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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: May 01, 2021, 03:09:41 PM
great to see Qtum is still alive. long time.
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: May 22, 2020, 02:04:04 PM
One of the few ICO projects developed well.
You can see that I am a really well-made team. They deserve to be in the top 3.
Thanks for your hard work.

most of ICO dead after they raise money.
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: May 03, 2020, 05:45:33 AM
still see a lot of updates from Qtum..
4  Alternate cryptocurrencies / Announcements (Altcoins) / Re: PreANN BitcoinSC | BSC Hardfork |Smart Contracts for the Bitcoin Protocol | POW on: March 21, 2020, 03:37:08 PM
when the hardfork release? which block height?
5  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN] 6Block Mining Pool - Pre-registrations open - Ready for Handshake launch! on: January 30, 2020, 05:21:51 PM
when handshake release?
6  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ANN|Kepler Network|First Confidential Asset Platform Based on MW | Cuckatoo31 on: December 08, 2019, 01:23:16 PM

We are about to launch a series of community and dev bounties. These are part of a longer set of incentives to help grow our community and user base.

We already have some ideas in mind, we will announce the amounts and details soon, but, for now, please do let us know of any proposals!!

thanks for the updates!  looking forward the exchanges..
7  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: November 27, 2019, 11:54:38 AM
it is dead , just accepted guys. qtum is doing nothing but clone bitcoin update.

another Newbie account?  Qtum is the first coin based on BTC UTXO's model but add smart contract...

i think you know nothing about the project..
8  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: November 27, 2019, 11:51:50 AM
did you know Qtum have a hard fork?

you need update your wallet to the new version?
how do you want to sync the network if you are using the old version wallet?

i think you are new to this industry.....

Yes, I knew about the hard fork and I had an up-to-date wallet. Qtum NEVER said we needed to update the Electrum wallet. I found out later that they updated it ON THE DAY. Instead of properly informing others ahead of the hard fork, they did nothing. Worse, they knew I had problems, and instead of helping me, blocked me from posting to their channel. So, up yours, Qtum!

I sold all my Qtum and moved into NEO, which has now skyrockted in price! Grin

so you are saying you are buying a coin with 7 full nodes?   i do not think you really understand blockchain ....
9  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ANN|Kepler Network|First Confidential Asset Platform Based on MW | Cuckatoo31 on: November 27, 2019, 11:49:51 AM
no updates for this project?
10  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: October 30, 2019, 01:01:50 PM

Qtum upgraded their system recently and over 1500 nodes have gone offline since. My Electrum Wallet would NOT sync, so I checked Qtum's forum. When this happened before, Qtum didn't reply to anyone who needed help - people were left in the lurch for over two weeks!

COMMENT: "Can we expect any answer from the team please?"

No one replied!

COMMENT: "Check the other posts. You have to wait for weeks to get an answer. Doesn't make sense for me. Sold my coins. No working wallet, no coins. Very simple for me.

I left comments on their Twitter account and now they've BLOCKED ME. Censored me like I'm living in China, but then Qtum is from Singapore, AN AUTHORITARIAN REGIME.

Qtum still have made no comment on why so many nodes have gone offline, and singularly failed to inform people of an update to their Electrum Wallet to fix the syncing problems.

The Qtum team just does NOT care about their community - they don't communicate with anyone!

They've taken millions of dollars off others, and now they're putting their feet up quaffing champagne instead of earning that wealth.

I'd heard rumours about Patrick Dai stealing bitcoins - something now to take VERY seriously!

Because they treat their investors with UTTER CONTEMPT.

Such behaviour does NOT bode well for the future of this project. When there are problems, and people raise those problems with Qtum, they put up a huge wall of silence, mirroring how China deals with voices it doesn't want heard.

They couldn't even spell "LightNing Network" properly, spelling it "Lighting" - I had to email them to correct that. But, again, no reply to say thanks.

Jordan Earls replied to one unrelated comment on Twitter, so maybe he's behind my ban.

