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Did you do your research on whether you violate any security laws by doing the ICO?
Yes, we just received a positive response from our local securities commission (BCSC). Crowdfunding by pledging Bitcoins for a reward of Qoins does not violate any security laws because virtual currencies including Bitcoin are not regulated, so we are going to proceed with our Crowdfunding Campaign. Refer to our Qoin Distribution section for crowdfunding details. |
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Do you develope all of the software form scratch? If not what project did you make use of?
There is some code taken from Bitcoin, code from Python as an interpreter is embedded, and code from existing implementations of our post-quantum cryptography which we'll reveal later. Did you develope everything by yourself or do you have a team?
It's just myself right now. Will you publish information about your identity and the identities of your team before the ICO (a must for me if you want any money)?
Take a look at our SSL certificate, it's from StartSSL.com which requires proof of personal identity. Also our company is federally incorporated in Canada which also requires proof of personal identity. |
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*bump* still in development =)
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As a pun, it's rather twee and I predict that you will regret deeply the expense of the indulgence.
For marketable high-level concepts I believe it's more important to focus on branding to differentiate our ideas from those of our competitors. The puns are of course part of the branding -- Qoinapps (Blockchain Applications), Qointracts (Smart Contracts), Transaqoins (Smart Transactions?), Entangled Chains (Multi-Chains). These are things users and developers will be using on a daily basis, so a developer can search for say "qointracts" instead of "smart contracts" and find a relevant answer pertaining to Qointum. We have more sensible names for technical concepts -- Maximally Vetted Delegate Chain, etc. |
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Qointracts
Yeah it was too tempting of a pun. |
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For some reason I highly doubt you can guarantee that a quantum pc would not be able to crack this. I hope you will prove me wrong though.
Quantum computers are well understood, their capabilities have been studied for the past 20 years and yet no one has figured out a method to attack Merkle signatures or McEliece encryption which have been known for even longer, and now we even have mathematical evidence of quantum resistance (mentioned in my post above). Over the last 10 years cryptographers have worked to reduce key sizes and improve efficiency to the point that these quantum-secure crypto schemes are now ready for practical use. |
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why did you choose Python for the contracts
The reason why we chose Python is right on the front page, and also there is a section dedicated to it in the design document. Transaqoins and qointracts are simply turing machines, there are many pre-existing languages that are adaptable to our needs and are already adept at interfacing humans with turing machines.
We must restrict our language choices to those that provide a ready-made embeddable virtual machine to ensure determinism. All nodes must be able execute the same sequence of transactions and result in the same state. The virtual machine must be able to hide device-specific state from programmers. Python, with a bit of tinkering, can meet these requirements.
Qointum is leveraging Python’s significant network effect – according to the TIOBE Index Python is in the top 5 virtual-machine languages and there are an estimated millions of Python developers world-wide. Qointum is also leveraging millions of man-hours of labour on the core Python language and third-party libraries, allowing us to focus on just developing a cryptocurrency, not a language.
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I ask by your claims of 128 bit quantum security, curious as to how this is implemented.
There is some mathematical evidence that the encryption system we're using is in fact quantum-resistant, so we only need enough bits in the key to thwart a quantum search (Grover's algorithm). Also, we use merkle hash trees for signatures, and although there is no proof yet, there are no known quantum algorithms that can attack hashes other than a quantum search. To brute force a 256-bit hash would usually take 2 256 operations, but Grover's algorithm only takes O(√N) time, so that's 2 256/2 = 2 128 quantum operations = 128-bit level quantum security. |
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Looks like some noble effort here guys, keep up the good work.
Thanks, yeah we're really trying to innovate on every front here to create a true crypto 2.0, not only fully programmable, but also cryptographically future-proofed and scalable to the whole web. |
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if you have something to release (that actually exists) release it, on github , send it out into the world
Thanks for the feedback! Your skepticism is warranted. |
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I suggest you follow Bittrex' lead and use the term “crowdfunding campaign”...
Thanks Graham, this is good feedback. Posting this offer from a pseudonymous a/c merely raises the obvious question...
I'm the founder of Qointum. The email address associated with this account is the same as in our trademark info -- you can see it in my profile now. I use this pseudonym instead of my real name because it's short, memorable and most importantly unique so it's internet-searchable. We're still a long ways from launch so I'll re-create this thread under the username "Qointum" at a later date. |
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Yes, and the dev also gets to keep 19.9% of the coins
I should mention the largest and most successful crypto launch to date reserved a similar amount for their developers, 17%. |
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signed up  glad to have you aboard  |
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nice looking wallpapers btw  Yeah the 2160p versions on the site took quite a while to render. Enjoy  |
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Good luck.
Thanks |
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is it going to be an ICO?
Ok i signed up.. Wheres the money?  It's there in the wallpaper, don't you see it? I forgot to mention the ICO, I'll put that in. |
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