Announcing the winners of the Distributed 2017 Hackathon in St. Louis:




Winner of the $10,000.00 prize awarded in Qtum tokens:

D-REX (Built on Qtum Testnet)

Portions of this project received funding from the World Bank

Lead Developer: Dev Bharel


D-REX (Distributed Real-time Energy Exchange)

https://devpost.com/software/d-rex


Abstract: Provide a marketplace for financiers and providers to issue and purchase electricity futures. By creating a market for microfinancing generation of electricity we can crowdfund infrastructure to provide electricity for the 1.5 billion people in the world currently without.

User Groups:

Consumers:

Consumers are the people interacting with the electric generators to receive electricity. They spend Solar Tokens using their mobile client (or SMS codes) at generators to pay for electricity in kilowatt hour chunks.
They can also create requests for solar generators in their region, detailing location, wattage usage, reason for electricty need, etc, which can be bid on by providers and funded by financiers.  


Providers:

Providers bid on requests from consumers. They provide bids detailing type of solar energy unit, cost of installation, time for installation, their insurance, etc.

(FUTURE) Need to be verified or have some reputation modeling or have some sort of insurance.


Insurers:

Planned for the future
Insure providers or financiers
Provide derivatives of energy futures. Sell part ownership of many utilities for n time.
Financiers:
Can be large institutions (Royal Bank of Scotland, Deutsche Bank, etc) or anyone with money. Can even be part or fully owned by the community itself.
Get the emotional payout of helping bring electricity to the underprivileged as well as the financial incentive into micro financing infrastructure.  


Specs:

Request:  {
   “Location”: STRING,
   “Creator”: STRING, //address of the owner who submitted the tx
   “WATTAGE_REQ”: INT,
   “REASON”: STRING
}

Bid: {
   “ProviderAddr”: STRING,
   “Unit_type”: STRING,
   “Cost_of_installation”: INT
}

Process:

Consumers make a request for a new generator. They list the location, wattage requirements, reason for request, etc.
Providers look through requests and bid on them. They include the type of generator, cost of installation, time for installation, insurance, etc. This bidding process is open for ONE WEEK. Consumers can then accept one of the bids, at which point...
Financiers bid on consumer accepted requests. This process is open for ONE MONTH. If the request is successfully funded a generator contract is created to represent the pending device.
The Financiers that own the the generator should all call the smart contract and submit their preferred cost for electricity the smart contract should charge. The price is the average of all submitted values weighted by the ownership stake each financier has. If no financier has submitted a price request, then the average is just 0 and the generator runs for free. If only some of the financiers have provided a price, it’s just the average of the ones provided. If you don’t vote, you don’t get a voice and must accept the price set by your co financiers.

The Provider that won the bid then installs the generator in the location specified.
The Consumer that issued the request than approves the installation by instantiating the generator by sending an initial token to it. The first tx MUST be by the Consumer that issued the request. After initialization, the generator can be funded by anyone and used by anyone.

Consumers can then fund the generator get electricity. They pay in solar tokens which are then disbursed to financiers proportionate to their ownership stake in the generator. Consumers can buy these solar tokens from exchanges.
Financiers make money by selling their solar tokens on exchanges to anyone who wants to buy. Solar tokens have a consumptive value on the platform, not just a speculative value, so there’s always a demand.



Tech:

Contracts:

Solar Tokens: ERC 20 token contract. ICO a limited supply of x million .
MarketPlace (split into two sections):
New Generators: Consumers make requests with the given metadata (location, wattage, reason for request, etc). Request is bid on and then awarded.
Old Generators: Financiers can sell all or part of their ownership of their generators or even market futures and based on the generators ownerships they own.

Generators:

Each generator is it’s own smart contract. Issues 10,000 (100.00%) ownership tokens at inception based on proportionate financing.
GetAvg(): read only function that returns the average price of what the generator should charge for electricity.
Status pending until first tx which needs to be done by Consumer who created the initial request.
(Future) Funds set aside for maintenance / some catch for it.  

Stack:

Flask Microservice to interact with Qtum RPC
React front end for UI




Interesting Points:

Very interesting use case for trusted execution environments. Only the solar generator should be able to make its transactions, someone shouldn’t be able to mess with it.
Smart Contracts built with generic “Utility Model”. Crowdfunding electricity now, but could crowdfund any utility (Water Mill, Textile Machines, etc…)
Providers can have radically different ways units and reputation. There should be a insurer for

Hackathon Update:




Jordan Earls explains that the special $10,000.00 prize will be awarded to what he considers the best project built on the Qtum Blockchain.