SHIT AMATEURISH TEAM. Lost all faith in Qtum.

did you know Qtum have a hard fork?

you need update your wallet to the new version?
how do you want to sync the network if you are using the old version wallet?

i think you are new to this industry.....
11  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: October 22, 2019, 10:08:37 AM

About Qtum Electrum
QRC20-Token support
multisignature support
segwit support
hardware wallet support
What's new
logs can now also optionally be written to disk.
fix mobile and qt core support
QIP9 difficulty adjustment algorithm change

Trezor uses bitcoin mode for now, it shows bitcoin type address when signing transactions.
12  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: October 10, 2019, 01:57:37 PM

The Road to Qtum 2.0 — The First Fork
Qtum has been focused on developing the underlying infrastructure of our blockchain, while we continue to stay updated with the latest technical iterations based on Bitcoin and the Ethereum Virtual Machine (EVM). Since September 2017, the Qtum Mainnet has been running stably. In the process, a subtle imperfection in our Proof-of-Stake consensus algorithm has been discovered and repaired along with some smart contract opcode additions that have been proposed and added to improve smart contract functionality.
To adapt to the ever-changing application scenarios of blockchain technology, Qtum will gradually upgrade the underlying protocol and launch Qtum 2.0. The hard fork described in this article will be the first upgrade related to Qtum 2.0.
About QIP (Qtum Improvement Proposals)
Qtum Improvement Proposals (QIP) are a series of specific recommendations from Qtum developers and community members on the underlying Qtum technology upgrade. All proposals are posted on GitHub (, and everyone can discuss the proposal publicly. Widely accepted proposals will be implemented by the Qtum development team.
Purpose and Motivation
This will be the first hard fork since the launch of Qtum Mainnet. It includes four consensus-related QIP upgrades:
QIP-5: Add signature verification to the output script of the contract transaction;
QIP-6: Add btc_ecrecover precompiled contract to the Qtum EVM;
QIP-7: Upgrade the Qtum EVM to the latest Ethereum EVM Constantinople;
QIP-9: Modify the difficulty adjustment algorithm to make the block time more stable.
Among them, QIP-5 and QIP-7 add several new features to Qtum to adapt to the complex application scenarios of smart contracts, and are also the technical basis for subsequent upgrades (such as private assets); QIP-6 eases the development of smart contracts while reducing the cost of usage; and QIP-9 further improves the stability of the Qtum network.
Why Do We Need a “Hard Fork” Update?
Qtum is a decentralized network, where each node runs a separate node/wallet program. Only individual users can control the version of the program running on their node, while all nodes can reach an agreement on all transactions and blocks on the Qtum network through uniform consensus rules. If some nodes adopt different consensus rules from other nodes, they will fork into two chains.
Common updates do not modify any consensus rules. Even if some nodes do not complete the upgrade, the network will not fork because the software update is backward compatible with older versions. However, since the changes involved in this update modify the consensus rules, updated nodes and the non-upgraded nodes will not be compatible, leading to a hard fork.
Please note that this hard fork is accepted and desired by the community so most nodes will be updated to support the hard fork. Any nodes or wallets that miss the update will be automatically disconnected from the network and stuck on a dying split chain unable to complete transactions and potentially staking their coins to the split chain, which are very difficult to recover. To save problems it is strongly recommended to update for the hard fork.
Hard Fork Related QIP Overview
Signature verification is added to the output script of the contract transaction to prove ownership and invoke the contract without having any QTUM in the address.
Calling any smart contract in Qtum requires a gas fee for smart contract execution. For every contract invocation, a balance is required in the address that calls the contract (even if the balance is very small). For example, the transfer of QRC20 tokens is the most common contract invocation. Suppose there are 1000 QC tokens (a QRC20 stable coin launched on Qtum) tied to address A. To send these 1000 QC, a certain amount of QTUM is required in address A to pay gas for the token transfer (typically 0.04 to 0.10 QTUM). If address A does not have any QTUM balance, it cannot pay the gas fee, and the 1000 QC cannot be sent to a new address.
The only solution currently is to transfer some QTUM to address A and then send the QC tokens. However, this not only wastes valuable UTXO dataset resources on the chain but also greatly affects the user experience. At the same time, for more complex application scenarios of smart contracts (such as forecasting market applications, decentralized exchanges, etc.), this limitation significantly increases the threshold for users to use blockchain applications.
By adding the OP_SENDER opcode, QIP-5 provides a mechanism to prove the ownership of the contract invocation address, which can offer proof without any QTUM in the address and then invoke the smart contract. Although little change has been made to the original system, it has brought about major changes to the existing smart contract ecosystem:
