provides a few advantages.
Firstly, it enables the execution of contracts from any electronic device connected to the Internet of things. The Qtum system is also able to co-exist with the Ethereum contracts and the bitcoin ecosystem with the added advantage of providing number of other capabilities that are missing from both the two. In this regard Qtum is setting the pace for overcoming hurdles existing between blockchains and businesses. It is doing so while still putting into consideration changes in business policies not forgetting conditions thereby it is safe to say that this dynamic system is safe to use even in the event of an economic depression. The design behind Qtum isn't short of technological prowess either.
As I had mentioned earlier, the Qtum Blockchain project has a UTXO and also the ethereal contracts. It has been programmed that the UTXO interacts with the Ethereal Virtual machine and that's how one is able to complete financial contracts through any electronic device connected to the internet of things. The Qtum system has been engineered to make the transactions easier. And they have rightly done so by giving the UTXO a feature that enables the support of lite wallets. With this made possible, it is not compulsory now for the people to download and/or sync to the entire Blockchain. This feature creates some contrast to the Ethereal Blockchain. In the Ethereal Blockchain it is a a must for the user to first download the Entire Ethereal Blockchain then sync to it. This is tedious considering the fact that as at now, the entire Ethereal Blockchain is around 50 GB. Lite wallets on the UTXO based Blockchain will now enable one to complete these contracts easily even by the use of mobile phones. The dawn of the technological age has proved to be quite helpful. Innovation advancing before other innovations have laid way for easier use of electronic devices.
The Qtum team
Patrick is graduated from Draper University and dropped out of his doctoral degree from the Chinese Academy of Sciences. Previously employed by Alibaba, and committed to the blockchain technology development, with abundant blockchain industry development experience.
Neil has 20 years experience developing software and has four years experience in the blockchain space. Neil has Master’s degree in Business Administration from ISCAE, but later specialized in computer science. Neil was also a professional poker player and speaks four languages.
Jordan is a trusted and well-known member of the cryptocurrency community and has been developing software since he was thirteen. Jordan has reviewed over 100 altcoins and identified multiple exploits in coins.
YUNQI "CASPAL" OUYANG
Caspal is an experienced web developer and has worked at Baidu. Caspal has more 21 gold medals for Rubik’s cubing 1 record in Asia and 29 records in China. Caspal was ranked #1 for solving a 4×4 & 5×5 blindfolded and ranked #1 for solving a 3×3 Rubik’s cube with his feet in China.
Brett worked as a Linux System’s administrator from 1999 – 2004 and then worked at a Linux desktop support company from 2005-2014. His blockchain experience started in mid-2013, and met most of the Qtum’s founding members in 2014.
John has been following bitcoin since 2012 and a community member since 2013. John has been a miner, journalist, and has worked for several startups including CoinPip and the DC-based blockchain advocacy group, the Chamber of Digital Commerce.
Most of you should know developer Jordan Earls from bitcointalk.org. He was always kind enough to inspect new coins for code exploits or malware. To date he has been reviewing over 180 altcoin sources which is quite an achievement. The other team members offer experience and skills in many fields; development, marketing etc. which makes a proper execution of the Whitepaper realistic.
Qtum backersQtum is backed by a group of businessman from both in as outside the blockhain hemisphere. Among the backers we find “Bitcoin Jesus” Roger Ver, OKcoin founder XU Star, Jeremy Gardner (whom who cofounded AUGUR (the forecasting altcoin). Anthony Di Ioio, CEO from the famous JAXX Wallet is also backing Qtum.
ResourcesRead the Whitepaper
Learn more at Qtum.org