JUDGING CRITERIA

Problem being solved

What problem is addressed or opportunity uncovered?

Use of blockchain technology

Is the opportunity space or problem being solved leveraging the unique qualities of blockchain technology?

Market readiness

Implementation and technical quality

Presentation quality

Thank you for the update, we will add to the OP.

This is starting shortly, we will give updates as the event progresses.

This shouldn't happen, the IOU's being traded represent the total Qtum that was sold during the crowdsale. The exchanges know that in September, we will be sending them only the amount of Qtum that they were allocated to sell. If there's a discrepancy, they will be responsible.





Qtum tokens will not swap automatically if withdrawn as an ERC20 token. There will either be a swap contract available, or they will need to be sent to an exchange after September 30th. More information will be available as we reach September.

What the ERC20 tokens do for you is allow you to take possession of your Qtum, if you do not want to leave them on an exchange. After September 30th, there will be methods available for a swap.

When you are withdrawing Qtum ERC20, please make sure to do a small test transaction first to make sure you have everything working.

They will be converted into real Qtum tokens by September 30th, 2017. The ERC20 tokens that are available now allow participants to take ownership of their Qtum if they do not want to keep them on an exchange. Any Qtum IOU tokens that are left on an exchange will be converted by September 30th.

The core wallet we provide is for our Test Network, which is different than what you see on the exchanges. What's being traded on the exchanges is an IOU, which can be withdrawn as an ERC20 token. When the Main Network is released in September, all of the ERC20 tokens will be converted to Qtum.

On a development note, here is the updates this week done to Qtumd. Please read carefully, there may be big news coming.







Changes made through this week to the core wallet

Work completed:

[Build/Documentation] Instructions were added and a few things fixed for compiling Qtum for Windows

[P2P] Fixed a bug within the P2P network where blocks bigger than 4Mb could not be properly propagated

[Build/EVM] Fixed a bug where cryptopp within the EVM would not build properly on some versions of Linux

[Research/x86] Did research for the x86 VM and determined it is most likely viable as a smart contract platform

In-progress work and soon to be fixed bugs:

[PoS/Consensus] Testing and reviewing MPoS for preparation of merge into testnet-2

[DGP/Consensus] Testing and reviewing DGP for preparation of merge into testnet-2

[Staker/PoS] Adding new command line arguments and logic to the staker so that it can properly prioritize contract transactions

[Consensus] Working on fixing two minor security issues in the sparknet/testnet-1

Qtum circulating supply right now is 71M coin : 51M in Crowdsale+ 8M for Angel Backers +12M for dev team.

All 71M coin are in circulation now.

Another 29M coin will gradually in circulation in the next 4 years. for more details, you can check the economy paper: https://qtum.org/en/white-papers

if you want to trace the current Qtum in circulation, here is the real time API: https://qtum.org/circulation

we will contact coinmarketcap later.

thank you for your support.

Our Main Network hasn't been released yet, and exchanges rely mostly on community requests to list a project. Poloniex told us earlier this year that they simply do not host crowdsales anymore, but they will keep an eye on our project.

With the release of our ERC20 token, participants can now take possession of their Qtum. If they would like to leave them on the exchange, in September, their IOU's will be converted to Main Network tokens.

This ERC20 token gives our participants the ability to withdraw their Qtum from existing exchanges. We realized that people wanted control of their tokens, so this was addressed. The ability for other exchanges to list the project is an added bonus, but we are not actively pursuing any. Two exchanges have shown interest, but there's guarantee this may happen.

The ERC20 contract has 100 million tokens available, but there were 51 million sold during the Crowdsale. 20% is reserved for the development team and Angel Backers. The other 29% is reserved for industry development. One example of what we'll use the 29% for is the Hackathon we co-sponsored in Russia.

See our Economy Whitepaper for more details, this section starts on page 22

https://qtum.org/uploads/files/05f16d4cabc8ff89862eb6658d97d139.pdf

OSX Test Network wallet is ready, we will post it on the official Github shortly.

Never download or accept anything that is not on our official Github or website. There have been a lot of phishing attempts lately.

You can leave the IOUs on the exchange as you wish. This ERC-20 option is for those who want to hold their tokens and move them around freely. If you are using MyEtherWallet, you must select the add custom token feature then input the following data.

https://etherscan.io/token/0x9a642d6b3368ddc662CA244bAdf32cDA716005BC
Contract Address: 0x9a642d6b3368ddc662CA244bAdf32cDA716005BC
Token Symbol: Qtum
Decimals: 18

Please test with small amounts first and backup your wallet.