Addresses can invoke smart contracts (such as sending and receiving QRC20 tokens) without any QTUM, improving the token transfer experience for ordinary users. Note: This does not mean that the contract can be invoked free of charge, but can be paid by other addresses;
More diversified services will emerge. Service providers will pay the fee, while users only need to use the service, which is closer to the actual application scenario;
It allows multiple addresses to invoke multiple contracts in a transaction, increasing the flexibility of contract invocation;
Save the UTXO dataset resources on the chain.
Possible Risks
QIP-5 adds additional consensus rules but remains compatible with the original rules, so there is no security risk in theory. But it will have some impact on the existing infrastructure:
Additional RPC commands need to be developed to properly use this function, and service providers need to synchronize infrastructure upgrades;
Due to the additional scripts, service providers will need to perform extra validation on scripts, otherwise, they will not be able to identify such transactions.
For the specific implementation of QIP-5, please refer to this document.
Add a btc_ecrecover precompiled contract to Qtum EVM for direct invocation of common contracts.
In Solidity, theecrecover function can restore an elliptic curve signature to the corresponding public key address. The msg.sender in Qtum’s smart contract uses a P2PKH address similar to Bitcoin, while the address format returned by the ecrecover function is the same as that of Ethereum, so the two cannot be directly compared. For developers, this will make some logical decisions in the contract cumbersome. At present, the common way to solve this problem is to invoke additional library contracts, but that will consume more gas, increasing the cost of using smart contracts.
QIP-6 implements a function called btc_recover by precompiling contracts. The new function, while compatible with all interfaces of the original function, can bring the following benefits:
The address type returned by btc_recover is identical with the address format of msg.sender, which allows direct comparison and simplifies the logical decision in the contract development process.
Precompiled contracts can greatly save gas consumption and reduce the cost of using smart contracts.
Possible Risks
QIP-6 does not make any changes to the original system, and the new function is fully compatible with the original function interface, so there is no risk in theory.
For the specific implementation of QIP-6, please refer to this document.
Upgrade the Qtum EVM to the latest Ethereum’s Constantinople.
Currently, Qtum uses an earlier version of the EVM. After the launch of Qtum MainNet, the EVM has been upgraded to the Byzantine and Constantinople. Many new developer-friendly features have been added to the new version of the virtual machine, such as returning variable-length data and invoking static contracts. More and more developers need to rely on these new features for contract and application development.
QIP-7 includes all the new features of EVM Byzantine and Constantinople versions, enabling more complex smart contracts and applications. For example, Qtum plans to support private assets in QIP-19, where the related smart contracts rely on the new features provided in the new EVM. Also, after the upgrade, all the smart contracts and applications on Ethereum can theoretically be transplanted to Qtum while obtaining the unique security and stability of the underlying UTXO model.
Possible Risks
Both the EVM Byzantine and Constantinople have been activated on the Ethereum Mainnet, of which the stability has been verified, and they are fully forward compatible with low risk. However, the Qtum bottom layer adopts the UTXO model, which is inconsistent with EVM’s account model. Developers need to pay attention to the characteristics of Qtum EVM when transplanting existing contracts.
For the specific implementation of QIP-7, please refer to this document.
QIP-9 actually two updates:
Modify the difficulty adjustment algorithm for Qtum Proof-of-Stake to make the block time more stable and lower the average block timing to 128 seconds as given in the original design.
Modify the Network Weight estimation algorithm to make it closer to the real value (not related to consensus).
Qtum was designed for a block interval of 128 seconds. In Qtum’s decentralized Proof-of-Stake process, the timing of actual blocks should show random variation around 128 seconds, and the difficulty adjustment algorithm will adjust the difficulty up or down to maintain this average. Unfortunately, a subtle bug in the difficulty adjustment algorithm has caused two problems, 1) some excessive long intervals for blocks, and 2) an average block interval of 144 seconds. This higher average interval means the blockchain is running a little slower than design, and that transactions per second are 12.5% low and staking block rewards are 12.5% low.
Network Weight is an estimate of the total coins staking on the Qtum network and is used to calculate the expected returns for staking (expected time to a block reward). Since Qtum is a completely decentralized network, the weight of the entire network can only be estimated by the difficulty of staking. However, the existing Network Weight calculation fluctuates greatly and does not accurately reflect the current status of the network.
QIP-9 provides an improved difficulty adjustment algorithm adjusting for difficulty based on an exponential moving average of block intervals. This improved algorithm has the benefits of eliminating the very long block intervals and providing an average block interval of 128 seconds. This faster average block interval means network transactions per second and block rewards for staking wallets will increase by 12.5%.
QIP-9 improves the Network Weight estimate by changing the calculation to use a fixed divisor for the 128-second interval. Compared with the original Network Weight approach, the variance between the new Network Weight and the real weight is smaller, and the fluctuation is smaller, which means a more accurate estimate of the current network status.
Possible Risks
The difficulty adjustment algorithm involved in QIP-9 has no security risks.
Although the Network Weight estimate calculation gives relatively smooth values, it cannot reflect the change of Network Weight if the actual weight fluctuates sharply, so there is still room for improvement. However, the Network Weight update does not involve the consensus mechanism, so it can be modified again in subsequent common updates.
For the specific implementation of QIP-9, please refer to this document.
The Hard Fork Release Plan
The code for this hard fork has been fully developed and tested for nearly half a year and has been running successfully on private testnets. It has already been activated on Qtum Testnet at block height #446,320. After a period of stable operation on Testnet, it will be officially activated on Qtum Mainnet.
The update automatically activated at the pre-set block height, on Testnet at block 446,320 on September 20, 2019, and it will on Mainnet at block 466,600 on October 17, 2019. It is recommended that users keep the running wallet as the latest official release version so that the wallets will update smoothly.
The update only applies to the Qtum Core wallet and full nodes using the Qtum Core wallet. There is no change required for users of other QTUM wallets, such as Electrum, Ledger or the Qtum Web wallet.
Impact of Not Updating
When the block height is reached to activate the hard fork, the updated wallets will disconnect any peers that have not been updated. This means the older version nodes and wallets that have not updated will not be able to conduct transactions or stake onto the main chain. Instead, their transactions and staking will take place on a forked split chain that will gradually die out as those nodes are updated. Nodes on the split chain will see a very low Network Weight, and staking wallets may see a large number of block rewards as they stake onto the split chain. Since these staking transactions are committed to the split chain, at that point even after updating the wallet and resyncing the blockchain, the stakes will be missing, which means more advanced wallet recovery techniques will be needed.
Qtum will notify all exchanges, service providers (wallets, explorers), stakers, and ordinary users to complete the update in advance of hard fork activation to ensure a smooth update.
The Qtum development team has carried out successful internal testing for half a year before the release. The update will be activated on Testnet a month before Mainnet, to further validate operations and verify the expected changes.
All users should keep their Qtum Core wallets/nodes updated to the latest version and be aware of the symptoms for problems described above (low network weight, excessive staking) if their wallets are not updated in advance.
Will There be a Hard Forks in the Future?
As long as the update is related to consensus, it may require a hard fork. At that time, users will be notified of the update through a similar process. The subsequent x86 virtual machine, private assets, and smart contract staking features that Qtum plans to release may require hard forks. Qtum development team will merge updates that require forks to minimize hard fork updates.
What Do Users Need To Do?
For continued operations and to avoid staking onto the split chain, all users running Qtum Core nodes/wallets need to update to the latest version of the wallet before the hard fork activation block height. Please keep an eye on or for the wallet release information and update to the latest version as soon as possible.
For different participants in the network, it is recommended to be fully prepared for the upgrade:
Exchanges & Wallets
Before and after the hard fork activation, please pay attention to deposit and withdrawal records of QTUM and QRC20 tokens, and confirm the transfer after the transaction has collected enough confirmations on Mainnet;
For the withdrawal of QRC20 tokens, it is possible to upgrade the supporting program (QIP-5 related) in advance so that the new features can be used to pay gas fees.
Service Providers (such as Explorers)
It is recommended to develop QIP-5 related support in advance to avoid being unable to identify the transaction output with OP_SENDER after the hard fork activation.
Stakers (mining pools, personal stakers)
Before and after the update is activated, please pay close attention to the Network Weight and block rewards. Block rewards will increase as the average block interval drops to 128 seconds (600 blocks per day vs. 675 blocks per day currently).
Contracts and applications with new features can be developed on Testnet first and then deployed on Mainnet when the main network is activated. (QIP-7).
Consider more scenarios based on QIP-5.
Every User
Always backup your wallets!
13  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: September 30, 2019, 08:39:00 PM
I like to say that QTUM turned out to be not a scam. Why? After suffering a very long price decline along with other coins and tokens, the QTUM dev team is still here updating the wallet and the network protocols. I guess Patrick Dai is exonerated from the Bitbay fiasco.

The project is already listed Binance, Kraken and Huobide. We can say that the project is in good condition for the general progress. But the stake rewards are a little low for me. There are hundreds of projects on the market that offer much better stake rewards.

Multiple exchange listing does not guarantee a coin is not a fraud. The best indicator for this authenticity is the hard work of the coin's developers. In QTUM case, I am much impressed by their continuing pursuit of refining QTUM's protocols.

check all the updates
14  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: September 28, 2019, 07:33:00 AM

this is a nice post
15  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ANN|Kepler Network|First Confidential Asset Platform Based on MW | Cuckatoo31 on: September 28, 2019, 07:31:59 AM
will any exchange list this coin?
16  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: September 18, 2019, 02:34:04 AM

<Patrick's Keynote Speech at Wanxiang Conference>:

Distinguished guests, good morning! I am glad to stand on the stage of the Wanxiang Conference again and share with you the progress of the Qtum.

Why say standing here again? Because in fact, in 2016, Qtum participated in the Hackathon organized by Wanxiang, and presented in Demoday and won the “Best Creativity Award”. This is the seed for Qtum's later growth. Starting from 2016, Qtum has been supported by many and together achieved what we have.

As one of the projects with a majority of members from China, in this wave of blockchain technology, we have learned some deep lessons. I am excited to have the opportunity to recap and share our thoughts on the real-world use cases of blockchain, how to promote the adoption of blockchain as a startup, and as a tech team, and how will our tech facilitate the adoption step by step.

First, a recap of the industry.

I am very grateful that Wanxiang has taken the lead in launching the blockchain global summit in China in 2015. IBM launched Hyperledger in 2015, and Ethereum has just been launched. In 2015, I also participated in the Wanxiang Summit, when the theme was “Blockchain and Internet of Things”. Again here today the general manager of China Unicom's Internet of Things has mentioned the blockchain and the Internet of Things.

The evolution of technology often sees temporary setbacks. In 2012, I once imagined that one day Microsoft, IBM, Google, and Ali would join the blockchain battlefield, waited for three years and IBM entered, and to 2018 giants like Facebook and Google swamped in.  As a developer, in 2013 when I was still at school, I had the hunch that one-day big companies would come in.

2009 to 2019 is the first ten years for the takeoff of blockchain. The cryptocurrencies sparked massive discussions and experiments for real-world use cases of blockchain technology. The initial spark was the protocol that allowed peer to peer value transfer on the internet, spearhead by Bitcoin. Although we rarely discuss the basic protocols used by the Internet for data transfer, Bitcoin represents a new way of protocol exchange, such that spurred the later development in the industry.

There are many features that are trust-free. We are shifting from information asymmetry to information-symmetric business models, which poses a huge challenge to existing business models. Why so? Today's giant Internet companies, they essentially extract information and then provide value-added information on top of that. Whether it's Alibaba which provides matching based on information of buyers and sellers, or Tencent which connects people based on their information, they are all but “information traders” relying on technologies, platforms and their network effects. Of course, the connection of information has brought great convenience to the society, and such service providers have gained great profit along with it.

When the business information network is symmetric and peer-to-peer, how to build a new business model that suits it? We are still trying to find out.

Second, about cryptocurrencies.

Bitcoin is the most typical representative of cryptocurrencies. Whether we are discussing the blockchain or just cryptocurrencies, Bitcoin as a technological innovation and conceptual innovation is still inspiring how we can better construct a new open-source software system, service system. And the design concept behind it is a software system with automatic evolution based on game theory. Before Bitcoin, it was difficult to find software that has thrived after the founder disappeared for 10 years. And so far it has not seen the end, and the border and network effects are still expanding. The incentive design and game theory behind it provides a good reference for us to design more systems.

As an alternative asset, Bitcoin has raised the attention in many countries, for example, some have close regulation on it. This must be a long-term path, rather than a short-term establishment, and it will inevitably face a long-term collision.

There are

many fascinating aspects in the development of the Bitcoin network. It's the design concept that has inspired the following ten years. It is precisely because of the peer-to-peer open network and the information-symmetric network, and in essence, the capitals are also managed very efficiently. I am not sure if you have noticed that a few days ago a sum of one billion dollars worth of Bitcoin transfer occurred on the Bitcoin network. The transaction fees was only a few hundred dollars and completed the transfer within 10 minutes. Such an open financial system can have disadvantages and benefits. It is technically guaranteed that everyone can trust that the network can carry a single transfer worth up to $1 billion. What a strong manifestation of the trust behind it! It's also the trust of the security of this network. Behind it, it is backed by highly efficient ways of managing capital. Multi-signature technology can guarantee that even $1 billion of Bitcoin can be safely kept. $1 billion of gold can hardly be safely kept by some regular individual. The $1 billion in USD is hard to be kept safe for many individuals and companies.

The stability of network security has always been the cornerstone of the industry and enabled its development. Based on the Bitcoin logic, various platform development ideas have emerged. Why distinguish between cryptocurrency and blockchain platforms? This is a very deep misunderstanding in the industry.

Third, from cryptocurrencies to trustless platfomrs

The demand for cryptocurrency is very different. For community-based cryptocurrency, it needs to be simple, secure, stable, and reliable. Of course, it must be decentralized enough. The most original idea in some sense is how to allow any one to join the network. However, the initial definition of the Ethereum did not originate from the concept of cryptocurrency, but rather how to build a blockchain platform that supports a large number of applications in the future. This has brought Ethereum a huge growth in the past few years, and today it has become a huge constraint.

Why? Think about the logic behind it. As a platform, it needs unlimited scalability, good privacy protection, resource isolation, a very good governance framework, and of course, a very good financing/funding model besides ICO . As a platform, this is a huge challenge.

Fourth, rethink the decentralized application.

As a platform, Ethereum has made tremendous innovations, but we must also reflect on the difficulties that the industry is facing, not only in technology, but also in mindsets and business models.

Why do we need to rethink distributed applications? Redesign distributed applications? I believe that everyone has the same feelings, whether it is startups or investors in the industry, we all find that many distributed applications do not have suitable use cases, and do not create great value for the society, but rather a tool for hype.

We need to jump out of the old framework of thinking, to re-imagine and work on how to find truly valuable distributed applications.

Why do today's Ethereum, EOS, and Qtum have such huge problems when it comes to application? Because they are all originated from the logic of the earliest cryptocurrency. The cryptocurrency requires verification on the global chain, and any transaction on the Bitcoin network will be broadcasted to 8,000 nodes across the network, which is okay for a cryptocurrency because High-value things require a consensus across the network. However, if a small application needs to be broadcasted to 1000 or more than 8000 nodes on the network, this is a huge logic problem, which will impose huge constraints on the application platform.

Therefore, at the time, Ethereum expanded the Bitcoin scripting language and turned the limited processing power into a more flexible virtual machine processing capability. However, the idea of global verification of Bitcoin is still in use, which imposes huge constraints on development.

Ethereum is a world computer, but it is a single-threaded world computer, because all the lo

gic is executed by 8000 nodes together. Such parallelization will never happen on Ali Cloud. Ali Cloud has hundreds of thousands of servers around the world, and each server runs different tasks. But on the Ethereum, all the running logics are synchronized at any time. Its strong consistency constrains the development of all applications.

Therefore, it is necessary for us to jump out of the framework. Only this way can we expect more development from blockchain applications, because the infrastructure needs huge upgrades and iterations.

Of course, Ethereum is also aware of such problems. That's why it is doing sharding or off-chain computing. But if there is no fundamental change in its logic, it is difficult to make a major breakthrough.

Fifth, blockchain applications and platforms.

Why is DAPP a pseudo-concept? Perhaps DAPP should not be called DAPP, but should be called an application with blockchain features. What are the characteristics of the blockchain? Account, identity, address, and funds, all four in one. Unlike today's internet applications, you must first register with your mobile phone number, then provide your ID card, and then provide your bank card information. In fact, it is repetitive registrations, and our information is stored on each platform. However, the address on the blockchain network represents your account, your funds, your ID and your address, all in one.

A good token economy design would bring great value to the bootstrap of the project. The early development of Ethereum benefited from a good economic model. With more mature and clearer regulations, as a natural base layer micro-service clearing and settlement infrastructure, the blockchain will naturally provide the clearing and settlement tools. Although most of today's applications still use Alipay, UnionPay, WeChat to for clearing and settlement, but any public chain or consortium chain will naturally replace the clearing and settlement functions of Alipay and UnionPay. Still, whether we have the right regulatory guidance is something the regulators need to figure out. But technically the technology is ready.

In a sense, this is the “fundamental uses” of the blockchain, which can empower all existing Internet applications. In the future, new forms of applications will evolve out of it.

Sixth, the progress of today's Qtum.

Qtum integrated smart contracts to a bitcoin-based network in 2016, so Qtum is the only platform and project that follows up on major innovations in Bitcoin. In addition, there is a good synergy between Qtum and Bitcoin. One of our core developers has found major bugs in Bitcoin in 2018 which could allow attackers to print more Bitcoin, and we report it to Bitcoin core developers immediately. This is the merit of open-source software. We all have huge synergies, whether it is technology iteration or technology evolution.

There are a lot of thoughts and innovations in the Qtum 2.0 release, the main idea is how to better serve the developers of future blockchain applications. On Etheruem, in order to make a transaction, you need to possess a certain amount of Ether. Qtum allows the signing of the contract, which will allow contracts to be smarter, e.g. participation in on-chain governance. Just as Mr. Yao mentioned, each blockchain contract is a proxy for a virtual business. They are all logical and executable agents simulated by the computer network. The agent will execute based on data and logic. In this sense, a smart contract also represents virtual productivity. And if it is used well, it will bring great help to the commercial automation of the society.

Qtum 2.0 revolves around how to better serve the blockchain application developers, and build better infrastructure that serves the economy.

We will publish detailed technical documentation later on. If there are developers in the field, interested in the blockchain field, welcome to communicate with us after the meeting. There will be a Qtum 2.0 release on October 16th, please stay tuned.

Seventh, what are we still doing?

What are we working on in 20

19? As a practitioner who has been in the industry for more than 6 years, what are we thinking about the industry? In fact, the blockchain network has a huge distributed effect. The number of nodes in Qtum is second only to Bitcoin and Ethereum. There are nearly 6,000 Qtum nodes in the world. The geographical distribution is the same as that of many technologies. The most nodes are in the United States, which might be because a lof is using AWS or Google Cloud. And there are many nodes in China, Korea, and Japan as well.

I mentioned that Ethereum wants to do the sharding, but the result of unlimited sharding will be a stand-alone cloud service. When Ethereum 8000 nodes are sharded two times, it will be divided into 4,000 nodes, sharded 10 times then becomes1024 shards which is equivalent to 8 nodes. The result of infinite sharding will inevitably make it more like a traditional cloud service provider. When synchronicity weakens, the strong synchronicity of the network will become weak synchronicity, which will make it more application friendly. If the network always has strong synchronicity, it is difficult to integration with commercial uses.

 An account system with inherent blockchain characteristics, public and private key encryption system, a token economy model, if there are cloud service vendors naturally support such blockchain characteristics, I think it will be huge promotion of the application. Therefore, we proposed the concept of “blockchain cloud ”. As a tool-kit embedded to all cloud services, the blockchain will bring great benefits to the so-called Dapp developers and distributed application developers, it will also help Web3.0 application development. It requires in-depth integration of blockchain and cloud services

Confidential computing, private asset, privacy data extraction, data mining value will also see a huge development. Whether it is with the popularity of the Internet of Things devices or 5G, the society will produce vast amounts of data. More attention will rise to how to extract the value of data and use it. The society will pay more attention to privacy. Leaving why Facebook proposes Libra aside, no one is willing to assume the responsibility of storing the data of the world. Because it is a huge responsibility and implies a huge legal risk.

How to integrate data privacy, data mining and privacy in the future? The blockchain has also done a lot of exploration in this area, especially the issuance of private assets. For example, the bank's bonds are unlikely to reveal all their positions, but everything is verifiable. We are optimistic about privacy assets, including privacy-centric data mining and data extraction.

Let the smart contract participate in the on-chain governance. The mechanism for the proof of equity is originally to vote for an agent, but the agent has the risk of a single node. Why can't we vote for a smart contract? The logic of the contract is written in advance and the rights are guaranteed. Therefore, it is based on the contract's equity certificate. Future contracts will play a more important role in the blockchain network. Including the preset of the contract parameters proposed by Director Yao, from the technical point of view, the evolution of the blockchain network can be observed and set, which is a path that commercialization must undergo.

The technical stack of the blockchain network is still not perfect. We are also inventing a new type of virtual machine that can be compatible with the X86 instruction level and will be officially released next year.

The future of blockchain industry is still embracing the real economy and embracing what really creates social value. Pure speculation is a tool for financial speculation. It is feasible in some sense before regulation is in place. Because it is an early stage of unregulated growth. The development of blockchain technology in the future still needs to create value for all real economies. In a sense, it provides efficiency and transparency for society. This is the only way for the large-scale commercialization

of the blockchain in the future.

As an infrastructure, Qtum2.0 hopes to have the opportunity to promote the development and progress of the technology field.

Thank you all!
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BitGrin (XBG) – MimbleWimble with Bitcoin economics – Windows wallet! on: September 02, 2019, 03:59:53 AM
how is this project going now?
any exchange to trade?
18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ANN|Kepler Network|First Mimble Wimble Confidential Asset Platform|Cuckatoo31 on: September 02, 2019, 03:41:12 AM
who is still mining this coin?
19  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake on: August 19, 2019, 02:50:39 AM

Votes still ongoing, exchange opens up this month.

Tezos Qtum Bti =)) weeee

Qtum is good for staking, no barrier for stake.
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpaceChain - A Decentralized Space Agency on: August 12, 2019, 07:52:23 AM
how is the Project going?

still alive?
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